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A book that sounds a bit 'dorky' like this one I normally leave alone for fear of empty words. But I am very happy to have picked this one up!
Rummelt is a very senior strategist to big and smaller firms, and have seen where they can go wrong: confusing objectives with strategy ("our strategy is to grow revenue"), strategy with excel sheets or (worst of all, and very hot right now) confusing leadership ("a will to succeed") with strategy.
Instead, he outlines a simple yet powerful method of building a strategy:
1. diagnose the situation and determine the key challenge for the organisation/firm
2. develop/create a guiding policy (Porter would say, competitive strategy) to overcome the challenge or reap the opportunity
3. develop and execute a coherent action plan.
He goes on the enrich each of these parts, which to a certain extent have been discussed elsewhere (Porter, Ansoff, Hamel, Kaplan) but not in such a concise and easy to follow way.
The strength of the book is not only in how strategies should be build and executed, but also how many companies go wrong: e.g. that your strategy needs commitment from the organization is ruthlessly attacked: if the entire organisation agrees with the strategy, there is no 'hard' choice involved. A strategy that pleases all in the end does not deliver. Though provoking and pragmatic at the same time.
What I personally found most pleasing is that Rummelt does not say that planning is better than execution, or leadership is superior or not, but that all are parts in a chain that need to fit together. You need strategy AND execution AND leaderhip AND creativity/innovation AND ...while simultaneously focusing your energy.
If you are in a leadership or management position in any organisation, private or public, I highly recommend this book for its framework, coherence and ease of understanding, combined with its focus on the essential elements and pitfalls.
8 of 8 people found this review helpful
Runnette does the impossible in this book and makes a book on strategy interesting. It's amazing how stories and anecdotes can make all the difference. By highlighting some funny examples of bad strategy, good strategy becomes more and more obvious in contrast. Looking forward to future books from Runnette.
6 of 6 people found this review helpful
Any additional comments?
A really practical approach to strategy, however, the examples throughout the book go on way too long without adding value. A 2 minute example to prove a point would be great, but some go on for maybe 10 minutes or more. I found that I kept 'drifting off' and forgetting the point that was being made.
6 of 8 people found this review helpful
Brilliant points, very long listen and sometimes found myself lost in case studies and the key points. Was my first audiobook so perhaps it was me....have since gone online and with the book, retained the key elements of good strategy and why bad strategy is so common. So well worth getting this book
1 of 1 people found this review helpful
Some good points but too busy boasting and labouring each point.
Could be understood within an hour
The first part of the book is wonderful at making a complex concept crystal clear. The stories, examples and frameworks outlined were really great. The book falls down slightly at the end with long winded, uninteresting case studies with little conclusions. With so much rich information, it will be a shame to not have a paper copy to review at a later date.