Newsletters: Understanding good strategy and bad strategy

Edited by Joyce Yoo
Editor, New York

What is strategy? Business leaders are often focused on ambitions and achieving results—and less about developing an action plan, according to Richard Rumelt, professor at the UCLA Anderson School of Management. But strategy is a journey that one takes by solving problems, he says. "It is how you overcome the obstacles that stand between where you are and what you want to achieve," and the "gap between action and ambition is where most bad strategies come from." Get into a problem-solving mindset and tune into a recent episode of the Inside the Strategy Room podcast to hear his conversation with McKinsey senior partner Yuval Atsmon and see how companies should reimage strategy amid a rapidly changing world.

Why bad strategy is a 'social contagion'

Author and academic Richard Rumelt explains how to develop strategies that aim to solve problems rather than simply state ambitions.

Solve problems

Quote of the day

"What we find is when people hit the brakes, become short-termistic, and become very reactive, they're no longer able to control their own destiny—be it as an organization, as a leader, or even as a parent."

—Ari Wallach, founder and executive director of the futurist think tank Longpath Labs, on why it's important to focus on the long term in a recent Author Talks interview

Chart of the day

Chart showcasing which various financial services are underserving Black communities

See today's chart

ALSO NEW

Audience Applauding Speaker After Conference Presentation

Follow our thinking

Share these insights

Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.

This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy.

You received this email because you subscribed to the Daily Read newsletter.

Manage subscriptions | Unsubscribe

Understanding good strategy and bad strategy

Why bad strategy is a 'social contagion'

﻿"What we find is when people hit the brakes, become short-termistic, and become very reactive, they're no longer able to control their own destiny—be it as an organization, as a leader, or even as a parent."

What workers want is changing. That could be good for government

Reimagining Mexico's chemical industry

The Great Reset: North American asset management in 2022

No comments:

"What we find is when people hit the brakes, become short-termistic, and become very reactive, they're no longer able to control their own destiny—be it as an organization, as a leader, or even as a parent."