Competitive advantage. The value chain. Five forces. Industry structure. Differentiation. Relative cost . If you want to understand how companies achieve and sustain competitive success, Michael Porter's frameworks are the foundation. But while everyone in business may know Porter's name, many managers misunderstand and misuse his concepts.
Understanding Michael Porter sets the record straight, providing the first concise, accessible summary of Porter's revolutionary thinking. Written with Porter's full cooperation by Joan Magretta, his former editor at Harvard Business Review , this new book delivers fresh, clear examples to illustrate and update Porter's ideas.
Magretta uses her wide business experience to translate Porter's powerful insights into practice and to correct the most common misconceptions about themfor instance, that competition is about being unique, not being the best; that it is a contest over profits, not a battle between rivals; that strategy is about choosing to make some customers unhappy, not being all things to all customers.
An added feature is an original Q&A with Porter himself, which includes answers to managers' FAQs.
Eminently readable, this book will enable every manager in your organization to grasp Porter's ideasand swiftly deploy them to drive your company's success.
The Harvard professor's books are required reading for health care leaders tackling strategy." American Hospital Association
A book on understanding Porter is worthwhile because he's often misunderstood. He is widely and rightly regarded as the all-time greatest strategy guru, but that view gets the emphasis wrong." Fortune magazine
If you have always intended to read Michael Porter's groundbreaking management classics, but have never quite got around to doing so, Joan Magretta's Understanding Michael Porter does the hard work for you" Financial Mail (South Africa)
Magretta's book is a timely reminder that serves to put Porter's thinking and concepts before us againideas that all firms and strategy practitioners would be well-advised to study and learn from...an excellent read." Quality Digest
Summing Up: Highly recommended" CHOICE
Joan Magretta lays out Porter's ideas on competition in a concise, easy-to-read volume." Business Day (South Africa)
The book is a great read even for those who are looking to get initiated into the Michael Porter way of thinking" The Economic Times (India)
Magretta adds value through fresh case studies showing how companies such as Zara, Ikea and In-N-Out Burger deploy Porter's ideas. Written in a very accessible style, this is a book for managers rather than academics." The Irish Times
Ms. Magretta does a superb job of clearly and logically explaining Prof. Porter's concepts, with lots of helpful examples. This is a distillation, but it never feels sparse, with ample time for the reader to learn a concept and sufficient reinforcement of the ideas as you are guided through the Porter oeuvre. Reading it brings you up-to-date on his ideas and, more importantly, helps you to understand your own business and the strategic elements you may have missed." The Globe & Mail
200 pages of simple, non-faddish common sense for business." Anna Farmery, TheEngagingBrand.com
Book of the Month. This book will become the strategy bible for today's busy managers." Business Executive
Joan Magretta lebt als Autorin und Beraterin in Cambridge, USA. Von 1995 bis 1999 war sie leite Redakteurin bei der führenden internationalen Zeitschrift für Management, der Harvard Business Review. Dort lernte sie die relevanten Managementideen aus erster Hand kennen. 1998 gewann sie den McKinsey Award für den besten Managementartikel des Jahres.
Über den Autor
Joan Magretta has worked with Michael Porter for almost two decades; she is a Senior Associate at the Institute for Strategy and Competitiveness at Harvard Business School, a McKinsey Award winner, and author of What Management Is, a top pick of its year by The Economist. She was a Bain partner and strategy editor of the Harvard Business Review.
Michael Porter, the father of strategy, is one of the most (if not the most) important business thinkers in the world. Anyone in business uses Michael Porter's ideas concepts like competitive advantage, differentiation, value creation, industry structure, the value chain whether they know it or not. These ideas form the foundation of all of strategy and competition today, and one cannot be conversant in business without understanding them.
But if anyone wanted to review or obtain a good overvivew of Porter's main ideas, they would have to read either all of his HBR articles or purchase several large, and quite densely written, books (Porter's classic books On Competition, Competitive Advantage, and Competitive Strategy amount to 1500 pages of reading).
At last, The Essential Michael Porter provides a book-length executive summary of his core concepts, in about 200 pages, and makes these ideas accessible to everyone. Short, concise, and written clearly and understandably by his trusted friend and long-time colleague (and former HBR strategy editor), Joan Magretta, this book will be a welcome addition to everyone's business bookshelf amd will be the new ""bible"" of strategy for years to come."