"The company without a strategy is willing to try anything"

This quote by Michael Porter speaks to the significance of having a method in location for a company. Without a strategy, a company is essentially simply attempting things with no clear instructions or function. This can result in a lot of lost time and resources, as the business is not focused on any particular goal or result. It also suggests that the business is not considering any potential risks or chances that might occur from their actions. Without a technique, the business is basically simply shooting in the dark and hoping for the very best. Having a technique in location enables the company to focus their efforts on attaining their preferred objectives and goals, while also knowing possible dangers and chances. A technique likewise permits the business to measure their progress and make adjustments as required. Simply put, having a method in place is important for any company that wants to be successful.