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From the Inside Flap

Strategy Beyond the Hockey Stick is about unlocking big moves—because that is what it takes to beat the odds in business. Anchored in empirical evidence from thousands of companies, it reveals what really matters—and what does not—for exceptional performance. Despite their best intentions, business leaders often get bogged down by human biases and social dynamics that get in the way of clear strategy and strong execution. Just about anyone proposing a strategy comes in with a confident "hockey stick" projection. But how do you distinguish the true breakthrough plans from the fakes—and then carry through the tough choices needed to make good on those promises? Strategy Beyond the Hockey Stick provides you with practical advice on how to change these dynamics in your strategy room and make the right strategic moves. Chris Bradley, Sven Smit, and Martin Hirt are all leaders in McKinsey's Strategy Practice. They have worked together over the last decade on a mission to advance the state of the art in strategic management, while serving corporate leaders around the world to help them beat the odds.

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From the Back Cover

PRAISE FOR STRATEGY BEYOND THE HOCKEY STICK "A different kind of book—I couldn't put it down. Inspiring new insights on the facts of what it takes to move a company's performance, combined with practical advice on how to deal with real-life dynamics in management teams." —JANE FRASER, CEO, Citigroup Latin America "A refreshing new look at what drives corporate performance. Even in fast-growing Internet businesses, people and their interactions are at the core of developing and executing strategies. The ideas shared in this book inspire fresh thinking and bold actions." —MARTIN LAU, President, Tencent Technology "This book is fundamental—I have seen hockey sticks in business plans more than I like to admit. The principles laid out here, with compelling data, are a great way around the social pitfalls in strategy development." —FRANS VAN HOUTEN, CEO, Royal Philips N.V. "Sustaining institutions long-term often means determining what must evolve. Strategy Beyond the Hockey Stick provides a roadmap for strategic evolution and a toolkit for identifying big moves that will take already strong organizations to the next level of performance." —WENDELL WEEKS, Chairman and CEO, Corning Incorporated "Every once in a while, a genuinely fresh approach to business strategy appears. Strategy Beyond the Hockey Stick delivers exactly that. Its analysis of the human elements in strategy-making—social, psychological, and political—cuts to the heart of why most strategies are banal and fail to focus action. If you want to break out of the rut, get this book." —PROF. RICHARD RUMELT, UCLA Anderson School of Management "The great contribution of this book is that it joins the 'hard data' side to the equally crucial—and largely ignored—arena of social dynamics and human leadership. It is this rare combo of the 'hard' and the 'soft' that makes Strategy Beyond the Hockey Stick so distinctive." —PROF. ROBERT KEGAN, Harvard Graduate School of Education

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Product details

Hardcover: 256 pages

Publisher: Wiley; 1 edition (February 6, 2018)

Language: English

ISBN-10: 9781119487623

ISBN-13: 978-1119487623

ASIN: 1119487625

Product Dimensions:

6.3 x 1 x 9.1 inches

Shipping Weight: 1 pounds (View shipping rates and policies)

Average Customer Review:

4.4 out of 5 stars

39 customer reviews

Amazon Best Sellers Rank:

#20,499 in Books (See Top 100 in Books)

I just finished reading the book and really enjoyed the read. It somehow confirms some of the basic ideas of strategy formulation and implementation, in terms of the need to have a coordinated efforts on multi fronts to have a successful strategy, but concentrated in 10 levers that the authors believe make the biggest impact.The authors concluded that companies that made it to the top of a Power Curve (a curve that ranks companies on their ability to create economic profits, with the ones on the top generating exponentially more economic profit than the 2300 or so companies in the sample) shared a similar characteristics in using 10 levers that contributed the most in the success of companies. If the statistical analysis of the presented results are correct (I assume they are, but have no mean to confirm or disagree), this view gives a good yard stick to compare companies from different industries and sizes on their ability to create value, and could be used as a guide post in strategy formulation to achieve better results. The authors referred to the social side of strategy (cognitive biases, status quo...etc) and their effect on strategy formulation and resources allocation, and contend that, used correctly, the Power Curve could be used to "de-bias" and have constructive discussions on strategy. The authors finally propose 8 shifts in the way strategy exercises are conducted, to improve the process and increase the chances of success.Overall very interesting read, and i think the recommendations are practical and implementable, and could be used in strategy discussions in all companies!

I found this book to be particularly bad. The authors had some good insights like “don’t allocate resources across many opportunities; rather, pick your best ones and allocate them there”. But most of the book focused on completely non-actionable information. For example, if you have the best endowment (i.e., you are much bigger than the competition, have low debt levels, and have historically spend a lot on R&D relative to your competitors) you are more likely to earn outsized returns for your shareholders (which is how they measure good strategy). Of course as of right now, there is nothing you can do about that.They do acknowledge that some of their advice is non-actionable, but seem to miss the boat that almost none of their advice is actionable. For example, outside of your endowment your “trends” also significantly impact your ability. Trends reflect how strongly your industry is growing and how strong your geography is growing (e.g., China vs the UK). Of course you could completely change industries or move to an area like China to benefit from better geographical trends, but it seems far fetched that anyone could do either of these things without significant capital and knowledge.The last area they discuss, “moves”, are what they believe are the items truly under your control. But the items they discuss in this section are almost as intractable as the others. Specifically, moves are programmatic M&A, dynamic allocation of resources, strong capex, strong productivity gains (i.e., overall margins and labor productivity), and improvements in differentiation (i.e., great gross margins deriving from being able to charge high prices because of a great product or generate outsized returns because you are operationally better than the competition). So basically 1) make good acquisitions regularly, 2) allocate resources regularly and to the best opportunities, 3) spend money on capex wisely, 4) make sure you continue to manage your overhead better than your competitors, and 5) build products that your customers like better than the competition even though you charge more than they do.If this all seems like “well of course that’s what I should do, but how do I do that” that’s what I thought by the end. Basically a lot of “run your business better than the competition and you will end up earning more money than they do!” I would not recommend this book if you are looking for practical ways to improve your strategy. Instead, check out “Good Strategy, Bad Strategy” which is significantly more useful and entertaining to read to boot.

I read a lot of business strategy books, and this one is the very best. It laid raw the presumptive reasoning that almost forces you to leverage your immediate desires for you business by using un-risked guessing about what your future is.

This is a fantastic read which unveils some key insights on the reality of 'the social side of strategy' which is endemic in today's large scale enterprises. In order to make 'big moves' and reduce the likelihood of the infamous 'hairy back', executives need to pay greater attention to the behavioral characteristics inside the corporate boardroom which prevent firms from truly delivering economic value beyond the middle of the pack.I recommend this for corporate strategists and any c-level executive in search of achieving a real 'hockey stick'.

I recommend this book to anyone leading a digital transformation process; as you will get the right approach on identifying those big bets that will be required

Best new book on business strategy in the 21st century. Very helpful insight that can be applied to the real world.

Overall was still helpful to understand what are the key suggests factors to evaluate. Would recommend based on premise but finished the book a bit disappointed.

Interesting analysis how the book segments companies into losers, mediocre and winners. And then explains what the winners did to do it. Can not be business as usual, got to be creative, think out of the box and take well thought out risks.The jockey stick emblemizes the usual anual business plans and projections, first down but the future projections bright, and which never happen. The book explains.

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