Each firm is unique. While it may face opportunities and challenges that are common to its industry or to all firms, its unique mix of people make it different from every other firm. This makes the notion of transferable 'best practice' a problematic concept. Each firm must find a solution that fits its circumstances and its mix of people.
How will your capabilities shape your strategy and how must those capabilities change over time to reflect your strategies? And how will you achieve that?
Corporate legal and organisational structure impacts how responsive firms can be to risks and how readily they can change. Firms must also settle how structure relates to accountability.
Ultimately, how the firm gathers, collates and uses information about its environment and markets and about itself determines how well it can respond to its challenges and opportunities. Even what the firm views as information and as valid sources of information and chooses to translate in to knowledge will craft its understanding of its strategic options.
Across all domains, firms seek to manage performance. How firms define performance in relation to its objectives will impact where the firm allocates resources and how it drives results, including through systems to manage its people.