Practicing strategy in an uncertain world
A modern strategy that works will require leaders to learn new skills and apply new tools. Here’s a primer for a refreshed approach.
Illustration by Klaus Vedfelt
Kristian Ebbesen Fjelde and his team knew that the executive committee meeting scheduled in mid-2019 to discuss the future strategy of their company was more important than most. Equinor had changed its name in May 2018 from Statoil to signify that it wanted to become a more diversified energy company and take a leading role in the long-term goal of transitioning out of fossil fuels. Equinor was Norway’s biggest energy producer, and its leaders understood that the structural shifts in the market necessitated a radical shift in the business that would require more than a simple rebranding. Instead of putting together a presentation, Fjelde decided to run a “strategic beliefs” card game. His team circulated 16 statements, each describing what might become a core belief of