Strategy Execution Quotes

Whenever I am in a difficult situation where there seems to be no way out, I think about all the times I have been in such situations and say to myself, "I did it before, so I can do it again.

When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work – the most you will make is 5 dollars.

Today is a new day and it brings with it a new set of opportunities for me to act on. I am attentive to the opportunities and I seize them as they arise. I have full confidence in myself and my abilities. I can do all things that I commit myself to. No obstacle is too big or too difficult for me to handle because what lies inside me is greater than what lies ahead of me. I am committed to improving myself and I am getting better daily. I am not held back by regret or mistakes from the past. I am moving forward daily. Absolutely nothing is impossible for me.

Strategy is a commodity, execution is an art.

Strategy is really the essence of the boards value proposition to the company. The ability to strategize well is the essence of what makes a board relevant.

With proper strategy, if you enter a war, you can defeat even the biggest army otherwise you can be defeated by even the smallest army.

The success of a strategy largely depends on it's implementation. You can have a good strategy, you can have a winning game plan, but ultimately you and your team have to implement the strategy and execute and put the game plan into action if your business is going to succeed.

The business landscape is a constantly evolving ecosystem. Changes in the macro environment, such as technological disruptions or changing consumer preferences, can rapidly alter the competitive landscape. A high-performing board needs to be adept at strategic foresight.

The business environment is constantly evolving. Economic fluctuations, technological disruptions, regulatory shifts, and competitive pressures demand that companies be able to adjust their goals and strategies.

Above all, success in business requires two things: a winning competitive strategy, and superb organizational execution. Distrust is the enemy of both. I submit that while high trust won't necessarily rescue a poor strategy, low trust will almost always derail a good one.

In today's global economy, it's essential that businesses efficiently execute on or plug into logistics.

Effective corporate governance ensures that the vision and strategy are aligned, with the board of directors playing a crucial role in defining the vision and overseeing the development and execution of the strategy.

To be on the same page, we need to be in the same book.

While good strategy content is based on a compelling value proposition for buyers with a robust profit proposition for the organization, sustainable strategy execution is based largely on a motivating-people proposition.

Be creative while inventing ideas, but be disciplined while implementing them.

A successful blitz requires a well-thought-out strategy and flawless execution. Similarly, effective corporate governance involves developing and implementing sound strategies that align with the company's goals and values.

I have always been fascinated by the intricate dance of power, strategy, and decision-making that unfolds within the boardroom. It is a microcosm of human interaction, where the fate of companies, communities, and sometimes even nations, is shaped.

articulate and define what has previously remained implicit or unsaid;

Transitioning a business from current state to future state requires clear strategy, adaptability, synergy among all involved and a dedication to execution - among other things.

To pretend to ignore the enemy is the best way to seduce the enemy

The hardware of a computer is useless without the right software. Similarly, in an organization the hardware (strategy and structure) is inert without the software (beliefs and behaviors).

In the early stages of a startup, focusing on “execution” will put you out of business. Instead, you need a “learning and discovery” process so you can get the company to the point where you know what to execute.

The significant problems we face cannot be solved by the same level of thinking that created them.

So, execution is really the critical part of a successful strategy. Getting it done, getting it done right, getting it done better than the next person is far more important than dreaming up new visions of the future.

(S × E)T = R ([Strategy times Execution] multiplied by Trust equals Results)

If you don't know how to execute, every strategy will fail, even the most promising ones. As one of my former bosses observed: “No strategy is better than its execution.

The best leaders never stop learning.

One idea alone is a tactic, but if it can be executed a number of different ways, it becomes a great strategy.

life can be organized like a business plan. First you take an inventory of your gifts and passions. Then you set goals and come up with some metrics to organize your progress toward those goals. Then you map out a strategy to achieve your purpose, which will help you distinguish those things that move you toward your goals from those things that seem urgent but are really just distractions. If you define a realistic purpose early on and execute your strategy flexibly, you will wind up leading a purposeful life. You will have achieved self-determination, of the sort captured in the oft-quoted lines from William Ernest Henley’s poem “Invictus”: “I am the master of my fate / I am the captain of my soul.

You can learn a lot about business by watching sports. Some of the strategies you see being executed in a sports game can actually be translated into business terms and executed to achieve business success.

When the business environment is competitive, it's often strategy and execution that makes the difference between winners and losers.

Strategy is, in essence, problem solving, and the best approach depends upon the specific problem at hand. Your environment dictates your approach to strategy.

The Six Steps to Success: 1) Define Success 2) Devise a Plan 3) Execute and Overcome Adversity 4) Measure Results with Key Metrics 5) Revise the Plan 6) Work Hard

Messages are more often “heard” when the communicator is honest, sincere, and succinct. In other words, say what you mean, and mean what you say.

