GOOD STRATEGY BAD STRATEGY: The Difference and Why it Matters
by Richard Rumelt
Learn to develop good strategies and avoid bad ones!
Do you know the difference between strategy versus goals, vision, strategic decisions, guiding principles or ambitious outcomes? Most organizations don’t have a good strategy because leaders themselves are confused about what’s strategy. In a nutshell, good strategies focus your limited energy and resources on one or a few pivotal objectives that have a good chance of being achieved with your abilities and resources.
Bad strategy isn’t just the absence of good strategy. It arises from misconceptions that block sound strategy. That’s why it’s so crucial to know the difference between good strategy and bad strategy, learn how to think like a strategist and craft good strategies that will propel your organization forward.
Here are some powerful takeaways you can expect from this summary:
• Know how to identify a good strategy vs bad strategy. Specifically, learn the 3 components that form the core/kernel of a good strategy, the 4 hallmarks of a bad strategy and why the latter is so prevalent (so you can avoid the pitfalls);
• Uncover 10 sources of power that you can harness to develop a good strategy, and learn how you can apply your biggest strengths to your biggest opportunity; and
• Learn the mindset and techniques needed to think like a strategist.
Who should read this:
• Business leaders, managers, consultants and anyone who wants to learn about strategy
• Entrepreneurs and business owners
Keywords: Business Strategy, strategic thinking, leverage, proximate objectives, strategic focus, chain-link systems, business growth, competitive advantage, market dynamics, inertia, entropy, Good Strategy Bad Strategy, Richard Rumelt