Summaries and Customer Reviews are supplied by Amazon.com
Summary:
A compelling vision. Bold leadership. Decisive action. Unfortunately, these prerequisites of success are almost always the ingredients of failure, too. In fact, most managers seeking to maximize their chances for glory are often unwittingly setting themselves up for ruin. The sad truth is that most companies have left their futures almost entirely to chance, and don’t even realize it. The reason? Managers feel they must make choices with far-reaching consequences today, but must base those choices on assumptions about a future they cannot predict. It is this collision between commitment and uncertainty that creates THE STRATEGY PARADOX.
This paradox sets up a ubiquitous but little-understood tradeoff. Because managers feel they must base their strategies on assumptions about an unknown future, the more ambitious of them hope their guesses will be right – or that they can somehow adapt to the turbulence that will arise. In fact, only a small number of lucky daredevils prosper, while many more unfortunate, but no less capable managers find themselves at the helms of sinking ships. Realizing this, even if only intuitively, most managers shy away from the bold commitments that success seems to demand, choosing instead timid, unremarkable strategies, sacrificing any chance at greatness for a better chance at mere survival.
Michael E. Raynor, coauthor of the bestselling The Innovator's Solution, explains how leaders can break this tradeoff and achieve results historically reserved for the fortunate few even as they reduce the risks they must accept in the pursuit of success. In the cutthroat world of competitive strategy, this is as close as you can come to getting something for nothing.
Drawing on leading-edge scholarship and extensive original research, Raynor’s revolutionary principle of Requisite Uncertainty yields a clutch of critical, counter-intuitive findings. Among them:
-- The Board should not evaluate the CEO based on the company’s performance, but instead on the firm’s strategic risk profile -- The CEO should not drive results, but manage uncertainty -- Business unit leaders should not focus on execution, but on making strategic choices -- Line managers should not worry about strategic risk, but devote themselves to delivering on commitments
With detailed case studies of success and failure at Sony, Microsoft, Vivendi Universal, Johnson & Johnson, AT&T and other major companies in industries from financial services to energy, Raynor presents a concrete framework for strategic action that allows companies to seize today’s opportunities while simultaneously preparing for tomorrow’s promise.
Customer Reviews:
Average Customer Rating:
Finally, a new-millenium strategic realist!
Customer Rating:
Practical strategic execution in the new millennium has outpaced the theories presented by such classic contributors as Porter, BCG and Ohmae. More recently, it has even outpaced such newer contributors as Kim & Mauborgne, Collins and Kaplan & Norton. I knew I was reading a well-rounded strategy book when Mr. Raynor explains that he paid as much attention to failed strategies as he did to successful strategies (as Rosenzweig did in "The Halo Effect"). But, I believe he nailed it when he clarified that companies shouldn't become overly dependent on performance or risk as much as they should develop a balanced view between pro-action and reaction (i.e. strategic focus and flexibility are not mutually exclusive). Mr. Raynor's approach is clear, easy-to-read and well researched - a refreshing departure from typical trade books. His solid writing style acts as a great foundation to get out the new word on executing strategy.
Highly readable
Customer Rating:
Dont know why Amazon had not published my first elaborate review of it sent near end June and so I got to rewrite this very short one for my own record.
In short, a well written HBR type book about strategic committment, uncertainty and diversification not to be missed by any top management or strategist in conglomerates. I even add it to become the sixth item of one of my Listmania List. Highly recommended.
Very good ideas, writing style somewhat longdrawn
Customer Rating:
The theory (paradox) presented in the book is well-thought and substantiated by research and the author presents organisational solutions and tools to address the challenge.
The paradox itself is different from other contemporary management books. The writing style is though a bit extensive and somewhat long-drawn for my liking but perhaps that is a personal taste.
Highly Academic. Highly Acclaimed. Little value.
Customer Rating:
The Strategy Paradox is a waste of your money and time! I do not know why this book has received such popular acclaim. Michael Raynor is extremely "academic" and seems to possess little knowledge of the real business world. He repeatedly misuses words in the English language, including "profound", "robust", and "ecosystem". Raynor attempts to impress his readers by talking about quantum physics, game theory, and natural selection but instead he confuses them. Raynor seems to write with an air of authority that few people could have about the subject, and than concludes the book with a philosophical lesson on the value of "humility". Raynor, take your own advice!
Compulsory Text in our Management Degree program
Customer Rating:
The Strategy Paradox is now a compulsory text in our Management Degree program. Why? It exemplies the critical importance of sharpening innovative thinking into strategic direction, borrowing from his work at Harvard focusing on disruptive technologies and innovation into his thinking on approaches to overall strategy formulation and execution.
The lessons learned are somewhat counter intuitive but Raynor presents strong evidence to support why traditional strategic axioms may be flawed. He offers unique perspectives on strategy, including; - The CEO should not drive results, but manage uncertainty - The Board should not evaluate the CEO based on the company's performance, but instead on the firm's strategic risk profile - Business unit leaders should not focus on execution, but on making strategic choices - Line managers should not worry about strategic risk, but devote themselves to delivering on commitments
These are not just business lessons but life lessons. Our students must have an awareness of the strategic fundmentals of managing risks & reward, using evidence, insight and in being transparent in communicating assumptions. As in one's personal life, as in one's professional life, over the long term, the ability to effectively manage the the myriad of risk / reward tradeoffs most often finishes on top.
There are few lessons that a business school can teach that have more lasting life impacts, and that is why this book is a must read.
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