A palette of plans

BUSINESSES are bombarded with advice on strategy. Many gurus urge them to discover a “blue ocean” where they can swim without competition. Others argue that this is a pipe dream—a blue ocean will immediately be turned red by competitors—and advise them to focus on flexibility. Some pundits preach the first-mover advantage; others urge firms to be fast followers. Bosses end up confused and cynical, with some lurching from one strategy to another and others concluding that they never want to hear the word “strategy” again.