This blog by Joan Magretta from the Institute for Strategy and Competitiveness at Harvard Business School describes five key traps managers have fallen fall into over and over again. Understanding Porter’s strategy fundamentals will help you to avoid them.
- Mistake #1. Confusing marketing with strategy
- Mistake #2. Confusing competitive advantage with “what you’re good at.”
- Mistake #3: Pursuing size above all else, because if you’re the biggest, you’ll be more profitable
- Mistake #4. Thinking that “growth” or “reaching $1 billion in revenue” is a strategy
- Mistake #5. Focusing on high-growth markets, because that’s where the money is
You may read the full post at “Five Common Strategy Mistakes“.