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Good Strategy/Bad Strategy: the difference and why it matters

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
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24 Responses

  1. trader048

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  2. trader048

    The secret of a successful trade on Forex!
    Forex Trade Strategy.
    Leading trade since 2006. Now has developed a? strategy, which brings profit to 150-200% for 21 days! Before that I was in an empty spent the time to study the indicators, which do not work, etc. This method is very simple! For the novice trader and not only ou have any questions, please write!
    With respect,
    Vladimir Anatolievich
    goodzarabotok.mybb.ru
    Vladimir-Anatolevich08@yandex.ru

  3. DrCruel

    A better word is managerialism, and actually the US for decades had been trying to half-heartedly fight against the fascist trend. They’ve failed, despite the fall of the USSR..

    The Chinese would simply drag a man like Assange out of the embassy and kill him in the street, but that kind of attitude hasn’t affected their economy negatively. What you’re talking about has nothing at all to do with why business in Marxist countries like Ecuador and the PRC are? more lucrative than in the West.

  4. DrNikol2007

    The cases with Assange and Russian arms dealer Victor Bout are here to tell us US ruling class is pushing the country towards fascism. On Feb 27, 1933 there was a fire in he Reichstag and the fascists indicted Van der Lubbe, George Dimitroff, Basil Taneff and Blago Popoff; the fascist jurist prudence was more fair that the American one now – Look how long we keep prisoners? with out trial.

  5. DrNikol2007

    1. Re: Left-wing populist…
    I do not take or offer anybody’s opinion or analysis. I look for facts some people can bring in since I did not have the time to do the research. You do not? need to adopt Richard Wolff’s interpretation of the facts. What I wanted you to learn was that US economy is not anymore in special preferable conditions in the World as it used to be after WWI which brought Great Depression and WWII which brought exceptional temporary growth, and middle class, but not ever more

  6. DrCruel

    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?

  7. DrCruel

    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.

  8. DrNikol2007

    Re: Do? you … Zaibatsu
    The case with Julian Assange is perfect example of fascist persecution of a journalist by accusation in treason.
    I do not get it; how is possible an Australian citizen, residing out of USA, to violate American criminal law?
    The only way to understand is to assume the US laws a universal – not national…
    How about if the Islamic Republic of Iran declare you ad violator to the sharia law… funny isn’t it… US government does not make jokes with Assange.

  9. DrCruel

    Yes, of course. It’s “evil Rightist propaganda” that blames the economy’s failures on unions, and “evil Leftist propaganda” that blames the economy’s failures on capitalists. Meanwhile our competitors have both unions and capitalists and are driving us into? the grounds – or rather, we’re doing it to ourselves.

    Now you give me a link to a sales pitch from a Left-wing populist. It’s like I’m talking to the wind. How is an “open-minded” politically unconscious prole like me expected to respond?

  10. DrNikol2007

    Re: Do you … Zaibatsu
    Before 1945 fascism was characterized, on the first place, by a society where conglomerates took over the politics and helped? fascist parties to take over the governments and rule without obstacles/regulations. The US system in now days exhibits a lot of indications of fascism. Obama signs unit-freedom and anti-democratic laws: ACTA, NDAA, US Defense Act 2012, Anti whistle blower Executive orders & law in Florida, New York, Indiana, Iowa, Minnesota and Nebraska this year.

  11. DrNikol2007

    Re: Intel has… not capitalism.
    This is what US propaganda washes peoples’ brains with – it is not the capitalism to blame – it is? some bad people/corporations/practices…
    I think Richard Wolff will help to some one open-minded like you to see further more…/watch?v=0HTkEBIoxBA&feature=related

  12. DrCruel

    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..

  13. DrCruel

    Intel has used crooked schemes to try? to drive its only real competitor (AMD) out of business – it was fined over a billion dollars for its antics. So I’d say the same applies here too. And I totally agree with you about Apple.

    The problem with this country’s business culture is that EVERYONE is after short term gain at the expense of everyone else. It’s bad strategies based on short-sighted selfishness and quick payoffs at the expense of long-term success that’s killing us, not “capitalism.”

  14. DrNikol2007

    Re: I’d agree
    I do not know Intel; Apple buys and steals innovations – Steve admitted it on several occasions (/watch?v=CW0DUg63lqU)
    My dear, you see the real symptoms; I believe you see the real reasons too, i.e. it is very important for the society unions to exist; but they has to understand (some do) that the good wages from the pasts are gone for geopolitical reasons;? they must go for thoughtful concessions. Businesses aren’t greedy; capitalism works this way – no profit – no business.

  15. DrCruel

    I’d agree, for the most part. That’s? why many of the real innovations in consumer products are happening outside of the US. The few US companies that do innovate (such as Apple and Intel) are the exceptions.

    Many pro-capitalist blame business failures on the greed of unions, and Leftist blame it on bad management by greedy businessmen. They’re both right. It’s a problem of myopic strategies, sacrificing long-term stability for short-term gain.

  16. DrNikol2007

    Re: also (2)
    One of the most important conditions for good science and inventions is the continuity in the process. The American corporations relay on free-lance inventors which have to take care for themselves? most of the time and inventors must be free of every-day issues in order to be productive. As I said already, American corporations do not want to nurture science and research.

  17. DrNikol2007

    Re: also
    There is no significant difference between American and Japanese capitalist corporation. The RD field is funded in similarly in both countries and inventors are treated in the same way. The only difference, but significant one, is the corporate culture. In Japanese or? Korean societies exhibit mutual loyalty between corporation and employees unlike American, where the loyalty is unidirectional – corporation (with exceptions) do not care about the employees; and results are visible.

  18. DrCruel

    ( … 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.)

  19. DrCruel

    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?

  20. DrNikol2007

    2 Re:My answer
    To conserve resources strategy is a blind guess. Your resources can get outdated and unneeded in the future or to devalue themselves.
    One still needs a model on which base future can be predicted.
    What model capitalist economists rely? on to predict. Every one of them talks about the past or general suggestions for the future.
    And.. invention as a wasteful process – wasting time and money on the expenses of the inventors. Inventions are still not wanted in the capitalists economy.

  21. DrNikol2007

    1 Re: My? answer
    To have a strategy means to make an action-plan after some chain of events was predicted in one’s future. How right are you? You wrote “strategy does not necessarily have to predict the future”. What you’ll be responding to, if you haven’t predicted it. Think of Apple strategic might after read about ‘Newton’ disastrous project.
    One has to understand the capitalism is a chaotic system and we lean of successes predominately; capitalism functions on luck; remember dot com crisis?

  22. DrCruel

    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?

  23. DrCruel

    Now do this on a massive scale, use CDO and CDS products? to really confuse people, get the US government to bankroll the game, and make sure you’ve cashed out beforre the house of cards comes crashing down.

  24. DrNikol2007

    Did you happened to notice, all “strategists” are very good in predicting … the future in the past. PAY ATTENTION: they talk in past tense.
    The capitalist economy is not a stochastic system; it is a chaotic system which seamingly has some irregular repetitions. It is absolutely unpredictable.
    This guy is another BS.
    One can predict events which follow some regular? or irregular relationship of basic parameters. Capitalist system has no basic parameters.
    Is there any one to prove the opposite ?