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PM edition. Issue number 960

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Quote: Michael Porter - strategist, professor, author

“The best CEOs I know are teachers, and at the core of what they teach is strategy.” - Michael Porter - strategist, professor, author

Michael E. Porter, born on May 23, 1947, in Ann Arbor, Michigan, is a renowned economist and professor at Harvard Business School, widely recognized for his contributions to the field of competitive strategy. His early life was marked by frequent relocations across the United States, France, and Canada, due to his father's career as a civil engineer and army officer. This exposure to diverse cultures and economic environments sparked Porter's interest in understanding regional and national economic development.

Porter's academic journey began with a Bachelor of Science in Engineering (BSE) in aerospace and mechanical engineering from Princeton University in 1969, where he graduated first in his class. He then pursued an MBA with high distinction from Harvard Business School, followed by a PhD in business economics from Harvard University in 1973.

In 1983, Porter co-founded the Monitor Group, a strategy consulting firm that later became part of Deloitte Consulting. His seminal work, "Competitive Strategy" (1980), introduced frameworks like Porter's Five Forces, providing tools for analyzing industry competition. This was followed by "Competitive Advantage" (1985), where he introduced the value chain concept, emphasizing the importance of differentiating a company's activities to create unique value.

Porter's quote, "Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do—it's a matter of being different at what you do," encapsulates his belief that true competitive advantage stems from uniqueness rather than mere operational efficiency. This perspective is further elaborated in his 1996 Harvard Business Review article, "What is Strategy?" where he asserts, "The essence of strategy is choosing what not to do."

Throughout his career, Porter has emphasized that effective strategy involves making deliberate choices to deliver a unique mix of value to specific customer segments. This approach has influenced countless organizations and leaders, reinforcing the idea that differentiation, rather than direct competition, is key to sustainable success.

Quote: Michael Porter - strategist, professor, author

“The purpose of the corporation must be redefined as creating shared value, not just profit per se. This will drive the next wave of innovation and productivity growth in the global economy.” - Michael Porter - strategist, professor, author

Michael E. Porter, born on May 23, 1947, in Ann Arbor, Michigan, is a renowned economist and professor at Harvard Business School, widely recognized for his contributions to the field of competitive strategy. His early life was marked by frequent relocations across the United States, France, and Canada, due to his father's career as a civil engineer and army officer. This exposure to diverse cultures and economic environments sparked Porter's interest in understanding regional and national economic development.

Porter's academic journey began with a Bachelor of Science in Engineering (BSE) in aerospace and mechanical engineering from Princeton University in 1969, where he graduated first in his class. He then pursued an MBA with high distinction from Harvard Business School, followed by a PhD in business economics from Harvard University in 1973.

In 1983, Porter co-founded the Monitor Group, a strategy consulting firm that later became part of Deloitte Consulting. His seminal work, "Competitive Strategy" (1980), introduced frameworks like Porter's Five Forces, providing tools for analyzing industry competition. This was followed by "Competitive Advantage" (1985), where he introduced the value chain concept, emphasizing the importance of differentiating a company's activities to create unique value.

Porter's quote, "Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do—it's a matter of being different at what you do," encapsulates his belief that true competitive advantage stems from uniqueness rather than mere operational efficiency. This perspective is further elaborated in his 1996 Harvard Business Review article, "What is Strategy?" where he asserts, "The essence of strategy is choosing what not to do."

Throughout his career, Porter has emphasized that effective strategy involves making deliberate choices to deliver a unique mix of value to specific customer segments. This approach has influenced countless organizations and leaders, reinforcing the idea that differentiation, rather than direct competition, is key to sustainable success.

Quote: Michael Porter - strategist, professor, author

“Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.” - Michael Porter - strategist, professor, author

Michael E. Porter, born on May 23, 1947, in Ann Arbor, Michigan, is a renowned economist and professor at Harvard Business School, widely recognized for his contributions to the field of competitive strategy. His early life was marked by frequent relocations across the United States, France, and Canada, due to his father's career as a civil engineer and army officer. This exposure to diverse cultures and economic environments sparked Porter's interest in understanding regional and national economic development.

