"The essence of formulating strategy is relating a company to its environment."

“There's a fundamental distinction between strategy and operational effectiveness. Strategy is about making choices, trade-offs; it's about deliberately choosing to be different. Operational effectiveness is about things that you really shouldn't have to make choices on; it's about what's good for everybody and about what every business should be doing.”

“Quasi-integration is to use debt or equity investments and other means to create alliances between vertically related firms without full ownership.”

“The grandfather of concepts for predicting the probable course of industry evolution is the familiar.”

“Low cost relative to competitors becomes the theme running through the entire strategy, though quality, service and other areas cannot be ignored.”

“The firm achieving focus may also potentially earn above-average returns for its industry. Its focus means that the firm either has a low cost position with its strategic target, high differentiation, or both.”

“The success of a strategy depends on doing many things well – not just a few – and integrating among them.”