Good Strategy/Bad Strategy: The difference and why it matters

by Richard P. Rumelt

In a changing world, a good strategy must have an entrepreneurial component.

This process of learning—hypothesis, data, anomaly, new hypothesis, data, and so on—is called scientific induction and is a critical element of every successful business.

Most people, most of the time, solve problems by grabbing the first solution that pops into their heads—the first insight.

Identifying the difficulties and obstacles will give you a much clearer picture of the pattern of existing and possible strategies.

Being independent without being eccentric and doubting without being a curmudgeon are some of the most difficult things a person can do.