According to our text (HBR, 2011), â€œIn our work, we often see evidence of what we call the 80-100 rule: youâ€™re better off with a strategy that is 80% right and 100% implemented than one that is 100% right but doesnâ€™t drive consistent action throughout the company. A strategic principle can help a company balance that ratioâ€ (p. 193).
1. What is a strategic principle? Please use an example from your company or one you are family for illustration.
2. Watch the HBR Understanding the Economic Shock of the COVID-19 Crisis video and answer the question: Where is your company going next? How will they innovate to respond to the COVID-19 crisis?