In this episode, we hear from Richard Rumelt. Richard has been called, “A giant in the field of strategy.” He is the Harry and Elsa Kunin Chair Emeritus at the UCLA Anderson School of Management and a founding member and former president of the Strategic Management Society.



He is also the author of Good Strategy/Bad Strategy: The Difference and Why it Matters, and in this episode he’ll explain how to circumvent what he calls, “the contagion of bad strategy.” His reflections are based on his latest book, The Crux: How Leaders Become Strategists.



Richard is joined by our communications director, Sean Brown, and Yuval Atsmon, a senior partner based in our London office. 



Learn more about Richard’s book:
 https://thecruxbook.com/ 



Join our LinkedIn community: 
https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance 



Explore more Inside the Strategy Room podcast episode transcripts:
 https://www.mckinsey.com/itsr 

In this episode, we hear from Richard Rumelt. Richard has been called, “A giant in the field of strategy.” He is the Harry and Elsa Kunin Chair Emeritus at the UCLA Anderson School of Management and a founding member and former president of the Strategic Management Society.

He is also the author of Good Strategy/Bad Strategy: The Difference and Why it Matters, and in this episode he’ll explain how to circumvent what he calls, “the contagion of bad strategy.” His reflections are based on his latest book, The Crux: How Leaders Become Strategists.

Richard is joined by our communications director, Sean Brown, and Yuval Atsmon, a senior partner based in our London office. 

Learn more about Richard’s book: https://thecruxbook.com/ 

Join our LinkedIn community: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance 

Explore more Inside the Strategy Room podcast episode transcripts: https://www.mckinsey.com/itsr

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;

Good strategy is more than achieving certain results. But why do so many get it wrong?

134. Richard Rumelt on what separates good strategy from bad

As organizations increasingly employ agentic AI, they face new risks that could disrupt operations, compromise sensitive data, or erode customer trust. Rich Isenberg and Charlie Lewis join us to discuss these emerging risks and how leaders can proactively ensure secure and compliant adoption.

Rich Isenberg is a partner in our Atlanta office and a leader within our Risk and Resilience and Cybersecurity Practices. Charlie Lewis is a partner in our Connecticut office and leads our cybersecurity and tech resilience work across North America and Europe. Together, they offer a frontline perspective on how organizations are implementing agentic AI, the emerging forms of cyber and operational risk, and the critical steps leaders must take to build robust governance and resilience.

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Deploying agentic AI with safety and security: A playbook for technology leaders

The change agent: Goals, decisions, and implications for CEOs in the agentic age

Seizing the agentic AI advantage

McKinsey Risk & Resilience on LinkedIn

McKinsey Risk & Resilience: Our latest insights

As organizations increasingly employ agentic AI, they face new risks that could disrupt operations, compromise sensitive data, or erode customer trust. Rich Isenberg and Charlie Lewis join us to discuss these emerging risks and how leaders can proactively ensure secure and compliant adoption.
<a href="https://www.mckinsey.com/our-people/rich-isenberg">Rich Isenberg </a>is a partner in our Atlanta office and a leader within our Risk and Resilience and Cybersecurity Practices.<a href="https://www.mckinsey.com/our-people/charlie-lewis"> Charlie Lewis</a> is a partner in our Connecticut office and leads our cybersecurity and tech resilience work across North America and Europe. Together, they offer a frontline perspective on how organizations are implementing agentic AI, the emerging forms of cyber and operational risk, and the critical steps leaders must take to build robust governance and resilience.
Related Insights
<a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/deploying-agentic-ai-with-safety-and-security-a-playbook-for-technology-leaders">Deploying agentic AI with safety and security: A playbook for technology leaders</a>
<a href="https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-change-agent-goals-decisions-and-implications-for-ceos-in-the-agentic-age">The change agent: Goals, decisions, and implications for CEOs in the agentic age</a>
<a href="https://www.mckinsey.com/capabilities/quantumblack/our-insights/seizing-the-agentic-ai-advantage">Seizing the agentic AI advantage</a> <a href="https://www.linkedin.com/showcase/mckinsey-risk-resilience/">McKinsey Risk &amp; Resilience on LinkedIn</a> <a href="https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights">McKinsey Risk &amp; Resilience: Our latest insights</a>

288. Securing agentic AI: A playbook 

Arvind Krishna, the Chairman, President, and Chief Executive Officer of IBM, stepped into the CEO role at IBM in 2020, following 30 years at the company. Prior to that, he held various senior positions, spanning VP of Cloud and Cognitive Software to Head of Research, where he drove innovation in core technologies – including artificial intelligence, quantum computing, and cloud platform services. In today’s episode, Arvind joins our North America Chair and senior partner Eric Kutcher to discuss how he led IBM to triple its share price in just five years, the current AI landscape, how to pursue opportunities from volatility, the potential of quantum computing, what it takes to drive growth through innovation, and the dangers of being too risk-averse.

