There is an interesting article in Strategy+Business: “Where are the sinkholes in your strategy?”
In this article a practice-based view is presented on strategy. It makes clear that a strategy is never perfect and it is useful to include more perspectives. Not only to find sinkholes but perhaps also to find new opportunities or potential innovations.
There are different ways to formulate a strategy. A strategy can be formulated by top management (top-down) or can be organized in a more democratic way (bottom-up). In a top-down approach there is potentially more risk for sinkholes and missed opportunities. The article gives insight how this risk can be managed.