Innovation is the central issue in economic prosperity.

The underlying principles of strategy are enduring, regardless of technology or the pace of change.

Companies operating in urban communities have a tremendous ripple effect.

Change brings opportunities. On the other hand, change can be confusing.

Finally, strategy must have continuity. It can’t be constantly reinvented.

If your goal is anything but profitability – if it’s to be big, or to grow fast, or to become a technology leader – you’ll hit problems.

A strategy delineates a territory in which a company seeks to be unique.

Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.

Sound strategy starts with having the right goal.

The essence of strategy is choosing what not to do.

There’s a fundamental distinction between strategy and operational effectiveness.

The best CEOs I know are teachers, and at the core of what they teach is strategy.

The company without a strategy is willing to try anything.

The ability to change constantly and effectively is made easier by high-level continuity.

The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they’re mutually reinforcing.

The essence of strategy is that you must set limits on what you’re trying to accomplish.

Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.

Strategy 101 is about choices: You can’t be all things to all people.

So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving.

Innovation is the central issue in economic prosperity.

The chief strategist of an organization has to be the leader – the CEO.

If all you’re trying to do is essentially the same thing as your rivals, then it’s unlikely that you’ll be very successful.