Porter's academic journey began with a Bachelor of Science in Engineering (BSE) in aerospace and mechanical engineering from Princeton University in 1969, where he graduated first in his class. He then pursued an MBA with high distinction from Harvard Business School, followed by a PhD in business economics from Harvard University in 1973.

In 1983, Porter co-founded the Monitor Group, a strategy consulting firm that later became part of Deloitte Consulting. His seminal work, "Competitive Strategy" (1980), introduced frameworks like Porter's Five Forces, providing tools for analyzing industry competition. This was followed by "Competitive Advantage" (1985), where he introduced the value chain concept, emphasizing the importance of differentiating a company's activities to create unique value.

Porter's quote, "Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do—it's a matter of being different at what you do," encapsulates his belief that true competitive advantage stems from uniqueness rather than mere operational efficiency. This perspective is further elaborated in his 1996 Harvard Business Review article, "What is Strategy?" where he asserts, "The essence of strategy is choosing what not to do."

Throughout his career, Porter has emphasized that effective strategy involves making deliberate choices to deliver a unique mix of value to specific customer segments. This approach has influenced countless organizations and leaders, reinforcing the idea that differentiation, rather than direct competition, is key to sustainable success.

Quote: Michael Porter - strategist, professor, author

“Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do - it's a matter of being different at what you do.” - Michael Porter - strategist, professor, author

Michael E. Porter, born on May 23, 1947, in Ann Arbor, Michigan, is a renowned economist and professor at Harvard Business School, widely recognized for his contributions to the field of competitive strategy. His early life was marked by frequent relocations across the United States, France, and Canada, due to his father's career as a civil engineer and army officer. This exposure to diverse cultures and economic environments sparked Porter's interest in understanding regional and national economic development.

Porter's academic journey began with a Bachelor of Science in Engineering (BSE) in aerospace and mechanical engineering from Princeton University in 1969, where he graduated first in his class. He then pursued an MBA with high distinction from Harvard Business School, followed by a PhD in business economics from Harvard University in 1973.

In 1983, Porter co-founded the Monitor Group, a strategy consulting firm that later became part of Deloitte Consulting. His seminal work, "Competitive Strategy" (1980), introduced frameworks like Porter's Five Forces, providing tools for analyzing industry competition. This was followed by "Competitive Advantage" (1985), where he introduced the value chain concept, emphasizing the importance of differentiating a company's activities to create unique value.

Porter's quote, "Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do—it's a matter of being different at what you do," encapsulates his belief that true competitive advantage stems from uniqueness rather than mere operational efficiency. This perspective is further elaborated in his 1996 Harvard Business Review article, "What is Strategy?" where he asserts, "The essence of strategy is choosing what not to do."

Throughout his career, Porter has emphasized that effective strategy involves making deliberate choices to deliver a unique mix of value to specific customer segments. This approach has influenced countless organizations and leaders, reinforcing the idea that differentiation, rather than direct competition, is key to sustainable success.

Quote: Kenichi Ohmae - strategist, author

“Rowing harder doesn't help if the boat is headed in the wrong direction.” - Kenichi Ohmae - strategist, author

Kenichi Ohmae, often referred to as "Mr. Strategy," is a distinguished Japanese organizational theorist and management consultant renowned for his contributions to strategic thinking. Born in 1943 in Kitaky, Japan, Ohmae's academic journey includes a Bachelor of Science in chemistry from Waseda University, a Master of Science in nuclear physics from the Tokyo Institute of Technology, and a doctorate in nuclear engineering from the Massachusetts Institute of Technology. His professional career spans roles as a senior design engineer at Hitachi and a 23-year tenure at McKinsey & Company, where he co-founded its strategic management practice.

In his seminal work, The Mind of the Strategist, Ohmae emphasizes the importance of challenging prevailing assumptions to develop effective strategies. He articulates this approach by stating, "The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?" This method involves persistently questioning existing practices to uncover underlying issues and opportunities for innovation.

