LSE Events | Prof. Richard Rumelt | Good Strategy/Bad Strategy: the difference and why it matters
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- เผยแพร่เมื่อ 24 ต.ค. 2011
- Speaker(s): Professor Richard Rumelt
Chair: Professor Gordon Barrass
Recorded on 20 October 2011 in Sheikh Zayed Theatre, New Academic Building.
Developing and implementing a strategy is the central task of any leader. Richard Rumelt shows that there has been a growing and unfortunate tendency to equate motherhood and apple-pie values and fluffy packages of buzzwords with "strategy."
Richard Rumelt is the Harry and Elsa Kunin Professor of Business and Society at UCLA Anderson.
An audio mp3 podcast is available here - www2.lse.ac.uk/newsAndMedia/vi...
Hiring an experienced videographer who understands the value of focusing on slides is a good strategy.
LMAO
:)
Slides??? Next level strategy: No slides. TED talks often don't have slides and when they do, the "focus" stays on the speaker. Videographer is a pro.
And don't hit microphones to test them. 1. your sound crew has set it up, sound checked it and turned it on ...or sack your sound crew. 2. microphones are delicate and expensive. They are not anvils designed for bashing with a hammer, they are instruments to be spoken into. So speak into them to test them. "Good evening" is a good start. Of course, all the wrinkles should have been worked out at the rehearsal.
@@paulhax yea but if there are slides and the speaker refers to them, it kind of matters to show them properly
I have heard this talk a few times... it is absolutely brilliant. I shall watch it in video form, with great relish. Richard really is a Strat Man.
I love how the first professor is so interested in the presentation
Thanks for Posting this. I have read the book but listening and watching Richard Rumelt gives the ideas more depth of meaning.
Huge respect for providing free content...🙏🙏🙏🙏
What a piece of gem is this............worth wisdom of a decade or even more!!
Very grateful for this gold mine people. Thank you!
Imagine how much more compelling this video would be if you could actually see the screen...
We spend so much time looking at half a screen filled with LSE logos while he's talking about whatever it is on the screen. A strange approach to filming! Loved it though, lit up the lightbulb above my head!
This was very very good - Incredibly engaging. The use of real examples really helped.
Thanks for this great speech, will revisit it again once complete the reading ! :-)
About 1/3 into the book and listening to this has been great for active recalling. I'll be back once I'm two thirds in
Respect in deed. Excellent. Highly recommended as well.
Wonderful, really good depth , so nicely explained, clear insights, real good lecture
That was fantastic. Thank you.
This is by far the best lecture I have ever heard. Listening today for maybe the tenth time.
Excellent! Full of wisdom, relevant for our trouble times.
Alfonso Davila Grijalva, Ph.D.
STRATEGY PROFESSOR
PUCE
Wish the recording also included the slides in the shot. Poor recording capabilities
starts at 5:00 minutes
Lol, thanks ; )
6:00*
Richard Rumelt
Man you are right, it starts there. Before I saw your comment I was thinking like why is the recording so bad.
I make better recordings th-cam.com/video/jWgeXcWzdYc/w-d-xo.html
Thanks you 💞
This guy is to Strategy what Mozart is to music! Hugely hugely underrated.
Great very interesting presentation Good Strategy/Bad Strategy: the difference and why it matters
Very good presentation Im glad I watched it.
Thanks a lot for posting this!!
Why negative comments? Be grateful such a long informative presentation was put on
TH-cam for free. btw He is a professor. What more do you want. Thank you for your insight.
I'm not sure what 'professor' means. A head of department, or just a tenured lecturer? In the UK, professor is a rank of the highest esteem as head of department, in the US it's about equivalent to a British lecturer.
Interesting and engaging. The timeline for the comments for a 5 year old recording really speaks to how this topic is still relevant and challenging.
a clear mind, logic and a good plan = a good strategy
Thank you for uploading.
talking about strategy is so attractive but usually presenters like to talk about big examples like Enron's failure or Apple's success . but no one criticized Enron's when it was profitable or critizized Apple when it was struggling. I really wish to see realistic approach for delivering speaches,
Yep.
Hit nail on head. Tell us some thing realistic about a small manufacturer or consulting firm that develops and executes a strategy successfully.
Excellent presentation
very good lecture...I am going to buy the book
Memorable!
Fantastic perspective, Great learning
hello sir kaise ho
that first guy definitely smokes weed
Very interesting presentation.
Exactly what Ron Paul has been advocating!
Grate course and classes
Excellent!
