253: Richard Rumelt, How to solve the crux

Welcome to Strategy Skills episode 253, an episode with Emeritus Professor at UCLA Anderson, Richard Rumelt.

Get Richard’s book here: https://amzn.to/3OrNfuK

In this episode, Richard iterated the real meaning of strategy, which many companies today confuse with a list of their goals and ambitions. Strategy is problem-solving – a clever way of dealing with a challenge, opponent, or problem. It also involves selecting which battle you fight because you cannot fight them all. As a great strategist, you need to select battles that you can win.

Richard also explained the crux or the biggest challenge that companies need to identify, emphasize, and concentrate their resources on until it is fixed or solved. As Richard mentioned in this episode, “the primary thing about strategy is that it is about a concentration of resources. It is about focus.”

Richard Rumelt received his doctorate from the Harvard Business School in 1972, having previously earned a Master of Science in electrical engineering from UC Berkeley. He worked as a systems engineer at the Jet Propulsion Laboratories and served on the faculty of the Harvard Business School. He joined the UCLA faculty in 1976. He also served as a faculty at INSEAD, France for three years. At INSEAD, Rumelt headed the Corporate Renewal Initiative, a research-intervention center devoted to the study and practice of corporate transformation.

Rumelt was president of the Strategic Management Society from 1995 to 1998. He received the Irwin Prize for his book Strategy, Structure, and Economic Performance. In 1997, he was appointed Telecom Italia Strategy Fellow, a position he held until April 2000. He has won teaching awards at UCLA and received a best paper prize in 1997 from the Strategic Management Journal.

Get Richard’s book here:

The Crux: How Leaders Become Strategists, Richard Rumelt: https://amzn.to/3OrNfuK

Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

Episoder(499)

173: What is the ROI? Author Program Q&A 3

173: What is the ROI? Author Program Q&A 3

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

20 Sep 202110min

172: Charlene Li, Grow your business via disruption

172: Charlene Li, Grow your business via disruption

Welcome to Strategy Skills episode 172, an episode with a sought-after public speaker and an influential thought-leader, Charlene Li. Get Charlene's new book here: https://amzn.to/2XhSdFv Charlene Li is a guide on digital transformation, leadership, customer experience, and the future of work. Her career is focused on helping people see the future and thrive with disruption. She is currently a Senior Fellow at Altimeter, a Prophet company. In this episode, Charlene talked about how disruption serves as a key element in order for a company to determine their future and set their path to growth. For those who wants to learn more on how to advance through the future, this is for you. THE DISRUPTION MINDSET: Why Some Organizations Transform While Others Fail. Charlene Li: https://amzn.to/2XhSdFv Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

15 Sep 202156min

171: April Rinne, Rethinking humanity's beliefs

171: April Rinne, Rethinking humanity's beliefs

Welcome to Strategy Skills episode 171, an episode with one of the world's leading female futurists, April Rinne. Get April's new book here: https://amzn.to/38iGhFp April Rinne is a navigator in a world of flux. She is guiding individuals and organization operate in these fast-paced changing times. Her solo travels to over 100 countries in a span of 25 years has developed her to see how the world changes and how the trends will be set in the future. April is a well-known advisor of startups, companies, financial institutions, non-profits, think tanks and government agencies around the globe. In this episode, April talked about a few key points that would make us rethink our views and help us be prepared for what's coming in the future. For those who wants to better understand uncertainties in order to anticipate and adapt to what's ahead of us, this is for you. FLUX: 8 Superpowers for Thriving in Constant Change. April Rinne: https://amzn.to/38iGhFp Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

14 Sep 202154min

170: Gary Hamel, Everyone should be the manager

170: Gary Hamel, Everyone should be the manager

Welcome to Strategy Skills episode 170, an episode with one of the world's most influential and innovative business thinkers, Gary Hammel. Get Gary's new book here: https://amzn.to/3DkAvRZ Gary Hammel is the founder of the international consulting firm Strategos and the Director of the Woodside Institute. He has worked with top companies around the world and is a sought-after management speaker. Throughout his career, he has helped numerous companies in designing and building innovation-friendly management practices, tools and platforms. His concepts of "strategic intent", "core competence", "industry revolution" and "management innovation" have changed the management of organizations worldwide. He's been teaching at the London Business School for over 30 years now as a Visiting Professor. In this episode, Gary talked about how some of the largest companies in the world has gone ahead of their competition by implementing radical changes inside their respective organizations. For those leaders who also want to have a drastic improvement in their companies, this is for you. HUMANOCRACY: Creating Organizations as Amazing as the People Inside Them. Gary Hammel: https://amzn.to/3DkAvRZ Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

