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Michael Porter, the great expert on strategy at Harvard Business School, considered by many the "father of strategy", made a presentation to the public of the Wharton School of the basic principles of his theory.
Many errors occur fault business strategy of the organization aegy itself. "" Stay focused exclusively on shareholder value is the 'Bermuda Triangle' strategies. "These were two of the teachings of a lecture given recently at the Wharton School by Michael Porter , director of the Institute for Strategy and Competitiveness, Harvard Business School, and one of the most respected experts in strategy worldwide. At least the first statement is a turnaround in the thinking of Porter. When he began studying strategies, he thought Most strategic mistakes had external source in consumer trends or technological changes. "But after 25 or 30 years of practice, I realized that many strategic mistakes, if not nearly all, come from within. It is the company itself that commits. "Competition destructive Generally, aegy the origin of the strategies is in bad shape to face competition, Porter noted the critical public Wharton. Many companies aim to be the best in your industry and best in all aspects of the business: from marketing to supply chain through development of products. The problem with this thinking is that there is an organization aegy "best" in a given sector. "What is the best car?" asked them. "It depends on who uses it. It depends on the intended use. Depends on the budget. aegy "Managers who believe there is a better company than the other or a set of processes are more prone to destructive competition." The worst mistake is to compete in the same categories, "said Porter." This only causes an escalation of situation, which, in turn, leads to lower prices or higher costs unless the competitor is inept. "Companies should try to be unique, he added. executives need to ask themselves:" How to offer a unique value that caters for a range of essential needs of a group of important clients?. "Another mistake that managers make, according aegy to the expert, is relying on a faulty definition of strategy." 'Strategy' is a word used in many different ways with so many meanings, that may not mean anything. "Many executives of large companies confuse aegy strategy with aspiration. An organization that states that its strategy is to become a leader in technology or consolidating the industry is not describing aegy a strategy, but a goal . "This strategy relates aegy to what makes the company be unique", said Porter. Managers also tend to believe that actions such as merger or outsourcing strategy is. "That's not strategy," he warned. speaks not of the position that the company occupy exclusively. For Porter, it is important that the organization defines its strategy, as this will determine in advance the choices that will shape their decisions and actions. statements of vision and mission should not be considered strategy, either. Companies spend months negotiating word for word and the results may be of value in relation to its mission or vision, but do not replace strategy. past ten years, companies became more confused as to their corporate objectives. According to Porter, the only goal that makes sense is getting considerable return on invested capital, since it is the only objective aligned to economic values. And the criticism continued. "Lately companies have been developing profitability measures that do not hold up," he said, citing as an example the amortization of goodwill (goodwill). Some of these measures were engendered in trying aegy to keep the managers of the company one step ahead of the demands of Wall Street. "What started as a game for the capital markets began to confuse the managers themselves. They now make decisions that are not based on fundamental aegy principles of economics. "Porter said the" Bermuda Triangle strategy "is the confusion regarding the economic performance and shareholder value." We went through a decade horrible, when People thought that the purpose of a business was to create shareholder value. The shareholder value is the result. The shareholder value arises when economic performance is exceptional. "To think that the share price in a given day, or in an instant any, accurately reflects the economic value