Commanding Your Strategy: The Leader's Guide to Successful Planning (P.3 - Good Strategy/Bad Strategy)

Lessons from "Good Strategy/Bad Strategy" by Richard Rumelt

Richard Rumelt's book "Good Strategy/Bad Strategy" is a must-read for anyone interested in strategic thinking and planning. In this summary, we'll explore the key lessons from the book and how they can be applied to your business.

The first lesson is the importance of identifying and focusing on key issues. This means understanding the most critical challenges facing your business and developing strategies to address them. Rumelt emphasizes that successful strategies are built on a deep understanding of the underlying problems and the development of targeted solutions to address them.

The second lesson is the importance of developing a cohesive and actionable strategy. A good strategy consists of three key elements: diagnosis, guiding policy, and coherent actions. Diagnosis involves a deep understanding of the challenges facing your business, while guiding policy outlines the overarching approach to addressing those challenges. Coherent actions involve specific steps and initiatives that will drive the strategy forward.

The final lesson is the importance of building momentum through strategic victories. This means identifying early wins that can help to build momentum and reinforce the validity of your strategy. Rumelt argues that businesses that achieve early successes are more likely to continue building momentum and gaining support from stakeholders. This can help to build a virtuous cycle of success that drives the strategy forward and leads to long-term sustainable growth.

Overall, "Good Strategy/Bad Strategy" offers valuable insights into the process of strategic thinking and planning. By identifying and focusing on key issues, developing a cohesive and actionable strategy, and building momentum through strategic victories, businesses can achieve their goals and thrive in today's rapidly changing business landscape.