Rita McGrath: “Before you can start building your strategy spine, you need to be clear on your objectives, scope and key advantages you have, for, say, a 5-6 year timeframe. What does “good” look like if this strategy were to succeed? A great exercise that I recommend is for those who are involved with creating the strategy to write a story from the future. Write it as though an admiring reporter for a leading publication in your sector were telling the story of your success.”
Greg Ip in WSJ: “Neither supply or demand by itself is increasing prices; it’s an unusual combination of both…The unusual origins of this inflation mean the solution isn’t straightforward. Ideally it will recede painlessly as distortions to demand and supply self-correct. Rising semiconductor output will eventually cure the shortage of cars. A receding virus and less generous federal relief should coax some workers to fill job vacancies. Households may have all the furniture, exercise equipment and pizza they want. But that process could take a while; meanwhile, higher inflation could become self-perpetuating through price and wage-setting behavior. Then, the solution to this unfamiliar inflation becomes painfully familiar: higher interest rates and perhaps a recession.”
James Clear: “You only need to know the direction, not the destination. The direction is enough to make the next choice.” [via Shane Parish]
