Playing to Win

This “playbook for winning” by A.G. Lafley, legendary former CEO of Procter & Gamble (now P&G), and Roger L. Martin, former dean of the Rotman School of Management, explains that strategy demands making tough choices in the business world’s stressful, volatile environment. Their tone is businesslike and direct. They don’t waste time complimenting themselves, and it’s hard to argue with their experience.

When Lafley joined P&G in 1977, he discovered decision-making drift that led to unsuccessful choices. In 1986, after P&G’s “first major restructuring and write-off,” it called in strategic help, including guru Michael Porter. Lafley welcomed the famous consultant, but the results didn’t change P&G’s culture. The firm reverted to haphazard acquisitions and flawed products. By 2000, when Lafley first became CEO, P&G was in trouble. He believed only rigorous, superior strategy could help.