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| michael e porter what is strategy: Understanding Michael Porter Joan Magretta, 2012 A guide to Michael Porters thinking on competition and strategy, classic and current. |
| michael e porter what is strategy: The Competitive Strategy Michael E. Porter, 2003-12-26 Now nearing its 60th printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world. Electrifying in its simplicity -- like all great breakthroughs -- Porter's analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies -- lowest cost, differentiation, and focus -- which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided. In the almost two decades since publication, Porter's framework for predicting competitor behavior has transformed the way in which companies look at their rivals and has given rise to the new discipline of competitor assessment. More than a million managers in both large and small companies, investment analysts, consultants, students, and scholars throughout the world have internalized Porter's ideas and applied them to assess industries, understand competitors,, and choose competitive positions. The ideas in the book address the underlying fundamentals of competition in a way that is independent of the specifics of the ways companies go about competing. Competitive Strategy has filled a void in management thinking. It provides an enduring foundation and grounding point on which all subsequent work can be built. By bringing a disciplined structure to the question of how firms achieve superior profitability, Porter's rich frameworks and deep insights comprise a sophisticated view of competition unsurpassed in the last quarter-century. |
| michael e porter what is strategy: What is Strategy? Joan Magretta, Heinrich Zimmermann, 2020 This short, entertaining guide explains and demystifies Michael Porter's core strategy concepts with engaging illustrations, a charming and relatable cast of characters, and clear, simple captions. Here you'll find the classic Porter framework - industry structure and the Five Forces, competitive advantage and the value chai - as well as a set of practical tests to apply in evaluating existing strategies or developing new ones. You'll also learn Porter's thinking about critical issues such as scale, goal setting, sustainability, and disruption |
| michael e porter what is strategy: Strategy and Competition: The Porter Collection (3 Items) Michael Porter, Joan Magretta, 2014-08-19 This collection highlights the most important ideas and concepts from Michael E. Porter, recognized worldwide as the leading thinker on strategy. Porter heads The Institute for Strategy and Competitiveness based at Harvard Business School and is the foremost authority on competitive strategy for business, as well as on the competitiveness and economic development of nations, states, and regions. Business readers will recognize Porter’s seminal book, On Competition, as a classic in the field. This set, curated by Harvard Business Review, includes the full digital edition of the updated and expanded edition of On Competition—a must-have for anyone interested in or studying the topic of strategy and for those developing strategy for their own organizations. The collection also includes the digital edition of the popular Understanding Michael Porter: The Essential Guide to Competition and Strategy, which offers a concise, accessible summary of Porter’s revolutionary thinking and was written with Porter’s full cooperation by Joan Magretta, his former editor at Harvard Business Review. Finally, the set features the newer foundational article “Creating Shared Value,” which was published in Harvard Business Review in 2011 to great fanfare and global accolades. This must-have collection is for anyone serious about business, strategy, and competitiveness. |
| michael e porter what is strategy: Competitive Advantage Michael E. Porter, 2008-06-30 Now beyond its eleventh printing and translated into twelve languages, Michael Porter’s The Competitive Advantage of Nations has changed completely our conception of how prosperity is created and sustained in the modern global economy. Porter’s groundbreaking study of international competitiveness has shaped national policy in countries around the world. It has also transformed thinking and action in states, cities, companies, and even entire regions such as Central America. Based on research in ten leading trading nations, The Competitive Advantage of Nations offers the first theory of competitiveness based on the causes of the productivity with which companies compete. Porter shows how traditional comparative advantages such as natural resources and pools of labor have been superseded as sources of prosperity, and how broad macroeconomic accounts of competitiveness are insufficient. The book introduces Porter’s “diamond,” a whole new way to understand the competitive position of a nation (or other locations) in global competition that is now an integral part of international business thinking. Porter's concept of “clusters,” or groups of interconnected firms, suppliers, related industries, and institutions that arise in particular locations, has become a new way for companies and governments to think about economies, assess the competitive advantage of locations, and set public policy. Even before publication of the book, Porter’s theory had guided national reassessments in New Zealand and elsewhere. His ideas and personal involvement have shaped strategy in countries as diverse as the Netherlands, Portugal, Taiwan, Costa Rica, and India, and regions such as Massachusetts, California, and the Basque country. Hundreds of cluster initiatives have flourished throughout the world. In an era of intensifying global competition, this pathbreaking book on the new wealth of nations has become the standard by which all future work must be measured. |
| michael e porter what is strategy: Cases in Competitive Strategy Michael E. Porter, 1983 Though the cases in Cases in Competitive Strategy may be informative when studied on their own, they are designed to be read and analyzed in combination with the companion volume, Competitive Strategy. The conceptual materials and the cases are designed to reinforce each other, showing the connection between the theory and the practice of competitive strategy formulation. |
