Here's a book definitely on my wish list: GOOD STRATEGY BAD STRATEGY
Some key points from the book:
- Good strategy is rare. Many organizations which claim to have a strategy do not
- A great deal of modern writing about strategy deals with the detailed economic logic of “competitive advantage.”
- “Bad strategy” occurs when there is bad doctrine, when hard choices are avoided, and/or when leaders are unwilling or unable to define and explain the nature of the challenge
- Good strategy has a basic underlying logic: coherent action backed up by an argument, an effective mixture of thought and action
- One of a leader’s most powerful tools is the creation of a proximate objective—one that is close enough at hand to be feasible
- Competitive success is the joint outcome of the quality of an organization’s accumulated resources and the tight design of coordinated action
- In formulating strategy, strategists engage in an internal quest for insight and an internal struggle against their own myopia
- Despite the strategy world’s emphasis on the importance of competitive advantage, you cannot expect to make money—to get wealthier—by simply having, owning, buying, or selling a competitive advantage
- Competitors do not always respond quickly, nor do customers always see the value of an offering. Good strategy anticipates and exploits inertia
- Organizations experience significant entropy—the continual drift towards disorganization
- Of course, an organization can shoot ahead of competitors by successful innovation or by re-inventing a whole industry
via: GSBS
