Quote

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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Michael Porter
Age: 77
Born: 1947
Born: May 23
Aerospace Engineer
Economist
Mechanical Engineer
Professor
Ann Arbor
Michigan
Michael Eugene Porter
Anything
Grow
Leader
Technology
Grows
Goal
Bigs
Profitability
Become
Fast
Problem
Problems

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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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The best CEOs I know are teachers, and at the core of what they teach is strategy.
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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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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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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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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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Strategic thinking rarely occurs spontaneously
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The company without a strategy is willing to try anything.
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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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Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.
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Without a goal analytics is aimless and worthless.
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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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Innovation is the central issue in economic prosperity.
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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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There's a fundamental distinction between strategy and operational effectiveness.
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Operational effectiveness and strategy are both essential to superior performance.
Michael Porter