Book cover of Cracked it!  by Olivier Sibony & Corey Phelps & Bernard Garrette — critical summary review on 12min

Cracked it!

Olivier Sibony, Corey Phelps & Bernard Garrette

8 mins

Being successful in business means being successful at problem-solving. However, things are not that simple - even experienced managers and executives at famous corporations, such as Dell and A&M Records, sometimes fail to solve problems effectively because they don’t follow a tested problem-solving method but rely on unquestioned assumptions and quickly jump to conclusions. In ‘’Cracked it!’’ you will learn how their mistakes could have been avoided and how to solve any problem you face - both in a business setting and in life.

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Who it is for

Best suited for business school students, executives, managers, and anyone who wants to become better at solving problems.

Key Insights

The Danger of Assumptions

One of the key insights from 'Cracked it!' is the significant risk posed by relying on unquestioned assumptions in problem-solving. The book highlights how even seasoned managers and executives can fall into the trap of making decisions based on preconceived notions rather than empirical evidence or thorough analysis. This often leads to ineffective solutions that fail to address the core of the problem. By identifying and challenging these assumptions, individuals and organizations can avoid common pitfalls and develop more robust strategies for success.

The Importance of a Structured Method

'Cracked it!' emphasizes the necessity of a structured problem-solving method to ensure effective decision-making. The book outlines how a systematic approach helps in breaking down complex issues into manageable parts, allowing for a clearer understanding and more accurate identification of the root cause. This methodical process prevents hasty conclusions and encourages a more comprehensive evaluation of potential solutions. By adhering to a tested framework, business leaders can improve their problem-solving capabilities and achieve better outcomes.

Learning from High-Profile Failures

The book uses case studies from well-known corporations like Dell and A&M Records to illustrate how even top-tier companies can stumble due to ineffective problem-solving strategies. These examples serve as powerful lessons in the importance of rigorous analysis and strategic thinking. By examining these failures, readers can gain insights into what went wrong and how different approaches could have led to more successful resolutions. This reflective learning process is crucial for both personal and organizational growth, reinforcing the idea that understanding past mistakes paves the way for future success.

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About the Author

Olivier Sibony teaches problem-solving and strategic decision-making at HEC Paris. He spent 25 years at McKinsey & Company advising the leaders of global corporations. He has published ‘’Cracked It!’’ and ‘’Noise.’’

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Lessons

  • How Apple managed to limit online music piracy
  • Why you shouldn’t solve problems like Othello did
  • What the 4S Method is

Key Takeaways

  • Always question assumptions: Avoid relying on unquestioned assumptions when addressing problems. Instead, critically evaluate the situation to identify hidden biases or preconceived notions that might cloud judgment.
  • Follow a structured problem-solving method: Implement a tested and systematic approach to problem-solving to increase the likelihood of finding effective solutions. This prevents hasty conclusions and ensures a thorough analysis of the issue.
  • Learn from others' mistakes: Study real-world examples of problem-solving failures, such as those from companies like Dell and A&M Records, to understand common pitfalls and how they could have been avoided, thus improving your problem-solving skills.

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