Summary of Richard P. Rumelt's The Crux

Download or read book Summary of Richard P. Rumelt's The Crux written by Everest Media, and published by Everest Media LLC. This book was released on 2022-05-21T22:59:00Z with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 A strategy is a mixture of policy and action designed to surmount a high-stakes challenge. It is not a goal or wished-for end state. It is a form of problem solving, and you cannot solve a problem you do not understand or comprehend. #2 The great missing piece in the foundation of almost all writings and teachings about strategy is a weakness well captured more than a decade ago by strategy authority Gary Hamel: Of course, everyone knows a strategy once they see one—be it Microsoft’s, Nucor’s, or Virgin Atlantic’s. #3 The key steps in dealing with a strategic challenge are a diagnosis of the situation, finding the crux, and then creating reasonable action responses. To take a closer look at these steps, I am going to look at the situation Netflix faced in early 2018. #4 In 2011, Netflix faced a significant upset. It had been paying $30 million per year to Starz for access to its shows. At contract renewal, Starz asked for an increase to $300 million per year. Netflix had to raise subscription fees by 60 percent.