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" Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money. "
Michael Porter
Thinking
Philanthropy
Business
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" Ultimately, health care fails the most basic test. It's not organized around the needs of the patient. "
Michael Porter
Organized
Care
Health
" The best CEOs I know are teachers, and at the core of what they teach is strategy. "
Michael Porter
Teacher
Best
Know
" In America, the problems of poverty and low income, particularly for minorities, are disproportionately focused in the inner cities. Shining a spotlight on the businesses growing in these communities is proof that any community has the potential for entrepreneurship. "
Michael Porter
Community
America
Poverty
" As a multisport athlete, I was always fascinated with competition and how to win. At HBS and later at the Harvard Department of Economics, I was drawn to the field of competition and strategy because it tackles perhaps the most basic question in both business management and industrial economics: What determines corporate performance? "
Michael Porter
Business
Management
Competition
" Change brings opportunities. On the other hand, change can be confusing. "
Michael Porter
Change
Confusing
Opportunities
" Millennials are more aware of society's many challenges than previous generations and less willing to accept maximizing shareholder value as a sufficient goal for their work. They are looking for a broader social purpose and want to work somewhere that has such a purpose. "
Michael Porter
Value
Work
Challenges
" The underlying principles of strategy are enduring, regardless of technology or the pace of change. "
Michael Porter
Change
Principles
Strategy
" You can't have a healthy society unless you have healthy companies that are making a profit, that are employing people and that are growing. "
Michael Porter
People
Society
Healthy
" The company without a strategy is willing to try anything. "
Michael Porter
Company
Without
Willing
" As minorities and other immigrant groups become more important to our economy, the inner city is a crucible that gives us an early look at phenomena that are going to be spreading more broadly in the economy over time. "
Michael Porter
Important
Over
City
" A strategy delineates a territory in which a company seeks to be unique. "
Michael Porter
Territory
Unique
Strategy
" Innovation is the central issue in economic prosperity. "
Michael Porter
Economic
Issue
Prosperity
" Companies operating in urban communities have a tremendous ripple effect. "
Michael Porter
Communities
Effect
Urban
" There's a fundamental distinction between strategy and operational effectiveness. "
Michael Porter
Distinction
Strategy
Effectiveness
" The essence of strategy is choosing what not to do. "
Michael Porter
Choosing
Essence
Strategy
" I'm really puzzled by why people in societies find it difficult to work collaboratively together with other people in societies. "
Michael Porter
Difficult
People
Together
" Unfortunately, I'm an engineer. I'm always thinking about, what's the task and how do I get it done? And some of my tasks are pretty broad, and pretty fuzzy, and pretty funky, but that's the way I think. "
Michael Porter
Task
Done
Always
" In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others. "
Michael Porter
Mind
Strategy
You
" The essence of strategy is that you must set limits on what you're trying to accomplish. "
Michael Porter
Trying
Essence
Limits
" The ability to change constantly and effectively is made easier by high-level continuity. "
Michael Porter
Ability
Change
Continuity
" Good leaders need a positive agenda, not just an agenda of dealing with crisis. "
Michael Porter
Crisis
Leaders
Good
" 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. "
Michael Porter
Leader
Technology
Problems
" 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. "
Michael Porter
Very
Good
Hand
" Strategy is about making choices, trade-offs; it's about deliberately choosing to be different. "
Michael Porter
Be Different
Strategy
Making
" I teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it's the best perch... because most of my work crosses boundaries. "
Michael Porter
Best
Business
Health
" The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they're mutually reinforcing. "
Michael Porter
Fact
Direction
Other
" America used to be a uniquely productive, low-cost place to do business. We had efficient infrastructure. We had limited regulation. We believed in the market. "
Michael Porter
Market
Place
America
" Sound strategy starts with having the right goal. "
Michael Porter
Strategy
Having
Right
" 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. "
Michael Porter
You
Successful
Trying
" Companies understand that if their employees are sick, it's really expensive. So despite the rhetoric I hear, thank God employers are still in the health-care system. "
Michael Porter
Sick
God
Employees