Michael Porter on What is Strategy?

 

I’ve often said that it’s not the lack of strategic thinking that gets many business leaders in trouble. Rather, it’s mistaking other kinds of thinking for strategic thinking that can cause all sorts of problems in an organization of any size with direct reports. When a strategic direction is chosen, it must be communicated to everyone to ensure alignment with that strategy. However, to mistake a tactic or activity or a goal as a strategy can be a shortcut to disaster, as Michael Porter emphasizes in this excerpt.

Unlock the growth potential of your business by being clear that a strategy is how your organization is going to achieve a unique, desirable, and sustainable position in the marketplace. Watch this video and share your thoughts on the lessons you learn.