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Innovation is the central issue in economic prosperity.

Michael Porter

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Michael Porter
Age: 77
Born: 1947
Born: May 23
Aerospace Engineer
Economist
Mechanical Engineer
Professor
Ann Arbor
Michigan
Michael Eugene Porter
Issues
Innovative
Economic
Central
Innovation
Prosperity
Issue
Creativity
Growth
Wealth

More quotes by Michael Porter

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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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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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The best CEOs I know are teachers, and at the core of what they teach is strategy.
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The company without a strategy is willing to try anything.
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Strategy is about making choices, trade-offs it's about deliberately choosing to be different.
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Competitiveness is defined as the ability of companies to compete while maintaining or improving the average standard of living. If you are cutting wages to become more competitive, that's not really more competitive. It's raising the skill and the efficiency of those workers so that they can support and sustain that higher wage.
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Strategic thinking rarely occurs spontaneously
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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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Without a goal analytics is aimless and worthless.
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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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Finally, strategy must have continuity. It can't be constantly reinvented.
Michael Porter
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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 choice. Strategy means saying no to certain kinds of things.
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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.
Michael Porter
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Operational effectiveness and strategy are both essential to superior performance.
Michael Porter
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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.
Michael Porter
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Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.
Michael Porter