- Book Review: The Art of Strategy
- Book Review: The Art of Strategy | Dave Concannon
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Book Review: The Art of Strategy
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Yet we know vastly more today than we did even a year ago about how corporate strategies should be crafted and implemented. What follows is an edited transcript of their remarks. Angus Dawson: Strategy is still a relatively young discipline.
Book Review: The Art of Strategy | Dave Concannon
And someone like McKinsey had a whole library of wonderful, powerful frameworks. The first one is empirics—common math applied to common data with common wisdom.
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And then finally you have to commit. Angus Dawson: Often with our clients, a good meeting is defined as a tidy meeting when people said what they were meant to say, it all went to plan, we stuck to the agenda, and everyone signed off.
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We have to actually think of designing a social process such that people can really grapple with the big ideas and come to grips with changing deeply held biases about what the company should do in the future. Most of the action happens up in the top quintile.
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Over 80 percent of companies who start there are still there ten years later. The companies that do escape the middle class have to do something very, very special. And they ordinarily are riding a huge industry trend to get into the top quintile. Resource allocation is fundamentally important in differentiating high performance from low performance, particularly on stock-market returns.