LSE Events | Prof. Richard Rumelt | Good Strategy/Bad Strategy: the difference and why it matters 

Hiring an experienced videographer who understands the value of focusing on slides is a good strategy.

that first guy definitely smokes weed

Wish the recording also included the slides in the shot. Poor recording capabilities

I have heard this talk a few times... it is absolutely brilliant. I shall watch it in video form, with great relish. Richard really is a Strat Man.

Imagine how much more compelling this video would be if you could actually see the screen...

talking about strategy is so attractive but usually presenters like to talk about big examples like Enron's failure or Apple's success . but no one criticized Enron's when it was profitable or critizized Apple when it was struggling. I really wish to see realistic approach for delivering speaches,

starts at 5:00 minutes

For everyone who seems to comment, on what a good "strategy" is are rather infuriating. If you know anything about business let alone strategy, you would understand that strategy is only relevant to your specific circumstances. There is no blanket just theories which may help you tailor your own strategy. So anyone who has commented on the lack of a good "strategy" must seek to learn more about the topic.

How do you make it louder? the audio is crap on this? My computer volume is maxed out - and there is no closed caption available.

I love how the first professor is so interested in the presentation

Wow. This guy loves bragging. Now, I'm not saying he is lying. He just really seem to looove bragging.

Great very interesting presentation Good Strategy/Bad Strategy: the difference and why it matters

Why negative comments? Be grateful such a long informative presentation was put on RU-vid for free. btw He is a professor. What more do you want. Thank you for your insight.

Huge respect for providing free content...🙏🙏🙏🙏

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?

The content was barely groundbreaking, or coherent, and I'm not sure he prepared much other than regurgitating a few previously-presented slides. Almost no interaction from the audience who were mostly silent for 90 minutes. Not sure why people gush over this.

Because nations compete militarily one strategy that would cause a nation to beat its adversaries is to spend more on the military and get more bang for the buck than it's potential adversaries. Cutting welfare spending is a way to generate the funds to do this. If a nation wants to beat it's foes it can work on being a military super power and then use it's military power to get economic and political advantage..

That was fantastic. Thank you.

This was very very good - Incredibly engaging. The use of real examples really helped.

Q&A session was better than the lecture :-S

It's ok. But nothing much of significance in this video regarding strategy in business context. The Q&A was good than the lecture.

he say:" make action coherent" and show a lot of example and then he say: " number 3, insight" which one is number two?????

This guy is to Strategy what Mozart is to music! Hugely hugely underrated.

FYI: I am Dr. of Ontology who has identified social challenges (business is social science) and offers easy and obvious solutions like: teach all children about money and business just the same way we do teach physical fitness. Read: Getting "Into-Great": The 7 Billion Solution (What the best in the world don't know they know). A section on strategy parallel's Professor Rumelt's very well and adds a social dimension for deep communication.

Thanks for Posting this. I have read the book but listening and watching Richard Rumelt gives the ideas more depth of meaning.

Really disagree with some, if not all, of his economic perspectives. But very insightful on what strategy actually is.

The audio is exemplary

Сейчас в аэропорте Екатеринбурга. Жду вылет. Хочу просто сказать спасибо

Great content, amazing presenter and possibly the worst camera work ever!

Yaabr - may i suggest watching this lecture again as I think you may have lost the thrust of it. I do not see where the focus was lost and who could challenge the authority of this man?

Please I need transcrisp

Wonderful, really good depth , so nicely explained, clear insights, real good lecture

Excellent! Full of wisdom, relevant for our trouble times. Alfonso Davila Grijalva, Ph.D. STRATEGY PROFESSOR PUCE

as A Greek i agree with the point about Greece..

His distinction between good and bad strategy seemed unnecessary as it was really between strategy and no strategy. It seemed strange that he should grace the latter with the title of strategy as it clearly was not. It was just fuzzy thinking. The importance of a clear objective being where you wanted to get to and the strategy being the route to get there was put forward but then rather lost in incoherence. He talked about focus but seemed to lose this discipline.

Hope the cameraman figures out next time to back focus.

a clear mind, logic and a good plan = a good strategy

What a piece of gem is this............worth wisdom of a decade or even more!!

