Competitive Strategy: Techniques for Analyzing Industries and Competitors

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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.
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About the author

Michael E. Porter, one of the world's leading authorities on competitive strategy and international competitiveness, is the C. Roland Christensen Professor of Business Administration at the Harvard Business School. In 1983, Professor Porter was appointed to President Reagan's Commission on Industrial Competitiveness, the initiative that triggered the competitiveness debate in America. He serves as an advisor to heads of state, governors, mayors, and CEOs throughout the world. The recipient of the Wells Prize in Economics, the Adam Smith Award, three McKinsey Awards, and honorary doctorates from the Stockholm School of Economics and six other universities, Porter is the author of fourteen books, among them Competitive Strategy, The Competitive Advantage of Nations, and Cases in Competitive Strategy, all published by The Free Press. He lives in Brookline, Massachusetts.
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Additional Information

Publisher
Simon and Schuster
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Published on
Jun 30, 2008
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Pages
432
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ISBN
9781416590354
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Features
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Language
English
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Genres
Business & Economics / Economics / Theory
Business & Economics / General
Business & Economics / Industries / General
Business & Economics / Management Science
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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When globalization affects jobs and economies, policy makers strive to plan, design and implement actions to support their communities and businesses (Ansell and Gash 2007). Furthermore, local development policies are at the core of international cooperation programs or more in general represent a challenge for emerging countries. They could refer to infrastructure, entrepreneurship innovation or urban renewal. However, more frequently than not, development policies, which involve different institutional levels and public and private players, fail due to poor implementation management. This research book presents a managerial approach (the so called Managerial Flow) that could help the closure of gaps that hamper an efficient and effective policy execution.

The managerial flow model observes the phenomenon of policy implementation for economic development through managerial lens. In the book, the research team has empirically identified five gaps in practice whereupon public policy implementation falls down. As a response Managerial Flow model outlines sets of managerial actions that can be adopted to facilitate a clear ‘flow’ from policy development through to implementation.

This book expands on the Managerial Flow model, and acts as both a practical guide to stimulate evidence based policy implementation in governments and as theoretical contribution to policy and strategy execution.

Written for researchers and academics, this book begins by outlining the theoretical foundations of Managerial Flow and moves to unpack application and cases, based in different sectors and countries, in order to discuss and show how the Managerial Flow approach can concretely support managers in the implementation of economic development policies. It reviews and discusses how the managerial flow could be relevant in the implementation of a set of sectorial policies and uses the managerial flow concept to analyse cases of economic development and establish lessons for broader management scope.

In many countries of the world there is a growing feeling of uneasiness about the economic situation and its related social consequences. Every day the newspapers tell us that the recession is over, but we see only that scores of organizations go bankrupt, while others are struggling hard to stay in business; that many people have lost their jobs, but welfare measures are being reduced or abolished altogether. By now we should have become aware that our society is not facing temporary market difficulties, but a much deeper and wider crisis with only one root in worldwide economic developments, while other roots are social and psychological in nature. These factors are intertwined, and therefore the answer to the crisis cannot merely be an economic cost-benefit analysis of organizational management.
Sociocultural factors participate in the economic process even at the level of individual organizations, and what happens in them has backlash influences on the entire society. Therefore the problem is not the management of the individual organization, but the macroconception of management, which in the Western world of today separates the economic aspects from the social ones, and the individual organizations from society. Social and Economic Management in the Competitive Society begins by analyzing the management models of today to determine which characteristics yield the best results on the economic and social levels. The second step is to indicate the necessary changes of managerial thinking and acting, in order to boost economic results with reasonable profits while minimizing social costs. Finally, the potential ramifications of such changes are explored.
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.
"This is not a book about charismatic visionary leaders. It is not about visionary product concepts or visionary products or visionary market insights. Nor is it about just having a corporate vision. This is a book about something far more important, enduring, and substantial. This is a book about visionary companies." So write Jim Collins and Jerry Porras in this groundbreaking book that shatters myths, provides new insights, and gives practical guidance to those who would like to build landmark companies that stand the test of time.

Drawing upon a six-year research project at the Stanford University Graduate School of Business, Collins and Porras took eighteen truly exceptional and long-lasting companies -- they have an average age of nearly one hundred years and have outperformed the general stock market by a factor of fifteen since 1926 -- and studied each company in direct comparison to one of its top competitors. They examined the companies from their very beginnings to the present day -- as start-ups, as midsize companies, and as large corporations. Throughout, the authors asked: "What makes the truly exceptional companies different from other companies?"

What separates General Electric, 3M, Merck, Wal-Mart, Hewlett-Packard, Walt Disney, and Philip Morris from their rivals? How, for example, did Procter & Gamble, which began life substantially behind rival Colgate, eventually prevail as the premier institution in its industry? How was Motorola able to move from a humble battery repair business into integrated circuits and cellular communications, while Zenith never became dominant in anything other than TVs? How did Boeing unseat McDonnell Douglas as the world's best commercial aircraft company -- what did Boeing have that McDonnell Douglas lacked?

By answering such questions, Collins and Porras go beyond the incessant barrage of management buzzwords and fads of the day to discover timeless qualities that have consistently distinguished out-standing companies. They also provide inspiration to all executives and entrepreneurs by destroying the false but widely accepted idea that only charismatic visionary leaders can build visionary companies.

Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the twenty-first century and beyond.

This is A.G. Lafley’s guidebook. Shouldn’t it be yours as well?

Winning CEO A.G. Lafley is now back at the helm of consumer goods giant Procter & Gamble. If you want to know the strategy he’ll use to restore P&G to its former dominance—read this book.

Playing to Win, a noted Wall Street Journal and Washington Post bestseller, outlines the strategic approach Lafley, in close partnership with strategic adviser Roger Martin, used to double P&G’s sales, quadruple its profits, and increase its market value by more than $100 billion when Lafley was first CEO (he led the company from 2000 to 2009). The book shows leaders in any type of organization how to guide everyday actions with larger strategic goals built around the clear, essential elements that determine business success—where to play and how to win.

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: (1) What is our winning aspiration? (2) Where will we play? (3) How will we win? (4) What capabilities must we have in place to win? and (5) What management systems are required to support our choices? The result is a playbook for winning.

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.

Playing to Win outlines a proven method that has worked for some of today’s most celebrated brands and products. Let this book serve as your new guide to winning, as well.
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.
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