70: Strategy with the World’s #1 Strategy Thinker Rita McGrath

Rita McGrath is a legendary professor at Columbia Business School and has multiple times been ranked #1 in  Strategy on the prestigious Thinkers50 list. Who better to deep dive into the topic of strategy with!

Rita's definition of strategy is:
A central, integrated concept of how we are going to achieve our objectives.

In this episode:

• What is strategy?
• How much the top management really know about what is going on in their own business?
• Why does som many companies fail when entering new markets?
• What is the problem with their go to market strategy?
• Rumours says Rita has a list of company failures. Is this true?
• How much does a company need to loose before they or on the list?
• What can we learn from when Ford got a new CEO?
• What is the best practice way to create your company's new strategy?
• Once you have a new strategy, how do you communicate it effectively to the organization?
• What is the 700-rule?

Rita recommends creating your strategy using the 5 C's:

• Your Customer
• Your Complimentary relationships
• Your Competitor
• Your Company
• Context

Check out Rita's book on strategy: The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as Your Business

Rita is teaching the Valize Customer Insight Program this fall.  There are six courses in all, with a combination of online lessons, downloadable materials and six live sessions with Rita.  Our listeners can sample a free demo course by following this link.

Find out more about Rita on her website ritamcgrath.com