The U.S. is facing a structural competitiveness problem that is leading to the weakest economy we have seen in generations.
MICHAEL PORTERThe ability to change constantly and effectively is made easier by high-level continuity.
More Michael Porter Quotes
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The chief strategist of an organization has to be the leader – the CEO.
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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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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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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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Without a goal analytics is aimless and worthless.
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Sound strategy starts with having the right goal
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The company without a strategy is willing to try anything.
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Finally, strategy must have continuity. It can’t be constantly reinvented.
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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 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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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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Technology has given us this wonderful opportunity to have low energy costs. We have to seize that, rather than keep debating and discussing and fighting over it.
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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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The underlying principles of strategy are enduring, regardless of technology or the pace of change.
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The essence of strategy is choosing what not to do.
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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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A target should go with every goal. A target is the value that defines success.
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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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Innovation is the central issue in economic prosperity.
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In the vast majority of businesses, there is simply no such thing as “the best.”
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Change brings opportunities. On the other hand, change can be confusing.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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Strategic thinking rarely occurs spontaneously.
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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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Good leaders need a positive agenda, not just an agenda of dealing with crisis.
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