Using ‘Outside-the-Box’ Thinking to Drive ‘Inside-the-Box’ Strategies
Rather than spurring on creative thinking in strategy development, the command to “think outside the box” is often taken as a rallying cry for radical change. For most large companies, however, radical change – be it portfolio transformation or diversification – has not been all that effective in producing superior shareholder returns. More often than not, the biggest opportunities for sustained value creation stem from applying creative thinking to a company’s existing business portfolio. The article asserts that this does not mean that executives should mute the call for outside-the-box thinking.