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A review by gianouts
Good Strategy Bad Strategy: The Difference and Why It Matters by Richard P. Rumelt
informative
slow-paced
3.25
Some great insights to a good strategy, including:
- "A Strategy should be a cohesive response to an important challenge."
- It should be a coherent set of analysis, concepts, policies, arguments and actions that respond to a high stakes challenge.
- The kernel of a strategy has 3 elements: diagnosis, guiding policy and coherent action.
- The guiding policy specifies the approach to dealing with the obstables called out in the diagnosis. It is like a signpost marking the direction forward but not defining the details of the trip.
- Coherent actions are feasible coordinated policies, resource commitments and actions designed to carry out the guiding policy.
- Good strategy is not just what you are trying to do, it is also why and how you are doing it.
- Chain linked strategies can offer a strategic competitive advantage that makes it harder for other organisations to emulate.
- Extending a competitive advantage requires looking away from products, buyers and competitors and looking instead at the special skills and resources that underly a competitive advantage. In other words, build on your strengths.
- "A Strategy should be a cohesive response to an important challenge."
- It should be a coherent set of analysis, concepts, policies, arguments and actions that respond to a high stakes challenge.
- The kernel of a strategy has 3 elements: diagnosis, guiding policy and coherent action.
- The guiding policy specifies the approach to dealing with the obstables called out in the diagnosis. It is like a signpost marking the direction forward but not defining the details of the trip.
- Coherent actions are feasible coordinated policies, resource commitments and actions designed to carry out the guiding policy.
- Good strategy is not just what you are trying to do, it is also why and how you are doing it.
- Chain linked strategies can offer a strategic competitive advantage that makes it harder for other organisations to emulate.
- Extending a competitive advantage requires looking away from products, buyers and competitors and looking instead at the special skills and resources that underly a competitive advantage. In other words, build on your strengths.