27. Jumpstart a better way to do strategy

In this episode of "Inside the Strategy Room," Chris Bradley from McKinsey discusses practical changes companies can make to their strategic planning process to unlock bolder moves and improve performance. He introduces the concept of the "social side of strategy" as a villain causing inertia and highlights five big moves companies can make to climb the power curve: programmatic M&A, resource reallocation, investment, productivity, and differentiation. Bradley then outlines eight practical shifts companies should make, including separating planning and strategy, debating real alternatives, dynamically moving resources, focusing on moves over budgets, creating liquid resources, promoting open risk portfolios, re-engineering evaluation processes, and taking immediate action. The discussion emphasizes the importance of challenging internal myths, fostering a culture of dissent, and incentivizing risk-taking to drive strategic change and achieve significant performance improvements.