When there is no coherent strategy, tactics, no matter how flashily executed, become meaningless.

Commitment, trust, and voluntary cooperation are not merely attitudes or behaviors. They are intangible capital. They allow companies to stand apart in the speed, quality, and consistency of their execution and to implement strategic shifts fast at low cost.

A promising junior executive of IBM was involved in a risky venture for the company and managed to lose over $10 million in the gamble. It was a disaster. When Watson called the nervous executive into his office, the young man blurted out, 'I guess you want my resignation?' Watson said, 'You can't be serious. We've just spent $10 million educating you!

Consider an AI that has hedonism as its final goal, and which would therefore like to tile the universe with “hedonium” (matter organized in a configuration that is optimal for the generation of pleasurable experience). To this end, the AI might produce computronium (matter organized in a configuration that is optimal for computation) and use it to implement digital minds in states of euphoria. In order to maximize efficiency, the AI omits from the implementation any mental faculties that are not essential for the experience of pleasure, and exploits any computational shortcuts that according to its definition of pleasure do not vitiate the generation of pleasure. For instance, the AI might confine its simulation to reward circuitry, eliding faculties such as a memory, sensory perception, executive function, and language; it might simulate minds at a relatively coarse-grained level of functionality, omitting lower-level neuronal processes; it might replace commonly repeated computations with calls to a lookup table; or it might put in place some arrangement whereby multiple minds would share most parts of their underlying computational machinery (their “supervenience bases” in philosophical parlance). Such tricks could greatly increase the quantity of pleasure producible with a given amount of resources.

If you can’t describe your strategy in twenty minutes, simply and in plain language, you haven’t got a plan.

Most companies that win don't have a unique strategy; quite the opposite, they are doing what everyone else is doing but have figured out how to execute better.

I catch the idea by two senses. But when I read aloud I hear what is read and I see it, and hence two senses get it and I remember it better, if I do not understand it better.

Board of Directors members should each bring something unique to the table; and they should share their uniqueness with the rest of the board to inform key decisions.

In an ExO world, purpose trumps strategy and execution overrides planning.

Strategy is Circular it is not linear

One IT executive in an investment banking company claimed that 80 percent of his company’s programming code was dedicated to linking disparate systems, as opposed to creating new capabilities.

In all other construction disciplines, engineers plan a construction strategy that craftmen execute. Engineers don't build bridges; ironworkers do. Only in software is the engineer tasked with actually building the product. Only in software is the "ironworker" tasked with determining how the product will be constructed.

Executives are paralyzed by the muddle. Few employees deep down in the company even know what the strategy is. And a closer look reveals that most plans don’t contain a strategy at all but rather a smorgasbord of tactics that individually make sense but collectively don’t add up to a unified, clear direction that sets a company apart—let alone makes the competition irrelevant. Does this sound like the strategic plans in your company?

We become blinded by arrogance when we’re utterly convinced of our strengths and our strategies. We get paralyzed by doubt when we lack conviction in both. We can be consumed by an inferiority complex when we know the right method but feel uncertain about our ability to execute it. What we want to attain is confident humility: having faith in our capability while appreciating that we may not have the right solution or even be addressing the right problem. That gives us enough doubt to reexamine our old knowledge and enough confidence to pursue new insights.

It is easier and far more satisfying to retreat and compose yourself after every score—and execute perfectly choreographed plays—than to swarm about, arms flailing, and contest every inch of the basketball court. Underdog strategies

Brainstorm your big idea(s). (2 hrs) Identify your product, customer, competition, and sales/marketing strategy. (2 hrs) Identify your plan for operations, management, capitalization, and finances. (4 hrs) Create a life plan. (4 hrs) Validate your business idea. (8 hrs) Type up your finished business plan. (4 hrs) Execute and follow through on your plan.

Above all, success in business requires two things: a winning competitive strategy, and superb organizational execution. Distrust is the enemy of both.” I submit that while high trust won’t necessarily rescue a poor strategy, low trust will almost always derail a good one.

Frederick consistently used his central position to concentrate against one fraction of the enemy, and he always employed tactics of indirect approach. Thereby he gained many victories. But his tactical indirect approach was geometrical rather than psychological-unprepared by the subtler forms of surprise favoured by Scipio-and for all their executive skill, these manoeuvres were narrow. The opponent might be unable to meet the following blow, owing to the inflexibility of his mind or his formations, but the blow itself did not fall unexpectedly.

