Imagine running a business without a strategy. It would be akin to driving blindfolded, to building a house without a blueprint. Yet just 50 years ago, business “plans” were mere extrapolations of the status quo, heedless of the forces that determine the fate of today’s organizations: competitive threats, customer needs, and business costs. The concept of strategy changed all that, paving the way for the creation of the modern corporate world.
The Lords of Strategy recounts the birth and evolution of strategy — arguably the most influential business paradigm of the past half century — and the trials and triumphs of the surprising disruptors who invented it. Principal among them were four men: Bruce Henderson, found of the Boston Consulting Group; Bill Bain, creator of Bain & Company; Fred Gluck, longtime managing director of McKinsey & Company; and Harvard Business School professor Michael Porter. Each was obsessed with pinpointing how companies achieve competitive advantage over others. This insider account reveals these industry’s pioneers as “idea junkies” - a new breed of intellectuals who wielded concepts as weapons for fighting business battles. Their relentless efforts to plumb the depths of competition exploded much of the prevailing wisdom, galvanized executives into action, and forced companies to understand themselves as never before.
An important book by one of management’s keenest observers, The Lords of Strategy provides listeners with a deeper understanding of the world they compete in and a sharper eye for what works — and what doesn’t — when forging strategy.
©2010 Walter Kiechel III (P)2010 Brilliance Audio, Inc.
“[Kiechel’s] ‘The Lords of Strategy’ is a clear, deft and cogent portrait of what the author calls the most powerful business idea of the past half-century." (The Wall Street Journal)
"Kiechel has done a real service…in bringing his subject to life. The book serves as a primer as well as a history, and as such almost any executive or B-school student would do well to pick it up.” (The Conference Board Review)
Essentially, this book examines the arguments about the value of business strategy though the lense of management history. The author follows the progression of strategic thinking to the present. The work of consultants and academics building theory is all here. I have been familiar with the strategic models and literature for a number of yours, but this volume puts a real face on the entire process. Troubling is the influence of a handful of academics and consultants on contemporary business thinking. I just had not thought of the evolution of strategic thought in this context.
This is a great book, well written and expertly read by Robertson Dean. Anyone who works in business will benefit by listening to this one with one caveat. If you are familiar with the basic strategic planning models (Five Forces, BCG Matrix, etc) you will do fine. If not, you will benefit, perhaps,l more by reading the paper copy.
Old & fat, but strong; American, Chinese, & Indian (sort of); Ph.D. in C.S.; strategy, economics & stability theory; trees & machining.
The book is a rather linear history of business strategy. It starts with roughly a chapter for each of the great contributors to the field (i.e., each of the ???lords of strategy???). But as the time-line progresses the story becomes more fractured with fewer ???Lords??? and many lesser contestants in the market place of ideas. Presumably this is corresponds to the real world, but the result is that the book undergoes a gradual change in style, ending with a very different style than it starts.
The book argues that the big Boston consulting firms were at the heart of this story. This simultaneously seems truer than I had realized and somewhat biased (e.g., where does Stanford and Silicon Valley fit in to this story).
Some of the history was not well known to me and I suspect is not widely known.
Readers looking for context will rate this book higher (e.g., 5 stars). Reader looking for more than context will probably rate the book lower (e.g., 3 stars).
This is an intelligent, very well-researched analysis of the evolution of strategy as it has been practiced by the major consulting firms in the US, such as BCG, Bain and Co, and McKinsey. The book has a biographical style, but the reader learns as much about strategy as the people who practiced.
Learning about the consulting industry from a historical framework, made me able to truly absorb the impact of inovations, such as the BCG matrix.
The historic framework used to talk about the consulting industry and its evolution.
The evolution of modern business strategy.
Synopsized the best ideas of leaders in the field of strategy.
Bruce Henderson founder of Boston Consulting Group.
It made me realize my own strengths and unique insights on the subject while also refining other areas that were the strengths of the "lords" throughout the book.
Management Consulting Insights
Bill Bain,for his innovation
Great read/listen - entertaining, intellectually stimulating with knowledge and lessons vital for the understanding and practice of modern management consulting.
The author has done a wonderful job of outlining the development and evolution of corporate strategy firms and how they influenced the businesses they worked with. The book is engaging and very well written, moving quickly through 50 years of history.
In addition, Robertson Dean does a wonderful job of narrating the book.
The author spends too much time name dropping of other people and promoting their books. Too much back and forth. Take too long to get to the point of the book. Would not recommend.
Audible obsessed lifelong learner.
A good summary of the fathers of strategy such as Ducker who lead to thinkers such as Porter and others. The big consulting agencies such as Boston Consulting Group, Mckenzie, Bayne and others built on the Strategy momentum by pulling in the top tier MBA programs high flyers to change how business is done. Kiechel does a great job of giving a good historical look at how the industry was built and how the cut throat high octane day in the life takes place.
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