Good Strategy Bad Strategy: The Difference and Why It Matters Hardcover – Deckle Edge, Jul 19 2011
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"The most interesting business book of 2011." --Financial Times
“So much that’s said and written about strategy is – from my point of view – complete junk, that I get excited when I hear someone focusing on strategy in a coherent and useful way...A very good book.” --Forbes
“The year’s best and most original addition to the strategy bookshelf." --Strategy+Business
"The whole middle section, about sources of power, is valuable—particularly the explication of the limitations and nuances of competitive advantage.” --Inc
"Clearly written, thoughtful...This book is painful therapy but a necessary read nonetheless." --Washington Times
"Represents the latest thinking in strategy and is peppered with many current real world examples. Good Strategy/Bad Strategy has much to offer and has every chance of becoming a business classic.” --Management Today
"Drawing on a wealth of examples, Rumelt identifies the critical features that distinguish powerful strategies from wimpy ones—and offers a cache of advice on how to build a strategy that is actually worthy of the name. If you're certain your company is already poised to out-perform its rivals and out-run the future, don't buy this book. If, on the other hand, you have a sliver of doubt, pick it up pronto!”
--Gary Hamel, co-author of Competing for the Future
“..Brilliant … a milestone in both the theory and practice of strategy. … Vivid examples from the contemporary business world and global history that clearly show how to recognize the good, reject the bad, and make good strategy a living force in your organization.” --John Stopford, Chairman TLP International, Professor Emeritus, London Business School
“… Penetrating insights provide new and powerful ways for leaders to tackle the obstacles they face. The concepts of "the kernel" and "the proximate objective" are blockbusters. This is the new must-have book for everyone who leads an organization in business, government, or in-between.”--Robert A. Eckert, chairman and CEO of Mattel
“…. Richly illustrated and persuasively argued … the playbook for anybody in a leadership position who must think and act strategically. “ --Michael Useem, Professor of Management at the Wharton School, University of Pennsylvania, and author of The Leadership Moment
“… Rumelt writes with great verve and pulls no punches as he pinpoints such strategy "sins" as fluff, blue sky objectives, and not facing the problem.”--James Roche, former Secretary of the Air Force and president of Electronic Sensors & Systems, Northrop Grumman.
“This is the first book on strategy I have read that I have found difficult to put down.--John Kay, London Business School
About the Author
RICHARD P. RUMELT is one of the world’s most influential thinkers on strategy and management. The Economist profiled him as one of twenty-five living persons who have had the most influence on management concepts and corporate practice. McKinsey Quarterly described him as being “strategy’s strategist” and as “a giant in the field of strategy.” Throughout his career he has defined the cutting edge of strategy, initiating the systematic economic study of strategy, developing the idea that companies that focus on core skills perform best, and that superior performance is not a matter of being in the right industry but comes from a firm’s individual excellence. He is one of the founders of the resource-based view of strategy, a perspective that breaks with the market-power tradition, explaining performance in terms of unique specialized resources. Richard Rumelt received his doctoral degree from Harvard Business School, holds the Harry and Elsa Kunin Chair at the UCLA Anderson School of Management, and is a consultant to small firms such as the Samuel Goldwyn Company and giants such as Shell International, as well as to organizations in the educational and not-for-profit worlds.
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One of Rumelt's valuable insights suggests that a decision is correct if (huge IF) it is appropriate to the given needs, interests, resources, and objectives. This is what Peter Drucker had in mind (in 1963) when observing, "There is surely nothing quite so useless as doing with great efficiency what should not be done at all." Many years later, Michael Porter made essentially the same point when suggesting that "the essence of strategy is choosing what not to do." Rumelt's purpose in the book is to awaken his reader "to the dramatic differences between good strategy and bad strategy and to give [his reader] a leg up toward crafting good strategies." Rumelt nails the "what," devoting most of his attention to the "how" and "why."
Here is a partial list of the real-world situations that Rumelt rigorously examines:
o How Steve Jobs saved Apple
o General Schwarzkopf's strategy in Desert Storm
o Discovering Wal-Mart's secret
o How blue-sky objectives miss the mark
o Pivot points at 7-Eleven and the Brandenburg Gate
Note: More about "pivot points' later
o Why Kennedy's goal of landing on the moon was a proximate and strategic objective
o [How] Hannibal defeats the Roman army in 216 B.C.
o What bricklaying teaches us about deepening advantage
o Deduction is enough only if you know everything worth knowing
o The worst industry structure imaginable
These and other mini-case studies reveal why strategy is, like a scientific hypothesis, "an educated prediction of how the world works. The ultimate worth of a strategy is determined by its success, not its acceptability to a council of philosophers or a board of editors. Good strategy work is necessarily empirical and pragmatic. Especially in business, whatever grand notions a person may have about the products or services the world might need, or about human behavior, or about how organizations should be managed, what does not actually `work' cannot long endure." Amen.
With regard to "pivot points," they magnify impact of an effort. "It is s natural or created imbalance in a situation, a place where a relatively small adjustment can unleash much larger pent-up forces." For example, in the business world, a strategic thinker "senses such imbalances in pent-up demand that has yet to be fulfilled or in a robust competence developed in one context that can be applied to good effect in another." In m y opinion, pivot points seem to be first cousins to Michael Kami's trigger points, Andy Grove's inflection points, and Malcolm Gladwell's tipping points. Obviously, a good strategy takes full advantage of every opportunity that pivot points offer.
Those who share my high regard for this brilliant book are urged to check out Walter Kiechel III's The Lords of Strategy: The Secret Intellectual History of the New Corporate World.
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