How do you make it louder? the audio is crap on this? My computer volume is maxed out - and there is no closed caption available.
great insight really helped.he seen something other's have missed because it was,obvious
Voyager is just a machine at a vast cost borne by humanity.
The survival lecture is still valuable to me........
Thank you Paul Tansey from Intergage for suggesting this.
For everyone who seems to comment, on what a good "strategy" is are rather infuriating. If you know anything about business let alone strategy, you would understand that strategy is only relevant to your specific circumstances. There is no blanket just theories which may help you tailor your own strategy. So anyone who has commented on the lack of a good "strategy" must seek to learn more about the topic.
✅ 100% Correct.
bombardingly informative
Good education. Keep me posted.
Q&A session was better than the lecture :-S
Great advice! 😊 Thanx for sharing! ⭐Pro Tip: Create Memorable Content! 🥰 It’s not enough just to post content; you need to create content that’s memorable and cuts through the noise. 🙃In fact, useful and memorable content is one of the top ways to increase website traffic. 🤑
FYI: I am Dr. of Ontology who has identified social challenges (business is social science) and offers easy and obvious solutions like: teach all children about money and business just the same way we do teach physical fitness.
Read: Getting "Into-Great": The 7 Billion Solution (What the best in the world don't know they know). A section on strategy parallel's Professor Rumelt's very well and adds a social dimension for deep communication.
Audio level💯💯💯
great vid
I am following......
as A Greek i agree with the point about Greece..
The audio is exemplary
Consider...
"The Retrospective fallacy of coherence - the tendency to see the actions.. as more coherent and purposeful than they actually were or to assume particular actions and choices as more decisive in the outcome of events than they actually were - and the prospective fallacy of control - the tendency of policymakers to believe they can exert far greater influence over events than they can." Betts
Сейчас в аэропорте Екатеринбурга. Жду вылет. Хочу просто сказать спасибо
great!
Really disagree with some, if not all, of his economic perspectives. But very insightful on what strategy actually is.
I wish the video has english subtitle.! I can't hear enough all.:(
Brilliant
Anywhere we can get the lecture slides for this?
I wasn't keen on the presentation style or examples used in the presentation BUT I did think the presenter was really pretty good in the questions and answers section starting at about 1:09:00
Please I need transcrisp
Yaabr - may i suggest watching this lecture again as I think you may have lost the thrust of it. I do not see where the focus was lost and who could challenge the authority of this man?
My answer has nothing to do with capitalism. A good strategy does not necessarily have to predict the future exactly, but rather devise a means of responding to changes in the present with rapidity and a concentrated effort.
Consider his praise for Steve Jobs' "wait and see" strategy. The electronics market is very volatile and unpredictable, but there are inventions at irregular intervals that lead to new industries. A good strategy might be to husband resources for the next big thing, yes?
In deed, IBM has been segmented in the end :)
he say:" make action coherent" and show a lot of example and then he say: " number 3, insight"
which one is number two?????
The first thing is to identify the problem, then make action coherent
5:18 start
8:00 apple & windows 95
Richard Rumelt is fucking amazing. Good Strategy Bad Strategy is one of the best books I've read; highly recommend to anyone that hasn't read it.
More question and answer time please.
Great
@Ghondaiwal 30 became 25, not 29. 5 dollar was not counted for account record.
How many strategies this guy have made for companies to capture the market place.
Because nations compete militarily one strategy that would cause a nation to beat its adversaries is to spend more on the military and get more bang for the buck than it's potential adversaries. Cutting welfare spending is a way to generate the funds to do this. If a nation wants to beat it's foes it can work on being a military super power and then use it's military power to get economic and political advantage..
Happy new year.
Include closed captions
Hope the cameraman figures out next time to back focus.
Don't forget how Kim Dotcom was extradicted from New Zealand, in an operation overseen by FBI agents - incidentally who, by law, are not supposed to have anything to do with crimes committed outside of US borders.
It should get interesting if Correia makes Assange into an Ecuador ambassador. But what has any of this to do with MITI and zaibatsus, or with the crippled US economy being forced to support a federal managerial leisure class?
or you can use lean six sigma step by step problem solving method
Untrue. Good strategy is a very educated guess, with stength kept in reserve for unforeseen events. Bad strategies are often nothing more than blind guesses.
One does need a model, agreed. That applies as much to economists of different schools as it does for military commanders using different combat concepts. Modeling is a critical component of this process.
Are you familiar with Robert Boyd and his OODA loop thesis?
