The book discusses the misconceptions that managers fall prey to when answering the question of what drives business performance.

These misconceptions are described in a number of best-selling international management books, such as In Search of Excellence, Built to Last and From Good to Great. Here, the reader is led to fall into fallacies because the arguments appear to be rational, evidence-based (extensive studies) and conducted by reputable organizations.

The great disconnect
The book starts with a classic quote from American baseball legend Yogi Berra:

“In theory there is no difference between theory and practice. In practise there is.”

Anyone who has invested in the stock market will know that this is a very true statement. A strategy that seems completely obvious on paper can turn out to be the opposite in practice. The reason for the difference between theory and practice is multifaceted and unfolds in a number of Marshall’s experiences. You’ll find my favorites below.