Ohmae's strategic philosophy is further encapsulated in his 3Cs Model, which identifies three critical factors for business success: the Company, the Customers, and the Competitors. He posits that a business strategist should focus on these elements to achieve a sustainable competitive advantage. This model underscores the necessity of understanding and integrating these components to formulate effective strategies.

His insights have significantly influenced both Japanese and Western management practices, particularly in the realm of strategic planning and competitive analysis. By advocating for a questioning mindset and a comprehensive understanding of the business environment, Ohmae has provided a framework for organizations to navigate complex and dynamic markets.

Quote: Kenichi Ohmae - strategist, author

“Analysis is the critical starting point of strategic thinking.” - Kenichi Ohmae - strategist, author

Kenichi Ohmae, often referred to as "Mr. Strategy," is a distinguished Japanese organizational theorist and management consultant renowned for his contributions to strategic thinking. Born in 1943 in Kitaky?sh?, Japan, Ohmae's academic journey includes a Bachelor of Science in chemistry from Waseda University, a Master of Science in nuclear physics from the Tokyo Institute of Technology, and a doctorate in nuclear engineering from the Massachusetts Institute of Technology. His professional career spans roles as a senior design engineer at Hitachi and a 23-year tenure at McKinsey & Company, where he co-founded its strategic management practice.

In his seminal work, The Mind of the Strategist, Ohmae emphasizes the importance of challenging prevailing assumptions to develop effective strategies. He articulates this approach by stating, "The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?" This method involves persistently questioning existing practices to uncover underlying issues and opportunities for innovation.

Ohmae's strategic philosophy is further encapsulated in his 3Cs Model, which identifies three critical factors for business success: the Company, the Customers, and the Competitors. He posits that a business strategist should focus on these elements to achieve a sustainable competitive advantage. This model underscores the necessity of understanding and integrating these components to formulate effective strategies.

His insights have significantly influenced both Japanese and Western management practices, particularly in the realm of strategic planning and competitive analysis. By advocating for a questioning mindset and a comprehensive understanding of the business environment, Ohmae has provided a framework for organizations to navigate complex and dynamic markets.

Quote: Kenichi Ohmae - strategist, author

“The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?” - Kenichi Ohmae - strategist, author

Kenichi Ohmae, often referred to as "Mr. Strategy," is a distinguished Japanese organizational theorist and management consultant renowned for his contributions to strategic thinking. Born in 1943 in Kitaky?sh?, Japan, Ohmae's academic journey includes a Bachelor of Science in chemistry from Waseda University, a Master of Science in nuclear physics from the Tokyo Institute of Technology, and a doctorate in nuclear engineering from the Massachusetts Institute of Technology. His professional career spans roles as a senior design engineer at Hitachi and a 23-year tenure at McKinsey & Company, where he co-founded its strategic management practice.

In his seminal work, The Mind of the Strategist, Ohmae emphasizes the importance of challenging prevailing assumptions to develop effective strategies. He articulates this approach by stating, "The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?" This method involves persistently questioning existing practices to uncover underlying issues and opportunities for innovation.

Ohmae's strategic philosophy is further encapsulated in his 3Cs Model, which identifies three critical factors for business success: the Company, the Customers, and the Competitors. He posits that a business strategist should focus on these elements to achieve a sustainable competitive advantage. This model underscores the necessity of understanding and integrating these components to formulate effective strategies.

His insights have significantly influenced both Japanese and Western management practices, particularly in the realm of strategic planning and competitive analysis. By advocating for a questioning mindset and a comprehensive understanding of the business environment, Ohmae has provided a framework for organizations to navigate complex and dynamic markets.

