by Michael Moesgaard Andersen. Many companies featured as exemplars in the how-to strategy literature end up struggling a few years later. Something in the environment changes, and what worked before no longer works. Following what these exemplars have done, the authors conclude, is a recipe for failure. Andersen, Froholdt, and Poulfelt (all, Copenhagen Business School, Denmark) argue that what is missing is the "X-Factor," something that is not captured in existing strategy books. Their book succeeds in diagnosing issues in strategic management, but it struggles at providing a better solution. Like the classic Blue Ocean Strategy (2005), this volume stresses the importance of innovation as a source of success. It differs by stressing the importance of innovation not just in a firm's products, but also in how it organizes and operates. The authors identify six elements around which firms should consider thinking differently about their strategy, but they provide limited guidance. They struggle in identifying what the X-factor specifically is, but are much better at explaining what it is not. At its best, the book provides an excellent review of the strategy literature and features many fresh company exemplars such as Huawei and Saxo Bank. --Choice
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