One of the best book on corporate strategy I have ever read. At first, I checked the author, Richard Rumelt and found out that he is a college professor. This fact brought some doubts regarding his authentic experience in the field of corporate strategy. At the moment, I can admit that my prejudice was without merit. Moreover, even some classroom narratives turned out to be in-depth and accurate case studies.
The key message of the book is an honest, intellectual assessment of your own thinking. Good Strategy Bad Strategy is full of relevant and incisive cases in business, government and military sectors. It presents those fine strategies which are built on sincere mindset.
Getting down to essentials, the book is divided into three major chunks:
1. Good and bad strategies which addresses the differences between these two groups.
2. Sources of power which presents adaptable approaches in order to improve the strategy. The part which I enjoyed the most was about 4 pillars that have to support your strategy (at least one): focus, advantage, leverage, and growth. It’s almost impossible to build a new strategy based on managerial incentives and determination. You have to see some game changer on the horizon. It has to be something that your company can possess and use as a competitive advantage.
3. Thinking like a strategist which describes a proper mindset in regard to the strategy designing process.
Good Strategy Bad Strategy: The Difference and Why It Matters
by Richard Rumel
Size: 320 pages
Other information and reviews of this book on Goodreads: https://www.goodreads.com/book/show/11721966-good-strategy-bad-strategy
Other useful links:
Richard Rumelt’s website: http://goodbadstrategy.com/
Richard Rumelt on Wikipedia: https://en.wikipedia.org/wiki/Richard_Rumelt
Great interview with Richard at McKinsey: https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/strategys-strategist-an-interview-with-richard-rumelt
Other book about business strategy: MBA in a Book by Joel Kurtzman