Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Good Strategy, Bad Strategy summary
Richard Rumelt
The Difference and Why It Matters
21 mins
Brief summary
'Good Strategy, Bad Strategy' by Richard Rumelt explains the difference between good and bad strategies and how to create effective strategies that achieve goals. It provides real-world examples and practical insights.
Topics
Table of Contents
Good Strategy, Bad Strategy
Summary of 10 key ideas
Audio & text in the Blinkist app
Key idea 1 of 10
Don’t confuse strategy with ambitious goal setting, visions or slogans.
So what is a strategy, exactly?
Consider this: the “2005 key strategy” of a major graphic arts company was a 20 percent revenue increase and a 20 percent profit margin. Does this sound like a good strategy to you?
The short answer: No. In fact, these are simply goals – far removed from a working strategy.
A vision or a goal is simply a stand-alone idea. A strategy, however, is a set of different ideas that includes a plan to achieve these goals.
Often a goal or a vision can be a perfectly fine starting point for a strategy. However, the strategy itself must include precise information on how these goals will actually be achieved.
For example, if your football coach advises your team to win the next game, he isn’t providing you with any useful information unless he tells you how to win. In other words, he must provide a plan of action – a strategy.
It’s not only our goals that are often mistaken for strategies; motivational slogans and buzzwords sometimes get passed off as strategies too.
This is usually made obvious by an absence of clear, simple words. In these cases, “fluff” – superficially restating the obvious while applying a heaping portion of buzzwords – takes on the appearance of high-level thinking.
The fundamental strategy of one major retail bank is a perfect example – in their own words, they offered “customer-centric intermediation.”
Let’s unpack this, shall we? “Intermediation” means simply that they take deposits and lend them to others, and “customer-centric” means that they focus on the customer.
By taking the fluff and unraveling it into simple, meaningful language for the layman, we quickly discover that their “fundamental strategy” for banking was simply “be a bank!”
What’s missing in both these business examples is a plan of action. Essentially, if you have no plan of action, then you don’t have strategy.
Want to see all full key ideas from Good Strategy, Bad Strategy?
Key ideas in Good Strategy, Bad Strategy
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Good Strategy, Bad Strategy about?
Good Strategy, Bad Strategy dissects good strategies by using historical examples from a variety of fields, and offers insight into developing our own effective strategies through practical advice and a solid blueprint.
This is a Blinkist staff pick
“My boss kept asking me, “Emily, what’s your strategy?” and I kept coming up empty (#truestory). This title is a smart start to wrapping your head around what it means to build an effective strategy and do good work to reach your goals.”
– Emily, Community & Engagement Marketing at Blinkist
Good Strategy, Bad Strategy Review
Good Strategy, Bad Strategy (2011) by Richard Rumelt is a must-read for anyone interested in strategic thinking and decision-making. Here are three reasons why this book is special and interesting:
- The book provides practical insights and valuable strategies for developing effective plans and achieving goals.
- Backed by extensive research and real-world examples, it offers a clear understanding of what differentiates good strategy from bad strategy.
- Through its compelling analysis of various case studies, the book helps readers develop critical thinking skills and enhances their ability to make informed strategic choices.
Best quote from Good Strategy, Bad Strategy
Good strategy and good organization lie in specializing in the right activities and imposing only the essential amount of coordination.
—Richard Rumelt
Who should read Good Strategy, Bad Strategy?
- Anyone interested in the different ways in which strategy can be applied to different fields
- Anyone who has to make solid strategic decisions
- Anyone interested in the history of business strategy
Categories with Good Strategy, Bad Strategy
Book summaries like Good Strategy, Bad Strategy
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
33 Million
Downloads on all platforms
10+ years
Experience igniting personal growth
Good Strategy, Bad Strategy FAQs
What is the main message of Good Strategy, Bad Strategy?
The main message of Good Strategy, Bad Strategy is that a good strategy requires a clear diagnosis, a guiding policy, and a set of coordinated actions.
How long does it take to read Good Strategy, Bad Strategy?
The reading time for Good Strategy, Bad Strategy varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.
Is Good Strategy, Bad Strategy a good book? Is it worth reading?
Good Strategy, Bad Strategy is worth reading as it provides valuable insights into the essentials of effective strategy and practical examples to support the concepts.
Who is the author of Good Strategy, Bad Strategy?
The author of Good Strategy, Bad Strategy is Richard Rumelt.
What to read after Good Strategy, Bad Strategy?
If you're wondering what to read next after Good Strategy, Bad Strategy, here are some recommendations we suggest:
- The New Strategist by Günter Müller-Stewens
- Myths of Strategy by Jérôme Barthélemy
- The Innovator’s Dilemma by Clayton Christensen
- High Output Management by Andrew S. Grove
- Blue Ocean Strategy by W. Chan Kim
- Move by Patty Azzarello
- Playing to Win by A.G. Lafley & Roger L. Martin
- Start With Why by Simon Sinek
- Crossing the Chasm by Geoffrey A. Moore
- Measure What Matters by John Doerr