A Strategy, no matter how beautifully crafted, has to be executed by and with the people. Therefore, Invest in the people. Communicate the vision and strategy to them. Give them the opportunity to demonstrate how their day-to-day activities contribute to the organisation's strategy

He says, "It's just a hat." But it's not just a hat. It makes Jess think of racism and hatred and systemic inequality, and the Ku Klux Klan, and plantation-wedding Pinterest boards, and lynchings, and George Zimmerman, and the Central Park Five, and redlining, and gerrymandering and the Southern strategy, and decades of propaganda and Fox News and conservative radio, and rabid evangelicals, and rape and pillage and plunder and plutocracy and money in politics and the dumbing down of civil discourse and domestic terrorism and white nationalists and school shootings and the growing fear of a nonwhite, non-English-speaking majority and the slow death of the social safety net and conspiracy theory culture and the white working class and social atomism and reality television and fake news and the prison-industrial complex and celebrity culture and the girl in fourth grade who told Jess that since she--Jess--was "naturally unclean" she couldn't come over for birthday cake, and executive compensation, and mediocre white men, and the guy in college who sent around an article about how people who listen to Radiohead are smarter than people who listen to Missy Elliott and when Jess said "That's racist" he said "No,it's not," and of bigotry and small pox blankets and gross guys grabbing your butt on the subway, and slave auctions and Confederate monuments and Jim Crow and fire hoses and separate but equal and racist jokes that aren't funny and internet trolls and incels and golf courses that ban women and voter suppression and police brutality and crony capitalism and corporate corruption and innocent children, so many innocent children, and the Tea Party and Sarah Palin and birthers and flat-earthers and states' rights and disgusting porn and the prosperity gospel and the drunk football fans who made monkey sounds at Jess outside Memorial Stadium, even though it was her thirteenth birthday, and Josh--now it makes her think of Josh.

Strategy is important. Execution is imperative. However, the most overlooked aspect in team sports, and what most coaches and leaders fail to grasp, is the fact that it is your culture that will determine whether your strategy works and is sustainable. It is the culture you create that is going to determine whether your players perform and execute.

Automation promises to execute certain tasks with superhuman speed and precision. But its brittle limitations reveal themselves when the unexpected arises. Studies consistently show that, as overseers, humans make for fickle partners to algorithms. Charged with monitoring for rare failures, boredom and passivity render human supervision unreliable.

When the conduct of men is designed to be influenced, persuasion, kind, unassuming persuasion, should ever be adopted. It is an old and a true maxim, that a “drop of honey catches more flies than a gallon of gall.” So with men. If you would win a man to your cause, first convince him that you are his sincere friend. Therein is a drop of honey that catches his heart, which, say what he will, is the great high road to his reason, and which, when once gained, you will find but little trouble in convincing his judgment of the justice of your cause, if indeed that cause really be a just one. On the contrary, assume to dictate to his judgment, or to command his action, or to mark him as one to be shunned and despised, and he will retreat within himself, close all the avenues to his head and his heart; and tho’ your cause be naked truth itself . . . you shall no more be able to [reach] him, than to penetrate the hard shell of a tortoise with a rye straw. Such is man, and so must he be understood by those who would lead him, even to his own best interest. [Italics added]

Execution strategies: do / buy / delegate / forget.

A win is in the past as soon as it has happened, so we need to measure ourselves in terms of our understanding of the process and our execution of the key variables.

The good news is that you can minimize the bias preserved by AI, but this comes as a joint responsibility between leaders, domain experts, and developers.

A good plan violently executed now is better than a perfect plan next week.” The

I am a leader, therefore I lead; I am an executive, therefore I execute; I am a human being, therefore I care.

Any chief executive who hires a consultant to give them strategy should be fired.

If there are no new ideas, there is no innovation. And if there is no creativity, there are no new ideas.

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” ~ Mark Twain

In God we trust; all others must bring data. ~ W. Edwards Deming

To reach your organization’s tipping point and execute blue ocean strategy, you must alert employees to the need for a strategic shift and identify how it can be achieved with limited resources. For a new strategy to become a movement, people must not only recognize what needs to be done, but they must also act on that insight in a sustained and meaningful way. How

Paranoia is acceptable in the new friendship paradigm. Worrying that your best employees or customers might leave is ok, as long as you put in place an active strategy to offset any possibility of that scenario.

marketing strategy is a clear explanation of how you’re going to get there, not where or what “there” is. An effective marketing strategy is a concise explanation of your stated plan of execution to reach your objectives.

James MacGregor Burns wrote that “the Leader’s fundamental act is to induce people to be aware or conscious of what they feel – to feel their true needs so strongly, to define their values so meaningfully, that they can be moved to purposeful action.

Grove continued to act on the conviction that good strategic thinking requires different points of view and clarifying those different points of view requires intensive, ongoing debate involving the executive team and domain experts inside and outside the company.

If you would not spend time looking at it, do not ship it. One of the best quality assurance rules of thumb is to avoid publishing content that you would not consume. Simple, yet so hard to execute on. My audience deserves my very best. Repeat that to yourself every single day.