If I knew there is a video, then I don't have to buy the kindle and audible books from the author, such bad strategy
I didn't see any talk on how apple going to keep its position as no. 1 or how samsung's strategy differs from apple's .
steve jobs sadly didn't live to enjoy his brilliant success but when it becomes good to 'put all your eggs in one basket' is Good strategy?
it seems we just follow the current successful examples because they are just successful, tomorrow when Apple's shares fall down will example of bad strategy?
Blindly following other people's successful strategy is never a good strategy.
Trying charging your cavalry at a column of tanks.
Apple is only going to keep its position as number one if they can continue to innovate and build on their successful ecosystem.
Samsung is not the same kind of company as Apple is. If you check out Samsung in their wikipedia page, you would have known that Samsung's revenue is equal to 17% of South Korea's 1082 billion GDP (en.wikipedia.org/wiki/Samsung). Samsung have deep roots in many traditional industries which few companies can enter and compete.
Apple were facing bankruptcy. So they focused on survival. They reduced complexity. If you want to call it "putting all your eggs in one basket", that's fine because that's all they could do really though it wasn't obvious. 4% of the market share was all they needed at the time to survive. Also Steve waited for opportunities to grow beyond that. Focus allows you to ride the waves of technical change.
@Ghondaiwal
Because of bad calculation. Waiter takes out 2 dollars once but giving back 3 dollars to each person makes a total of 6. 6-5 = 1 unaccounted dollar.... 29+1 = 30
It was very interesting in the beginning, and somehow I lost it in the middle. maybe I am not well educated in this part?
+Katerina on Second Life I feel the sameway
The talk is quite interesting. Its actually helps to understand Strategy. Just really distracting with the coughing through the video.
General motors went down for other reasons. While product differentiation is a valid strategy for other type of industries, not necessarily for automotive. Good strategy is to fill in all price ranges along with quality products to prevent newcomers from entering unattended niches. Having competing products within an organization prevents outside competition from stepping in..specially y high volume markets.
Honda is run by an ancient samurai family, one that once made armor hundreds of years ago. Mitsubishi dates back to the Meiji Restorarion, and was responsible for the Mitsubishi Zero, perhaps the finest fighter of the early WW II era. As for Toyota, it is crushing the US auto giants. Their non-union American employees are fiercely loyal to their firm.
Our contentious companies, where management and labor hate each other and only think of themselves, have no chance against such competition.
the power of foucus!
🗽
Do you know what MITI is? Do you know what zaibatzus are? Are you aware that most of the largest Japanese firms are centuries old?
Yes, there are quite significant differences between American and Japanese capitalist corporations. That's why Toyota is making huge profits at their US-based manufacturing facilities, using happy, well paid, non-union American labor to make their cars..
Wow. This guy loves bragging.
Now, I'm not saying he is lying. He just really seem to looove bragging.
His distinction between good and bad strategy seemed unnecessary as it was really between strategy and no strategy. It seemed strange that he should grace the latter with the title of strategy as it clearly was not. It was just fuzzy thinking.
The importance of a clear objective being where you wanted to get to and the strategy being the route to get there was put forward but then rather lost in incoherence. He talked about focus but seemed to lose this discipline.
or maybe you just did not understand him? then you should read his book
it was a good presentation, but he talked about focus the whole presentation, but it seems like he doesn't have that much focus.. part of the presentation was really confusing
Focus
( ... also, invention is a wasteful process, with unpredictable chances of success. Thus why entrepreneurship and experimentation is encouraged. In the US model, successful inventors are ripped off and their ideas used by larger, stronger corporations. In Japan, reserch and development are subsidized by the government and rewarded. That's why so many new modern inventions are becoming more prevalent in the east rather than the west.)
1:16:30
Monster...
It's either a false success or a failed attempt.
26:50
The content was barely groundbreaking, or coherent, and I'm not sure he prepared much other than regurgitating a few previously-presented slides. Almost no interaction from the audience who were mostly silent for 90 minutes. Not sure why people gush over this.
See from 34 to 47 minutes
Doesn't this depend on the state model? ex. capitalism vs communism. Or what if our moneys were issued not by privet central banks as debt, but by the state under a certain set of rules. ex. to control the amount issued at any one time. Wall st. would be totally different. Also, the public moneys that are invested in wall st. would be totally different. ex. look at the comprehensive financial reports of the individual states. The schools here represent and are tied to the current financial structure. After all, you get tenure because you have represented the status quo faithfully in it philosophy.