Free Audiobook summary of the book What I Didn't Learn in Business School by Jay Barney and Trish Gorman Clifford.

All of the theories, frameworks, and tactics you learn in business school have their limitations. This is a book about how strategic decisions are made in the real world

How Strategy Works: Key Points

Different assumptions produce different results. The real question is where those differences originate in the first place.

Determine who the key stakeholders are. Determine who has the authority to implement the recommendations and, more importantly, who has the authority to prevent them from being implemented.

Long before you make your final presentation, get a good sense of the political landscape.

How Strategy Works: Key Points Part 2

Utilize both analysis and change management to convert those who are likely to oppose your recommendations into supporters.

Individual biases or corporate politics can easily sway even sophisticated financial analysis.

The Five Forces Framework

The five forces framework is an excellent tool for identifying competitive threats in an industry. However, using this tool to estimate an industry's overall attractiveness is rarely useful.

The five forces are similar to the wind in that they indicate the direction in which competition within an industry is moving. Strategy is about positioning the firm relative to the prevailing winds and finding a way to ensure that the firm gets where it wants to go regardless of which way the wind blows.

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