March 29: What Is Strategy? (Part 1 of 2)
“The essence of strategy is choosing what not to do. Without tradeoffs, there would be no need for choice and thus no need for strategy.” - Michael Porter
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Source: Harvard Business Review (pdf)
Published: November 1996
What Is Strategy? (Part 1 of 2)
Harvard Business School professor Michael Porter defined “strategy” in his classic 1996 article on the topic.
“The essence of strategy is choosing what not to do. Without tradeoffs, there would be no need for choice and thus no need for strategy.” - Michael Porter
Strategy is:
Choosing to perform activities differently than rivals do.
Proactive choices in the variety of products your business provides, the customer segments it serves, and the market channels it uses.
Outperforming rivals by establishing a difference you can preserve.
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An area I have the hardest time with, not doing something until confirming its on the critical path.
Well said - thanks for sharing!