Strategy

Strategy is about making deliberate choices that create competitive advantage — not setting goals, not listing priorities, not writing mission statements.

Porter's Five Forces reveals why some industries are structurally attractive and others are profit traps — before you even consider individual companies.

Competitive advantage is the structural reason a firm earns higher returns than rivals — and understanding its sources is the core job of strategy.

Corporate strategy decides what businesses to be in — the question one level above competitive strategy, and the one where most large firms get into trouble.

Sustainable competitive advantage comes from an interlocking system of activities that reinforce each other — not from a single brilliant move.

Analysis is necessary but not sufficient — real strategic work involves making choices under uncertainty, communicating them clearly, and knowing when to adapt.