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CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest 

A CEO for All Seasons: Mastering the cycles of leadership

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Delta Air Lines CEO Ed Bastian: Lessons from the captain’s seat 

Doug Parker, former chairman and CEO of American Airlines, shares leadership lessons

John Stankey talks about leaning into the long term at AT&T

Arvind Krishna, the Chairman, President, and Chief Executive Officer of IBM, stepped into the CEO role at IBM in 2020, following 30 years at the company. Prior to that, he held various senior positions, spanning VP of Cloud and Cognitive Software to Head of Research, where he drove innovation in core technologies &ndash; including artificial intelligence, quantum computing, and cloud platform services. In today&rsquo;s episode, Arvind joins our North America Chair and senior partner Eric Kutcher to discuss how he led IBM to triple its share price in just five years, the current AI landscape, how to pursue opportunities from volatility, the potential of quantum computing, what it takes to drive growth through innovation, and the dangers of being too risk-averse.
Related insights
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-excellence">CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest&nbsp;</a>
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-for-all-seasons">A CEO for All Seasons: Mastering the cycles of leadership</a>
<a href="https://www.linkedin.com/newsletters/the-strategic-ceo-7236955032997216256/">The Strategic CEO newsletter</a>
<a href="https://omny.fm/shows/inside-the-strategy-room/273-delta-air-lines-ceo-ed-bastian-lessons-from-the-captain-s-seat">Delta Air Lines CEO Ed Bastian: Lessons from the captain&rsquo;s seat&nbsp;</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/doug-parker-former-chairman-and-ceo-of-american-airlines-shares-leadership-lessons">Doug Parker, former chairman and CEO of American Airlines, shares leadership lessons</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/john-stankey-talks-about-leaning-into-the-long-term-at-at-and-t">John Stankey talks about leaning into the long term at AT&amp;T</a>

287. IBM Chairman, President, and CEO Arvind Krishna on setting bold ambition and driving growth through innovation 

Health insurers are facing urgent challenges related to affordability, access, and how to safely and effectively leverage AI and emerging technologies. In this episode, McKinsey senior partner Celia Huber is joined by Brian Evanko, president and chief operating officer of The Cigna Group. In this role, Brian oversees all of the company's business units, including its two growth platforms: Cigna Healthcare, a health benefits business, and Evernorth, a health services business. Together, these business units serve customers in more than 30 countries.

From here, Brian has a unique view of the challenges facing the industry and the people it serves—including the fact that the vast amount of US healthcare spending goes toward chronic care. In their conversation, Brian shares his perspective on the innovation needed, such as through the adoption of AI, to improve affordability and support prevention.

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Future of US healthcare: Gathering storm 2.0 or a golden age?

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Health insurers are facing urgent challenges related to affordability, access, and how to safely and effectively leverage AI and emerging technologies. In this episode, McKinsey senior partner <a href="https://www.mckinsey.com/our-people/celia-huber">Celia Huber</a> is joined by <a href="https://www.linkedin.com/in/brian-c-evanko-463b5ab">Brian Evanko</a>, president and chief operating officer of <a href="https://www.thecignagroup.com/">The Cigna Group</a>. In this role, Brian oversees all of the company's business units, including its two growth platforms: Cigna Healthcare, a health benefits business, and Evernorth, a health services business. Together, these business units serve customers in more than 30 countries.
From here, Brian has a unique view of the challenges facing the industry and the people it serves&mdash;including the fact that the vast amount of US healthcare spending goes toward chronic care. In their conversation, Brian shares his perspective on the innovation needed, such as through the adoption of AI, to improve affordability and support prevention.
Related Insights
<a href="https://www.mckinsey.com/industries/healthcare/our-insights/future-of-us-healthcare-gathering-storm-2-point-0-or-a-golden-age">Future of US healthcare: Gathering storm 2.0 or a golden age?</a>
<a href="https://www.mckinsey.com/industries/healthcare/our-insights/tackling-healthcares-biggest-burdens-with-generative-ai">Tackling healthcare&rsquo;s biggest burdens with generative AI</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-race-to-create-a-vaccine-a-conversation-with-frank-damelio">The race to create a vaccine: A conversation with Frank D&rsquo;Amelio</a>

134. Richard Rumelt on what separates good strategy from bad

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