GaWC Research Bulletin 306 (A) H.
Classic approaches to business strategy assume a foreseeable future based on reasonable assumptions about developments in markets, technologies, or regulation. In an increasingly uncertain world, this approach falls short. The portfolio-of-initiatives framework, developed in the early 2000s by McKinsey director Lowell Bryan, draws on ideas such as the three horizons of growth and Hugh Courtney’s levels of uncertainty and offers a way to develop strategy in a more fluid, less predictable environment. In the article “Just-in-time strategy for a turbulent world,” Bryan compares such a portfolio to a convoy of ships in wartime: their numbers and diversity improve the likelihood of survival for any one of them. The framework takes into consideration two aspects of initiatives: familiarity and time. Enduring ideas: Portfolio of initiatives - McKinsey Quarterly -