GOOD STRATEGY BAD STRATEGY: The Difference and Why it Matters

by Richard Rumelt

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.

In this summary, you'll learn:

• 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);

• The 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

• 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