Why are so many strategies ineffective?

The CEO's job of developing a strategy that generates and captures value — and continues to do so over time — has never been more difficult. Consequently, a corporation that has long dominated its market may be blindsided by competitors who are more adept at shaping consumer preferences, fail to anticipate new technologies, or miss the boat when it comes to innovations that shape consumer preferences. In the young venture business, success is possible if your business can raise hundreds of millions of dollars, attract tens of millions of customers, and achieve lofty market valuations. Once your business can't turn a profit or fend off competitors, though, you'll face severe consequences.

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