Michael Porter, the world’s leading authority on competition and strategy, is sometimes the victim of his own success. We use his terminology every day — competitive advantage, the value chain, differentiation, value creation. We think, therefore, that we “know” his work. But in fact, most managers don’t. They talk the talk, but they have turned his powerful ideas into business buzzwords. Competitive advantage, for example, is often used to mean “anything we think we’re good at.” Any plan or program is called a strategy. Managers confuse differentiation with being different.
Strategy Essentials You Ignore at Your Peril
Michael Porter, the world’s leading authority on competition and strategy, is sometimes the victim of his own success. We use his terminology every day — competitive advantage, the value chain, differentiation, value creation. We think, therefore, that we “know” his work. But in fact, most managers don’t. They talk the talk, but they have turned […]
December 22, 2011
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How to develop a winning strategy—and put it to work.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.