The Economist: Business Strategy 3rd edition: A guide to effective decision-making (Hardback)

The effectiveness of a good strategy well implemented determines a business's future success or failure. Yet history is full of strategic decisions, big and small, that were ill-conceived, poorly organised and consequently disastrous. This book, supported by case studies, looks at the whole process of strategic decision-making - including forecasting, resource allocation, decision-making and other aspects of leadership. Strategy is about understanding where you are now, where you are heading and how you will get there. There is no room for timidity or confusion at any level of the company. Although the CEO and the board decide a company's overall direction, it is the managers at all levels of the organisation that will determine how the vision can be transformed into action. In short, everyone is involved in strategy. But getting it right involves difficult choices: which customers to target, what products to offer and the best way to keep costs low and service high. Moreover, constantly changing business conditions inevitably bring risks, so that even after business strategy has been developed, a company must remain nimble and alert to change. Strategy is an on-going process; getting it right will bring great commercial reward.