Porter V Hamel
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1) The document discusses the difference between operational effectiveness and strategy, with operational effectiveness focusing on performing similar activities better than rivals, while strategy means performing different activities or similar activities in different ways. 2) It also discusses Michael Porter's view of generic strategies of cost leadership, differentiation, and focus, as well as strategic positions based on customer needs, accessibility, and variety of products/services. 3) The document then covers Gary Hamel's view of strategy as revolution, with 10 principles for strategic planning and 9 routes to industry revolution, contrasting Hamel and Porter's approaches to strategy.
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![OPERATIONAL EFFECTIVENESS IS NOT STRATEGY ,[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Michael E. Raynor is adirector at Detoitte ServicesLP, and
Michael E. Raynor is a
director at Detoitte Services
LP, and Mumtaz Ahmed
is a principal witii Deloitte
Consulting LLP and the chief
strategy officer for Deloitte
LLP. They are the authors
of The Three Rules: How Ex-
ceptional Companies Think,
forthcoming from Portfolio.
MUCH OF THE STRATEGY and m a n a g e m e n t a d v i c e
that business leaders turn to is unreliable or im-
practical. That's because those who would guide
us underestimate the power of chance. Gurus draw
pointed lessons from companies whose outstand-
ing results may be nothing more than random fluc-
tuations. Executives speak proudly of corporate
achievements that may be only lucky coincidences.
Unfortunately, almost no one provides scientifically
credible answers to every business leader's basic
questions about superior performance: Which com-
panies are worth studying? What sets them apart?
How can we follow their examples?
Frustrated by the lack of rigorous research, we
undertook a statistical study of thousands of com-
panies, and eventually identified several hundred
among them that have done well enough for a long
enough period of time to qualify as truly exceptional.
Then we discovered something startling: The many
and diverse choices that made certain companies
great were consistent with just three seemingly el-
ementary rules:
1. Better before cheaper—in other words, com-
pete on differentiators other than price.
2. Revenue before cost—that is, prioritize increas-
ing revenue over reducing costs.
3. There are no other rules—so change anything
you must to follow Rules 1 and 2.
The rules don't dictate specific behaviors; nor are
they even general strategies. They're foundational
concepts on which companies have built great-
ness over many years. How did these organizations'
io8 Harvard Business Review April 2013
HBR.ORG
April 2013 Harvard Business Review 109
THREE RULES FOR MAKING A COMPANY TRULY GREAT
leaders come to adopt them? We have no idea—nor
do we know whether the executives even followed
them consciously. Nevertheless, the rules can be
used to help today's and tomorrow's leaders increase
the chances that their companies, too, will deliver de-
cades of exceptional performance.
Beyond Truisms
The impetus for our research was the increasing pop-
ularity over the past 30 years of "success study" busi-
ness books and articles. Perhaps the most famous of
these are Thomas Peters and Robert Waterman's In
Search of Excellence (1982) and Jim Collins's Good to
Great (2001), but there are many others. The prob-
lem with them is they don't give us any way to judge
whether the companies they hold up as examples
are indeed exceptional. Randomness can crown an
average company king for a year, two years, even a
decade, before performance reverts to the mean. If
we can't be sure that the performance of companies
mentioned in success studies was caused by more
than just luck, we can't know whether to imitate their
behaviors.
We tackled the randomness problem ...
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- 1. WHAT IS STRATEGY? GLOBAL BUSINESS STRATEGY 2001 Michael Porter & Gary Hamel
- 10. STRATEGY AS REVOLUTION By GARY HAMEL
- 15. 9 Routes to Industry Revolution Reconceiving a Product/service Greatly improve price/performance Separate form & function Achieve joy of use Redefining Market space Push bounds of universality Strive for individuality Increase accessibility Redrawing Ind Boundaries Rescaling industries Compress supply chain Drive convergence or blur boundaries