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Understanding Michael Porter: The Essential Guide to Competition and Strategy by Joan Magretta

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CHAPTER 7

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Continuity:

The Enabler

WE COME NOW TO the fifth and final test of strategy: continuity over time. To recap: the first two tests—a unique value proposition and a tailored value chain—are the core of a strategy. Trade-offs, the third test, are the economic linchpin. They make differences in price and cost possible and sustainable. Fit, the fourth test, is an amplifier, enhancing the cost and price differences that are the essence of competitive advantage, and making it even harder for rivals to copy the strategy. Continuity is the enabler. All the other elements of strategy—tailoring, trade-offs, fit—take time to develop. Without continuity, ...

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