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Michael Porter

There's a fundamental distinction between strategy and operational effectiveness.

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The best CEOs I know are teachers, and at the core of what they teach is strategy.

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The essence of strategy is that you must set limits on what you're trying to accomplish.

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The ability to change constantly and effectively is made easier by high-level continuity.

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Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.

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The underlying principles of strategy are enduring, regardless of technology or the pace of change.

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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.

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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.

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Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.

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So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving.

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