The only way you can motivate people is to communicate with them.” Effective communication also shapes values for people by “not only bringing company philosophy to life . . . ,” as Peters and Austin put it, but also “helps newcomers understand how shared values affect individual performance.

Chess is 99 per cent tactics. If you don’t pay attention to the tactics, no strategy you devise will fetch you rewards. Strategy can’t compensate for mistakes in execution. If you persist with neat execution, it will keep you in the game even if you’re not able to follow a broader strategy. Strategy without tactics, though, falls at the first hurdle. For me, strategizing for a game isn’t about putting together a specific manoeuvre of pieces. It’s about thinking what my opponent could be aiming for, knowing what my objectives are and then preparing to get what I want out of the game.

Beyond the pitch, the must successful Public Relations agencies are BOSS because they know the power of strategic execution and can be trusted to get the job done. They have broad affiliations and talented staff who know their industry, and are willing to try new ways to reach a wider audience.

Voluntary cooperation is more than mechanical execution, where people do only what it takes to get by. It involves going beyond the call of duty, wherein individuals exert energy and initiative to the best of their abilities—even subordinating personal self-interest—to execute resulting strategies.3

It seems self-evident that a leader must have a vision, develop a strategy, and put a plan in place to bring the vision to reality. The concept is simple, but the execution is extremely difficult. It is difficult because it requires a leader’s full attention, and with all leaders, there are a hundred things a day that divert your attention.

principles of masterful planning 1. Be clear on purpose. 2. Start with an accurate assessment of today. 3. Create a shared vision of success. 4. Identify your critical successful factors and barriers. 5. Define the drivers: your strategies and priorities. 6. Monitor and report results. 7. Have rewards and consequences to build accountability.

I recommend that you focus on both substance and process of your goals. I believe that both are equally important: by setting a high-quality SMART goal you will enable yourself to be conscious and your actions will carry more meaning; meanwhile, it is the execution of the SMART goals strategy that separates achievers from the rest of the people.

Many companies enter businesses planning to capture only a small percentage of the market. Such plans are not conservative; they are extremely dangerous. They are strategies for failure. The only good plans and the only good marketing programs are those aimed at dominance, backed by sufficient resources to achieve it, and executed with precision.

The final element is execution. The only way a strategy can get implemented is if we dedicate resources to it. Good intentions are not enough—you’re not implementing the strategy that you intend if you don’t spend your time, your money, and your talent in a way that is consistent with your intentions. In your life, there are going to be constant demands for your time and attention. How are you going to decide which of those demands gets resources? The trap many people fall into is to allocate their time to whoever screams loudest, and their talent to whatever offers them the fastest reward. That’s a dangerous way to build a strategy. All of these factors—priorities, balancing plans with opportunities, and allocating your resources—combine to create your strategy.

Any good strategy involves risk. If you think your strategy is foolproof, the fool may well be you. Execution, too, is uncertain — what works in one company with one workforce may have different results elsewhere. Chance often plays a greater role than we think, or than successful managers usually like to admit. The link between inputs and outcomes is tenuous. Bad outcomes don’t always mean that managers made mistakes; and good outcomes don’t always mean they acted brilliantly.

Your rival has ten weak points, whereas you have ten strong ones. Although his army is large, it is not irresistible. “Yuan Shao is too caught up in ceremony and show while you, on the other hand, are more practical. He is often antagonistic and tends to force things, whereas you are more conciliatory and try to guide things to their proper courses, giving you the advantage of popular support. His extravagance hinders his administrative ability while your better efficiency is a great contribution to the government, granting you the edge of a well-structured and stable administration. On the outside he is very kind and giving but on the inside he is grudging and suspicious. You are just the opposite, appearing very exacting but actually very understanding of your followers’ strengths and weaknesses. This grants you the benefit of tolerance. He lacks commitment where you are unfaltering in your decisions, promptly acting on your plans with full faith that they will succeed. This shows an advantage in strategy and decisiveness. He believes a man is only as good as his reputation, which contrasts with you, who looks beyond this to see what kind of person they really are. This demonstrates that you are a better judge of moral character. He only pays attention to those followers close to him, while your vision is all-encompassing. This shows your superior supervision. He is easily misled by poor advice, whereas you maintain sound judgment even if beset by evil council. This is a sign of your independence of thought. He does not always know what is right and wrong but you have an unwavering sense of justice. This shows how you excel in discipline. He has a massive army, but the men are poorly trained and not ready for war. Your army, though much smaller, is far superior and well provisioned, giving you the edge in planning and logistics, allowing you to execute effectively. With your ten superiorities you will have no difficulty in subduing Yuan Shao.

