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Thought Sparks

Rita McGrath & Richard Rumelt Professor Emeritus at UCLA Anderson - Thought Sparks

Jan 13, 2023
Richard Rumelt and Rita McGrath discuss strategy, innovation, and growth
01:02:24

Podcast summary created with Snipd AI

Quick takeaways

  • Effective strategy requires identifying and addressing specific challenges, not just stating goals.
  • A proper diagnosis forms the foundation of effective strategy, going beyond surface-level goals and understanding the nature of the problem.

Deep dives

Understanding the Epidemic of Bad Strategy

In this podcast episode, the guest discusses the prevalence of bad strategy. He highlights that in the past 20 years, the concept of strategy has been misunderstood, with many mistaking goals and ambitions for actual strategies. He emphasizes that a strategy should be about facing challenges and finding solutions, not just stating goals. He also discusses the importance of diagnosis, guiding policies, and coherent actions in evaluating a strategy. The guest shares insights from his book, The Crocs, which dives deeper into the essence of effective strategy.

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highlights

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