This is by far the best lecture I have ever heard. Listening today for maybe the tenth time.

Consider... "The Retrospective fallacy of coherence - the tendency to see the actions.. as more coherent and purposeful than they actually were or to assume particular actions and choices as more decisive in the outcome of events than they actually were - and the prospective fallacy of control - the tendency of policymakers to believe they can exert far greater influence over events than they can." Betts

Thanks for this great speech, will revisit it again once complete the reading ! :-)

Respect in deed. Excellent. Highly recommended as well.

Doesn't this depend on the state model? ex. capitalism vs communism. Or what if our moneys were issued not by privet central banks as debt, but by the state under a certain set of rules. ex. to control the amount issued at any one time. Wall st. would be totally different. Also, the public moneys that are invested in wall st. would be totally different. ex. look at the comprehensive financial reports of the individual states. The schools here represent and are tied to the current financial structure. After all, you get tenure because you have represented the status quo faithfully in it philosophy.

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If I knew there is a video, then I don't have to buy the kindle and audible books from the author, such bad strategy

The talk is quite interesting. Its actually helps to understand Strategy. Just really distracting with the coughing through the video.

First 5 minutes is a complete waste of time boy cut to the chase this is why universities suck; a bunch of preambles.

About 1/3 into the book and listening to this has been great for active recalling. I'll be back once I'm two thirds in

Interesting and engaging. The timeline for the comments for a 5 year old recording really speaks to how this topic is still relevant and challenging.

Very interesting presentation.

I wasn't keen on the presentation style or examples used in the presentation BUT I did think the presenter was really pretty good in the questions and answers section starting at about 1:09:00

( ... 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.)

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..

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?

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.

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?

interesting but: if our democratic governments were all about buying votes - why is there still military service and armies at all? i can't think of any sane voter who would vote pro war (and military service) and an army costs a lot of money which could be spent in directly "buying votes"

The people coughing in the background sound like they have coronavirus

Audio level💯💯💯

No wonder UCLA is tier 2. He'd be better off speaking at Kings haha

How many strategies this guy have made for companies to capture the market place.

@Ghondaiwal Because of bad calculation. Waiter takes out 2 dollars once but giving back 3 dollars to each person makes a total of 6. 6-5 = 1 unaccounted dollar.... 29+1 = 30

Voyager is just a machine at a vast cost borne by humanity.

it was a good presentation, but he talked about focus the whole presentation, but it seems like he doesn't have that much focus.. part of the presentation was really confusing

Very grateful for this gold mine people. Thank you!

its just another kind of boring book that you will read but not really helpful (i.e. if you read a lot of business strategy and peoples experience)

Include closed captions

or you can use lean six sigma step by step problem solving method

Thanks a lot for posting this!!

Memorable!

1:16:30

Thank you Paul Tansey from Intergage for suggesting this.

Fantastic perspective, Great learning

@Ghondaiwal 30 became 25, not 29. 5 dollar was not counted for account record.

great insight really helped.he seen something other's have missed because it was,obvious

agree shame about boring baldy.......otherwise great vid

The survival lecture is still valuable to me........

Thank you for uploading.

Very good presentation Im glad I watched it.

very good lecture...I am going to buy the book

It's either a false success or a failed attempt.

I wish the video has english subtitle.! I can't hear enough all.:(

Sumgai what the hell are you talking about

See from 34 to 47 minutes

Exactly what Ron Paul has been advocating!

Good education. Keep me posted.

It was very interesting in the beginning, and somehow I lost it in the middle. maybe I am not well educated in this part?

Richard Rumelt is fucking amazing. Good Strategy Bad Strategy is one of the best books I've read; highly recommend to anyone that hasn't read it.

In deed, IBM has been segmented in the end :)

the power of foucus!

Anywhere we can get the lecture slides for this?

bombardingly informative

I am following......

More question and answer time please.

Grate course and classes

Monster...

Focus

General motors went down for other reasons. While product differentiation is a valid strategy for other type of industries, not necessarily for automotive. Good strategy is to fill in all price ranges along with quality products to prevent newcomers from entering unattended niches. Having competing products within an organization prevents outside competition from stepping in..specially y high volume markets.

Happy new year.

Excellent presentation