The Lords of Strategy

The Secret Intellectual History of the New Corporate World

By: Walter Kiechel III

Narrated by: Robertson Dean

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.

Critic reviews

“[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)

A History of Business Strategy Consulting

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).

History of strategy

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.

Great book - wonderful reading

Everything I hoped for and much more. An amazing overview of the consulting world. Wonderful insight.

Fascinating and entertaining read

If you could sum up The Lords of Strategy in three words, what would they be?

Management Consulting Insights

Who was your favorite character and why?

Bill Bain,for his innovation

Any additional comments?

Great read/listen - entertaining, intellectually stimulating with knowledge and lessons vital for the understanding and practice of modern management consulting.

A good history lesson with seeds of wisdom

If you could sum up The Lords of Strategy in three words, what would they be?

The evolution of modern business strategy.

What did you like best about this story?

Synopsized the best ideas of leaders in the field of strategy.

Which character – as performed by Robertson Dean – was your favorite?

Bruce Henderson founder of Boston Consulting Group.

Did you have an extreme reaction to this book? Did it make you laugh or cry?

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.