Good Strategy Bad Strategy: The Difference and Why It Matters By Richard Rumelt
Even strategy is dichotomous. It has a good element that works and a bad element that fails to yield any measurable result. That’s why you must read this book to know what’s gold and dross!
Book Review:
·????????Rumelt’s work signifies the difference between good and bad strategies. He has given a framework for implementing a good strategy and mentions that most companies don’t have a strategy; they forget about the good or bad strategy. You will learn how you can create and build a company with a good strategy with references like Apple, Ford, IBM, and many more.
·????????If you pick up this best strategy book, you will understand that the chief task of a leader is to strategize. And the way she should do it is by stripping away all the excesses like financial goals, slogans, and buzzwords and concentrating only on how the organization will move forward.
Key Takeaways
·????????The best part is the simple three-step framework of good strategy. The first step is a diagnosis where you would get clarity about the challenges your company is currently facing. The second step is your approach to overcoming the hindrances. Finally, the last step is having a shared vision and taking action steps together to implement the same.
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·????????Many strategy books come down from the perspective of theoretical ideas. But this book on strategy concentrates on practical wisdom and how you can apply the ideas directly to your business. At the same time, this book doesn’t tell you exactly what to do; you need to think through and apply the same to your business as you see fit.