Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.

Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.

Efforts to preserve all industries will lower the national standard of living.

Strategy is about setting yourself apart from the competition. It's not a matter of being better at what you do - it's a matter of being different at what you do.

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.

Apple does all of its research and development in America. It has all these brilliant people sitting in Silicon Valley. But until recently, Apple made nothing in America. Zero. And the jobs that were accessible to a good, well-trained worker that knew how to do welding or assembly, none of those jobs had stayed in America. We don't have the workforce.

Companies operating in urban communities have a tremendous ripple effect.