The essence of strategy is choosing what not to do.
Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.
Strategy 101 is about choices: You can't be all things to all people.
The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they're mutually reinforcing.
The essence of strategy is that you must set limits on what you're trying to accomplish.
Change brings opportunities. On the other hand, change can be confusing.
The company without a strategy is willing to try anything.
The best CEOs I know are teachers, and at the core of what they teach is strategy.
The underlying principles of strategy are enduring, regardless of technology or the pace of change.
Innovation is the central issue in economic prosperity.
There's a fundamental distinction between strategy and operational effectiveness.
Millennials are more aware of society's many challenges than previous generations and less willing to accept maximizing shareholder value as a sufficient goal for their work. They are looking for a broader social purpose and want to work somewhere that has such a purpose.
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.
Sound strategy starts with having the right goal.
Good leaders need a positive agenda, not just an agenda of dealing with crisis.
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.
Finally, strategy must have continuity. It can't be constantly reinvented.
The ability to change constantly and effectively is made easier by high-level continuity.
Ultimately, health care fails the most basic test. It's not organized around the needs of the patient.
A strategy delineates a territory in which a company seeks to be unique.
