Know The Odds: Roger Martin On How To Bet In Business—And Win
As he writes in the article, you can't predict the future of your industry with absolute certainty—and strategizing isn't meant to provide a definitive guide of what to expect. However, having a concrete plan in place allows you to pay closer attention to trends occurring in your field. "The strategist says: 'this is what I think will happen,' watches what does happen, and then updates the strategy and bets based on the newest information," he explains. In essence, it isn't about knowing for sure what your company will do, but about having a plan in place that allows you to quickly and easily respond to an unexpected event. When you are constantly planning for the future, no matter what the outcome of your predictions, you are better able to adapt to changing and emerging trends.
Martin is currently the Dean of the Rotman School of Management at the University of Toronto. He is highly regarded for his opinions on business and business education, and gives eye-opening speeches that help audiences expand their thinking and try innovative, new business models.