Michael Porter
Michael Porter
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and he was one of the founders of the consulting firm The Monitor Group...
NationalityAmerican
ProfessionEducator
CountryUnited States of America
choices different strategy
Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.
mean unique being-different
Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.
competition being-different matter
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.
academics business disagree managers satisfied
Too many academics and business managers are satisfied with the 'good feeling' as argument. I disagree completely.
business efficient guaranteed high slip
Being an American doesn't mean that you're guaranteed a high wage. You have to be productive, and we have to create a very low-cost, efficient place to do business, and we've let all that slip in America.
last loss ready taste thinking
We'll be ready for Thursday's game, but I know I'm thinking of Branson on Saturday. The taste from last year's loss is still there. We want to see Branson again.
It's better that there aren't many people. You get more one?on?one time.
cities few inner job relatively thriving
It's sobering. It suggests that there are relatively few inner cities that are thriving in the sense of job growth.
accept aware broader challenges less looking previous purpose social society somewhere sufficient value willing work
Millennials are more aware of society's many challenges than previous generations and less willing to accept maximizing shareholder value as a sufficient goal for their work. They are looking for a broader social purpose and want to work somewhere that has such a purpose.
business managers narrow rather seen sensitive social society trying unethical
I think that, too many times, business has been seen as acting in its narrow self-interest rather than, essentially, contributing more broadly to society. I think a lot of that is unintentional; I don't think that many managers are deliberately trying to be unethical or are not trying to be sensitive to social needs.
american-educator companies continuity good maintain
So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving.
american-educator
Strategy 101 is about choices: You can't be all things to all people.
crucible early gives groups immigrant inner minorities phenomena spreading time
As minorities and other immigrant groups become more important to our economy, the inner city is a crucible that gives us an early look at phenomena that are going to be spreading more broadly in the economy over time.
across clear cut instinct lay pare period reconnect worst
In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others.