The essence of strategy is choosing what not to do.

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

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.

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

The U.S. is facing a structural competitiveness problem that is leading to the weakest economy we have seen in generations.

Competitiveness is defined as the ability of companies to compete while maintaining or improving the average standard of living. If you are cutting wages to become more competitive, that's not really more competitive. It's raising the skill and the efficiency of those workers so that they can support and sustain that higher wage.

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