Chris Zook - Good Strategy's Non-Negotiables
Great HBR podcast with Bain & Co’s Chris Zook, on the non-negotiables of good strategy. He lays out three keys for repeatable growth:
- Differentiation - Decide on your clear point of differentiation.
- Principles - Distill that differentation into simple principles that will promulgate throughout the organization.
- Learning Process - Set up feedback loops to continuously improve application of the principles. For example, Enterprise Rent-A-Car uses ESQi, a customer satisfaction metric, to rank all 8,000 branches on a weekly basis. Top performers are rewarded, the bottom branches lose promotions and wage increases till they improve.
How does your company succeed at these? Check out the podcast here.