Michael Porter

Thanks to fellow Mindshopper Mario Vicari, I found a book that takes all of Michael Porter's work and distills it into some practical tips in one book. The book, Understanding Michael Porter: The essential guide to competition and strategy (Magretta, 2012), has a large number of interesting tips, but five stood out to me, in part, because I am currently working on the next step-change strategy for Mindshop. 
The first tip to contemplate is "strategy explains how an organization, faced with competition, will achieve superior performance. The definition is deceptively simple" (Magretta, 2012, p.20). This quote resonates with me due to the focus on performance relative to the competitors. This is a daily measurement that reminds me that we at Mindshop have to have superior performance every day, regardless of what the competitors or markets are doing.
The second tip is "competitive advantage is not about beating rivals; it's about creating unique value for customers. If you have a competitive advantage, it will show up on your P & L" (Magretta, 2012, p.184). This builds on my first thought, that my superior performance may not beat the competitor; this may be due to a multitude of reasons, including that I may want to be a different size to my competitor, or not desire the type of client that they have. The competition is not toe-to-toe, in-the-trenches competition, it is all about superior performance (and values).
The third tip is "strategic competition means choosing a path different from that of others" (Magretta, 2012, p.30). So if you accept that the competitive goal is superior performance, then it makes sense to achieve that performance using methods different to the competitors. I have always done things in a way that others either do not understand, or believe are a good way to operate. Either way I have created a point of difference.
The fourth tip is "the value proposition is the element of strategy that looks outward at customers, at the demand side of the business. The value chain focuses internally on operations. Strategy is fundamentally integrative, bringing the demand and supply sides together" (Magretta, 2012, p.97). What this is saying is that you need to define where you will have superior performance and then back it up with continuously improving the efficiency of your internal operations.
The fifth and final tip is "there is no honor in size or growth if those are profitless. Competition is about profit, not market share" (Magretta, 2012, p.184). This tip serves as a reminder that we need to be the most profitable, not the biggest in top-line revenue or head-count.
Consider these five tips in context of your own organization. What should you do to meet the requirements of all five? Is your current strategy going to work for you in the coming next few years?