112 Learn, Change, and Institutionalize
Our global business environment is constantly changing at a rapid pace. To survive, businesses must learn and change. No ultimate strategic weapon lasts long in business. Strategies are readily copied and even patents eventually expire.
Planning and implementing strategies provide opportunities for institutional learning. Such learning requires posing probing questions that challenge the status quo and seek new information. In order to formulate new strategies, you must evaluate and question your past experiences and current practices, as well as investigate industry and societal trends. The continuous cycle of planning, implementing, and evaluating strategies leads to learning and subsequent change.
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