PROLOGUE

The Truly Scarce Resources

Too many companies are living in yesterday’s world. They are seeking competitive advantage through traditional methods, and they aren’t finding it. And they are missing their main opportunity for boosting performance and outstripping competitors.

Let us explain what we mean.

Strategy is the art and science of resource allocation. CEOs and their senior teams are ultimately responsible for setting strategy. So the hallmark of great leaders is the ability to allocate their companies’ scarce resources to outpace rivals.

For most of the past fifty years, the number-one resource executives obsessed about was financial capital. Money was scarce, and those who could obtain it and put it to work most effectively were ...

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