Luck. Anyone who plays a role in strategy will find much of interest in Michael Raynor’s book, The Strategy Paradox. The paradox he explores in this book is described by the subtitle: the same strategy that can lead to tremendous success can also lead to colossal failure. Luck plays a huge role in how perfectly reasonable strategic choices turn out. You have to commit to a certain future to get something done, A big bet on achieving a planned outcome can be a high risk dice roll that leads to failure. Raynor proposes a balanced approach to strategy. The management of uncertainty requires an attention and a vigilance that can seem at odds with a specific commitment of resources to achieve a desired outcome. The risk reward tradeoffs can change rapidly, and falling in love with one approach can lead to disaster. An executive reader will come away from The Strategy Paradox with useful ideas and challenges especially on who within an organization should be doing what when it comes to strategy and the management of uncertainty.
Rating: Three-star (Recommended)