Sound long-term strategy is key, particularly in a crisis: Harvard’s Michael Porter

"With the current global economic downturn and dire predictions of a re-run of the Great Depression of the 1930s, the forecast is all doom and gloom.

But Professor Michael Porter of Harvard University, a leading authority on competitive strategy, begs to differ. He believes this time of great economic upheaval to be the tipping point for companies – if only they know how to harness the right strategies.  

“It’s times like these when tremendous competitive success can be achieved. It’s times like these where companies can shift positions in the marketplace. It’s times like these when leaders can become followers, and followers can become leaders, because we are in a period where everything is now going to open and unfreeze.” (...) in Insead /Knowledge