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Quote by Richard P. Rumelt

“A real strategy is not bottom up because it deals with issues that require unexpected or unusual types action, especially of coordination among units.”

Quote by Richard P. Rumelt

Author

Richard P. Rumelt

Richard P. Rumelt is an American author known for his works in the field of strategic management. His book 'Good Strategy, Bad Strategy' delves into the importance of strategy formulation and execution. more

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“The single most damaging misconception about strategy is that it is a set of financial performance goals. The so-called "strategies" created by many managements are nothing more than three-to-five year financial performance forecasts. They are then labeled "strategy" and shipped off to the board of directors which goes through the motions of discussing how big the numbers are. Strategy is not your aspirations. Strategy is concerned with how you will arrange your actions and resources to punch through the challenges you face.”

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“As I worked to explain how to avoid bad strategy, I began to see that one cannot really evaluate or criticize a strategy unless there is a fairly clear statement of the problem the strategy is trying to solve.”

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“A good strategy is not always successful, but even an "inappropriate" strategy may be an actual strategy. A "bad strategy" is one that doesn't even try to address an important challenge. Instead, it speaks of aspirations, visions of the future, lays out performance goals, or simply lists a bunch of unconnected actions.”

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“One of the problems many leaders report is a gap between strategy and execution. Usually this "gap" arises because the so-called "strategy" is a set of financial performance goals, not an approach to overcoming challenges. The two key ways to narrow this gap are to avoid bad strategies that fail to explain how to proceed and to establish a proximate objective - something which can be accomplished and which will open the door to further progress.”

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