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A policy is a set of guidelines or rules that are established to guide decisions and achieve rational outcomes. An example of a policy could be a company's HR policy, which might include guidelines on employee behavior, dress code, and leave procedures. This policy would guide the actions of both management and employees, ensuring a consistent approach to various situations within the organization.
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We read the book by Richard Rumelt and will break down the key insights between good and bad strategy. The "kernel" of good strategy contains three main components: diagnosis of a problem; an appropriate guiding policy; and a set of coherent actions. If each stage isn't treated carefully, bad strategy is inevitable.
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Even some of the world’s biggest organizations do strategy poorly, and incorrectly credit their success to personal decision-making skills. We read th...
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