Strategy Waves - July 2020

Four months in to the COVID-19 crisis, some organizations are still grappling with what to do differently going forward.  Your company, agency, or non-profit may be asking — but not yet answering —big questions about how it will excel in this new climate. 

July’s newsletter is about fundamentally rethinking an existing strategy.   Leaders often seek to transform their organizations — particularly in times of great upheaval — and a clear approach to strategy can guide this reinvention.

I’ve selected two articles and a video that outline approaching strategy differently.  The first read proposes overhauling the air travel experience while the industry is in crisis.  Published in 2009 during The Great Recession, the second article encourages readers to rethink their business model during a time of uncertainty.  Its insights still apply today.  Finally, I’ve included a one-hour webinar by the authors of the book that I’ve summarized below.  You can treat this video as a more detailed companion to my summary or in lieu of reading the book (although the book is excellent). 

I finish this month’s issue with a summary of “Playing to Win, How Strategy Really Works” by A.G. Lafley and Roger L. Martin.  The authors put forth a five-step process for developing strategy.  Their method is conceptually simple, yet requires tough choices in practice.  I turn to this book regularly when thinking through a thorny strategy issue. 

Curated List of Reads about Strategy:

“Make it Better, Not Just Safer:  the Opportunity to Reinvent Travel” by Melissa Dalrymple, Ryan Mann, Melinda Peters, and Nathan Seitzman at mckinsey.com

Two weeks ago, the authors recommended how to transform the air travel industry during this crisis. 

“How to Rethink Your Business During Uncertainty” by Rita Gunther McGrath and Ian C. MacMillan in MIT Sloan Management Review.  (Create free account to access entire article)

Published in 2009, the authors assert that a recession provides an opportunity to assess and let go parts of a business that may be underperforming.  Their insights still apply today. 

“A Playbook for Winning,” webinar by Harvard Business Review featuring A.G. Lafley and Roger L. Martin. 

The hour-long video featuring the authors of Playing to Win:  How Strategy Really Works highlights many of the points in their book, which I also summarize below.