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" The essence of strategy is choosing what not to do. "

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" 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. "

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

" I'm really puzzled by why people in societies find it difficult to work collaboratively together with other people in societies. "

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

" Change brings opportunities. On the other hand, change can be confusing. "

" Technology has given us this wonderful opportunity to have low energy costs. We have to seize that, rather than keep debating and discussing and fighting over it. "

" The company without a strategy is willing to try anything. "

" Being an American doesn't mean that you're guaranteed a high wage. You have to be productive, and we have to create a very low-cost, efficient place to do business, and we've let all that slip in America. "

" 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. "

" Ultimately, health care fails the most basic test. It's not organized around the needs of the patient. "

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

" Strategy 101 is about choices: You can't be all things to all people. "

" A strategy delineates a territory in which a company seeks to be unique. "

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

" 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. "

" 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. "

" The chief strategist of an organization has to be the leader - the CEO. "

" 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. "

" Sound strategy starts with having the right goal. "

" Companies operating in urban communities have a tremendous ripple effect. "

" 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? "

" Finally, strategy must have continuity. It can't be constantly reinvented. "

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

" 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. "

" 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. "

" 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. "

" 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. "

" Health care historically has been a very siloed field that's organized around medical specialties - urology, cardiac surgery, and so forth - and around the supply of these specialty services. The patient is the ping-pong ball that moves from service to service. "

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

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