Good Strategy Band Strategy - Richard Rumelt

 

Strategy is loosely used by every other person who intends to communicate the possibility of an underlying plan or something they find hard to understand! This is a generally held notion and often I engage into a debate saying that is not strategy! They then ask what  is strategy and used to wonder how do I communicate in precise terms. I think I found my answer with this book.

Strategy is not vision, its not possessing an audacious goal. If someone attributes these piece-meal to be indicative of some strategy rest assured this is an incomplete understanding. A good strategy consist of a kernel (composed of three parts - A good diagnosis, A good guiding policy and finally coherent action). Rumelt goes on to show why a good understanding of strategy is important and essential to gain an advantage in business.

To all those people who ask me if there was one book which could help them understand what strategy really stands for here is a classic by Richard Rumelt. Rumelt compresses the rich academic scholarship into this book buttressed with real life situations that he came across as part of this life as a faculty and a consultant.

If you haven't read it yet and want to understand the essence of strategy, this is one book you have to have in your library. 

There is a website that you might like to access built based on this book:

http://goodbadstrategy.com/