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“Competition on dimensions other than price - on product features, support services, delivery time, or brand image, for instance - is less likely to erode profitability because it improves customer value and can support higher prices. p.32”
― Michael E. Porter, HBR's 10 Must Reads on Strategy

“Substitutes are always present, but they are easy to overlook because they may appear to be very different from the industry’s product p.31”
― Michael E. Porter, HBR's 10 Must Reads on Strategy

“Operational effectiveness: necessary but not sufficient Operational effectiveness and strategy are both essential to superior performance, which, after all, is the primary goal of any enterprise. But they work in very different ways. A company can outperform rivals only if it can establish a difference that it can preserve. It must deliver greater value to customers or create comparable value at a lower cost, or do both. The arithmetic of superior profitability then follows: delivering greater value allows a company to charge higher average unit prices; greater efficiency results in lower average unit costs. Ultimately, all differences between companies in cost or price derive from the hundreds of activities required to create, produce, sell, and deliver their products or services, such as calling on customers, assembling final products, and training employees. Cost is generated by performing activities, and cost advantage arises from performing particular activities more”
― Michael E. Porter, HBR's 10 Must Reads on Strategy

“Managers must clearly distinguish operational effectiveness from strategy.”
― Michael E. Porter, HBR's 10 Must Reads on Strategy