Strategy making must encompass both elements: planning and trial and error. This point can't be emphasized enough, because it has become popular for people to argue that in today's volatile environment, planning is useless. By the time you establish a plan, the claim goes, the environment has changed so much that your plan is no longer valid. The best you can do is develop an organizational environment that allows superior ideas and strategies to emerge from anyone and everyone in the organization as part of "standard operating procedures." I argue that this is not enough. A company that relies only on trial and error to develop its strategy is like a ship at sea with a rudder but no intended destination; it can go anywhere it wants, but it doesn't know where it wants to go.