Summary of Richard P. Rumelt's The Crux PDF Download
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Author: Everest Media,
Publisher: Everest Media LLC
ISBN:
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 A strategy is a mixture of policy and action designed to surmount a high-stakes challenge. It is not a goal or wished-for end state. It is a form of problem solving, and you cannot solve a problem you do not understand or comprehend. #2 The great missing piece in the foundation of almost all writings and teachings about strategy is a weakness well captured more than a decade ago by strategy authority Gary Hamel: Of course, everyone knows a strategy once they see one—be it Microsoft’s, Nucor’s, or Virgin Atlantic’s. #3 The key steps in dealing with a strategic challenge are a diagnosis of the situation, finding the crux, and then creating reasonable action responses. To take a closer look at these steps, I am going to look at the situation Netflix faced in early 2018. #4 In 2011, Netflix faced a significant upset. It had been paying $30 million per year to Starz for access to its shows. At contract renewal, Starz asked for an increase to $300 million per year. Netflix had to raise subscription fees by 60 percent.
Author: Everest Media,
Publisher: Everest Media LLC
ISBN:
Category : Business & Economics
Languages : en
Pages : 52
Get Book Here
Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 A strategy is a mixture of policy and action designed to surmount a high-stakes challenge. It is not a goal or wished-for end state. It is a form of problem solving, and you cannot solve a problem you do not understand or comprehend. #2 The great missing piece in the foundation of almost all writings and teachings about strategy is a weakness well captured more than a decade ago by strategy authority Gary Hamel: Of course, everyone knows a strategy once they see one—be it Microsoft’s, Nucor’s, or Virgin Atlantic’s. #3 The key steps in dealing with a strategic challenge are a diagnosis of the situation, finding the crux, and then creating reasonable action responses. To take a closer look at these steps, I am going to look at the situation Netflix faced in early 2018. #4 In 2011, Netflix faced a significant upset. It had been paying $30 million per year to Starz for access to its shows. At contract renewal, Starz asked for an increase to $300 million per year. Netflix had to raise subscription fees by 60 percent.
Author: Milkyway Media
Publisher: Milkyway Media
ISBN:
Category : Study Aids
Languages : en
Pages : 27
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Book Description
Buy now to get the main key ideas from Richard P. Rumelt's The Crux According to strategy expert Richard P. Rumelt, leaders become effective strategists when they focus on immediate, addressable challenges that promise the greatest progress. In The Crux (2022), Rumelt draws on his experience as a consultant, contrasting the breakthrough success of businesses that identify and address core issues with those that focus mainly on goals and financial targets. He advocates for adopting a challenge-based approach to strategy development and taking decisive, coherent action to tackle complex situations.
Author: Richard P. Rumelt
Publisher: Hachette UK
ISBN: 1541701267
Category : Business & Economics
Languages : en
Pages : 339
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Book Description
Financial Times, Best Business Books of 2022 Forbes, Best Business Books of 2022 The Next Big Idea Club, Best Leadership Books of 2022 The Globe & Mail, Best Management Books of 2022 The paradigm-busting theory for doing strategy. What passes for strategy in too many businesses, government agencies, and military operations is a toxic mix of wishful thinking and a jumble of incoherent policies. Richard P. Rumelt’s breakthrough concept is that leaders become effective strategists when they focus on challenges rather than goals, pinpointing the crux of their pivotal challenge—the aspect that is both surmountable and promises the greatest progress—and taking decisive, coherent action to overcome it. Rumelt defines the essence of the strategist’s skill with vivid storytelling, from how Elon Musk found the crux that propelled the success of SpaceX to how the American military came to grips with the weaknesses of its battle strategy. Musk’s core challenge, for example, was rocket reusability. His intense focus on the soft landing of SpaceX’s rockets enabled them to be used again—radically reducing the cost of putting a pound in orbit. Musk’s strategy was not based on how value is created or how to position SpaceX in its industry. It was a design foraction, the mental maneuver that focuses energy on what really made a difference through understanding the crux and creating an effective response that led to breakthrough.
Author: Richard Rumelt
Publisher: Crown Currency
ISBN: 0307886239
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
Good Strategy/Bad Strategy clarifies the muddled thinking underlying too many strategies and provides a clear way to create and implement a powerful action-oriented strategy for the real world. 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.
Author: Alan G. Lafley
Publisher: Harvard Business Press
ISBN: 142218739X
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
Explains how companies must pinpoint business strategies to a few critically important choices, identifying common blunders while outlining simple exercises and questions that can guide day-to-day and long-term decisions.
Author: Richard P. Rumelt
Publisher: Harvard Business Press
ISBN: 9780875846453
Category : Business & Economics
Languages : en
Pages : 636
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Book Description
The result is a compelling reexamination of strategic management that urges scholars to refocus their efforts now - and sets a research agenda for the coming decade.