Having outgrown its Manhattan headquarters, most of Bell Labs moved to two hundred rolling acres in Murray Hill, New Jersey. Mervin Kelly and his colleagues wanted their new home to feel like an academic campus, but without the segregation of various disciplines into different buildings. They knew that creativity came through chance encounters. “All buildings have been connected so as to avoid fixed geographical delineation between departments and to encourage free interchange and close contact among them,” an executive wrote.11 The corridors were extremely long, more than the length of two football fields, and designed to promote random meetings among people with different talents and specialties, a strategy that Steve Jobs replicated in designing Apple’s new headquarters seventy years later. Anyone walking around Bell Labs might be bombarded with random ideas, soaking them up like a solar cell. Claude Shannon, the eccentric information theorist, would sometimes ride a unicycle up and down the long red terrazzo corridors while juggling three balls and nodding at colleagues.III It was a wacky metaphor for the balls-in-the-air ferment in the halls.

The key questions answered by tipping point leaders are as follows: What factors or acts exercise a disproportionately positive influence on breaking the status quo? On getting the maximum bang out of each buck of resources? On motivating key players to aggressively move forward with change? And on knocking down political roadblocks that often trip up even the best strategies? By single-mindedly focusing on points of disproportionate influence, tipping point leaders can topple the four hurdles that limit execution of blue ocean strategy. They can do this fast and at low cost. Let

The principles of war are the same as those of a siege. Fire must be concentrated on one point, and as soon as the breach is made, the equilibrium is broken and the rest is nothing.' Subsequent military theory has put the accent on the first clause instead of on the last: in particular, on the words 'one point' instead of on the word 'equilibrium'. The former is but a physical metaphor, whereas the latter expresses the actual psychological result which ensures 'that the rest is nothing'. His own emphasis can be traced in the strategic course of his campaigns. The word 'point' even, has been the source of much confusion, and more controversy. One school has argued that Napoleon meant that the concentrated blow must be aimed at the enemy's strongest point, on the ground that this, and this only, ensures decisive results. For if the enemy's main resistance be broken, its rupture will involve that of any lesser opposition. This argument ignores the factor of cost, and the fact that the victor may be too exhausted to exploit his success-so that even a weaker opponent may acquire a relatively higher resisting power than the original. The other school-better imbued with the idea of economy of force, but only in the limited sense of first costs-has contended that the offensive should be aimed at the enemy's weakest point. But where a point is obviously weak this is usually because it is remote from any vital artery or nerve centre, or because it is deliberately weak to draw the assailant into a trap. Here, again illumination comes from the actual campaign in which Bonaparte put this maxim into execution. It clearly suggests that what he really meant was not 'point', but 'joint'-and that at this stage of his career he was too firmly imbued with the idea of economy of force to waste his limited strength in battering at the enemy's strong point. A joint, however, is both vital and vulnerable. It was at this time too, that Bonaparte used another phrase that has subsequently been quoted to justify the most foolhardy concentrations of effort against the main armed forces of the enemy. 'Austria is our most determined enemy....Austria overthrown, Spain and Italy fall of themselves. We must not disperse our attacks but concentrate them.' But the full text of the memorandum containing this phrase shows that he was arguing, not in support of the direct attack upon Austria, but for using the army on the frontier of Piedmont for an indirect approach to Austria.

There is a real danger in believing it when people use the word “genius”—and it’s even more dangerous when we let hubris tell ourselves we are one. The same goes for any label that comes along with a career: are we suddenly a “filmmaker,” “writer,” “investor,” “entrepreneur,” or “executive” because we’ve accomplished one thing? These labels put you at odds not just with reality, but with the real strategy that made you successful in the first place. From that place, we might think that success in the future is just the natural next part of the story—when really it’s rooted in work, creativity, persistence, and luck.

From Bourcet he learnt the principle of calculated dispersion to induce the enemy to disperse their own concentration preparatory to the swift reuniting of his own forces. Also, the value of a 'plan with several branches', and of operating in a line which threatened alternative objectives. Moreover, the very plan which Napoleon executed in his first campaign was based on one that Bourcet had designed half a century earlier. Form Guibert he acquired an idea of the supreme value of mobility and fluidity of force, and of the potentialities inherent in the new distribution of an army in self-contained divisions. Guibert had defined the Napoleonic method when he wrote, a generation earlier: 'The art is to extend forces without exposing them, to embrace the enemy without being disunited, to link up the moves or the attacks to take the enemy in flank without exposing one's own flank.' And Guibert's prescription for the rear attack, as the means of upsetting the enemy's balance, became Napoleon's practice. To the same source can be traced Napoleon's method of concentrating his mobile artillery to shatter, and make a breach at, a key point in the enemy's front. Moreover, it was the practical reforms achieved by Guibert in the French army shortly before the Revolution which fashioned the instrument that Napoleon applied. Above all, it was Guibert's vision of a coming revolution in warfare, carried out by a man who would arise from a revolutionary state, that kindled the youthful Napoleon's imagination and ambition. While Napoleon added little to the ideas he had imbibed, he gave them fulfilment. Without his dynamic application the new mobility might have remained merely a theory. Because his education coincided with his instincts, and because these in turn were given scope by his circumstances, he was able to exploit the full possibilities of the new 'divisional' system. In developing the wider range of strategic combinations thus possible Napoleon made his chief contribution to strategy.

