Finally, strategy must have continuity. It can’t be constantly reinvented.
MICHAEL PORTERYou can’t be all things to all people.
More Michael Porter Quotes
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There’s a fundamental distinction between strategy and operational effectiveness.
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Companies operating in urban communities have a tremendous ripple effect.
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The company without a strategy is willing to try anything.
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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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The chief strategist of an organization has to be the leader – the CEO.
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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.
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Strategy is choice. Strategy means saying no to certain kinds of things.
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The essence of strategy is choosing what not to do.
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Change brings opportunities. On the other hand, change can be confusing.
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Sound strategy starts with having the right goal
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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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Strategic thinking rarely occurs spontaneously.
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You can’t be all things to all people.
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The best CEOs I know are teachers, and at the core of what they teach is strategy.
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A strategy delineates a territory in which a company seeks to be unique.
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In the vast majority of businesses, there is simply no such thing as “the best.”
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The purpose of the corporation must be redefined as creating shared value, not just profit per se. This will drive the next wave of innovation and productivity growth in the global economy.
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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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Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.
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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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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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Operational effectiveness and strategy are both essential to superior performance.
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Strategy is about setting yourself apart from the competition. It’s not a matter of being better at what you do – it’s a matter of being different at what you do.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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The ability to change constantly and effectively is made easier by high-level continuity.
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