4.7 • 14.5K Ratings
🗓️ 27 July 2020
⏱️ 38 minutes
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0:00.0 | Let's get started. |
0:07.4 | Brett McKay here and welcome to another edition of the Art of Manliness Podcast. |
0:11.2 | To be a great success in business, you need to have a compelling vision, create a well-thought |
0:14.7 | out strategy to achieve that vision, and then fully commit to that strategy with action |
0:18.4 | and resources. |
0:19.4 | That's also the recipe for being a great failure in business. |
0:21.6 | That's why I guess arguing is booked the strategy paradox by committing to success leads |
0:25.6 | to failure. |
0:26.6 | His name is Michael Rainer and we begin our discussion by describing the strategy paradox |
0:29.9 | the fact that the same sound strategy can lead to both success and failure. |
0:33.9 | We discuss how the outcome then depends less on the strategy itself than on the idea |
0:38.2 | you decide to bet on using the example of the way Sony employed the right strategy and |
0:42.0 | backing Betamax and the VCR wars but still lost out to VHS. |
0:45.9 | Rainer then explains the limitations of forecasting and adaptation, approaches companies typically |
0:50.3 | use to navigate the tension between needed to commit to something and being uncertain |
0:53.9 | they've committed to the right thing. |
0:55.4 | He then impacts two more effective ways of developing strategic flexibility, separating |
0:59.4 | the management of commitment from the management of uncertainty and acquiring a portfolio |
1:03.4 | of assets that will increase your optionality. |
1:05.5 | We enter conversation with whether the strategy paradox can be applied not only to making decisions |
1:09.2 | in business but to making decisions in our personal lives as well. |
1:12.6 | After the show is over check out our show notes at a.wim.is slash strategy paradox. |
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