Sublime

It can also be tempting to view a where-to-play choice as a given, as having been made for you. But a company always has a choice of where to play.

In 1928, the Dow Jones

taken the lead on innovation, developing new products and better products that, over time, trickle down to the mass market. Given P&G’s greater scale, lower distribution costs, and considerable in-house R&D capabilities, there was an opportunity to lead on innovation from the middle of the market.

Strategy therefore requires making explicit choices—to do some things and not others—and building a business around those choices.

The corporate level needs to develop a draft value-adding rationale for the next level.

significant parts of the organization should be structured as projects-that is, with teams and processes designed to move knowledge forward a stage-with a definite end point.

To determine how to win, an organization must decide what will enable it to create unique value and sustainably deliver that value to customers in a way that is distinct from the firm’s competitors. Michael Porter called it competitive advantage—the specific way a firm utilizes its advantages to create superior value for a consumer or a customer an

She builds her own management systems, like a personal cheat sheet for products and styles and a directory of her favorite local studios and instructors.

Fourth and finally, the integrative thinker will always search for creative resolution of tensions, rather than accept unpleasant trade-offs.