A business model is a description of how your business runs, but a competitive strategy explains how you will do better than your rivals. That could be by offering a better business model — but it can also be by offering the same business model to a different market.
Content: Quotation | Authors: Andrea Ovans, Joan Magretta | Source: Harvard Business Review | Subject: Strategy
In “What Is Strategy,” [Michael] Porter argues against a bevy of alternate views … At a fundamental level, all strategies for Porter boil down to two very broad options: Do what everyone else is doing (but spend less money doing it), or do something no one else can do.
A tour de force by any measure, “What Is Strategy?” is certainly required reading for all … [ Read more ]
Content: Article | Author: Andrea Ovans | Source: Harvard Business Review | Subject: Strategy
In The New, New Thing, Michael Lewis refers to the phrase business model as “a term of art.” And like art itself, it’s one of those things many people feel they can recognize when they see it (especially a particularly clever or terrible one) but can’t quite define. That’s less surprising than it seems because how people define the term really depends on how … [ Read more ]
Content: Article | Author: Andrea Ovans | Source: Harvard Business Review | Subjects: Management, Strategy