Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs. Michael Porter More Quotes by Michael Porter More Quotes From Michael Porter The essence of strategy is choosing what not to do. Michael Porter transcendentalismdeep-thoughtessence Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do - it's a matter of being different at what you do. Michael Porter being-differentcompetitionmatter Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value. Michael Porter being-differentuniquemean Strategy is about making choices, trade-offs; it's about deliberately choosing to be different. Michael Porter strategydifferentchoices Businesses must reconnect company success with social progress. Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success. It is not on the margin of what companies do but at the center. We believe that it can give rise to the next major transformation of business thinking. Michael Porter responsibilitybelievethinking The purpose of the corporation must be redefined as creating shared value, not just profit per se. This will drive the next wave of innovation and productivity growth in the global economy. Michael Porter creatinginnovationgrowth A strategy delineates a territory in which a company seeks to be unique. Michael Porter strategyterritoryunique If a strategy meets a goal: It's working. If a strategy meets a target: It's a success. Michael Porter strategytargetgoal The best CEOs I know are teachers, and at the core of what they teach is strategy. Michael Porter ceostrategyteacher 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. Michael Porter rivalssuccessfultrying Innovation is the central issue in economic prosperity. Michael Porter issuesinnovationcreativity There's a fundamental distinction between strategy and operational effectiveness. Michael Porter effectivenessstrategyfundamentals Sound strategy starts with having the right goal Michael Porter tactics-and-strategygoalsound 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. Michael Porter cuttingskillsaverage Strategy is choice. Strategy means saying no to certain kinds of things. Michael Porter saying-nochoicesmean The company without a strategy is willing to try anything. Michael Porter strategycompanytrying The essence of strategy is that you must set limits on what you're trying to accomplish. Michael Porter limitsessencetrying 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. Michael Porter ping-pongballsmoving A target should go with every goal. A target is the value that defines success. Michael Porter targetgoalshould 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 technologyleadergoal
