What are potential obstacles companies might face when trying to be more specific in their mission statements?

The theory of being more specific in mission statements challenges existing practices in business strategy by pushing organizations to define their goals and objectives more clearly. Traditional mission statements are often generic and vague, making them difficult to use as a guide for decision-making and innovation. By being more specific, companies can provide a clearer direction for their employees, which can lead to more effective strategies and innovative solutions. This approach challenges the status quo by emphasizing the importance of clarity and precision in strategic planning.

The case studies in 'Competing Against Luck' are not provided in the content, hence a detailed analysis cannot be provided. However, the broader implications of the case studies in the book generally revolve around the concept of 'Jobs to Be Done' theory. This theory suggests that customers hire products or services to do a job for them. Understanding this job can lead to successful innovation. For instance, a case study might discuss how a company like Airbnb understood the job that customers wanted done - finding affordable, comfortable, and unique accommodations - and innovated to meet that need.