| michael e porter what is strategy: Playing to Win A.G. Lafley, Roger L. Martin, 2013-02-05 A Wall Street Journal and Washington Post Bestseller A playbook for creating your company's winning strategy. Strategy is not complex. But it is hard. It’s hard because it forces people and organizations to make specific choices about their future—something that doesn’t happen in most companies. Now two of today’s best-known business thinkers get to the heart of strategy—explaining what it’s for, how to think about it, why you need it, and how to get it done. And they use one of the most successful corporate turnarounds of the past century, which they achieved together, to prove their point. A.G. Lafley, former CEO of Procter & Gamble, in close partnership with strategic adviser Roger Martin, doubled P&G’s sales, quadrupled its profits, and increased its market value by more than $100 billion in just ten years. Now, drawn from their years of experience at P&G and the Rotman School of Management, where Martin is dean, this book shows how leaders in organizations of all sizes can guide everyday actions with larger strategic goals built around the clear, essential elements that determine business success—where to play and how to win. The result is a playbook for winning. Lafley and Martin have created a set of five essential strategic choices that, when addressed in an integrated way, will move you ahead of your competitors. They are: • What is our winning aspiration? • Where will we play? • How will we win? • What capabilities must we have in place to win? • What management systems are required to support our choices? The stories of how P&G repeatedly won by applying this method to iconic brands such as Olay, Bounty, Gillette, Swiffer, and Febreze clearly illustrate how deciding on a strategic approach—and then making the right choices to support it—makes the difference between just playing the game and actually winning. |
| michael e porter what is strategy: On Competition Michael E. Porter, 2008-10-01 For the past two decades, Michael Porter's work has towered over the field of competitive strategy. On Competition, Updated and Expanded Edition brings together more than a dozen of Porter's landmark articles from the Harvard Business Review. Five are new to this edition, including the 2008 update to his classic The Five Competitive Forces That Shape Strategy, as well as new work on health care, philanthropy, corporate social responsibility, and CEO leadership. This collection captures Porter's unique ability to bridge theory and practice. Each of the articles has not only shaped thinking, but also redefined the work of practitioners in its respective field. In an insightful new introduction, Porter relates each article to the whole of his thinking about competition and value creation, and traces how that thinking has deepened over time. This collection is organized by topic, allowing the reader easy access to the wide range of Porter's work. Parts I and II present the frameworks for which Porter is best known—frameworks that address how companies, as well as nations and regions, gain and sustain competitive advantage. Part III shows how strategic thinking can address society's most pressing challenges, from environmental sustainability to improving health-care delivery. Part IV explores how both nonprofits and corporations can create value for society more effectively by applying strategy principles to philanthropy. Part V explores the link between strategy and leadership. |
| michael e porter what is strategy: Good Strategy Bad Strategy Richard Rumelt, 2011-07-19 Good Strategy/Bad Strategy clarifies the muddled thinking underlying too many strategies and provides a clear way to create and implement a powerful action-oriented strategy for the real world. Developing and implementing a strategy is the central task of a leader. A good strategy is a specific and coherent response to—and approach for—overcoming the obstacles to progress. A good strategy works by harnessing and applying power where it will have the greatest effect. Yet, Rumelt shows that there has been a growing and unfortunate tendency to equate Mom-and-apple-pie values, fluffy packages of buzzwords, motivational slogans, and financial goals with “strategy.” In Good Strategy/Bad Strategy, he debunks these elements of “bad strategy” and awakens an understanding of the power of a “good strategy.” He introduces nine sources of power—ranging from using leverage to effectively focusing on growth—that are eye-opening yet pragmatic tools that can easily be put to work on Monday morning, and uses fascinating examples from business, nonprofit, and military affairs to bring its original and pragmatic ideas to life. The detailed examples range from Apple to General Motors, from the two Iraq wars to Afghanistan, from a small local market to Wal-Mart, from Nvidia to Silicon Graphics, from the Getty Trust to the Los Angeles Unified School District, from Cisco Systems to Paccar, and from Global Crossing to the 2007–08 financial crisis. Reflecting an astonishing grasp and integration of economics, finance, technology, history, and the brilliance and foibles of the human character, Good Strategy/Bad Strategy stems from Rumelt’s decades of digging beyond the superficial to address hard questions with honesty and integrity. |
| michael e porter what is strategy: Slow Brooke McAlary, 2017-08-23 From the creator of the award-winning Slow Home podcast comes Slow the perfect companion on the long road to living a simpler and more fulfilled life. 'Dear Mr & Mrs Jones, I am writing to inform you of my withdrawal from the race to keep up with you . . .' Once upon a time, Brooke McAlary thought she was close to having it all. Married to a wonderful man, mother to a lively young daughter, and pregnant for a second time, she'd acquired all the things she'd once thought important - holidays, cars, a renovated home. Yet despite this, she found herself utterly despondent. Realising that they wanted a simpler, more fulfilling existence, Brooke and her family gradually created their own way of living, with an emphasis on depth, connection and experiences. In Slow Brooke gently encourages you to find pleasure and value in a simpler life, sharing the practical tips and rituals that have helped her on her own journey, from decluttering to de-owning, messiness to mindfulness, from asking why to asking where to now? Part memoir, part practical companion, Slow provides a fascinating insight into the benefits of slowing down. It will inspire you to forget about the Joneses and create a life filled with the things that really matter to you . . . slowly, of course. |
| michael e porter what is strategy: Strategy Harvard Business Review, 2005-06-16 Strategic execution drives business success. This book covers strategy from the ground up, explaining what strategy is, how to put together a strategic plan, what tools and resources are necessary to execute it, and how to measure results. The Harvard Business Essentials series is designed to provide comprehensive advice, personal coaching, background information, and guidance on the most relevant topics in business. Whether you are a new manager seeking to expand your skills or a seasoned professional looking to broaden your knowledge base, these solution-oriented books put reliable answers at your fingertips. |
