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The key takeaways from "Strategy Beyond the Hockey Stick" that can be applied by entrepreneurs are:
1. Big moves can significantly improve your odds of success. These moves need to be substantial enough to make an impact.
2. The effects of big moves compound. Each additional move nearly doubles the odds of success.
3. Except for Capital Expenditure, all moves are one-sided bets. They increase the odds of success and decrease the odds of failure.
4. Managing social dynamics in the strategy room is crucial to ensure breakthrough ideas don't get reduced to safe, non-risky options.
Question was asked on:
Overall, big moves can cancel a poor inheritance and increase the odds of moving up the Power Curve. The move has to be big enough to cross the thresholds mentioned to make an impact on the Power Curve. The impact of big moves compounds - each additional move nearly doubles the odds of moving up the Power Curve. All moves except Capital Expenditure are one-sided bets. They increase the odds of going up the Power Curve and decrease the odds of sliding down.
Asked on the following book summary:
McKinsey & Co. partners wrote this book. How do you effectively turn the promises of strategy meetings into reality? How can you manage social dynamic...
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