This is a review of the book Good Strategy, Bad Strategy.
The first 20% of the book is still okay. But I could not read beyond that, as it is long winded, and used too many examples from US Military strategies.
Nonetheless, here’s what I learnt:
Definition of Strategy - We don’t really understand it.
Confused, and “strategy” became a verbal tic. eg. IT Strategy, Low-price Strategy, …
A word that can mean anything has lost its bite.
We need a redefintion. A real understanding of Strategy.
Core of strategy work
= Discover critical factor in a situation + Design a way of coordinating and focusing actions
= Recognise Challenges + Approach to overcome them
A leader’s most important responsibility is working on strategy.
Mastering the shift from others defining your goals, to being the architect of the organisation purposes and objectives.
A good strategy
Selects the path, identifying the how, why and where leadership and determination are to be applied
Say “NO” to wide variety of actions and interests
It’s as much as what an organisation does not do, as what it does
Why so much bad strategy?
Strategy involves focus, and choice; Most people have unwillness or inability to choose
A logical structure:
1) Diagnosis - Simplify and identify the critical
2) Guiding policy - Overall approach
3) Coherent actions - Steps that work together
Example (Apple by Steve Jobs in 1998):
Challenge: Product lineup was too complicated. Too many price points and too much markup.
Action: Cut all except 1 laptop, Cut distributors, Cut development
When PC is dominated by Microsoft, Apple Strategy is “to wait for the next big thing”
Apple eventually released the iPhone
What I didn’t read..
After finished Part I, I merely browsed Part II and III..
Part II - Sources of Power - I don’t read. Not necessary. Using leverage, advantage, dynamics, focus, growth, etc..
Part III - Not sure what’s the conclusion