I learned the difference between a good business strategy and a bad business strategy (you could have guessed that from the title).
Idea: Bad Strategy is Vague and Ambiguous
Bad strategy skips over those annoying (yet important) details such as the actual problem. It ignores the need to focus on the best option and tries to accommodate a multitude of conflicting demands and interests.
As Rumelt states:
“Like a quarterback whose only advice to teammates is “Let’s win,” bad strategy covers up its failure to guide by embracing the language of broad goals, ambition, vision, and values.”
If you want more, you can click here to read a summary of Good Strategy, Bad Strategy by Richard Rumelt here today.
(you’ll need to create a free account first at the read it to me site)