Remarkably, fifty years ago that's the way it was. Businesses made plans, certainly, but without understanding the underlying dynamics of competition, costs, and customers. It was like trying to design a large-scale engineering project without knowing the laws of physics.
But in the 1960s, four mavericks and their posses instigated a profound shift in thinking that turbocharged business as never before, with implications far beyond what even they imagined. In The Lords of Strategy, renowned business journalist and editor Walter Kiechel tells, for the first time, the story of the four men who invented corporate strategy as we know it and set in motion the modern, multibillion-dollar consulting industry:
Bruce Henderson, founder of Boston Consulting Group
Bill Bain, creator of Bain & Company
Fred Gluck, longtime Managing Director of McKinsey & Company
Michael Porter, Harvard Business School professor
Providing a window into how to think about strategy today, Kiechel tells their story with novelistic flair. At times inspiring, at times nearly terrifying, this book is a revealing account of how these iconoclasts and the organizations they led revolutionized the way we think about business, changed the very soul of the corporation, and transformed the way we work.
Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business.
The Lean Startup approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. Inspired by lessons from lean manufacturing, it relies on “validated learning,” rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute.
Rather than wasting time creating elaborate business plans, The Lean Startup offers entrepreneurs - in companies of all sizes - a way to test their vision continuously, to adapt and adjust before it’s too late. Ries provides a scientific approach to creating and managing successful startups in a age when companies need to innovate more than ever.
Developing and implementing a strategy is the central task of a leader. A good strategy is a specific and coherent response to—and approach for—overcoming the obstacles to progress. A good strategy works by harnessing and applying power where it will have the greatest effect. Yet, Rumelt shows that there has been a growing and unfortunate tendency to equate Mom-and-apple-pie values, fluffy packages of buzzwords, motivational slogans, and financial goals with “strategy.”
In Good Strategy/Bad Strategy, he debunks these elements of “bad strategy” and awakens an understanding of the power of a “good strategy.” He introduces nine sources of power—ranging from using leverage to effectively focusing on growth—that are eye-opening yet pragmatic tools that can easily be put to work on Monday morning, and uses fascinating examples from business, nonprofit, and military affairs to bring its original and pragmatic ideas to life. The detailed examples range from Apple to General Motors, from the two Iraq wars to Afghanistan, from a small local market to Wal-Mart, from Nvidia to Silicon Graphics, from the Getty Trust to the Los Angeles Unified School District, from Cisco Systems to Paccar, and from Global Crossing to the 2007–08 financial crisis.
Reflecting an astonishing grasp and integration of economics, finance, technology, history, and the brilliance and foibles of the human character, Good Strategy/Bad Strategy stems from Rumelt’s decades of digging beyond the superficial to address hard questions with honesty and integrity.
All entrepreneurs and business leaders face similar frustrations—personnel conflict, profit woes, and inadequate growth. Decisions never seem to get made, or, once made, fail to be properly implemented. But there is a solution. It’s not complicated or theoretical. Based on years of real-world implementation in more than 100 companies, the Entrepreneurial Operating System® is a practical method for achieving the business success you have always envisioned.
In Traction, you’ll learn the secrets of strengthening the six key components of your business. You’ll discover simple yet powerful ways to run your company that will give you and your leadership team more focus, more growth, and more enjoyment. Successful companies are applying Traction every day to run profitable, frustration-free businesses—and you can too.
For an illustrative, real-world lesson on how to apply Traction to your business, check out its companion book, Get A Grip.
Strategy is about understanding where you are now, where you are heading and how you will get there. There is no room for timidity or confusion. Although the CEO and the board decide a company's overall direction, it is the managers at all levels of the organization who will determine how the vision can be transformed into action. In short, everyone is involved in strategy.
But getting it right involves difficult choices: which customers to target, what products to offer, and the best way to keep costs low and service high. And constantly changing business conditions inevitably bring risks. Even after business strategy has been developed, a company must remain nimble and alert to change, and view strategy as an ongoing and evolving process.
The message of this guide is simple: strategy matters, and getting it right is fundamental to business success.
This book covers strategy for organisations that operate more than one business, a situation commonly referred to as group-level or corporate-level strategy. Corporate-level strategy addresses four types of decisions that only corporate-level managers can make: which businesses or markets to enter, how much to invest in each business, how to select and guide the managers of these businesses, and which activities to centralise at the corporate level. This book gives managers and executive students all the tools they need to make and review effective corporate strategy across a range of organisations.
A Practical, Skills-oriented Approach to Strategic Management
In today’s economy, gaining and sustaining a competitive advantage is harder than ever. Strategic Management captures the complexity of the current business environment and delivers the latest skills and concepts with unrivaled clarity, helping students develop their own cutting-edge strategy through skill-developing exercises. The Sixteenth Edition has been thoroughly updated and revised with current research and concepts, and added exercises and review questions.
The case version of this text (0134422570 / 9780134422572 Strategic Management: A Competitive Advantage Approach, Concepts and Cases Plus MyManagementLab with Pearson eText -- Access Card Package, 16e) includes 30 new comprehensive, and up-to-date cases designed to help students apply chapter concepts as they develop a strategic plan for each featured company.
Also Available with MyManagementLab®
This title is also available with MyManagementLab–an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.
NOTE: You are purchasing a standalone product; MyManagementLab does not come packaged with this content. If you would like to purchase both the physical text and MyManagementLab search for:
013446723X / 9780134467238 Strategic Management: A Competitive Advantage Approach, Concepts Plus MyManagementLab with Pearson eText -- Access Card Package
Package consists of:0134153790 / 9780134153797 MyManagementLab with Pearson eText -- Access Card -- for Strategic Management: A Competitive Advantage Approach, Concepts 0134153979 / 9780134153971 Strategic Management: A Competitive Advantage Approach, Concepts
No other book synthesizes the entire history and evolution of strategic management in so lively and entertaining a fashion. Since the initial publication of Strategy Safari, managers, consultants, and academics all over the world have found this book an indispensable and delightful tool—it has been translated into more than ten languages, including Chinese, Russian, and French, and has been used in top MBA programs worldwide.
Strategy Safari makes sense of a field that often seems to make no sense. Mintzberg, Ahlstrand, and Lampel pair their sweeping vision of strategy making with an authoritative catalog in which they identify ten schools of strategy that have emerged over the past four decades.
Why struggle through the vast, confusing terrain of strategy formation? With clarity and depth, Strategy Safari maps the strategic landscape and facilitates intelligent, informed strategy formation.