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Lords of Strategy Kiechel

An intellectual history of the corporate strategy revolution, chronicling the pioneering consultants and academics who invented the concepts and frameworks that define modern business competition.

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What it’s about

Before the 1960s, 'corporate strategy' as we know it didn't exist. 'Lords of Strategy' tells the riveting story of how a small group of iconoclastic thinkers, primarily from fledgling consulting firms like the Boston Consulting Group, McKinsey & Company, and Bain & Company, launched a revolution that transformed the business world. Through vivid biographical sketches of figures like the brilliant and difficult Bruce Henderson and the academically rigorous Michael Porter, the book traces the birth and evolution of foundational ideas like the experience curve, the growth-share matrix, and the five forces. It reveals how these analytical tools gave executives a new language and framework to understand their costs, customers, and competitors, leading to an 'intellectualization' and 'fiercening' of capitalism. This is not just a history of ideas, but a narrative of how those ideas were forged in the crucible of corporate challenges and how they continue to shape the global economy today.

The through-line

Who it’s for
A business leader, manager, consultant, or student who operates in a fiercely competitive world and wants to master the foundational principles of strategy to make better decisions and lead their organization to victory.
The problem
The business landscape is dominated by strategic concepts, frameworks, and jargon (like 'experience curve,' 'five forces,' 'core competencies') that are often used without a deep understanding of their origins, assumptions, or limitations, making it difficult to formulate and execute a winning strategy. They feel uncertain and anxious about their ability to think strategically, fearing they will be outmaneuvered by savvier competitors and fail to lead their company to its full potential.
The plan
  1. Discover the origins of the strategy revolution with the story of Bruce Henderson and the Boston Consulting Group.
  2. Master the foundational analytical tools, such as the experience curve and the growth-share matrix, by learning how and why they were created.
  3. Understand the competitive and intellectual responses from rivals like Bain & Company, McKinsey, and the academic world, particularly Michael Porter.
  4. Trace the evolution of strategy through its major phases: positioning, processes, and people.
  5. Grasp the profound impact strategy has had on making capitalism more intellectual, competitive, and 'fierce'.
The payoff
Gain a deep and enduring understanding of the core principles of corporate strategy. · Wield strategic concepts with confidence and precision, cutting through the jargon and fads. · Become a more effective leader, capable of shaping your company's destiny in a competitive world.

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Additional reading

  • The Rise and Fall of Strategic Planning · Henry Mintzberg

    A magisterial critique of the formal, top-down strategic planning process, arguing instead that strategy often emerges from learning and adaptation.

  • The Metaphysical Club · Louis Menand

    Cited by the author as an inspiration for its approach to intellectual history, showing how ideas are social tools developed by groups to cope with their environment, a perspective applied to the strategists in this book.

  • Strategy and Structure · Alfred D. Chandler Jr.

    A foundational historical work describing how the organizational structure of large American corporations like GM and DuPont evolved to follow their strategy.

  • In Search of Excellence · Tom Peters and Bob Waterman

    The blockbuster book that challenged the purely analytical view of strategy by emphasizing the importance of people, culture, and organizational values, launching the 'excellence' movement.

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