“Essentially, developing a competitive strategy is developing a broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals.”
SUMMARY: The book has become a bible on competitive strategy. It contains a competitive strategic framework and insightful advice that has stood the test of time as it was written giving consideration to changing and growing industry realities.
1. There is competitive advantage in developing efficiencies in cost, service, or product.
2. A unique value proposition makes you stand out from your industry peers.
3. The more niched your business can become, the better your chances to position your business as an expert, gaining the competitive advantage of credibility.
READ IF: You are a leader or entrepreneur wanting to understand who your competition is and how to rise above it.