134. Richard Rumelt on what separates good strategy from bad

In this episode of "Inside the Strategy Room," Richard Rumelt, a strategy expert, discusses the prevalence of bad strategy in the business world and the importance of focusing on problem-solving rather than setting ambitious goals. He emphasizes the need for companies to identify and address the "crux" of their challenges, make difficult choices, and foster organizational resilience. The conversation explores the limitations of long-term strategies in a dynamic world, the significance of understanding discontinuities in trends, and the role of leadership in promoting honesty and clear communication within organizations. Rumelt also shares his insights on engaging boards effectively and cautions against making them too distant from the technical aspects of the business.