September 2021
Intermediate to advanced
414 pages
11h 3m
English
Content preview from The Financial Times Guide to Strategy, 5th Edition
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CHAPTER 4
THE STRANGE POWER OF THE 35 WORD STRATEGY
‘Can you summarize your company’s strategy in 35 words or less? If so, would your colleagues put it the same way?’
So starts a recent prize-winning article by David Collis and Michael Rukstad.23 They go on to say that most managers can’t meet the 35 word challenge, or else different executives would come up with different answers. In that case the firm’s employees can’t know what the strategy is, and a huge amount of energy is wasted because different people and projects are working to different agendas.
By contrast, there are a few firms where all employees know the strategy, with powerful results. The authors cite the case of Edward Jones, the fourth-largest brokerage firm in the United States, ...
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