Reference no: EM131802503

1. Operational effectiveness is necessary, but it is not a strategy. In fact, always striving to outperform your competitors at doing much the same operations can become a path to lower profits and failure. Rather, the essence of strategy is choosing to perform activities differently than your rivals do, or even better, to perform different activities than your rivals, especially activities that give you a unique way to contribute value to customers that they recognize and appreciate.

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2. Even small, strategic changes can produce big results over time, but the areas of highest leverage, where you want to make changes, are often the least obvious. Smart strategists look for these potential high leverage change(s), make the change(s), and then seek to use reinforcing feedback processes to enable the small change(s) to grow.

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3. The habit "think win/win" is one of those that is always appropriate in our personal lives but seldom appropriate in the competitive world of business.

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4. What we choose to think about, and how we choose to speak and act, in turn affects how we see the world, and how we see the world has a dramatic impact upon our experience of and interactions with the world outside our own mind and heart. In fact, expectancy theory, the self-fulfilling prophecy phenomenon, and the Pygmalion Effect show us that how we see the world can actually change us and the world around us.

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