| michael e porter what is strategy: The Politics Industry Katherine M. Gehl, Michael E. Porter, 2020-06-23 Leading political innovation activist Katherine Gehl and world-renowned business strategist Michael Porter bring fresh perspective, deep scholarship, and a real and actionable solution, Final Five Voting, to the grand challenge of our broken political and democratic system. Final Five Voting has already been adopted in Alaska and is being advanced in states across the country. The truth is, the American political system is working exactly how it is designed to work, and it isn't designed or optimized today to work for us—for ordinary citizens. Most people believe that our political system is a public institution with high-minded principles and impartial rules derived from the Constitution. In reality, it has become a private industry dominated by a textbook duopoly—the Democrats and the Republicans—and plagued and perverted by unhealthy competition between the players. Tragically, it has therefore become incapable of delivering solutions to America's key economic and social challenges. In fact, there's virtually no connection between our political leaders solving problems and getting reelected. In The Politics Industry, business leader and path-breaking political innovator Katherine Gehl and world-renowned business strategist Michael Porter take a radical new approach. They ingeniously apply the tools of business analysis—and Porter's distinctive Five Forces framework—to show how the political system functions just as every other competitive industry does, and how the duopoly has led to the devastating outcomes we see today. Using this competition lens, Gehl and Porter identify the most powerful lever for change—a strategy comprised of a clear set of choices in two key areas: how our elections work and how we make our laws. Their bracing assessment and practical recommendations cut through the endless debate about various proposed fixes, such as term limits and campaign finance reform. The result: true political innovation. The Politics Industry is an original and completely nonpartisan guide that will open your eyes to the true dynamics and profound challenges of the American political system and provide real solutions for reshaping the system for the benefit of all. THE INSTITUTE FOR POLITICAL INNOVATION The authors will donate all royalties from the sale of this book to the Institute for Political Innovation. |
| michael e porter what is strategy: Competitive Strategy Michael E. Porter, 1998 In this pathbreaking book, Michael E. Porter unravels the rules that govern competition and turns them into powerful analytical tools to help management interpret market signals and forecast the direction of industry development. |
| michael e porter what is strategy: HBR's 10 Must Reads 2020 Harvard Business Review, Michael E. Porter, Nitin Nohria, Katrina Lake, Paul R. Daugherty, 2019-10-01 A year's worth of management wisdom, all in one place. We've reviewed the ideas, insights, and best practices from the past year of Harvard Business Review to keep you up-to-date on the most cutting-edge, influential thinking driving business today. With authors from Michael E. Porter to Katrina Lake and company examples from Alibaba to 3M, this volume brings the most current and important management conversations right to your fingertips. This book will inspire you to: Ask better questions to boost your learning, persuade others, and negotiate more effectively Create workplace conditions where gender equity can thrive Boost results by allowing humans and AI to enhance one another's strengths Make better connections with your customers by giving them a glimpse inside your company Scale your agile processes from a few teams to hundreds Build a commitment to both economic and social values in your organization Prepare your company for a rapidly aging workforce and society This collection of articles includes The Surprising Power of Questions, by Alison Wood Brooks and Leslie K. John; Strategy Needs Creativity, by Adam Brandenburger; What Most People Get Wrong about Men and Women, by Catherine H. Tinsley and Robin J. Ely; Collaborative Intelligence: Humans and AI Are Joining Forces, by H. James Wilson and Paul R. Daugherty; Stitch Fix's CEO on Selling Personal Style to the Mass Market, by Katrina Lake; Strategy for Start-Ups, by Joshua Gans, Erin L. Scott, and Scott Stern; Agile at Scale, by Darrell K. Rigby, Jeff Sutherland, and Andy Noble; Operational Transparency, by Ryan W. Buell; The Dual-Purpose Playbook, by Julie Battilana, Anne-Claire Pache, Metin Sengul, and Marissa Kimsey; How CEOs Manage Time, by Michael E. Porter and Nitin Nohria; and When No One Retires, by Paul Irving. |
| michael e porter what is strategy: Strategic Management (color) , 2020-08-18 Strategic Management (2020) is a 325-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today's firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses. |
| michael e porter what is strategy: HBR's 10 Must Reads on Leadership 2-Volume Collection Harvard Business Review, 2020-04-07 If you read nothing else on leadership, read these definitive articles from Harvard Business Review. Leadership skills are not innate--they can be acquired and honed. HBR's 10 Must Reads on Leadership 2-Volume Collection provides enduring ideas and practical advice on how to harness inspiring, transformational leadership qualities and spearhead change. Bringing together HBR's 10 Must Reads on Leadership, Vol. 1 and HBR's 10 Must Reads on Leadership, Vol. 2, this collection includes twenty articles selected by HBR's editors and features the indispensable article What Makes an Effective Executive by Peter F. Drucker. From timeless classics to the latest game-changing ideas from thought leaders Jim Collins, Daniel Goleman, John Kotter, and more, HBR's 10 Must Reads on Leadership 2-Volume Collection will inspire you to: Identify areas for personal growth Develop a more dynamic and sophisticated communication style Transform yourself from a problem solver to an agenda setter Embrace the challenges of adaptive work Draw strength from adversity Build trust with and among your fellow employees Inspire others to give their all HBR's 10 Must Reads paperback series is the definitive collection of books for new and experienced leaders alike. Leaders looking for the inspiration that big ideas provide, both to accelerate their own growth and that of their companies, should look no further. HBR's 10 Must Reads series focuses on the core topics that every ambitious manager needs to know: leadership, strategy, change, managing people, and managing yourself. Harvard Business Review has sorted through hundreds of articles and selected only the most essential reading on each topic. Each title includes timeless advice that will be relevant regardless of an ever‐changing business environment. |
| michael e porter what is strategy: Readings in Strategic Management Cliff Bowman, David C. Asch, 1989-11-01 A collection which is part of the Open University integrated teaching system, this book is designed to evoke the critical understanding of students. There are readings covering the strategic management process, strategy formulation and managing strategic change. |