especially in the key task of translating broad strategic concepts into feasible operational orders. Marshall understood that Eisenhower had a talent for implementing strategy. And that job, Marshall believed, was more difficult than designing it. “There’s nothing so profound in the logic of the thing,” he said years later, discussing his own role in winning approval for the Marshall Plan. “But the execution of it, that’s another matter.” In other words, successful generalship involves first figuring out what to do, then getting people to do it. It has one foot in the intellectual realm of critical thinking and the other in the human world of management and leadership. It

Executives who complain about “execution” problems have usually confused strategy with goal setting. When the “strategy” process is basically a game of setting performance goals—so much market share and so much profit, so many students graduating high school, so many visitors to the museum—then there remains a yawning gap between these ambitions and action. Strategy is about how an organization will move forward. Doing strategy is figuring out how to advance the organization’s interests. Of course, a leader can set goals and delegate to others the job of figuring out what to do. But that is not strategy. If that is how the organization runs, let’s skip the spin and be honest—call it goal setting.

In the book The Hard Thing About Hard Things, author Ben Horowitz points out that there is “no recipe for really complicated, dynamic situations. . . . That’s the hard thing about hard things . . . there is no formula for dealing with them . . . but there are bits of advice and experience that can help with the hard things.” It’s the same with getting scrappy. What makes this kind of effort stand out is the very fact that it can’t be bottled and sold on a shelf. But we can learn from those who have gone before us and benefit from their experience. Below you will find a quick road map of our journey. The content of this book will be divided into three sections exploring attitude, strategy, and execution. Here’s how the chapters will unfold in the pages ahead:

I ask why they picked that particular failing strategy. A common answer: They say that they heard that it was a perfect strategy, an A-strategy, for getting word out about a company. Everyone is using it. What they haven’t taken into account, though, is their own disposition, talents, and resources. Their own readiness. Businesses are like individuals. What’s perfect for one is awful for another. There is no such thing as an objective “A-strategy.” An A-strategy is only an A-strategy if you’ll execute on it. If you don’t have the desire, talent, or resources to fully execute, then your B- or C-strategy should be elevated to A-strategy status. Execute on the strategy you’ll perform with gusto. Gusto matters. Excitement matters. Follow-through matters. Completion matters.

Instead of focusing on getting more resources, tipping point leaders concentrate on multiplying the value of the resources they have. When it comes to scarce resources, there are three factors of disproportionate influence that executives can leverage to dramatically free resources, on the one hand, and multiply the value of resources, on the other. These are hot spots, cold spots, and horse trading. Hot spots are activities that have low resource input but high potential performance gains. In contrast, cold spots are activities that have high resource input but low performance impact. In every organization, hot spots and cold spots typically abound. Horse trading involves trading your unit’s excess resources in one area for another unit’s excess resources to fill remaining resource gaps. By learning to use their current resources right, companies often find they can tip the resource hurdle outright. What

In 1998, he helped organize the first “advanced chess” tournament, in which each human player, including Kasparov himself, paired with a computer. Years of pattern study were obviated. The machine partner could handle tactics so the human could focus on strategy. It was like Tiger Woods facing off in a golf video game against the best gamers. His years of repetition would be neutralized, and the contest would shift to one of strategy rather than tactical execution. In chess, it changed the pecking order instantly. “Human creativity was even more paramount under these conditions, not less,” according to Kasparov. Kasparov settled for a 3–3 draw with a player he had trounced four games to zero just a month earlier in a traditional match. “My advantage in calculating tactics had been nullified by the machine.” The primary benefit of years of experience with specialized training was outsourced, and in a contest where humans focused on strategy, he suddenly had peers. A few years later, the first “freestyle chess” tournament was held. Teams could be made up of multiple humans and computers. The lifetime-of-specialized-practice advantage that had been diluted in advanced chess was obliterated in freestyle. A duo of amateur players with three normal computers not only destroyed Hydra, the best chess supercomputer, they also crushed teams of grandmasters using computers. Kasparov concluded that the humans on the winning team were the best at “coaching” multiple computers on what to examine, and then synthesizing that information for an overall strategy. Human/Computer combo teams—known as “centaurs”—were playing the highest level of chess ever seen. If Deep Blue’s victory over Kasparov signaled the transfer of chess power from humans to computers, the victory of centaurs over Hydra symbolized something more interesting still: humans empowered to do what they do best without the prerequisite of years of specialized pattern recognition.

