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.
MICHAEL PORTERBillions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.
More Michael Porter Quotes
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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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Strategy is choice. Strategy means saying no to certain kinds of things.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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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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Finally, strategy must have continuity. It can’t be constantly reinvented.
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A strategy delineates a territory in which a company seeks to be unique.
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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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Change brings opportunities. On the other hand, change can be confusing.
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There’s a fundamental distinction between strategy and operational effectiveness.
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In the vast majority of businesses, there is simply no such thing as “the best.”
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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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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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Operational effectiveness and strategy are both essential to superior performance.
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The essence of strategy is choosing what not to do.
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You can’t be all things to all people.
MICHAEL PORTER