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|Wednesday, July 27, 2011|
I just read one of the most important short papers on corporate strategy, published by McKinsey Quarterly. In "The Perils of Bad Strategy," Richard Rumelt explains common errors in developing corporate strategy. It's based on his forthcoming book.
The hallmarks of bad strategy, he says, are:
If you're corporate strategy resembles these hallmarks of failure, read Rumelt's final section on the kernel of good strategy. It will get you headed in the right direction. Then, at every step, review the potential mistakes, and ensure that you're not making them.
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