How to create an informed strategy

- Strategy's important, but here's the thing. … It has to be an informed strategy. … You can't input faulty assumptions … and expect something amazing to just come out of it … because you're being strategic. … Here are three ways you can become smarter and more nuanced … in your strategic thinking. … First, recognize that good strategy … doesn't have to be innovative. … Sure, sometimes it is, and it can be transformative. … Everyone would like to invent the next iPhone. … But good strategy, … as the professor and author Richard Rumelt has said, … is about making choices. … And those choices don't necessarily have to be … something unique that the world has never seen. … Look at history. … Review past examples and see what's worked before, … and that might provide a useful guide for you. … Look at what your competitors are doing. … There's probably a pretty good reason for it. … Now, depending on what that reason is, … you may want to copy them, or you may want to circle around … and do something completely different. …