The document discusses the concepts of strategy, operational effectiveness, and competitive advantage. It argues that strategy involves doing things differently than competitors to deliver unique value through a set of carefully chosen activities. This requires strategic positioning based on variety, customer needs, or access. A sustainable strategic position relies on trade-offs that protect the position from competitors. Fit across complementary activities is important for achieving a sustainable competitive advantage. Growing in ways consistent with the original strategy helps companies maintain their uniqueness.

1. WHAT IS STRATEGY? BY Michael E. Porter Presented by: IDREES WARIS 3095

4. ↓ costs + ↑ prices = ↑ profitability