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Michael Porter Quotes
born 1947 United States
Michael Eugene Porter (born May 23, 1947) 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 (now part of Deloitte) and FSG, a social impact consultancy.
United States Academics Business theorists Also known as: Michael E. Porter, Michael Eugene Porter
Random Michael Porter quote
11 quotes
The best CEOs I know are teachers, and at the core of what they teach is strategy.
Low cost relative to competitors becomes the theme running through the entire strategy, though quality, service and other areas cannot be ignored.
The essence of strategy is choosing what not to do.
The grandfather of concepts for predicting the probable course of industry evolution is the familiar product life cycle.
The essence of formulating strategy is relating a company to its environment.
Quasi-integration is to use debt or equity investments and other means to create alliances between vertically related firms without full ownership.
Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.
The success of a strategy depends on doing many things well – not just a few – and integrating among them.
The firm achieving focus may also potentially earn above-average returns for its industry. Its focus means that the firm either has a low cost position with its strategic target, high differentiation, or both.
Early entry is appropriate when the following general circumstances hold
If people in the organization don't understand how a company is supposed to be different, how it creates value compared to its rivals, then how can they possibly make all of the myriad choices they have to make? Every salesman has to know the strategy — otherwise, he won't know who to call on. Every engineer has to understand it, or she won't know what to build.
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