This book is part of the curriculum of the 2005 Creative Good Fellows program that I'm taking part in. It outlines a holistic method to develop a business model for one's business: the external forces, internal capabilities, and financial targets all work in conjunction with each other to paint a picture of a business' health and growth oppotunities.

The first half of the book describes how to use this model to "confront reality" and look at your business how it actually is, instead of how you want it to be. The emphasis on seeking out reasons for change and reacting to the root causes (instead of reacting simply to the change) make intuitive sense to me. A long-term outlook balanced with fulfilling short-term objectives is a party line often preached but not followed in corporate America.

The second half of the book describes case studies of heroic CEOs who used Charan and Bossidy's model to right companies (in industries where fundamental structural change has occurred) or to ride out cyclical changes and position their companies for future growth.

It's an easy read and there are some very good ideas in here (specifically: the notions that seeking out diversity of perspectives, focusing on the consumer's needs, and keeping an eye on the reasons "why" industry change occurs are healthy for a business), and makes me want to check out Charan and Bossidy's better-known book, Execution.