Summary of Richard P. Rumelt's The Crux
Summary of Richard P. Rumelt's The Crux

Author: Everest Media,

Publisher: Everest Media LLC

Published: 2022-05-21T22:59:00Z

Total Pages: 52

ISBN-13:

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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.

Summary of Richard P. Rumelt's The Crux
Summary of Richard P. Rumelt's The Crux

Author: Milkyway Media

Publisher: Milkyway Media

Published: 2024-02-28

Total Pages: 27

ISBN-13:

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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.

The Crux
The Crux

Author: Richard P. Rumelt

Publisher: Hachette UK

Published: 2022-05-03

Total Pages: 339

ISBN-13: 1541701267

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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.

Good Strategy Bad Strategy
Good Strategy Bad Strategy

Author: Richard Rumelt

Publisher: Currency

Published: 2011-07-19

Total Pages: 338

ISBN-13: 0307886239

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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.

Playing to Win
Playing to Win

Author: Alan G. Lafley

Publisher: Harvard Business Press

Published: 2013

Total Pages: 274

ISBN-13: 142218739X

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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.

Fundamental Issues in Strategy
Fundamental Issues in Strategy

Author: Richard P. Rumelt

Publisher: Harvard Business Press

Published: 1995

Total Pages: 636

ISBN-13: 9780875846453

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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.

The Unicorn Within
The Unicorn Within

Author: Linda K. Yates

Publisher: Harvard Business Press

Published: 2022-10-25

Total Pages: 559

ISBN-13: 1633698696

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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.

The Frictionless Organization
The Frictionless Organization

Author: Bill Price

Publisher: Berrett-Koehler Publishers

Published: 2022-06-21

Total Pages: 300

ISBN-13: 1523000155

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Learn how frictionless organizations cut costs, grow revenue, and create loyal fans by creating products and services that work so well, their customers never have to contact them for the wrong reasons. This book will help any customer-facing organization deliver better customer experiences, save money, and increase revenue. Veteran customer service experts Bill Price and David Jaffe, coauthors of the bestseller The Best Service Is No Service, explain how organizations can design products, sales, and support so that customer effort is reduced or, better still, removed. This simplicity for the customer is what Price and Jaffe call frictionless. The book defines a straightforward methodology, drawing on more than thirty practical examples from leading companies across four continents. The approach provides a radically different way for the whole business to focus on the customer experience. It explains how any organization can look at all customer interactions as potential opportunities for improvement and question whether they are helpful or represent symptoms of friction. Lower friction innovators are disrupting established businesses in every industry. This detailed guide shows how any business-from start-ups to major multinational corporations-can remove friction. Being frictionless has become a strategic necessity, and now this strategy is available to any organization.

101 Design Methods
101 Design Methods

Author: Vijay Kumar

Publisher: John Wiley & Sons

Published: 2012-10-11

Total Pages: 341

ISBN-13: 1118330242

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The first step-by-step guidebook for successful innovation planning Unlike other books on the subject, 101 Design Methods approaches the practice of creating new products, services, and customer experiences as a science, rather than an art, providing a practical set of collaborative tools and methods for planning and defining successful new offerings. Strategists, managers, designers, and researchers who undertake the challenge of innovation, despite a lack of established procedures and a high risk of failure, will find this an invaluable resource. Novices can learn from it; managers can plan with it; and practitioners of innovation can improve the quality of their work by referring to it.

Strategy Beyond the Hockey Stick
Strategy Beyond the Hockey Stick

Author: Chris Bradley

Publisher: John Wiley & Sons

Published: 2018-02-06

Total Pages: 256

ISBN-13: 1119487625

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Beat the odds with a bold strategy from McKinsey & Company "Every once in a while, a genuinely fresh approach to business strategy appears" —legendary business professor Richard Rumelt, UCLA McKinsey & Company's newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies. Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy's real odds of future success. "This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development." —Frans Van Houten, CEO, Royal Philips N.V. The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company's current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition. This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia. "A different kind of book—I couldn't put it down. Inspiring new insights on the facts of what it takes to move a company's performance, combined with practical advice on how to deal with real-life dynamics in management teams." —Jane Fraser, CEO, Citigroup Latin America