Bridge to the future: connect your strategies in an interconnected world

Abstract

PurposeThe chief contention of this paper is that, in today's interconnected world sustainable competitive advantage depends on two factors: how well networked a firm is; and how well the firm can foresee future opportunities. The second factor is the consequence of first one. These two factors together suggest a paradigm shift in the strategy crafting process: from “strategies‐for‐profit” to “strategies‐that‐connect”. The aim is to focus on these issues.Design/methodology/approachThe paper draws inferences from literature review and presents a structured argument.FindingsIncreasingly, visualization of opportunities, which has not yet arisen, but will arise in due course of time, will play a key role in the strategy crafting process in the coming years.Practical implicationsThe findings of the paper may facilitate the crafting of better strategies and reducing the risk of strategic failures.Originality/valueThe paper suggests a paradigm shift in crafting strategy in an interconnected world.