A Summary Review Of ‘Good Strategy Bad Strategy’ By Richard Rumelt

 

Use of “sunday” high-sounding words and phrases are to create the illusion of high-level thinking but actually failing. That’s a bad strategy, as failing to recognise/define challenges and forecast potential disaster. Because goals and subgoals are not strategies. Someone should decide a guiding policy and overall approach to overcome obstacles and this will initiate team member focusing on resources and concentrate the action/effort on that objective. A strategy may not be a set of financial goals, but it can be an insight into a next action that will potentially create and extend the advantage. The company should focus on one business activity or chain-linked of core activities at top quality and benefit from each other. With larger value it creates for the selected market, will position the company at higher bargaining power side. Therefore, when come up with ideas, don't justifying it rather questioning it. “Simulation”.

📒 Good Strategy vs Bad Strategy - by Richard Rumelt.