In a new column, Rishikesha T. Krishnan, Professor of Corporate Strategy and Policy at IIM-B and author of ‘From Jugaad to Systematic Innovation: The Challenge for India’, writes on corporate strategy, policy and innovation.Once demand-led growth slows down, the importance of strategy becomes clear A decade ago, whenever I tried to raise the subject of strategy with the leaders of the Indian software industry, I was told that strategy did not matter, and all that counted was execution. So, I was pleasantly surprised when, at a recent social gathering, the Chief Executive Officer (CEO) of a successful software services company sought me out to discuss, guess what? Yes, strategy.