Strategy in turbulent times

This paper revisits a typical bricks and mortar company that had successfully applied strategy development and deployment methodologies such as Hoshin and QFD to their transformation process. With the explosive growth of the Internet, and the increasingly turbulent economic environment, the viability of current business models is threatened. In the process, it is calling into question the methodologies that worked so well in the past when long‐cycle environments prevailed. This paper explores the impact of this on a company’s strategic process and concludes with the hypothesis that a robust strategic process is needed now more than ever and that this should ride over the top of the turbulence. It also identifies where some traditional tools and methodologies may evolve to be effective in the new economy.