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Understanding Michael Porter: Stop Trying to Be the Best (Joan Magretta)
Striving to be the best at what you do is an express lane to burned-out teams and collapsing profit margins. In business, competing to be the best assumes a zero-sum race with a single winner, locking you into costly wars of attrition on the exact same treadmill as your rivals. True strategy, as Michael Porter revealed, is about competing to be unique. Sustainable competitive advantage comes from choosing what not to do and embracing sharp trade-offs that make certain customers walk away. Just as IKEA thrives by rejecting standard showroom service and Enterprise beat airport incumbents by…
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