This concise guide to strategy offers an excellent basic introduction to business strategy. David Dranove and Sonia Marciano not only outline their own benefits-minus-cost ("B - C") approach to strategy; they also usefully summarize the essentials of other widely accepted approaches, most notably that of Harvard Business School professor Michael E. Porter. They write lucidly, avoid academic jargon and stay focused on the essentials without burdening the reader with unnecessary detail. They illustrate their discussion with examples drawn from actual business successes and failures, and two case studies, one from the airline industry and the other from the health-care industry. getAbstract recommends this book to beginning managers looking for a strategy primer. Experienced strategists can turn to it for a refresher course in fundamental business truths.
In this summary, you will learn
- Which two "principal questions" to ask about any business strategy;
- How and why to calculate benefits-minus-cost, or "B - C";
- How to audit your company's resources; and
- How to minimize competition from new market entrants.
About the Authors
David Dranove is a professor at the Kellogg Graduate School of Management. Sonia Marciano teaches at Harvard Business School.