If a strategy meets a goal: It's working. If a strategy meets a target: It's a success.
Michael PorterRead
As a multisport athlete, I was always fascinated with competition and how to win. At HBS and later at the Harvard Department of Economics, I was drawn to the field of competition and strategy because it tackles perhaps the most basic question in both business management and industrial economics: What determines corporate performance?
Interpretation
What this quote means
The quote reflects on the importance of understanding competition in achieving success in business.
Michael Porter emphasizes the significance of competition and strategy in the context of corporate performance. His experiences as a multisport athlete fueled his interest in competitive dynamics, leading him to explore how these concepts apply to business management and economics. The core idea is that understanding what drives competitive success can lead to better corporate outcomes.
Themes
CompetitionStrategyCorporate PerformanceBusinessSuccess
In practice
Example use cases
This quote is perfect for a business seminar focused on competitive strategy.
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