But putting a sick business on a healthier strategic path while changing its culture "is much more difficult than most executives realize, " he cautions.

WSJ: Can a New Culture Fix Troubled Companies?

Finding a strategic buyer could be an extremely lucrative path that the financial buyers can pursue.

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While no one in baseball is showing any signs of sympathy for the Yankees and their current roster deficiencies, a few strategic moves could lead them on the path they have desired for some time.

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If you do not have a strategic brain in-house, then oftentimes, it seems that the right path forward is to choose between the varying strategies offered by the vendors you already know and trust, strategies that were crafted to serve their needs, not yours.

FORBES: Why You Cannot Rely on Vendors for Your IT Strategy