At the reception given by Jinnah on 14 August 1947 when Asghar Khan and Lt Col (later Maj. Gen.) Akbar Khan met Jinnah, Khan told Jinnah that they were disappointed that the higher posts in the armed forces had been given to British officers who still controlled their destiny. According to Asghar Khan, ‘the Quaid who had been listening patiently raised his finger and said, “Never forget that you are the servants of the state. You do not make policy. It is we, the people’s representatives, who decide how the country is to be run. Your job is only to obey the decision of your civilian masters.”’4 Could any politician have the temerity to say this to the army chief today? The answer has to be a resounding no. Hence, democratic governance in Pakistan instead of being a tripod of the executive, legislature and judiciary looks more like a garden umbrella in which the army is the central pole around which the other organs of the state revolve. Consequently, civilian governments in Pakistan have neither defined national security objectives nor developed strategies to implement them.

By that time, Bezos and his executives had devoured and raptly discussed another book that would significantly affect the company’s strategy: The Innovator’s Dilemma, by Harvard professor Clayton Christensen. Christensen wrote that great companies fail not because they want to avoid disruptive change but because they are reluctant to embrace promising new markets that might undermine their traditional businesses and that do not appear to satisfy their short-term growth requirements. Sears, for example, failed to move from department stores to discount retailing; IBM couldn’t shift from mainframe to minicomputers. The companies that solved the innovator’s dilemma, Christensen wrote, succeeded when they “set up autonomous organizations charged with building new and independent businesses around the disruptive technology.”9 Drawing lessons directly from the book, Bezos unshackled Kessel from Amazon’s traditional media organization. “Your job is to kill your own business,” he told him. “I want you to proceed as if your goal is to put everyone selling physical books out of a job.” Bezos underscored the urgency of the effort. He believed that if Amazon didn’t lead the world into the age of digital reading, then Apple or Google would. When Kessel asked Bezos what his deadline was on developing the company’s first piece of hardware, an electronic reading

The symposium was a closed-doors, synod-style assembly of people who would never have mixed otherwise. My first surprise was to discover that the military people there thought, behaved, and acted like philosophers—far more so than the philosophers we will see splitting hairs in their weekly colloquium in Part Three. They thought out of the box, like traders, except much better and without fear of introspection. An assistant secretary of defence was among us, but had I not known his profession I would have thought he was a practitioner of skeptical empiricism. Even an engineering investigator who had examined the cause of a space shuttle explosion was thoughtful and open-minded. I came out of the meeting realising that only military people deal with randomness with genuine, introspective intellectual honesty—unlike academics and corporate executives using other people's money. This does not show in war movies, where they are usually portrayed as war-hungry autocrats. The people in front of me were not the people who initiate wars. Indeed, for many, the successful defence policy is the one that manages to eliminate potential dangers without war, such as the strategy of bankrupting the Russians through the escalation in defence spending. When I expressed my amazement to Laurence, another finance person who was sitting next to me, he told me that the military collected more genuine intellects and risk thinkers than most if not all other professions. Defence people wanted to understand the epistemology of risk.

Why, he asked, do all of our policing efforts have to be so reactive, so negative, and so after the fact? What if, instead of just focusing on catching criminals—and serving up ever harsher punishments—after they committed the crime, the police devoted significant resources and effort to eliminating criminal behavior before it happens? To quote Tony Blair, what if they could be tough on crime but also tough on the causes of crime?3 Out of these questions came the novel idea for Positive Tickets, a program whereby police, instead of focusing on catching young people perpetrating crimes, would focus on catching youth doing something good—something as simple as throwing litter away in a bin rather than on the ground, wearing a helmet while riding their bike, skateboarding in the designated area, or getting to school on time—and would give them a ticket for positive behavior. The ticket, of course, wouldn’t carry a fine like a parking ticket but instead would be redeemable for some kind of small reward, like free entry to the movies or to an event at a local youth center—wholesome activities that also had the bonus of keeping the young people off the streets and out of trouble. So how well did Richmond’s unconventional effort to reimagine policing work? Amazingly well, as it turned out. It took some time, but they invested in the approach as a long-term strategy, and after a decade the Positive Tickets system had reduced recidivism from 60 percent to 8 percent. You might not think of a police department as a place where you would expect to see Essentialism at work, but in fact Ward’s system of Positive Tickets is a lesson in the practice of effortless execution. The way of the Nonessentialist is to go big on everything: to try to do it all, have it all, fit it all in. The Nonessentialist operates under the false logic that the more he strives, the more he will achieve, but the reality is, the more we reach for the stars, the harder it is to get ourselves off the ground. The way of the Essentialist is different. Instead of trying to accomplish it all—and all at once—and flaring out, the Essentialist starts small and celebrates progress. Instead of going for the big, flashy wins that don’t really matter, the Essentialist pursues small and simple wins in areas that are essential.