| michael e porter what is strategy: Wharton on Dynamic Competitive Strategy George S. Day, David J. Reibstein, 2004-08-13 WHARTON on DYNAMIC COMPETITIVE STRATEGY A valuable contribution, this insightful book makes it clear that strategy is not a one-time search for a sustainable competitive advantage, but a continuous monitoring of the environment, consumers, and competitors with the object of making the right moves in a dynamically changing competitive landscape. -Philip Kotler S.C. Johnson & Sons Distinguished Professor of International Marketing J. L. Kellogg Graduate School of Management Northwestern University. An ambitious and welcomed effort at addressing strategy from an interdisciplinary perspective. -Professor Don Lehmann Columbia University Graduate School of Business. Wharton on Dynamic Competitive Strategy weaves together an unprecedented interdisciplinary analysis of competitive strategies that any global manager should consider indispensable reading...An impressive book. -Jon M. Huntsman, Sr. Chairman and CEO Huntsman Corporation. Provocative and meaningful . . . Provides an excellent framework for formulating strategy. -Sam Morasca Vice President, Marketing Shell Oil Products Company. A Rosetta stone for strategy. Read it and keep it by your side! -Dale Moss Executive Vice President, Sales and Marketing USA British Airways, New York The competitive challenges facing you are more complex and fast-moving than ever. This environment demands dynamic competitive strategies-strategies that anticipate and adjust to competitors' countermoves, shifting customer demands, and changes in the business world. Wharton on Dynamic Competitive Strategy offers new perspectives on competitive strategy from a distinguished group of faculty at Wharton and other leading business schools around the world. This book presents the best insights from decades of research in key areas such as competitive strategy, simulations, game theory, scenario planning, public policy, and market-driven strategy. It represents the most cohesive collection of insights on strategy ever assembled by a leading school of business. Developed for the thinking manager, Wharton on Dynamic Competitive Strategy provides deep insights into the true dynamics of competition. In contrast to popular, quick-fix formulas for strategic success, this book provides perspectives that will help you better understand the underlying dynamics of competitive interactions and make better strategic decisions in a rapidly changing and uncertain world. The insights and approaches presented here are illustrated with real-world examples which demonstrate how these approaches can be applied to your strategic challenges. These chapters will help you better address key strategic issues such as: * Anticipating competitors' responses using game theory, simulations, scenario planning, conjoint analysis, and other tools-and designing the best strategy in light of these expected responses * Planning for multiple rounds of competition in the way that chess players think through multiple moves * Understanding how changes in technology and public policy or moves by competitors can undermine your current advantages or neutralize future advantages * Broadening your range of options for reacting to moves by competitors * Signaling and preempting rivals. This groundbreaking new book will change your view of strategy and give you the tools you need to succeed in a dynamic and intensely challenging world. |
| michael e porter what is strategy: Information Systems Management in the Big Data Era Peter Lake, Robert Drake, 2015-01-12 This timely text/reference explores the business and technical issues involved in the management of information systems in the era of big data and beyond. Topics and features: presents review questions and discussion topics in each chapter for classroom group work and individual research assignments; discusses the potential use of a variety of big data tools and techniques in a business environment, explaining how these can fit within an information systems strategy; reviews existing theories and practices in information systems, and explores their continued relevance in the era of big data; describes the key technologies involved in information systems in general and big data in particular, placing these technologies in an historic context; suggests areas for further research in this fast moving domain; equips readers with an understanding of the important aspects of a data scientist’s job; provides hands-on experience to further assist in the understanding of the technologies involved. |
| michael e porter what is strategy: No Bullsh!t Leadership Martin G. Moore, 2021-09-28 Fine-tune your leadership skills, solidify respect among your workforce, and ensure your company’s lasting success with tools from a winning CEO. When Martin G. Moore was asked to rescue a leading energy corporation from ever-increasing debt and a lack of executive accountability, he faced an uphill battle. Not only had he never before stepped into the role of CEO; he also had no experience in the rapidly evolving energy sector. Relying on the practical leadership principles he had honed throughout his thirty-three-year career, he overhauled the company’s culture, redefined its leadership capability, and increased earnings by a compound annual growth rate of 125 percent. In No Bullsh!t Leadership, Moore outlines these proven leadership principles in a clear, direct way. He sweeps away the mystical fog surrounding leadership today and lays out the essential steps for success. Moore combines this tangible advice with honest, real-world examples from his own career to provide a no-nonsense look at the skills a true leader possesses. Moore’s principles for no bullshit leadership focus on: · Creating value by focusing only on the things that matter most · Facing conflict, adversity, and ambiguity with decisiveness and confidence · Setting uncompromising standards for behavior and performance · Selecting and developing great people · Making those people accountable, and empowering them to do their best · Setting simple, value-driven goals and communicating them relentlessly Though the steps aren’t easy, they are guaranteed, if implemented, to lift your leadership—and your organization—to a higher level. Wherever you are in your career, No Bullsh!t Leadership will help you develop the skills and form the habits needed to become a no bullshit leader. |
| michael e porter what is strategy: Rethinking Strategy Henk W Volberda, Tom Elfring, 2001-01-09 `Readers interest in an overview of important aspects of the strategy field will find this book a helpful volume to add to their shelves′ - Administrative Sciences Quarterly This is a new overview of the strategy field, with internationally renowned contributors summarizing the latest directions and developments in strategic management theory in the context of their theoretical roots in economics, organization theory, and systems theory. The contributors outline the most promising new directions on the basis of a systemic treatment of paradigms or schools of thought in strategy: redrawing firm boundaries, developing dynamic capabilities and discovering viable strategy configurations. The volume will be an invaluable companion to advanced courses in strategy and management, used as a reader alongside case material and field studies. As well as providing a summary and evaluation of the different schools of thought in strategy, the volume offers a synthesis of the American and European approaches. |
