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A strategy delineates a territory in which a company seeks to be unique.
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Finally, strategy must have continuity. It can’t be constantly reinvented.
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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.
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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.
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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.
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Sound strategy starts with having the right goal.
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Strategy 101 is about choices: You can’t be all things to all people.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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The ability to change constantly and effectively is made easier by high-level continuity.
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The best CEOs I know are teachers, and at the core of what they teach is strategy.
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The company without a strategy is willing to try anything.
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The essence of strategy is that you must set limits on what you’re trying to accomplish.
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The essence of strategy is choosing what not to do.
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The underlying principles of strategy are enduring, regardless of technology or the pace of change.
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Innovation is the central issue in economic prosperity.
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The chief strategist of an organization has to be the leader – the CEO.