Beat the odds with a bold strategy from McKinsey & Company
“Every once in a while, a genuinely fresh approach to business strategy appears”
—legendary business professor Richard Rumelt, UCLA
McKinsey & Company’s newest, most definitive, and most irreverent book on strategy—which thousands of executives are already using—is a must-read for all C-suite executives looking to create winning corporate strategies.
Strategy Beyond the Hockey Stick is spearheading an empirical revolution in the field of strategy. Based on an extensive analysis of the key factors that drove the long-term performance of thousands of global companies, the book offers a ground-breaking formula that enables you to objectively assess your strategy’s real odds of future success.
“This book is fundamental. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development.”
—Frans Van Houten, CEO, Royal Philips N.V.
The authors have discovered that over a 10-year period, just 1 in 12 companies manage to jump from the middle tier of corporate performance—where 60% of companies reside, making very little economic profit—to the top quintile where 90% of global economic profit is made. This movement does not happen by magic—it depends on your company’s current position, the trends it faces, and the big moves you make to give it the strongest chance of vaulting over the competition.
This is not another strategy framework. Rather, Strategy Beyond the Hockey Stick shows, through empirical analysis and the experiences of dozens of companies that have successfully made multiple big moves, that to dramatically improve performance, you have to overcome incrementalism and corporate inertia.
“A different kind of book—I couldn’t put it down. Inspiring new insights on the facts of what it takes to move a company’s performance, combined with practical advice on how to deal with real-life dynamics in management teams.”
—Jane Fraser, CEO, Citigroup Latin America
From the Publisher
If you internalize the real odds of strategy, you can tame its social side and make big moves
Strategy Beyond the Hockey Stick explores in depth the social dynamics that undermine strategic dialogue and breed incrementalism. It also underscores the real, and very challenging, odds of crafting strategies that will lead to dramatic performance improvement. For example, over a decade, only 8 percent of companies manage to jump from the middle of the pack—the roughly 60 percent of the world’s largest corporations that barely eke out any economic profit—to the top quintile, where almost all the economic profit accrues. Underpinning many of those successful strategies are big moves such as dramatic resource reallocation, disciplined M&A, and radical productivity improvement.
Developing a great strategy starts with changing the dynamics in your strategy room
Several times a year, top management teams enter the strategy room with lofty goals and the best of intentions: they hope to assess their situation and prospects honestly, and mount a decisive, coordinated response toward a common ambition. Then reality intrudes. By the time they get to the strategy room, they find it is already crowded with egos and competing agendas. Jobs—even careers—are on the line, so caution reigns. The budget process intervenes, too. You may be discussing a five-year strategy, but everyone knows that what really matters is the first-year budget. So, many managers try to secure resources for the coming year while deferring other tough choices as far as possible into the future.
More Lessons from Strategy Beyond the Hockey Stick
On sharing a vision and common goals
More Lessons from Strategy Beyond the Hockey Stick
On the importance of research and data
More Lessons from Strategy Beyond the Hockey Stick
On following the trends and taking action
More Lessons from Strategy Beyond the Hockey Stick
On incentivizing and empowering employees
Collaboration & Shared Goals
Data & Statistics
Trends & Results
Motivation & Engagement
ASIN : B078YH2W7H
Publisher : Wiley
Accessibility : Learn more
Publication date : January 10, 2018
Edition : 1st
Language : English
File size : 8.4 MB
Screen Reader : Supported
Enhanced typesetting : Enabled
X-Ray : Not Enabled
Word Wise : Enabled
Print length : 257 pages
ISBN-10 : 9781119487609
ISBN-13 : 978-1119487609
Page Flip : Enabled
Best Sellers Rank: #921,576 in Kindle Store (See Top 100 in Kindle Store) #458 in Strategic Business Planning #915 in Business Systems & Planning #980 in Systems & Planning
Customer Reviews: 4.4 4.4 out of 5 stars (764)