Even though everyone is talking about it, there is no concept in business today more muddled than ‘strategy’. Richard Rumelt, described by McKinsey Quarterly . Citation: Richard P. Rumelt, () “Good Strategy/Bad Strategy: The The role of CSR in business strategy: Maintaining competitive advantage with a. This summer, Richard Rumelt authored a book called “Good Strategy, Bad Strategy: The Difference and Why It Matters.” As you might expect the title alone.
What is the critical test of Rumelt’s blah-blah to distinguish it from everyone else’s mumbo-jumbo?
Good Strategy/Bad Strategy | The Difference and Why It Matters
A book like this can only be written with many years of research and deep thought on the practice of strategy. Perhaps the best business book I’ve read yet. Although a number of examples in Part I are also from business, the content in Part I applies to both for-profit and non-profit enterprises. Goodreads helps you keep track of books you want to read.
The author cuts the fat while explaining the strategy making process, making it more accessible to the average reader using a plethora of case studies. Who does he think he is, a rocket scientist? Is your strategy a mix of slogans and goals, or a set of objectives that offer solutions to key problems? This book seems a lot longer than necessary. Jan 14, Szymon rated it really liked it. Some of the themes will be well recognized by students of strategy: The diagnosis defines or explains the nature of the challenge, and identifies the critical aspects, simplifying to allow action.
Summary – strategy takes analysis. Buy it and read it. The author is considered an international expert in strategy.
These three components correspond to why, what, and how; closing the circle of strategy work. It shows what a good MBA could in still in you in terms of thought process. This book teaches you how to do it. Just as good science takes place on the boundaries of what is known, good strategy must also do the same by systematically testing its assumptions and interrogating its operating environment to come up with its guiding principles.
This can be effectively addressed by conducting a rigorous SWOT exercise, as this will help you diagnose your company just like a doctor might a patient. Rumelt reinforces that a strategy is the set of actions an organization or team should implement and, just as importantly, the actions an organization should avoid as they drive forward in their market.
Good Strategy/Bad Strategy: The Difference and Why It Matters. By Richard Rumelt
Grand Strategy, Foreign Affairs, www. Fairly standard corporate strategy fare.
If, on the other hand, you have a sliver of doubt, pick it up pronto! In essence, the kernel forms the bare bones skeleton of a strategy. It is simple in its generic components, yet infinitely complex and challenging when formulated in a world of constraints and competition.
Comprehending the situation with a view to achieving leverage over outcomes in this way, remains a question of judgement however. The surprise of it, and the general rarity of such good strategy, is because such focus requires disciplining the competing interests, ambitions and desires of units within an organisation here the army, navy and air force.
From the Hardcover edition. The barbs he slings at ‘bad’ strategists are hilarious. Like guardrails on a highway, your plan offers a guiding approach. Just as important as being able to formulate good strategy is the ability to detect bad strategy. Articles Videos Blog All topics. Rumelt puts Chad Logan on blast – unwittingly providing comic relief, because what did this dude do to inspire so much ire?
He should apply the scientific method to himself. Rumelt argues that the heart of a good strategy is insight—into the true nature of the situation, into the hidden power in a situation, and into an appropriate response. A budget is not a strategy.
I liked the cases he presented to get his points across, though I think that for some he got a bit too into it and made them very difficult to keep up – I had to stop and google people and events. When I asked Bob about the strategic challenges that his business was looking to tackle, I got a blank stare in return.
I suggest skippi An insightful but long-winded exploration of effective strategy. It articulates the fundamentals of strategy and is exceptional in its depth and breadth of case illustrations and understanding on strategy. Mar 01, Norah rated it really liked it. Jan 13, Andy rated it liked goov. Ambition and motivation aren’t strategy.
Recent Developments: Our Take on Richard Rumelt’s “Good Strategy, Bad Strategy”
Not fruitful at all. It is full of examples goos the author looks back on strategyy and determines that he was right at the very beginning and that his strategy was or would have been best for the client. Readers will interact with the material in different ways. Clients executing their plans with OnStrategy: The guiding policy outlines an overall approach for overcoming the obstacles highlighted by the diagnosis. As Richard Rumelt argues in his timely book: May 23, Andrew Garvin rated it really liked it.
Jul 20, Lendl Meyer rated it it was amazing. He gives all kinds of different examples of bad strategy that have little in common. In short, he forces us to read the details of his stories in the same way a true strategist would grapple with the details of his or her situation. And it is to some degree just word games, because a good mission statement is functionally the same thing as what he calls a “guiding policy.