Richard Rumelt

Strategic thinking is essentially a substitute for having clear connections between the positions we take and their economic outcomes.

Strategic thinking helps us take positions in a world that is confusing and uncertain. You can’t get rid of ambiguity and uncertainty-they are the flip side of opportunity. If you want certainty and clarity, wait for others to take a position and see how they do. Then you’ll know what works, but it will be too late to profit from the knowledge.

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