Business Archives

Good Strategy, Bad Strategy: Quotes by Richard Rumelt

Are you looking for Good Strategy, Bad Strategy quotes by Richard Rumelt? What are some of the most noteworthy passages worth revisiting? Richard Rumelt is one of the world’s foremost thinkers on strategy, having guided organizations ranging from small, entrepreneurial start-ups to large, multinational conglomerates, as well as several governments and the U.S. Department of Defense. In Good Strategy Bad Strategy, he lays out the essential components of good strategy and the faulty thinking behind bad strategy. The following Good Strategy, Bad Strategy quotes highlight his key points.

Obsession With Success: The Key to Becoming Rich?

Obsession with Success: The Key to Becoming Wealthy

What does it mean to have an obsession with success? Is obsession necessary for becoming wealthy? An obsession with success is an overriding desire to stake everything towards achieving a specific goal. Obsession is key to success because mere hopes and desires cannot give you the hunger you need to succeed. Read on to discover the importance of having an obsession with success.

How to Recognize a Bad Strategy in Business

How does one tell a bad strategy from a good one? What are the signs that your business is operating under a misguided strategy? According to author and UCLA management professor Richard Rumelt, there are four elements that can signal a misguided strategy: 1) fluff, 2) failure to identify the challenge, 3) conflation of goals with strategy, and 4) misguided strategic objectives. The effects of bad strategy can be seen in everything from the failures of corporations to the poor performance of our educational system. Keep reading to examine four elements that can create a misguided strategy.

Marketing Yourself: How to Sell Your Services Effectively

What are the secrets to marketing yourself effectively? How will you recognize the new improvements in how you market yourself? You can improve how you are marketing yourself by improving the quality and quantity of the services you offer. You must also boost the spirit of your business interactions by being pleasant with everyone you work with. Yearly self-analysis will help you track how well you are improving as a marketer. Read on to learn more about the secrets of marketing yourself effectively.

The Complete Guide to Organizational Goals

Why do you need goals for your organization? What are the best tips and strategies for setting and achieving organizational goals? Every organization wants to succeed, and organizational goals define what success means for you. Many business books cover how to set goals and objectives and this comprehensive guide brings together all of the best advice from these books. Keep reading for our complete guide to organizational goals.

How to Develop a Business Strategy: Best Advice

Do you want to learn how to develop a business strategy? What factors should you take into account when designing a big-picture strategy for your business? According to Richard P. Rumelt, the author of Good Strategy, Bad Strategy, your business strategy must be designed in such a way so as to capitalize on the key strengths of your organization. Once you’ve identified your strengths, figure out how you can them to increase your competitive advantages. You can do this by leveraging your strengths onto one pivot point, and by pressing your advantages by increasing them, broadening their influence, or increasing

The Carrot and Stick Method: Rethinking Motivation

What is the carrot and stick method when it comes to the workplace? Why doesn’t this method work in the modern day? The carrot and stick method is when somebody hangs a carrot in front of a donkey and jabs it with a stick to get it to move. This approach is often applied in the workforce—although not with literal carrots and sticks. Author Paul Marciano asserts that trying to motivate employees with financial incentives (carrots) is not the best way to promote good work habits. Keep reading learn why Marciano thinks financial incentives are outdated.

How L. David Marquet Turned the Ship Around

What did L. David Marquet do when he first took command of a submarine? What leadership lessons did he get a chance to put into action? Today, L. David Marquet is known as a remarkable leader who turned things around for a demoralized submarine crew. He did this by putting into action the leadership lessons he learned in his early years in the Navy. The primary lesson was realizing that everyone can think and act like a leader. Read more to learn what L. David Marquet did in the first few months of his new command.

Strategic Management: Strategy Design and More

What exactly is strategic management? How do businesses develop strategies? What goes into a business strategy? In the most basic terms, strategic management involves setting objectives and devising strategies to attain them. According to Richard P. Rumelt, one of the most influential thinkers and strategic management and strategy design, a good organizational strategy must have a “kernel”—an underlying structure consisting of three components: 1) diagnosis, 2) guiding policy, and 3) action plan. Read more about the two primary truths about an organizational strategy and the kernel at the heart of any good strategy.

How to Instill a Proactive Mindset in Your Team

How can you develop leaders by helping them have a proactive mindset? How can a change in language make a big difference? A proactive mindset helps people take ownership in their work. It goes hand in hand with authority to make decisions and promote progress. It can be as simple as declaring an intention to do something—rather than asking permission or waiting to be told to do it. Read more to learn how to instill a proactive mindset in your team members.