| michael e porter what is strategy: Competition, Competitive Advantage, and Clusters Robert Huggins, Hiro Izushi, 2012-09-20 Harvard professor, Michael Porter has been one of the most influential figures in strategic management research over the last three decades. He infused a rigorous theoretical framework of industrial organization economics with the then still embryonic field of strategic management and elevated it to its current status as an academic discipline. Porter's outstanding career is also characterized by its cross-disciplinary nature. Following his most important work on strategic management, he then made a leap to the policy side and dealt with a completely different set of analytical units. More recently he has made a foray into inner city development, environmental regulations, and health care services. Throughout these explorations Porter has maintained his integrative approach, seeking a road that links management case studies and the general model building of mainstream economics. With expert contributors from a range of disciplines including strategic management, economic development, economic geography, and planning, this book assesses the contribution Michael Porter has made to these respective disciplines. It clarifies the sources of tension and controversy relating to all the major strands of Porter's work, and provides academics, students, and practitioners with a critical guide for the application of Porter's models. The book highlights that while many of the criticisms of Porter's ideas are valid, they are almost an inevitable outcome for a scholar who has sought to build bridges across wide disciplinary valleys. His work has provided others with a set of frameworks to explore in more depth the nature of competition, competitive advantage, and clusters from a range of vantage points. |
| michael e porter what is strategy: The Strategy-focused Organization Robert S. Kaplan, David P. Norton, 2001 In today's business environment, strategy has never been more important. Yet research shows that most companies fail to execute strategy successfully. Behind this abysmal track record lies an undeniable fact: many companies continue to use management processes-top-down, financially driven, and tactical-that were designed to run yesterday's organizations. Now, the creators of the revolutionary performance management tool called the Balanced Scorecard introduce a new approach that makes strategy a continuous process owned not just by top management, but by everyone. In The Strategy-Focused Organization, Robert Kaplan and David Norton share the results of ten years of learning and research into more than 200 companies that have implemented the Balanced Scorecard. Drawing from more than twenty in-depth case studies-including Mobil, CIGNA, Nova Scotia Power, and AT T Canada-Kaplan and Norton illustrate how Balanced Scorecard adopters have taken their groundbreaking tool to the next level. These organizations have used the scorecard to create an entirely new performance management framework that puts strategy at the center of key management processes and systems. Kaplan and Norton articulate the five key principles required for building Strategy-Focused Organizations: (1) translate the strategy to operational terms, (2) align the organization to the strategy, (3) make strategy everyone's everyday job, (4) make strategy a continual process, and (5) mobilize change through strong, effective leadership. The authors provide a detailed account of how a range of organizations in the private, public, and nonprofit sectors have deployed these principles to achieve breakthrough, sustainable performance improvements. Presenting a practical, proven framework steeped in rich case study experience, The Strategy-Focused Organization helps solve a universal management problem-not just how to formulate strategy, but how to make it work. Building on one of the most revolutionary business ideas of our time, this important book shows how today's leaders can shape their own companies to meet the challenges and reap the rewards of a new competitive era. Robert S. Kaplan is the Marvin Bower Professor of Leadership Development at Harvard Business School. David P. Norton is President of Balanced Scorecard Collaborative, Inc. |
| michael e porter what is strategy: An Analysis of Michael E. Porter's Competitive Strategy Pádraig Belton, 2017-07-05 First published in 1980, Competitive Strategy contradicted the accepted wisdom of the time that said firms should focus on expanding their market share. Instead, Porter claimed, they should analyze the five forces that mold the environment in which they compete: new entrants, substitute products, buyers, suppliers, and industry rivals. |
| michael e porter what is strategy: Summary of "Competitive Strategy: Techniques for Analyzing Industries and Competitors" by M.E. Porter Friederike Berg, 2020-01-07 Literature Review from the year 2018 in the subject Economics - International Economic Relations, grade: 4.0, Harris University (Harrisburg University of Science & Technology), language: English, abstract: The book Competitive strategy: techniques for analyzing industries and competitors: with a new introduction by Michael E. Porter (New York: Free Press, c1980. 396pp.) is the epitome of competitive strategies. The author explains the dynamism of competition within the industry. Furthermore, he developed analyzing tools step by step to examine a branch on the basis of practical examples. The author, Michael E. Porter, was born in 1947 and is a professor at the Harvard Business School where he has the Institute for Strategy and Competitiveness. |
| michael e porter what is strategy: Certain to Win Chet Richards, 2004-06-24 The book is both an excellent primer for those new to Boyd and a catalyst to those with business experience trying to internalize the relevance of Boyd ́s thinking. Chuck Leader, LtCol USMC (Ret.) and information technology company CEO; A Winning Combination, Marine Corps Gazette, March 2005. Certain to Win [Sun Tzu ́s prognosis for generals who follow his advice] develops the strategy of the late US Air Force Colonel John R. Boyd for the world of business. The success of Robert Coram’s monumental biography, Boyd, the Fighter Pilot Who Changed the Art of War, rekindled interest in this obscure pilot and documented his influence on military matters ranging from his early work on fighter tactics to the USMC ́s maneuver warfare doctrine to the planning for Operation Desert Storm. Unfortunately Boyd’s written legacy, consisting of a single paper and a four-set cycle of briefings, addresses strategy only in war. [All of Boyd ́s briefings are available on Slightly East of New.] Boyd and Business Boyd did study business. He read everything he could find on the Toyota Production System and came to consider it as an implementation of ideas similar to his own. He took business into account when he formulated the final version of his “OODA loop” and in his last major briefing, Conceptual Spiral, on science and technology. He read and commented on early drafts of this manuscript, but he never wrote on how business could operate more profitably by using his ideas. Other writers and business strategists have taken up the challenge, introducing Boyd’s concepts and suggesting applications to business. Keith Hammonds, in the magazine Fast Company, George Stalk and Tom Hout in Competing Against Time, and Tom Peters most recently in Re-imagine! have described the OODA loop and its effects on competitors. They made significant contributions. Successful businesses, though, don’t concentrate on affecting competitors but on enticing customers. You could apply Boyd all you wanted to competitors, but unless this somehow caused customers to buy your products and services, you’ve wasted time and money. If this were all there were to Boyd, he would rate at most a sidebar in business strategy. Business is not War Part of the problem has been Boyd’s focus on war, where “affecting competitors” is the whole idea. Armed conflict was his life for nearly 50 years, first as a fighter pilot, then as a tactician and an instructor of fighter pilots, and after his retirement, as a military philosopher. Coram describes (and I know from personal experience) how his quest consumed Boyd virtually every waking hour. It was not a monastic existence, though, since John was above everything else a competitor and loved to argue over beer and cigars far into the night. During most of the 1970s and 80s he worked at the Pentagon, where he could share ideas and debate with other strategists and practitioners of the art of war. The result was the remarkable synthesis we know as Patterns of Conflict. Website |
