Famed Harvard Business School Prof. Michael Porter’s approach to organizational strategy has been transformative for many companies.
Mr. Porter has recently turned to the healthcare, business co-authoring a book, Redefining Healthcare, with Elizabeth Teisberg, as well as writing on the topic in the Harvard Business Review, the New England Journal of Medicine and the Journal of the American Medical Association.
Among his ideas for successful strategies, reports Hospitals & Health Networks:
“Strategies explain how an organization will create unique value.”
“Market structure determines profitability and shapes strategies.”
“Successful organizations compete to be different, not to be the best.”
“The essence of strategy is choosing what not to do.”
“Being different requires doing different.”
“There are generic strategies that have broad, universal application.”
“Strategic success requires fit and continuity.”
Clusters can support competitive advantage.”
