Michael Porter

It's probably happened over the last five or six years, in my opinion anyway, that procurement is now present at that proverbial top table conversations.

you know, and it's taken a few recessions, a global pandemic and everything else thrown into the mix that then finally all of a sudden there's this realisation that this back office function, Michael Porter's value chain has still got us listed as a secondary activity, is now at the front because how do organisations get better value for money? They buy better.

So, you know, and whether that's from a commercial sense or much of what we discussed today from a qualitative perspective.

I

Ruba explains why the strategist is only as effective as the operator they are paired with.

and how to help that partner see the world through your eyes, from where we look at how AI, robotics, and new materials are breaking the old trade-off between scale and complexity, and why the challenges that Michael Porter's classic choices between cost and differentiation, how they're changing.

We get into the 80-20 rule and how it can quietly starve tomorrow's innovation and how to spot which of today's 20s can become tomorrow's 80s.

We also explore why companies should define themselves by capabilities rather than products.

All right.

Let's get into what I think our readers or listeners will find more directly relevant to their work if they want to stay relevant and help their organization stay relevant in the future.

So let's go with Michael Porter.

Michael Porter is famously laid out, there are two generic strategies, there's cost, or there's differentiation.

Nine CEOs offered us a self-reported glimpse into their calendars.

A more rigorous approach, employed by Nitin Nooria and Michael Porter of Harvard Business School for their groundbreaking study on CEO time published in 2018, had executive assistants code their bosses' time in 15-minute increments, 24 hours a day, 7 days a week.

We gathered responses from Constantine Alexandrakis and Russell Reynolds Associates, RRA, Kelly Cook of David's Bridal, Mary Ellen Coyne of J. Jill, Vimal Kapoor of Honeywell Technologies, Raj Mehra of Sage, Brianne Olson of Paxon, Tyler Perry of Mission North, Rene Saul of Capital, and Job van der Voort of Remote.

Here's what we learned.

My second beef is that's not really what we should expect of our healthcare system.

If you ask people, back to the classic sort of Michael Porter value, what are the outcomes you want to generate for a given level of resources, which is different.

And if all of that sounds abstract, If you're a general manager or clinician leading outpatient department and you're asked to improve productivity, you'll be thinking, how many more outpatient attendances can I generate for my resources? If I tell you improve value, then suddenly you're into, actually there are 30 to 40% of patients we don't need to see them.

We certainly don't need to see them on this frequency.

But I think it could be said for any leader in any organization.

But this is an article by Michael Porter.

But he said, in large, complex businesses, CEOs can almost never spend enough time on strategy.

They must be constantly working to shape it, refine it, communicate it, reinforce it, and help people recognize when they may be drifting from it.