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Good vs Bad Strategies
Strategies
are developed to achieve Goals. It is
not known at the outset whether the goal is an achievable goal or just a pie in
the sky wishful thinking. Knowledge
about the hallmarks of good and bad strategies would allow us to steer clear of
bad strategies from the outset. Strategy
development is very context dependent but the general principles of good
strategies still apply. The corporate
world in general is littered with companies that have pursued both good and bad
strategies to further their businesses, and have led either to their success or
demise. The discussion on good
strategies vs bad strategies will give some grounding for the formulation of
workable good strategies. The document
is organized into three broad sections – Hallmarks of Bad Strategies, Underpinnings
of Good Strategies, Strategic tools in use to analyse businesses. The discussion on the Good vs Bad strategies
and the Strategic tools have generously borrowed content from two books: “Good
Strategy, Bad Strategy, The Difference and Why it matters” by Richard Rumelt
and “Lords of Strategy” by Walter Kiechel.
I am not delivering any new content but just summarizing content from
these books and summaries are sometimes useful as a quick guide. I would recommend readers to go through these
two books if they find the summaries interesting.
