Summer is a great time to disconnect from digital media and appreciate the feel and touch of paper books, deep diving into the thoughts, analysis, experiences, and beliefs of their authors, who relentlessly dedicate their own time to their future readers.
Personally, I like to combine educational, business and recreational literature, reading several books in parallel and listening to their audio versions when driving.
Here is my summer shelf:
1. “Good Strategy/Bad Strategy” by Richard Rumelt (finished)
2. “The Silk Roads: A New History of the World” by Peter Frankopan
3. “How the World Really Works: A Scientist’s Guide to Our Past, Present and Future” by Vaclav Smil
“Good Strategy/Bad Strategy”, 2011.
Richard Rumelt has vast academic and consulting experience in strategic management. In his book, he provides definitions of strategy and gives multiple examples of various business actors’ challenges to define or re-invent their strategies and organizations.
According to Dr. Rumelt, true strategy is not a simple collection of goals or a “shopping list” type set of actions, but rather a coherent and focused plan that addresses the fundamental challenges and opportunities a person or an organization faces. Many companies lack a clear understanding of their underlying problems and a plan to overcome them. He identifies this as “bad strategy,” which often leads to wasted efforts and missed opportunities.
Here are some quotes that stood out for me:
“A strategy is, like a scientific hypothesis, an educated prediction of how the world works.”
“Good strategy requires leaders who are willing and able to say no to a wide variety of actions and interests. Strategy is at least as much about what an organization does not do as it is about what it does.”
“The most basic idea of strategy is the application of strength against weakness. Or, if you prefer, strength applied to the most promising opportunity.”