When ‘Best Practices’ Backfire

Freek Vermeulen, an associate professor of strategy and
entrepreneurship at the London Business School, argues that too
many companies are following so-called best practices that are
actually holding them back. They do it because of deep-seated
industry tradition—and because it’s hard to know how seemingly
successful business models will hold up over the long term. That’s
why, he says, organizations should avoid benchmarking and instead
routinely test their business practices before there’s a problem.
Vermeulen is the author of “Breaking Bad Habits: Defy Industry
Norms and Reinvigorate Your Business.”