Innovation is the central issue in economic prosperity.
MICHAEL PORTEREfforts to preserve all industries will lower the national standard of living.
More Michael Porter Quotes
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Finally, strategy must have continuity. It can’t be constantly reinvented.
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The underlying principles of strategy are enduring, regardless of technology or the pace of change.
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There’s a fundamental distinction between strategy and operational effectiveness.
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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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You can’t be all things to all people.
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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 essence of strategy is that you must set limits on what you’re trying to accomplish.
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Change brings opportunities. On the other hand, change can be confusing.
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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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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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The chief strategist of an organization has to be the leader – the CEO.
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Efforts to preserve all industries will lower the national standard of living.
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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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Companies operating in urban communities have a tremendous ripple effect.
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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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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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Strategy is choice. Strategy means saying no to certain kinds of things.
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The company without a strategy is willing to try anything.
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The essence of strategy is choosing what not to do.
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Without a goal analytics is aimless and worthless.
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Operational effectiveness and strategy are both essential to superior performance.
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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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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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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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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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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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