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Strategy is about how an organization will move forward. Doing strategy is figuring out how to advance the organization’s interests.
Good Strategy/Bad Strategy
Richard Rumelt
Here’s what you need to look for in a North Star Metric: As close as possible to the core value experience ... Aggregate number, not a rate or ratio—We’re looking for a number that will sum up the value across the entire market and potentially grow up-and-to-right over time... Simple and memorable—No North Star Metric is perfect. Some messages sent via WhatsApp may be spam, some items purchased on eBay may not be fully satisfactory to the buyer. That’s fine as long as the number is still generally indicative of total value.
Evidence-Guided
Itamar Gilad
At Pearson, the life cycle has six phases instead of three, but the fundamental concepts are similar. Early-stage ideas are funded with small investments and are expected to return learning rather than financial results. In other words, teams are asked to validate their business ideas and not to return a profit. Once an idea has been validated, the product council will invest additional funds and will expect more-traditional returns.
Sense and Respond
Jeff Gothelf, Josh Seiden
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