Between 2003 and 2008, Iceland’s three main banks, Glitnir, Kaupthing and Landsbanki, borrowed over $140 billion, a figure equal to ten times the country’s GDP, dwarfing its central bank’s $2.5 billion reserves. A handful of entrepreneurs, egged on by their then government, embarked on an unprecedented international spending binge, buying everything from Danish department stores to West Ham Football Club, while a sizeable proportion of the rest of the adult population enthusiastically embraced the kind of cockamamie financial strategies usually only mooted in Nigerian spam emails – taking out loans in Japanese Yen, for example, or mortgaging their houses in Swiss francs. One minute the Icelanders were up to their waists in fish guts, the next they they were weighing up the options lists on their new Porsche Cayennes. The tales of un-Nordic excess are legion: Elton John was flown in to sing one song at a birthday party; private jets were booked like they were taxis; people thought nothing of spending £5,000 on bottles of single malt whisky, or £100,000 on hunting weekends in the English countryside. The chief executive of the London arm of Kaupthing hired the Natural History Museum for a party, with Tom Jones providing the entertainment, and, by all accounts, Reykjavik’s actual snow was augmented by a blizzard of the Colombian variety. The collapse of Lehman Brothers in late 2008 exposed Iceland’s debts which, at one point, were said to be around 850 per cent of GDP (compared with the US’s 350 per cent), and set off a chain reaction which resulted in the krona plummeting to almost half its value. By this stage Iceland’s banks were lending money to their own shareholders so that they could buy shares in . . . those very same Icelandic banks. I am no Paul Krugman, but even I can see that this was hardly a sustainable business model. The government didn’t have the money to cover its banks’ debts. It was forced to withdraw the krona from currency markets and accept loans totalling £4 billion from the IMF, and from other countries. Even the little Faroe Islands forked out £33 million, which must have been especially humiliating for the Icelanders. Interest rates peaked at 18 per cent. The stock market dropped 77 per cent; inflation hit 20 per cent; and the krona dropped 80 per cent. Depending who you listen to, the country’s total debt ended up somewhere between £13 billion and £63 billion, or, to put it another way, anything from £38,000 to £210,000 for each and every Icelander.

During his time working for the head of strategy at the bank in the early 1990s, Musk had been asked to take a look at the company’s third-world debt portfolio. This pool of money went by the depressing name of “less-developed country debt,” and Bank of Nova Scotia had billions of dollars of it. Countries throughout South America and elsewhere had defaulted in the years prior, forcing the bank to write down some of its debt value. Musk’s boss wanted him to dig into the bank’s holdings as a learning experiment and try to determine how much the debt was actually worth. While pursuing this project, Musk stumbled upon what seemed like an obvious business opportunity. The United States had tried to help reduce the debt burden of a number of developing countries through so-called Brady bonds, in which the U.S. government basically backstopped the debt of countries like Brazil and Argentina. Musk noticed an arbitrage play. “I calculated the backstop value, and it was something like fifty cents on the dollar, while the actual debt was trading at twenty-five cents,” Musk said. “This was like the biggest opportunity ever, and nobody seemed to realize it.” Musk tried to remain cool and calm as he rang Goldman Sachs, one of the main traders in this market, and probed around about what he had seen. He inquired as to how much Brazilian debt might be available at the 25-cents price. “The guy said, ‘How much do you want?’ and I came up with some ridiculous number like ten billion dollars,” Musk said. When the trader confirmed that was doable, Musk hung up the phone. “I was thinking that they had to be fucking crazy because you could double your money. Everything was backed by Uncle Sam. It was a no-brainer.” Musk had spent the summer earning about fourteen dollars an hour and getting chewed out for using the executive coffee machine, among other status infractions, and figured his moment to shine and make a big bonus had arrived. He sprinted up to his boss’s office and pitched the opportunity of a lifetime. “You can make billions of dollars for free,” he said. His boss told Musk to write up a report, which soon got passed up to the bank’s CEO, who promptly rejected the proposal, saying the bank had been burned on Brazilian and Argentinian debt before and didn’t want to mess with it again. “I tried to tell them that’s not the point,” Musk said. “The point is that it’s fucking backed by Uncle Sam. It doesn’t matter what the South Americans do. You cannot lose unless you think the U.S. Treasury is going to default. But they still didn’t do it, and I was stunned. Later in life, as I competed against the banks, I would think back to this moment, and it gave me confidence. All the bankers did was copy what everyone else did. If everyone else ran off a bloody cliff, they’d run right off a cliff with them. If there was a giant pile of gold sitting in the middle of the room and nobody was picking it up, they wouldn’t pick it up, either.” In