A computer is a computer, a human being is a human being. The expected global economic downturn will be a true test of the robustness of new-economy strategies, Machida says. Winter is coming, but we don't know whether it is going to be a bit chilly, very cold or brutally cold. You have to clear your own backyard but these are things you do, regardless of new economy or old economy. However short strategy cycles have become, and however the new hybrid approach pans out, Machida and Wilkinson agree strategy by itself is meaningless without vision.
Strategy is more like a series of stepping stones.
As long as you have a clear vision for the future what is the mission of this company, what does this company provide you will have strength. Most visions are, frankly, sandcastles in the air. North argues that companies simply can't afford to ignore the new economy. Any strategy, he says, needs to take into account predictions that the number of internet users will double in number from 500 million today to a billion in the next five years. Now it's about shareholder value, and embracing digitalisation in a way that creates long-term value.