Telstra is making it up as it goes along
![Telstra's shareholders should be asking some hard questions of the chief executive Andy Penn and the chairman John ...](http://web.archive.org./web/20180514022511im_/http://www.afr.com/content/dam/images/h/0/y/1/h/z/image.related.afrIndexLeadWide.460x260.h100p9.gshfrb.png/1526262797220.jpg)
At the core of Telstra's profit downgrade on Monday, is the frightening admission that it has failed to develop effective strategies in response to increased competition in the $20 billion a year mobile market.