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Strategy Beyond the Hockey Stick
Book

Strategy Beyond the Hockey Stick

People, Probabilities, and Big Moves to Beat the Odds

Wiley, 2018 подробнее...


Editorial Rating

9

Qualities

  • Applicable
  • Concrete Examples
  • Insider's Take

Recommendation

McKinsey colleagues Chris Bradley, Martin Hirt and Sven Smit challenge strategic planning’s conventional wisdom by pointing out it hasn’t worked in 50 years. They urge leaders to acknowledge the social and emotional dynamics at play in any strategy session – egos, status, risk aversion, and the like – and remove these biases. Replace them with a process that you base on data, facts and an outside-the-firm perspective to calculate which opportunities offer the highest probabilities of success. Then, say the authors, bet big.

Take-Aways

  • Most firms still fail at articulating strategy beyond what they’ve done in the past.
  • Based on millions of years of human evolution, natural biases favor fast action over the deep thought and consideration that strategic planning needs.
  • Economic profit – what you have left after subtracting the total cost of capital – offers a good measure of success that forces you to look outward.

About the Authors

Chris Bradley, Martin Hirt and Sven Smit work together in McKinsey’s Strategy Practice. Smit resides in the Netherlands, Hirt in China and Bradley in Australia.


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