A stark revelation by Marshall Goldsmith on the uncertainty of the new era and why we all need to think like entrepreneurs. Read We’re All Entrepreneurs.
And while we’re on the subject of entrepreneurs, here’s what Michael Porter has to say about competitive forces. From his book, On Competition:
The structure of an industry is embodied in five competitive forces that collectively determine industry profitability: the power of buyers, the power of suppliers, the threat of new entrants, the threat of substitute products, and the rivalry among existing competitors.
The collective strength of the five forces varies from industry to indstry, as does average profitability. The strength of each of the five forces can also change, either improving or eroding the attractiveness of an industry.
Makes sense doesn’t it; now go watch the video.