Quote: Kenichi Ohmae - strategist, author

“The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?” - Kenichi Ohmae - strategist, author

Kenichi Ohmae, often referred to as "Mr. Strategy," is a distinguished Japanese organizational theorist and management consultant renowned for his contributions to strategic thinking. Born in 1943 in Kitaky?sh?, Japan, Ohmae's academic journey includes a Bachelor of Science in chemistry from Waseda University, a Master of Science in nuclear physics from the Tokyo Institute of Technology, and a doctorate in nuclear engineering from the Massachusetts Institute of Technology. His professional career spans roles as a senior design engineer at Hitachi and a 23-year tenure at McKinsey & Company, where he co-founded its strategic management practice.

In his seminal work, The Mind of the Strategist, Ohmae emphasizes the importance of challenging prevailing assumptions to develop effective strategies. He articulates this approach by stating, "The strategist's method is very simply to challenge the prevailing assumptions with a single question: Why?" This method involves persistently questioning existing practices to uncover underlying issues and opportunities for innovation.

Ohmae's strategic philosophy is further encapsulated in his 3Cs Model, which identifies three critical factors for business success: the Company, the Customers, and the Competitors. He posits that a business strategist should focus on these elements to achieve a sustainable competitive advantage. This model underscores the necessity of understanding and integrating these components to formulate effective strategies.

His insights have significantly influenced both Japanese and Western management practices, particularly in the realm of strategic planning and competitive analysis. By advocating for a questioning mindset and a comprehensive understanding of the business environment, Ohmae has provided a framework for organizations to navigate complex and dynamic markets.

Quote: Bruce Henderson, BCG Founder

“All strategy depends on competition.” - Bruce Henderson, BCG Founder

Bruce Doolin Henderson, born on April 30, 1915, in Nashville, Tennessee, was an influential figure in the field of business strategy. After studying mechanical engineering at Vanderbilt University, he attended Harvard Business School but left before completing his degree. Henderson's career began at Westinghouse Corporation, where he worked for 18 years, eventually becoming a vice president. In 1963, he founded the Boston Consulting Group (BCG), which grew into a leading management consulting firm under his leadership.

Henderson's strategic philosophy was deeply rooted in the concept of competition. He believed that the essence of a successful strategy lies in understanding and leveraging the differences between competitors, leading to distinct behaviors and outcomes. This perspective is encapsulated in his assertion: "The essential element of successful strategy is that it derives its success from the differences between competitors with a consequent difference in their behavior."

One of Henderson's notable contributions is the "Rule of Three and Four," which posits that a stable, competitive industry typically has no more than three significant competitors, with market shares in a 4:2:1 ratio. This hypothesis underscores his belief in the natural equilibrium of competitive markets and the importance of strategic positioning within them.

Henderson's ideas have been referenced and built upon by various business leaders and scholars. His emphasis on competition as the cornerstone of strategy has influenced contemporary strategic thinking, highlighting the necessity for businesses to understand their competitive landscape and to develop strategies that capitalize on their unique strengths and market positions.

In summary, Bruce Henderson's strategic insights, particularly his focus on competition, have left a lasting impact on the field of business strategy, emphasizing the need for companies to differentiate themselves and strategically navigate their competitive environments.

Quote: Sir Winston Churchill, British Prime Minister

“However beautiful the strategy, you should occasionally look at the results.” - Sir Winston Churchill, British Prime Minister

The quote, "However beautiful the strategy, you should occasionally look at the results," is often attributed to Winston Churchill. However, according to the International Churchill Society, this specific attribution cannot be verified.

Churchill's leadership during World War II was marked by a pragmatic approach to strategy, emphasizing the importance of adapting plans based on outcomes. He believed that while planning was essential, the true measure of a strategy's effectiveness lay in its results. This perspective is reflected in his other statements, such as, "Plans are of little importance, but planning is essential," and "He who fails to plan is planning to fail."

Churchill's emphasis on evaluating the effectiveness of strategies has resonated with many leaders and thinkers. For instance, former U.S. Secretary of Defense Donald Rumsfeld, who admired Churchill's strategic acumen, developed a complex card game called "Churchill Solitaire" to challenge and refine strategic thinking.

In essence, Churchill's approach underscores the importance of not only crafting well-thought-out strategies but also continuously assessing their outcomes to ensure they achieve the desired objectives.