When we ask, “What works in all companies?” we’re looking for an absolute formula in a field — competition in a marketplace setting — that is inherently relative. The answer is, “There isn’t one formula.” If everybody in the industry follows the same prescription, they won’t all be successful. Once we accept this, we’re in the realm of making judgments under uncertainty that are different from the judgments our rivals make. If everybody knew how to be different from their rivals in the best way and everybody did it, they would no longer be different from their rivals.
Content: Quotation
Author: Phil Rosenzweig
Source: strategy+business
Subjects: Best Practices, Competition, Management
Author: Phil Rosenzweig
Source: strategy+business
Subjects: Best Practices, Competition, Management
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