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📖 DAILY BOOK SUMMARIES 📖 🔗 DIRECT FREE E-BOOK DOWNLOAD LINK AVAILABLE — https://drive.google.com/file/d/18jBVqczAXKo4u9-ei8WTlO4RMzNaCt9-/view?usp=drivesdk 🔥 Good Strategy and bad Strategy 🔥 🚀 20 Lessons By 👉 ✨ Richard Rumelt ✨ 1. Good Strategy Has Clear Goals and Focus: • A good strategy identifies specific objectives and avoids trying to do everything; it focuses on what matters most. 2. Diagnose the Core Problem: • Effective strategy begins by identifying the root cause of challenges, not just surface issues. 3. Define a Guiding Policy: • Good strategy includes a guiding policy that sets the direction and creates a framework for decisions and actions. 4. Take Coherent Actions: • Strategy requires consistent and coordinated actions that align with the guiding policy to achieve desired outcomes. 5. Avoid Fluff and Buzzwords: • Bad strategy often uses vague or feel-good language that sounds impressive but lacks actionable substance. 6. Focus on Competitive Advantage: • Good strategy leverages strengths that provide a unique advantage over competitors, not just operational improvements. 7. Set Priorities to Overcome Key Challenges: • Recognize and address the most significant challenges with targeted solutions, rather than general improvements. 8. Adapt to Reality, Not Wishful Thinking: • Good strategy is realistic and responsive to actual conditions and constraints, rather than overly optimistic goals. 9. Embrace Trade-Offs: • Choosing a strategic path often means sacrificing certain opportunities in favor of others; don’t try to do it all. 10. Bad Strategy Lacks a Clear Direction: • A hallmark of bad strategy is vague or contradictory objectives that confuse rather than clarify. 11. Effective Strategy is Problem-Solving: • Good strategy is essentially a plan to overcome obstacles, addressing specific problems with actionable steps. 12. Good Strategy is Simple, Not Simplistic: • It should be straightforward enough to guide action but grounded in a deep understanding of complexity. 13. Bad Strategy Relies on Motivational Goals Alone: • Just setting ambitious goals without a plan doesn’t constitute a strategy; it lacks substance and actionability. 14. Good Strategy is Responsive to Change: • Adaptability is critical; good strategies adjust to shifting market conditions or unforeseen circumstances. 15. Beware of Template-Driven Strategies: • Bad strategies often rely on generic templates or processes that don’t address specific organizational needs. 16. Avoid Chasing Multiple Unrelated Goals: • A good strategy focuses on a cohesive set of priorities rather than scattering efforts across unrelated initiatives. 17. Balance Ambition with Realistic Resources: • Effective strategy considers available resources and capabilities, avoiding overextension.