Great Strategy Books
Strategy is a problematic issue for Executives to formulate, and it is even more challenging to implement. Many confuse tactics with strategy. Even more believe that pithy, BHAG's will pass for strategy. They DON'T!
Tactics are how we implement a strategy. Based on research and my own experiences, I'm a firm believer that a good strategy is valuable only if you turn it into tactics and demand progress.
Setting strong, powerful, inspiring goals is GREAT IF and only IF set after the company figures out its true competitive advantages.
With this as a backdrop, I'm often asked by Executives and my Duke (Fuqua) students if there are great books on strategy that they should read going forward. Here are some of my favorite recommendations:
Sun Tzu: Art of War –by Sawyer, Ralph D.
This book is the core of strategic thinking. It may seem a bit arcane, but virtually all strategic thought begins with Sun Tzu. Folks who want to understand strategy should read this. It is not nearly as daunting as it might seem. The Art of War (especially in this particular translation) is only 63 pages long. The rest of the book is history and footnotes. Read his actual writings and think about how well it applies. I take my students through the 13 chapters and align them with current strategy design and implementation.
Who Says Elephants Can't Dance? - Gerstner, L.
I'm not traditionally a fan of CEO-written books. Too often, they are geared toward the ego of the CEO and their LUCK with a particular company. They rarely examine the confluence of those decisions being the alignment of many other actors, not so with Lou Gerstner's brilliant account of the turnaround at IBM. It is a lesson in Strategy Implementation and the messiness of the process. This book is a must-read!
Management Challenges for the 21st Century – Peter Drucker
I will not say much about this masterpiece that continues to hold its own with age. Lots of small things may have changed, but much of the overall approach to strategy remains sound.
Outliers & The Tipping Point – Malcolm Gladwell
I have included two books from Malcolm Gladwell. He has a unique ability to take all the research studies that most of us have read over the years and reframe the results in an easily understood and practical way. Outliers apply to virtually anyone who wants to be the best in their field, and The Tipping Point is how well-implemented strategy CHANGES companies.
American Icon – Bryce Hoffman
Truly a modern classic in Strategy Implementation. Bryce traces the extraordinary strategy implementation efforts of Alan Mulally at Ford Motor Company. Rarely is there a book that comes along that is so packed with practical, do it NOW implementation advice. All (and I mean all) companies would be better if they took the cadence / hold people accountable / be action-oriented advice detailed in this excellent read.
I have re-read all of these books multiple times. Each time I get more out of the books. There are many more that are worth the read. I promise to continue with my best reads in the next post. In the meantime, take a look at these. You will not be disappointed and may become a better strategist.
