As volatility, uncertainty, complexity and ambiguity increase, current approaches to crafting strategy are of limited value. The book lays out challenges facing strategists of both profit and not-for profit organizations and presents new approaches to deal with these. Open strategizing, developing innovative strategies and business models, and learning from outliers are detailed. The benefits of ambidexterity and creating an ambidextrous context are presented, along with approaches to dissolving silos that act as major obstacles to maintaining performance and viability. Numerous illustrations from both developed and developing countries are presented to illustrate how the concepts and frameworks can be applied to the changing reality.