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Companies might face several obstacles when applying the strategic concepts from Good Strategy, Bad Strategy. These could include resistance to change, lack of understanding of the strategic concepts, and difficulty in implementing the strategies due to operational or financial constraints. To overcome these obstacles, companies could invest in training and development to ensure all employees understand the strategic concepts. They could also engage in change management practices to ease the transition. Additionally, they could seek external help or consultancy for the implementation of the strategies.
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"Half of what alert learn in a strategy exercise is to consider the competition even when no one tells you to do it in advance," Rumelt writes as he details the case of Wal-Mart in 1986. Rumelt's students would theorize why Wal-Mart did so well (computerised warehousing and trucking system, non-union, low admin expenses and so on), but no one considered why, if this was so simple, competitors didn't copy the formula. "Looking just at the actions of a winning firm, you see only part of the picture."
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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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