 My thesis is that there's no one approach to strategy that works under all circumstances. We need to choose the right approach for the right circumstances. And relative to that, there are a number of things that can go wrong. One of them is misperceiving the environment. We may treat the environment as stable when in fact it is not stable, or the same as yesterday when in fact it's changed. Another one is choosing the wrong approach to strategy. So we might choose, for instance, a classical approach, a planning-based approach, when in fact we need an adaptive approach. Another one is we may correctly diagnose the environment and choose the right approach to strategy, but the behavioural inertia of the organisation may prevent us from actually executing it. So we may carry on doing annual planning, even if we intended in fact to do an adaptive strategy. And then probably the fourth trap is not to have a repertoire of multiple ways of approaching strategy and implementation. So it's the hammer that always sees the nail.