Good Strategy/Bad Strategy: The difference and why it matters [Hardcover]

'A milestone in both the theory and practice of strategy' --John Stopford, Emeritus Professor, London Business School

`This is the first book on strategy I have read that I have found difficult to put down.' --John Kay, London Business School

'Richly illustrated and persuasively argued' --Michael Useem, Professor of Management at the Wharton School, University of Pennsylvania, and author of 'The Leadership Moment'

`The new must-have book for everyone who leads an organization--business, government, or in-between.' --Robert Eckert, Chairman and CEO of Mattel

'Has every chance of becoming a business classic...' --Management Today

'Avoids the pretentious, overblown jargon which often renders great ideas and insights inaccessible' --Insider (Scotland)

The magnum opus from 'strategy's strategist', shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2011

Even though everyone is talking about it, there is no concept in business today more muddled than 'strategy'. Richard Rumelt, described by McKinsey Quarterly as 'a giant in the field of strategy' and 'strategy's strategist', tackles this problem head-on in a jargon-free explanation of how to develop and take action on strategy, in business, politics and beyond. Rumelt dispels popular misconceptions about strategy - such as confusing it with ambitions, visions or financial goals - by very practically showing that a good strategy focuses on the challenges a business faces, and providing an insightful new approach for overcoming them. His sharp analysis and his brilliant, bold style make his book stand out from its competitors (something that Rumelt himself says is crucial). Rumelt has always challenged dominant thinking, ever since, in 1972, he was the first person to uncover a statistical link between corporate strategy and profitability - and this is his long-awaited tour de force.

How to create and implement a powerful, action-oriented strategy that gets results Developing and implementing a strategy is the central task of any leader, whether they are CEO at a leading global company or head of a school. There has been a growing and unfortunate tendency to equate buzz-words, motivational slogans and financial goals with 'strategy', Richard Rumelt debunks these elements of 'bad strategy' and awakens an understanding of the power of 'good strategy.' A good strategy is a specific and coherent response to the obstacles to progress. It works by harnessing and applying power where it will have the greatest effect, whether putting a man on the moon, fighting a war, launching a new product or responding to changing market dynamics. Rumelt argues that the heart of good strategy is insight into the hidden power in a situation, and into an appropriate response. He shows how this insight can be cultivated with a wide variety of tools that lead to better thinking. Good Strategy/Bad Strategy draws on business, non-profit and military affairs to bring Rumelt's original and pragmatic ideas to life. His fascinating examples range from Apple to General Motors; the two Iraq wars to Afghanistan; a small local market to Wal-Mart and from Global Crossing to the 2007-08 financial crisis. Demonstrating an astonishing grasp and deft integration of economics, finance, technology, history, and the brilliance and foibles of the human character, Good Strategy/Bad Strategy is the culmination of Rumelt's decades of striving beyond the superficial to address hard questions with honesty, clarity and integrity.

'The first book on strategy I have read that I have found difficult to put down. For Rumelt, strategy is no more - or less - than structured, intelligent thinking about business. This book teaches you how to do it.' John Kay, author of Obliquity 'If you're certain your company is already poised to out-perform its rivals and out-run the future, don't buy this book. If, on the other hand, you have a sliver of doubt, pick it up pronto!' Gary Hamel, co-author of Competing for the Future 'There are precious few books that enable you to not only re-think the way you think but also improve your performance. Richard Rumelt's brilliant Good Strategy/Bad Strategy is one, a milestone in both the theory and practice of strategy.' John Stopford, Chairman TLP International, Professor Emeritus, London Business School 'The new must-have book for everyone who leads an organisation in business, government, or in-between.' Robert A. Eckert, chairman and CEO of Mattel 'There are many books on strategy but none as good and thought-provoking as Good Strategy/Bad Strategy. A wonderful book, full of fresh ideas and radical advice.' Costas Markides, Professor of Strategic Leadership, London Business School

Richard Rumelt is a professor at UCLA's Anderson School of Business. He also taught for several years at INSEAD in France, and has been a consultant to a wide range of organisations, from the Samuel Goldwyn Company to Shell.