MITSloan Management Review
2 MIT SLOAN MANAGEMENT REVIEW FALL 2014
FALL 2014 • VOLUME 56 • NUMBER 1
STRATEGY IN CHANGING MARKETS: NEW DIRECTIONS
23 Beyond Forecasting: Creating
New Strategic Narratives
In turbulent markets, it can be hard for established
companies to choose new strategic directions. But by
rethinking the past and present and reimagining the
future, managers can construct strategic narratives that
break from the status quo and enable innovation.
BY SARAH KAPLAN AND WANDA ORLIKOWSKI
STRATEGY IN CHANGING MARKETS: OPPORTUNITY SELECTION
29 The Opportunity Paradox
Experimentation, iteration and improvisational change
are all the rage in dynamic business environments.
However, when evaluating new business opportunities,
there’s a paradoxical tension between strategic focus
and flexibility that can define or break your business.
BY CHRISTOPHER B. BINGHAM, NATHAN R. FURR AND
KATHLEEN M. EISENHARDT
STRATEGY IN CHANGING MARKETS: THE BOARD’S ROLE
37 How Strategic Is Your Board?
Many corporate boards lack clarity about their role in
strategy. A structured assessment of the board’s strategic
responsibilities — and how these should evolve if the
company’s competitive context shifts — can change that.
BY DIDIER COSSIN AND ESTELLE METAYER
ON THE COVER: Fred R. Conrad/The New York Times, AP Images; Courtesy of The Lego Group, Tesla Motors Inc.
“All boards must be prepared to
adapt to changes in context. They
should be ready to shift not only
their strategic goals but their
understanding of their own role.”
— DIDIER COSSIN AND ESTELLE METAYER