"Some of the biggest changes have been in the process of generating business strategies—what I call “strategy work.” Around 1980, the received wisdom was to decentralize into business units, which would each generate a strategic plan. These plans were then amalgamated up the hierarchy, in some portfolio way, for senior management. That approach has all but disappeared, and we’ve seen a dramatic recentralization of strategy work."

“It is commonly accepted that successful performance of a firm hinges on restricting activities to cultivating a related and familiar range rather than 'bold moves into uncharted'.”

“A leader’s most important job is creating and constantly adjusting this strategic bridge between goals and objectives.”

“common skill, market or resource applies to each.”

“The kernel of a strategy contains three elements: a diagnosis, a guiding policy, and coherent action.”

“Given that background, I was interested in what Steve Jobs might say about the future of Apple. His survival strategy for Apple, for all its skill and drama, was not going to propel Apple into the future. At that moment in time, Apple had less than 4 percent of the personal computer market. The de facto standard was Windows-Intel and there seemed to be no way for Apple to do more than just hang on to a tiny niche.”

“A major advancement in the strategy field is the development of models where firm heterogeneity is an endogenous creation of economic actors.”