| michael e porter what is strategy: HBR's 10 Must Reads on AI, Analytics, and the New Machine Age (with bonus article "Why Every Company Needs an Augmented Reality Strategy" by Michael E. Porter and James E. Heppelmann) Harvard Business Review, Michael E. Porter, Thomas H. Davenport, Paul Daugherty, H. James Wilson, 2018-12-24 Intelligent machines are revolutionizing business. Machine learning and data analytics are powering a wave of groundbreaking technologies. Is your company ready? If you read nothing else on how intelligent machines are revolutionizing business, read these 10 articles. We've combed through hundreds of Harvard Business Review articles and selected the most important ones to help you understand how these technologies work together, how to adopt them, and why your strategy can't ignore them. In this book you'll learn how: Data science, driven by artificial intelligence and machine learning, is yielding unprecedented business insights Blockchain has the potential to restructure the economy Drones and driverless vehicles are becoming essential tools 3-D printing is making new business models possible Augmented reality is transforming retail and manufacturing Smart speakers are redefining the rules of marketing Humans and machines are working together to reach new levels of productivity This collection of articles includes Artificial Intelligence for the Real World, by Thomas H. Davenport and Rajeev Ronanki; Stitch Fix's CEO on Selling Personal Style to the Mass Market, by Katrina Lake; Algorithms Need Managers, Too, by Michael Luca, Jon Kleinberg, and Sendhil Mullainathan; Marketing in the Age of Alexa, by Niraj Dawar; Why Every Organization Needs an Augmented Reality Strategy, by Michael E. Porter and James E. Heppelmann; Drones Go to Work, by Chris Anderson; The Truth About Blockchain, by Marco Iansiti and Karim R. Lakhani; The 3-D Printing Playbook, by Richard A. D’Aveni; Collaborative Intelligence: Humans and AI Are Joining Forces, by H. James Wilson and Paul R. Daugherty; When Your Boss Wears Metal Pants, by Walter Frick; and Managing Our Hub Economy, by Marco Iansiti and Karim R. Lakhani. |
| michael e porter what is strategy: Execution Larry Bossidy, Ram Charan, Charles Burck, 2009-11-10 #1 NEW YORK TIMES BESTSELLER • More than two million copies in print! The premier resource for how to deliver results in an uncertain world, whether you’re running an entire company or in your first management job. “A must-read for anyone who cares about business.”—The New York Times When Execution was first published, it changed the way we did our jobs by focusing on the critical importance of “the discipline of execution”: the ability to make the final leap to success by actually getting things done. Larry Bossidy and Ram Charan now reframe their empowering message for a world in which the old rules have been shattered, radical change is becoming routine, and the ability to execute is more important than ever. Now and for the foreseeable future: • Growth will be slower. But the company that executes well will have the confidence, speed, and resources to move fast as new opportunities emerge. • Competition will be fiercer, with companies searching for any possible advantage in every area from products and technologies to location and management. • Governments will take on new roles in their national economies, some as partners to business, others imposing constraints. Companies that execute well will be more attractive to government entities as partners and suppliers and better prepared to adapt to a new wave of regulation. • Risk management will become a top priority for every leader. Execution gives you an edge in detecting new internal and external threats and in weathering crises that can never be fully predicted. Execution shows how to link together people, strategy, and operations, the three core processes of every business. Leading these processes is the real job of running a business, not formulating a “vision” and leaving the work of carrying it out to others. Bossidy and Charan show the importance of being deeply and passionately engaged in an organization and why robust dialogues about people, strategy, and operations result in a business based on intellectual honesty and realism. With paradigmatic case histories from the real world—including examples like the diverging paths taken by Jamie Dimon at JPMorgan Chase and Charles Prince at Citigroup—Execution provides the realistic and hard-nosed approach to business success that could come only from authors as accomplished and insightful as Bossidy and Charan. |
| michael e porter what is strategy: Competitive Strategy Michael E. Porter, 2008-06-30 Now nearing its sixtieth printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world. Electrifying in its simplicity—like all great breakthroughs—Porter’s analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies—lowest cost, differentiation, and focus—which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided. In the almost two decades since publication, Porter's framework for predicting competitor behavior has transformed the way in which companies look at their rivals and has given rise to the new discipline of competitor assessment. More than a million managers in both large and small companies, investment analysts, consultants, students, and scholars throughout the world have internalized Porter's ideas and applied them to assess industries, understand competitors, and choose competitive positions. The ideas in the book address the underlying fundamentals of competition in a way that is independent of the specifics of the ways companies go about competing. Competitive Strategy has filled a void in management thinking. It provides an enduring foundation and grounding point on which all subsequent work can be built. By bringing a disciplined structure to the question of how firms achieve superior profitability, Porter’s rich frameworks and deep insights comprise a sophisticated view of competition unsurpassed in the last quarter-century. |
