An example of contrarian thinking on the part of the owner of a pizza chain might be, "Why bother diversifying into subs and calzones like most of our competition? Let's just focus on selling excellent pizza."

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The owner of the pizza chain is engaged in contrarian thinking because he does not follow his competitors. Contrarian thinking, in which the leader rejects conventional wisdom, is much like the investor who trolls for hidden value in out-of-favor stocks. See "The Nature of Strategic Leadership."

An Example of Contrarian Thinking on the Part of the Owner