Author: Linda K. Yates
Publisher: Harvard Business Press
ISBN: 1633698696
Category : Business & Economics
Languages : en
Pages : 559
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Book Description
Imagine if the multinational hotel groups had founded Airbnb, or the big auto companies had launched Uber and Tesla, or Blockbuster had created Netflix. Large companies can start new ventures. You have ideas, talent, brand, capital—you have customers—you can strike back. In The Unicorn Within, Mach49 founder and CEO Linda Yates empowers large companies to beat startups at their own game—to build a pipeline and portfolio of new ventures to drive meaningful growth. How? With a teachable, repeatable, scalable method focused 100 percent on execution across the spectrum of venture creation from Ideate to Incubate, Accelerate, and Scale. She also offers keys to managing the Mothership and seizing the Mothership advantage to ensure your ventures reach escape velocity and thrive. And don't stop at just one venture. Yates also lays out her blueprint for building a Venture Factory capable of becoming your company's growth engine for years to come. The next Unicorns don't have to come from Silicon Valley. Regardless of your company's industry, geography, or history, they can come from you. Whether you're the CEO, a member of the C-suite, or an internal entrepreneur, you can help your company grow. With this book's proven method, you can unleash the Unicorn within.
Author: Irene M. Duhaime
Publisher: Oxford University Press
ISBN: 019009091X
Category : Business & Economics
Languages : en
Pages : 785
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Book Description
An authoritative overview of the prior development, current state, and future opportunities in strategic management The strategic management field, now a vibrant arena that offers valuable knowledge for managerial practice, has experienced significant growth in the more than forty years since its inception. And, until now, there has not been a book that captured the rich breadth and depth of knowledge of the discipline, while also looking to the future. Strategic Management provides a critical overview of the prior development, current state, and future opportunities in the strategic management field. Editors Irene M. Duhaime, Michael A. Hitt, and Marjorie A. Lyles bring together an exceptional group of scholars to explore specialized topics such as corporate strategy, strategic entrepreneurship, cooperative strategies, global strategy, strategic leadership, governance, innovation, strategy process and strategy practice, and strategic human capital. The book focuses heavily on the future developments and research opportunities available in the field, while also providing a solid base of knowledge for understanding strategic management as a whole. With articles from major leaders in the field, this authoritative volume will be useful to every strategic management scholar.
Author: Rosemary Stewart
Publisher: Routledge
ISBN: 1136011137
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
The Reality of Management, now in its third edition, carves a clear course through the fads and fashions of management theory providing the manager with a practical and usable guide to managing effectively. First published in the 1960s, this thoroughly revised and updated edition finds the fundamentals of managing remain the same. It provides a unique long perspective on current managerial fashions, on the evidence of their utility and distinguishing what is new from what is reinvention. The Reality of Management is addressed to all managers who wish to learn more about their jobs for the practical reason of becoming better managers and to all students who seek to learn something of the realities of management.
Author: Pankaj Ghemawat
Publisher: Simon and Schuster
ISBN: 1439106177
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
To create a competitive advantage, a company must commit itself to developing a set of capabilities superior to its competitors; But such commitments tend to be costly and hard to reverse. How then, should a company decide which broad path, or strategy, to commit itself to? And how are competition and uncertainty to be accounted for in that decision? In this brilliant reassessment of how companies gain and sustain competitive advantage, Pankaj Ghemawat consolidates contemporary research in economics and other disciplines into a comprehensive yet practical framework for comparing commitments to strategically distinct options. This framework will help managers address specific strategic choices such as entry, exit, vertical/horizontal integration, capacity expansion, and innovation, as well as choices of generic strategy. Step by systematic step, Ghemawat provides managers with the tools and techniques they need to improve the quality of the choices that they make. Specifically, Ghemawat discusses: * how to identify the choices that are truly strategic -- that involve commitment -- before rather than after the fact * how to analyze the short-run and long-run competitive positions implied by a particular strategic option * how to assess the sustainability of superior competitive positions over time * how to account for the flexibility afforded by a particular option in dealing with future uncertainties * how to deal with both honest mistakes and deliberate distortions in the process of choice This pathbreaking book will help managers invest in the future. Its logic applies to choices involving disinvestment as well as those involving investment -- and to choices that embody elements of both. Its logic can be used for diagnostic purposes, such as the valuation of business, and most broadly, it win force managers to think about important issues that they may have tended to ignore. Ghemawat's discussion of these important ideas is concise, studded with detailed examples, based on rigorous research and, above all, practical. It will become required reading for thoughtful practitioners as well as practitionersto-be in the 1990s.