| michael e porter what is strategy: Science, Strategy and War Frans P.B. Osinga, 2007-01-24 John Boyd is often known exclusively for the so-called ‘OODA’ loop model he developed. This model refers to a decision-making process and to the idea that military victory goes to the side that can complete the cycle from observation to action the fastest. This book aims to redress this state of affairs and re-examines John Boyd’s original contribution to strategic theory. By highlighting diverse sources that shaped Boyd’s thinking, and by offering a comprehensive overview of Boyd’s work, this volume demonstrates that the common interpretation of the meaning of Boyd’s OODA loop concept is incomplete. It also shows that Boyd’s work is much more comprehensive, richer and deeper than is generally thought. With his ideas featuring in the literature on Network Centric Warfare, a key element of the US and NATO’s so-called ‘military transformation’ programmes, as well as in the debate on Fourth Generation Warfare, Boyd continues to exert a strong influence on Western military thinking. Dr Osinga demonstrates how Boyd’s work can helps us to understand the new strategic threats in the post- 9/11 world, and establishes why John Boyd should be regarded as one of the most important (post)modern strategic theorists. |
| michael e porter what is strategy: Value Nets David Bovet, Joseph Martha, Mercer Management Consulting, 2000-05-24 Value nets are digital powerhouses that fuel business results.-From the Foreword by Adrian Slywotzky If you have ever ordered a computer over the Internet and been amazed that a product built to your exact specifications could arrive at your door within days, or if your business's competition is suddenly gaining share by delivering custom-designed merchandise faster and more reliably than you can, you need to read Value Nets. Enlightened managers around the world are learning that the supply chain can be a bountiful source of profitable growth, increased market share, and shareholder value. Value Nets: Breaking the Supply Chain to Unlock Hidden Profits shows you how to release the value hidden in supply chain operations through new digital networked solutions. Value Nets introduces you to a new form of business design built around superb supply chain performance in the e-commerce world. This design enables any company to do far more with the supply chain than simply control costs. It provides a basis for true differentiation in the marketplace and gives you the power to deliver first-rate service and customized products to customers in ways that delight them and keep them coming back for more. Using numerous powerful case studies and examples from companies that have adopted value net design-Gateway, Cisco Systems, Cemex, Biogen, Zara, and dozens more-the authors demonstrate how value nets bridge the gap between the executive culture of strategy and business reinvention and the operational world of procurement, manufacturing, and logistics. They introduce the new concept of value nets and offer compelling evidence of their outstanding results. They also explain the five elements of value net creation, supplying specific examples from companies that have built value nets and showing how the new design helped these companies achieve superior profitability and customer satisfaction. Complete with an appendix that helps you think through the applicability of value nets to your company, Value Nets delivers everything you need to understand and implement this remarkable new business design. It captures the creativity of today's most effective business model and puts its power where it will do the most good-right in the palm of your hand. As one of the world's premier corporate strategy firms, MERCER MANAGEMENT CONSULTING helps leading enterprises achieve sustained shareholder value growth through the development and implementation of customer-focused business designs. Mercer's thought leadership on the topic of value growth is evident in four agenda-setting books published in the past four years: Profit Patterns, The Profit Zone, Value Migration, and Grow to Be Great. The firm serves clients from twenty offices in the Americas, Europe, and Asia.Value Nets exposes the supply chain for what it really is--a strategic differentiator. Reading about the success of Apple Computer, Zara, et al., will convince you that the time to take action is now!-H. Lee Scott, President and CEO, Wal-Mart Stores, Inc. Our experience is proof that the ideas presented in Value Nets work. Agile, networked operations help us deliver superb service to our customers and drive shareholder value as well.-James Mullen, President and COO, Biogen, Inc. Value Nets takes supply chain management to the next frontier. CEOs will find it extremely helpful in their quest to provide better service and reduce cost by meeting unique customer requirements.-William Gus Pagonis, Retired Lt. Gen., U.S. Army Executive Vice President of Logistics, Sears, Roebuck and Company Value Nets brings new concepts and a road map for competitive advantage to businesses in Latin America and other global markets where traditional supply chain thinking controls business design.-Julio A. Barea, President and CEO, Sara Lee Branded Apparel, Latin America Group |
| michael e porter what is strategy: HBR's 10 Must Reads on Leadership, Vol. 2 (with bonus article "The Focused Leader" By Daniel Goleman) Harvard Business Review, Daniel Goleman, Michael D. Watkins, Herminia Ibarra, Michael E. Porter, 2020-03-24 Stay on top of your leadership game. Leadership isn't something you're born with or gifted as a reward for an abundance of charisma; true leadership stems from core skills that can be learned. Get more of the leadership ideas you want, from the authors you trust, with HBR's 10 Must Reads on Leadership (Vol. 2). We’ve combed through hundreds of Harvard Business Review articles and selected the most important ones to help you maximize your own and your organization's performance. With insights from leading experts including Michael D. Watkins, Herminia Ibarra, and Michael E. Porter, this book will inspire you to: Identify areas for personal growth Build trust with and among your employees Develop a more dynamic and sophisticated communication style Try out different leadership styles and behaviors to find the right approach for you--and your organization Transform yourself from a problem solver to an agenda setter Harness the power of connections Become an adaptive and strategic leader This collection of articles includes Leadership Is a Conversation, by Boris Groysberg and Michael Slind; How Managers Become Leaders: The Seven Seismic Shifts of Perspective and Responsibility, by Michael D. Watkins; Strategic Leadership: The Essential Skills, by Paul J.H. Schoemaker, Steve Krupp, and Samantha Howland; The Authenticity Paradox, by Herminia Ibarra; 'Both/And' Leadership, by Wendy K. Smith, Marianne W. Lewis, and Michael L. Tushman; Are You a Collaborative Leader? by Herminia Ibarra and Morten T. Hansen; Cross-Silo Leadership, by Tiziana Casciaro, Amy C. Edmondson, and Sujin Jang; How CEOs Manage Time, by Michael E. Porter and Nitin Nohria; The Best Leaders Are Great Teachers, by Sydney Finkelstein; Nimble Leadership, by Deborah Ancona, Elaine Backman, and Kate Isaacs; and The Focused Leader, by Daniel Goleman. |
