There are plenty of books about business strategy, but not many that focus on identifying and implementing strategies for renewal in the mature phase of the lifecycle of a business, according to Leo Hopf and William Welter in their book Rethink Reinvent Reposition: 12 Strategies to Renew Your Business and Boost Your Bottom Line. “Rethinking” involves contemplating changing the current business model; “Reinventing” involves creating a new business model; and “Repositioning” involves transitioning from the old model to the new one.
The book describes the authors’ twelve strategies for organisational renewal, and then goes on to give advice on developing a short list of renewal candidates, obtaining commitment to the renewal process, structuring the reinvention phase, choosing the best renewal alternative, making the transition to the new business model, avoiding traps along the way, and building renewal capabilities into future leaders.
Much of the advice which the book gives and many of the strategies proposed will already be quite familiar to those who have read other business strategy books. Perhaps the authors’ particular combination of strategies is unique, but the real strength of the book lies in the clarity and simplicity with which the strategic process is described, rather than in the novelty of the ideas proposed. I would recommend this book to anyone whose organisation needs a strategic boost to counter declining levels of success.