What is Strategy – Michael Porter
“A company can only outperform if it can establish a [marketplace] difference it can preserve”
Competitive strategy is simple – its about being different – in right ways.
“Strategic positions should have a horizon of a decade or more, and not of a single planning cycle”
Leadership [management] must have the expertise to scope opportunities accurately, and then follow with choices that obtain good benefits.
Reconnecting with Strategy:
- What products and services in our business are most distinctive?
- What products and services in our business are most profitable?
- Which of our customers are most satisfied?
- What activities in our value chain are most unique [provide a competitive edge]?
If you forget everything else you read here: remember this: Competitive strategy is simple – its about being different – in right ways.