429 Sourced quotes
There's a fundamental distinction between strategy and operational effectiveness. Strategy is about making choices, trade-offs; it's about deliberately choosing to be different. Operational effectiveness is about things that you really shouldn't have to make choices on; it's about what's good for everybody and about what every business should be doing.
There is timing in the whole life of the warrior, in his thriving and declining, in his harmony and discord. Similarly, there is timing in the Way of the merchant, in the rise and fall of capital. All things entail rising and falling timing. You must be able to discern this. In strategy there are various timing considerations. From the outset you must know the applicable timing and the inapplicable timing, and from among the large and small things and the fast and slow timings find the relevant timing, first seeing the distance timing and the background timing. This is the main thing in strategy. It is especially important to know the background timing, otherwise your strategy will become uncertain.
It is perfectly clear that a violent revolution on the part of American blacks would find no sympathy and support from the white population and very little from the majority of Negroes themselves. This is no time for romantic illusions and empty philosophical debates about freedom. This is a time for action. What is needed is a strategy for change, a tactical program that will bring the Negro into the mainstream of American life as quickly as possible. So far, this has only been offered by the nonviolent movement. Without recognizing this we will end up with solutions that don't solve, answers that don't answer and explanations that don't explain.
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it. In stating this opinion, we define risk, using dictionary terms, as "the possibility of loss or injury."
One thing we have got to change in our strategy - allowing Office documents to be rendered very well by other peoples browsers is one of the most destructive things we could do to the company. We have to stop putting any effort into this and make sure that Office documents very well depends on PROPRIETARY IE capabilities.
My interest is in making sure we've got the kind of comprehensive energy policy that can bring down gas prices. If, in order to get that passed, we have to compromise in terms of a careful, well-thought out oil strategy that was carefully circumscribed to avoid significant environmental damage. I don't want to be so rigid that we can't get something done.