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Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.

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
Risk
Scenario
Wrong
Poorly
Scenarios
Occurs
Perform
Strategy
Management
Function

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In the vast majority of businesses, there is simply no such thing as “the best.”
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Innovation is the central issue in economic prosperity.
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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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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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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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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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A target should go with every goal. A target is the value that defines success.
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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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Strategic thinking rarely occurs spontaneously
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Without a goal analytics is aimless and worthless.
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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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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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Finally, strategy must have continuity. It can't be constantly reinvented.
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There's a fundamental distinction between strategy and operational effectiveness.
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Strategy is choice. Strategy means saying no to certain kinds of things.
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Operational effectiveness and strategy are both essential to superior performance.
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Strategy is about making choices, trade-offs it's about deliberately choosing to be different.
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