Sound strategy starts with having the right goal
MICHAEL PORTERA target should go with every goal. A target is the value that defines success.
More Michael Porter Quotes
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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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You can’t be all things to all people.
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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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Good leaders need a positive agenda, not just an agenda of dealing with crisis.
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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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A target should go with every goal. A target is the value that defines 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 company without a strategy is willing to try anything.
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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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Strategy is choice. Strategy means saying no to certain kinds of things.
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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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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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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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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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