The typical format for managerial learning at a business school usually involves students working on case studies during their classes. This approach often guarantees a much richer learning experience that the lecture format. The classic criticism of the case study method, however, is that it encourages managers to believe that any problem can be solved. In fact, many strategic problems are intractable. Sometimes the biggest managerial skill of all is to learn which battles to avoid fighting in the first place, rather than to contemplate how every battle may be won. I was reminded of this issue last week. I was wrapping up my brand management course with a session on private labels. Private labels, own-brands or store brands, have always been with us. From their origins as 'recession brands' in the 50s, through to their...
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