Following the herd can lead you astray

My latest FT column:

I do not want to be the bearer of bad news, but I think there is
sufficient economic uncertainty for it to be prudent to revisit our
strategic objectives.

There is a tendency for business leaders to
mimic their peers: following the herd is a safety mechanism. Should the
herd start running, one instinctively follows, regardless of the
threat. More often than not this makes sense, unless the threat has
changed but the herd responses have not.

So we see talk of
innovation and competitive advantage instantly replaced by
sustainability and survival. "Bringing costs into line with revenues"
becomes the new mantra.

>>> Read the rest of the article on the FT website.