Tobias Kretschmer is a professor of management at the Munich School of Management, where he is the head of the Institute for Strategy, Technology and Organization. Professor Kretschmer’s research interests include competitive strategy, network industries, organization design, and applied industrial organization.
|The COVID-19 pandemic has permanently changed how companies should think about business strategy. Disagree||“Good business strategy has always considered contingencies, although maybe not ones as drastic as the COVID-19 pandemic. Still, many businesses have been remarkably resilient and innovative in the crisis, showing that strategies can be developed, changed, and implemented in real time. If anything, the pandemic has shown firms the value of good strategizing and foresight. I suspect we might see an improvement in strategic decision-making in the next few years, but this will simply be badly managed firms catching up with practices the leaders have been using all along.”|