9 Sep 20211h 9min

169: Tom Eisenmann, Startups and their wrong decisions

169: Tom Eisenmann, Startups and their wrong decisions

Welcome to Strategy Skills episode 169, an episode with the Howard Stevenson Professor of Business Administration of Harvard Business School, Tom Eisenmann. Get Tom's new book here: https://amzn.to/3Dmxqkl Tom Eisenmann, as a Harvard Business School professor for the past 24 years, has guided over a thousand Harvard Business students and alumni as they launch new ventures up to their success. But not every startup story is like this. In this episode, Tom talked about a glimpse of his new book  where he carried out numerous case studies about failed startups. And from these, he found 6 patterns why a lot of startups fail. For those founders, at any stage of their entrepreneurial journey, this is for you. WHY STARTUPS FAIL: A New Roadmap for Entrepreneurial Success. Tom Eisenmann: https://amzn.to/3Dmxqkl Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

7 Sep 202148min

168: Jeff Kavanaugh, Unleashing your employees

168: Jeff Kavanaugh, Unleashing your employees

Welcome to Strategy Skills episode 168, an episode with Jeff Kavanaugh. Get Jeff's new book here: https://amzn.to/3Bfd8Hr Jeff Kavanaugh is the global head for Infosys Knowledge Institute - the research and thought leadership arm of global IT powerhouse Infosys, a leader in digital services and consulting. Aside from speaking on conferences, he also teaches at the Business School of University of Texas at Dallas as an adjunct professor. He serves on boards of the Institute of Business Analytics at Indiana University, and the Marketing Analytics Advisory Board at the University of Texas at Dallas. He is the author of the best-selling book Consulting Essentials. THE LIVE ENTERPRISE: Create a Continuously Evolving and Learning Organization. Jeff Kavanaugh: https://amzn.to/3Bfd8Hr Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

2 Sep 202157min

167: Mike Zani, How data science could boost your workforce

167: Mike Zani, How data science could boost your workforce

Welcome to Strategy Skills episode 167, an episode with Mike Zani. Get Mike's new book here: " data-userid="751940007443001344" data-orgid= "751940008097312768">https://amzn.to/3kskiBp Mike Zani is the CEO of The Predictive Index, a platform that is dedicated to talent optimization using over 60 years of proven science and software. They help businesses in creating high-performing teams, making objective hiring decisions, and inspiring greatness in people. They have 8,000+ clients that includes Bain Capital, Blue Cross Blue Shield, DoorDash, LVMH, Nissan, Omni Hotels, and VMware. In this episode, Mike talks about building effective teams, preparing companies for the future of work, developing strategies for long-term success, and more. THE SCIENCE OF DREAM TEAMS: How Talent Optimization Can Drive Engagement, Productivity, and Happinessby Mike Zani. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

31 Aug 202150min

166: Tesla, Elon Musk, and the bet of the century. Tim Higgins (WSJ reporter)

166: Tesla, Elon Musk, and the bet of the century. Tim Higgins (WSJ reporter)

Welcome to Strategy Skills episode 166, an episode with Tim Higgins. Get Tim's new book here: https://amzn.to/3BiHWai Tim Higgins is a reporter for The Wall Street Journal. He writes about tech and auto companies, mostly about Apple and Tesla. You can see him regularly on CNBC as an on-air contributor. Prior to this, he worked for Bloomberg News as writer for the Businessweek magazine. Throughout his career of covering big businesses and US Politics, he has won multiple Society of American Business Editors and Writers, Inc. (SABEW) Awards, has received honorable mention from Loeb Awards, and has been a five-time finalist for the Livingston Awards. POWER PLAY: Tesla, Elon Musk, and the Bet of the Century. Tim Higgins: https://amzn.to/3BiHWai Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

28 Aug 202149min

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