| michael e porter what is strategy: Competitive Advantage Michael E. Porter, 2004-01-01 Now beyond its eleventh printing and translated into twelve languages, Michael Porter’s The Competitive Advantage of Nations has changed completely our conception of how prosperity is created and sustained in the modern global economy. Porter’s groundbreaking study of international competitiveness has shaped national policy in countries around the world. It has also transformed thinking and action in states, cities, companies, and even entire regions such as Central America. Based on research in ten leading trading nations, The Competitive Advantage of Nations offers the first theory of competitiveness based on the causes of the productivity with which companies compete. Porter shows how traditional comparative advantages such as natural resources and pools of labor have been superseded as sources of prosperity, and how broad macroeconomic accounts of competitiveness are insufficient. The book introduces Porter’s “diamond,” a whole new way to understand the competitive position of a nation (or other locations) in global competition that is now an integral part of international business thinking. Porter's concept of “clusters,” or groups of interconnected firms, suppliers, related industries, and institutions that arise in particular locations, has become a new way for companies and governments to think about economies, assess the competitive advantage of locations, and set public policy. Even before publication of the book, Porter’s theory had guided national reassessments in New Zealand and elsewhere. His ideas and personal involvement have shaped strategy in countries as diverse as the Netherlands, Portugal, Taiwan, Costa Rica, and India, and regions such as Massachusetts, California, and the Basque country. Hundreds of cluster initiatives have flourished throughout the world. In an era of intensifying global competition, this pathbreaking book on the new wealth of nations has become the standard by which all future work must be measured. |
| michael e porter what is strategy: Mastering Strategy Michael R. Braun, Scott F. Latham, 2014-01-27 Fun to read yet full of powerful business information, this guide provides a comprehensive toolkit for crafting winning strategies in today's competitive environment. Mastering Strategy: Workshops for Business Success uses a series of workshops to strip away confusion and present popular and proven strategy frameworks in an easy-to-understand, straightforward, and entertaining manner. Using everyday language that avoids jargon, the workshops in this comprehensive toolkit help readers identify the competitive patterns of any industry, understand any company's competitive position in its market, formulate a set of strategic solutions for a company, and recognize the risk-return trade-offs of those strategic solutions. The authors cover introductory competitive strategy concepts while also providing guidance for business people intent on taking their strategic thinking skills to the next level. From business professionals seeking to quickly grasp and employ strategy essentials, to would-be entrepreneurs sizing up the potential of their business opportunity, to scientists pursuing commercialization of their inventions, this book is the ideal resource to make each a more effective strategic thinker. |
| michael e porter what is strategy: Cooperative Strategies and Alliances Farok J. Contractor, Peter Lorange, 2002-09-20 Reflects the current state-of-the-art research in the alliance field. It is based on thirty-six papers contributed by leading academics at a conference hosted by Professors Contractor and Lorange at IMD, Switzerland. A follow-up to the original conference this book reflects the latest thinking within this field. While the papers have an academic tone, they abound with practical insights and recommendations for alliance practice. Cooperative Strategies in International Business contains papers presented at a conference fifteen years ago hosted by Professors Contractor and Lorange and held at Rutgers University, USA. The book, had a strong impact on the field of international management and strategy, and presaged the explosive growth of alliances over the last decade. It remains today a landmark reference volume, and its papers are still widely read and referenced in companies, MBA and doctoral programs in Business Management worldwide. Together both books provide an indispensible set for academics, policy makers, consultants and strategists involved in strategic alliances. |
| michael e porter what is strategy: Creating Competitive Advantage Jaynie L. Smith, William G. Flanagan, 2006-04-25 Why should I do business with you… and not your competitor? Whether you are a retailer, manufacturer, distributor, or service provider – if you cannot answer this question, you are surely losing customers, clients and market share. This eye-opening book reveals how identifying your competitive advantages (and trumpeting them to the marketplace) is the most surefire way to close deals, retain clients, and stay miles ahead of the competition. The five fatal flaws of most companies: • They don’t have a competitive advantage but think they do • They have a competitive advantage but don’t know what it is—so they lower prices instead • They know what their competitive advantage is but neglect to tell clients about it • They mistake “strengths” for competitive advantages • They don’t concentrate on competitive advantages when making strategic and operational decisions The good news is that you can overcome these costly mistakes – by identifying your competitive advantages and creating new ones. Consultant, public speaker, and competitive advantage expert Jaynie Smith will show you how scores of small and large companies substantially increased their sales by focusing on their competitive advantages. When advising a CEO frustrated by his salespeople’s inability to close deals, Smith discovered that his company stayed on schedule 95 percent of the time – an achievement no one else in his industry could claim. By touting this and other competitive advantages to customers, closing rates increased by 30 percent—and so did company revenues. Jack Welch has said, “If you don’t have a competitive advantage, don’t compete.” This straight-to-the-point book is filled with insightful stories and specific steps on how to pinpoint your competitive advantages, develop new ones, and get the message out about them. |
| michael e porter what is strategy: Strategic Management Robert A. Pitts, David Lei, 1996 This new strategic management book focuses on building, extending, organizing and sustaining competitive advantage. Within the context of its advantage-driven focus, five key themes are addressed and reinforced throughout the book: distinctive competence, quality, globalization, change, and ethics. This book has mini-cases within each chapter and is filled with current real-world applications. |
| michael e porter what is strategy: How information gives you competitive advantage Michael E. Porter, Victor E. Millar, 1985 |
| michael e porter what is strategy: Competing on Capabilities George Stalk, Philip Evans, Lawrence E. Sgulman, 1992 |
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