to win in the future, companies must stop competing with each other. The only way to beat the competition is to stop trying to beat the competition. - Michael E. Porter

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to win in the future, companies must stop competing with each other. The only way to beat the competition is to stop trying to beat the competition.

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About Michael E. Porter

Michael Eugene Porter (born May 23, 1947) is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and he was one of the founders of the consulting firm The Monitor Group (now part of Deloitte) and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development today.

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Additional quotes by Michael E. Porter

Executives are paralyzed by the muddle. Few employees deep down in the company even know what the strategy is. And a closer look reveals that most plans don’t contain a strategy at all but rather a smorgasbord of tactics that individually make sense but collectively don’t add up to a unified, clear direction that sets a company apart — let alone makes the competition irrelevant. Does this sound like the strategic plans in your company?

What are the alternative industries to your industry? Why do customers trade across them? By focusing on the key factors that lead buyers to trade across alternative industries and eliminating or reducing everything else, you can create a blue ocean of new market space.

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