When you try to execute on too many goals at once, you will find that your energies (and time) are spread way too thin and you accomplish very little towards your goals. “Good Strategy/ Bad Strategy pinpoints the polar difference: The diagnosis and actions that constitute good strategy, the fluff and failures that cause the bad. Good strategy leverages sources of power to overcome an obstacle. Create a solution to fix or overcome the problem. We continue our chess strategy series and look at another very important concept, that of the good vs bad bishops. Consider Rumelt’s four pitfalls to avoid a bad strategy: As you might imagine, there are many reasons for bad strategy.  Rumelt suggests that the underlying factor contributing to bad strategy is lack of commitment to the hard work.   Good strategy, results from investing the time to make the hard choices to gain focus, and identifying obstacles and working out how to deal with them. Richly illustrated and persuasively argued by a researcher, teacher, and consultant, Richard Rumelt has authored the playbook for anybody in a leadership position who must think and act strategically. Increased organizational value, improved financial performance and greater employee engagement are just a few of the potential paybacks. The ad represents an elusive balance of “so bad it’s good,” with moments hilariously awkward enough to be endearing, and the weird but … Posted in Book Reviews, Newsletter, Strategy Development. Articulating Strategy Objectives – The Good vs. You would think this is obvious to everyone, particularly cash-starved startups but I still see marketing plans going completely off the rails where marketers have lost sight of the real prize. This post is about using the approach in “Good Strategy Bad Strategy” to question, review and develop an organisation’s strategy. Not all debt is created equal. When a diagnosis classifies the situation as a certain type, it opens access to knowledge about how analogous situations were handled in the past…” Also if your bishop can only attack your own pawns and none of your opponent’s, then it’s a bad bishop. The truth is the chess game itself will tell you whether a bishop is a good bishop or a bad bishop. 2 comments on “ Good vs Bad Leadership ” Kimberly says: 2017/04/17 at 2:07 pm. This strategy must take into consideration your changing competition and customers. It does you no good to pursue the same strategies as your biggest competitor unless you are quite certain you can beat them at their own game. During their first meeting, the CEO of the company said he had a “20/20 plan” in mind, that he planned to use as the company’s fundamental strategy. If the game is closed, then bishops no longer are as valuable. While this document is specific in example to the United States, the same general rules apply for many countries, as they are based on evidentiar… Good Strategy, Bad Strategy pinpoints the polar difference: The diagnosis and actions that constitute good strategy, the fluff and failures that cause the bad. Whether you're an organization or an individual, we would love to work with you. Image by the author. In the next post, I’ll take a look at some of the most common forms of bad strategy. Is your strategy a mix of slogans and goals, or a set of objectives that offer solutions to key problems?  Richard Rumelt, in his forthcoming book to be released in the U.S., July 19th, Good Strategy/Bad Strategy: The Difference and Why It Matters, leverages 40 years of academic and strategy consulting experience. Â, Rumelt uses interesting stories and firsthand experiences to explain the logic of good strategy, while highlighting the pitfalls and fallacies you must avoid in bad strategy.  Rumelt states, “Bad strategy ignores the power of choice and focus, trying instead to accommodate a multitude of conflicting demands and interests. I'm a husband to an amazing & beautiful wife, and father to 4 wonderful children. This plan shows IT department where to go, which effect this will have on the business and how much money will be spent. Since the early 90s, the Balanced Scorecard (BSC) has been the gold standard for strategy execution and management. It does not disperse the organizations talents haphazardly. Dividing carbohydrates into good carbs and bad carbs is an easy way to think about good nutrition, but these are not exact, scientific terms. I believe the best way of highlighting the importance of having a good portfolio website is by comparing it to a bad one, and that’s exactly what we’re doing in this video. If you will follow the 4 steps above when you set the strategy for your organization, you will already be much closer to accomplishing your goals. When thinking about eating a healthy diet, eat whole grain, high fiber foods rather than enriched, low fiber foods. In other words, he planned for his firm’s revenues to increase 20% each year, and for its profit margin reach to achieve 20% or higher. Characteristics of good strategy Clarity of purpose, realistic goals Built on a thorough understanding of current reality Linkages between elements are self-evident Deeply understood across entire organisation Flexible, to adapt to changing circumstances KeyneLinkWeb™ Strategy Execution Management System, Envisio Strategy Execution and Reporting System. Call us at 229-375-5613 or contact us here. New comment system is up! Good strategy, results from investing the time to make the hard choices to gain focus, and identifying obstacles and working out how to deal with them. If you’ve ever sat down at the beginning of the year to lay out your goals, you know how easily your list of goals can grow out of hand. Bad strategic objectives. A bad strategy can be more detrimental than having no strategy at all. Create action steps and make someone accountable for carrying out each step of the solution. 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