How can industries traditionally associated with a classical approach benefit from an adaptive strategy?

The book 'Your Strategy Needs a Strategy' suggests that businesses should employ an adaptive strategy when forecasts are no longer reliable enough to create accurate and durable plans. This is particularly relevant in today's business world where turbulence and uncertainty strike businesses more frequently and intensely and persist longer. Therefore, even industries that are more associated with a classical approach may need to consider an adaptive strategy instead.

Some common pitfalls to avoid when navigating various strategic approaches include: not aligning the strategy with the company's overall goals, not considering the external environment and market trends, not being flexible and adaptable to changes, and not involving all stakeholders in the strategic planning process. It's also crucial to avoid sticking to a strategy when it's clearly not working, and not reviewing and updating the strategy regularly.