Strategy is Too Important to be Left to the CEO

Faced with the fast-evolving challenges of modern business, strategy cannot be solely the purview of CEOs, much like how war is too significant to be left to generals alone. This paper argues that real strategy involves making educated bets on the future amid uncertainty rather than following static plans or efficiency targets. It challenges the traditional CEO-centric approach to strategy-making, advocating instead for a more inclusive, participative, and experimental process. By leveraging collective intelligence and engaging middle managers, boards, and diverse stakeholders in ongoing strategic dialogue, organizations can adapt to complexity, innovate, and thrive. The shift towards decentralization, fostering a culture of trust, and adopting an “outside-in” perspective focused on customer experience are essential for true strategic success. This paper calls for a fundamental rethinking of strategy-making, transforming it from a routine exercise into a dynamic and creative endeavour.