4STRATEGY
Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
Sun Tzu, Chinese Military Strategist, c. 490 B.C.
What if you are a leading energy company that practically invented the market in your segment. For the past 25 years you did not have much competition, but now you have to deal with disruption in your industry. You unexpectedly lose a bid that was almost a guaranteed win. Up to this point, the focus was on execution, building technical capabilities and competence. The projects organization was proud of its accomplishments and timely execution of technically challenging projects. Now, suddenly, you are inundated with the reality of declining costs, reducing margins, increased competition, oversupply in the value chain, and changes in the underlying business model of the industry. One of the executives of this European energy company questions, “Up to now we have been measured on execution and delivering high‐profit‐margin ...
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