The Strategy Paradox
The Strategy Paradox explains how leaders can achieve results historically reserved for the fortunate few even as they reduce the risks they must accept in the pursuit of success. In the cutthroat world of competitive strategy, this is as close as you can come to getting something for nothing. With detailed case studies of success and failure of major companies in industries from financial services to energy, The Strategy Paradox presents a concrete framework for strategic action that allows companies to seize today’s opportunities while simultaneously preparing for tomorrow’s promise.
Praise for The Strategy Paradox
"One of the most important, realistic, and useful books on strategy ever written. With consummate clarity and withering logic, Raynor confronts and resolves the paradox that while strategy requires commitment, much about the future is simply unknowable. It is an absolutely brilliant, lucidly written piece of scholarship."
— Clayton M. Christensen, Professor, Harvard Business School and author of the bestselling The Innovator's Dilemma and The Innovator's Solution
"Raynor has taken the next giant leap forward in strategy. He demonstrates that much of what we know about creating value is true but woefully incomplete. By widening our focus from simply the pursuit of success to include ever-present uncertainty, Raynor does more than simply alert us to the long-ignored risk/return tradeoff—he shows us how to break it."
— Jim Balsillie, co-CEO, Research in Motion
"The best lesson in corporate strategy I have ever read. Raynor has it right: clearly and convincingly, he shows us why facing up to uncertainty is essential for sustainable success, and then he provides the tools and methods to achieve it."
— Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk
"The Strategy Paradox is a most extraordinary business book: impeccably researched and argued, brutally honest and devoid of 'silver bullet' solutions to today's complex strategic problems. It has profound implications for business strategy research, teaching, and practice and should be read by anyone interested in why some strategies succeed while other equally-thoughtful strategies fail."
— Hugh Courtney, Distinguished Tyser Teaching Fellow, University of Maryland
"A rare and extremely valuable gem. Raynor provides managers a sophisticated, accessible, and highly usable approach weaving time, choice, uncertainty, and risk into a rich treasury of insights"
— Andy Boynton, Dean, The Wallace E. Carroll School of Management, Boston College
"A very timely book that penetrates to the core of strategy, namely how to balance commitment and flexibility in a world of increasing uncertainty. Michael Raynor is a gifted writer and thinker about business, bringing fresh examples and lucid insights to deeply challenging issues facing today's executives."
— Paul J. H. Schoemaker, Adjunct Professor, Wharton Business School
"Insightful, timely, and relevant to the choices and commitments our company is contemplating. The ability to take bold action with urgency, while maintaining strategic flexibility, has never been more important."
— Dan Hesse, Chairman and CEO, Embarq Corporation
"Raynor's book is insightful in identifying the very real constraints to sustained business growth. Strategy Paradox offers an architectural plan to effect transformational growth in a risk-averse climate."
— Dave Holveck, Vice President, Corporate Development, president, Johnson & Johnson Development Corporation
"If Stephen Jay Gould had written a business book, this would be it. Raynor provides the most logical, detailed, and enlightening explanation for why some products succeeded and some products failed. Read this book to learn how to deal with uncertainty before you suffer the same fate as dinosaurs."
— Guy Kawasaki, Managing Director, Garage Technology Ventures and author, The Art of the StArt