This 1998 note argues that the pimary problem in corporate strategy is very bad practice. Despite research and teaching and the best advice of the best consulting firms, large companies tend to seek size and diversity rather than innovation and value creation.  In consulting with large firms the primary problem is an ethical one.   If one refuses to help a client to do harm, won’t someone else do it anyway?  And mightn’t an advisor with principles sway the client a bit in the better direction?