Quote

I think in just about any business the low cost competitor is always going to have an advantage.

A sustaining innovation makes better products that you can sell for better profits to your best customers.

Your innovation can create new winners and losers; or at the very least, make existing companies look fresh and innovative by partnering with you. Everyone wants to align with market makers.

For consumers to benefit from technology, there has to be fair and open competition. Fair and open competition is the only course we know that can lead to meaningful innovation.

Companies have to be innovative in leading with values the same way they have to be innovative in their products and services.

Management innovation is going to be the most enduring source of competitive advantage. There will be lots of rewards for firms in the vanguard.

Most companies don't have the luxury of focusing exclusively on innovation. They have to innovate while stamping out zillions of widgets or processing billions of transactions.

Second, we have to make the most of the strengths we have, the amenities that many of our competitors cannot replicate. But again, those advantages won't mean much if we don't do a great job with the basics of our business.

Since your company is the product that makes all of your other products, it should be the best product of all. When you begin to think of your company this way, you evaluate it differently. You ask different questions about it. You look at improving it constantly, rather than just accepting what it's become.

If we're building high quality companies, if the customers like the products, if the technology innovation is real, then the substance is going to win out in the end.