The business strategy speech by Richard Rumelt is about his 2011 book ‘Good Strategy/Bad Strategy.’ This work focuses on the difference between the two. The speaker notes that bad strategy is not an absence of strategy, but rather mistaken beliefs and ineffective thought processes that are not advantageous. He acknowledges most business strategy is conceptualized around economics, and while this is not wrong, this is only one approach. This is something many in business fail to realize. He believes using different language results in people coming to different perspectives, which is key to good strategy.
This business strategy speech is not only pertinent to people in the business world or who work in finance or economics, but for governmental organizations, non-profits and the education system. Developing a solid strategy is a key characteristic for any leader, regardless of their industry.