In the vast majority of businesses, there is simply no such thing as “the best.”
MICHAEL PORTERThe chief strategist of an organization has to be the leader – the CEO.
More Michael Porter Quotes
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If a strategy meets a goal: It’s working. If a strategy meets a target: It’s a success.
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If all you’re trying to do is essentially the same thing as your rivals, then it’s unlikely that you’ll be very successful.
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The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they’re mutually reinforcing.
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Health care historically has been a very siloed field that’s organized around medical specialties – urology, cardiac surgery, and so forth – and around the supply of these specialty services. The patient is the ping-pong ball that moves from service to service.
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The U.S. is facing a structural competitiveness problem that is leading to the weakest economy we have seen in generations.
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The company without a strategy is willing to try anything.
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I teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it’s the best perch… because most of my work crosses boundaries.
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A target should go with every goal. A target is the value that defines success.
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Sound strategy starts with having the right goal
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Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.
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Efforts to preserve all industries will lower the national standard of living.
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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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The essence of strategy is that you must set limits on what you’re trying to accomplish.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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If your goal is anything but profitability – if it’s to be big, or to grow fast, or to become a technology leader – you’ll hit problems.
MICHAEL PORTER