QUOTATION 2
JACK WALSH ON THE NEED FOR A COMPETITIVE ADVANTAGE
Use this to determine whether your business is likely to be successful.
Jack Walsh (b. 1935) was the highly successful CEO of General Electric between 1981 and 2001. He gave the following advice to any entrepreneur or executive thinking of entering a new market or business.
If you don’t have a competitive advantage, don’t compete.
Jack Walsh
Managers are often poor at identifying the competitive strengths and weaknesses in their organisation. Generally, the myopia increases with seniority, but it’s present throughout the organisation. For example, in every SWOT analysis that I’ve ever been involved in, it has been claimed that one of the organisation’s great strengths is ...
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