by Michael E. Porter
Harvard Business Review
MICHAEL E. PORTER
THE HOLLOW RING OF THE PRODUCTIVITY REVIVAL
THE POWER OF TRUST IN
JAMES WALDROOP AND TIMOTHY BUTLER
THE EXECUTIVE AS COACH
THE QUESTIONS EVERY ENTREPRENEUR MUST ANSWER
STEPHEN S. ROACH
WHAT IS STRATEGY?
WHAT HOLDS THE MODERN COMPANY TOGETHER?
MICHAEL C. BEERS
HBR CASE STUDY
THE STRATEGY THAT WOULDN’T TRAVEL
THE HUMAN SIDE OF MANAGEMENT
SOCIAL …show more content…
Positioning – once the heart of strategy – is rejected as too static for today’s dynamic markets and changing technologies. According to the new dogma, rivals can quickly copy any market position, and competitive advantage is, at best, temporary.
But those beliefs are dangerous half-truths, and they are leading more and more companies down the path of mutually destructive competition.
True, some barriers to competition are falling as regulation eases and markets become global. True, companies have properly invested energy in becoming leaner and more nimble. In many industries, however, what some call hypercompetition is a self-inflicted wound, not the inevitable outcome of a changing paradigm of competition.
The root of the problem is the failure to distinguish between operational effectiveness and stratHARVARD BUSINESS REVIEW
What Is Strategy?
Necessary but Not Sufficient
Operational effectiveness and strategy are both essential to superior performance, which, after all, is the primary goal of any enterprise. But they work in very different ways.
Michael E. Porter is the C. Roland Christensen Professor of Business Administration at the Harvard Business
School in Boston, Massachusetts.
November-December 1996 Copyright © 1996 by the