Quote

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
Function
Risk
Scenario
Wrong
Poorly
Scenarios
Occurs
Perform
Strategy
Management

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The company without a strategy is willing to try anything.
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Strategy is choice. Strategy means saying no to certain kinds of things.
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Strategic thinking rarely occurs spontaneously
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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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The essence of strategy is choosing what not to do.
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Finally, strategy must have continuity. It can't be constantly reinvented.
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Without a goal analytics is aimless and worthless.
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A target should go with every goal. A target is the value that defines success.
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Good leaders need a positive agenda, not just an agenda of dealing with crisis.
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There's a fundamental distinction between strategy and operational effectiveness.
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Change brings opportunities. On the other hand, change can be confusing.
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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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Operational effectiveness and strategy are both essential to superior performance.
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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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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 best CEOs I know are teachers, and at the core of what they teach is strategy.
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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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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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Strategy is about making choices, trade-offs it's about deliberately choosing to be different.
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