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From Competitive Advantage to Corporate Strategy

4 stars (A clear introduction into diversification) - Michael E. Porter is a Professor of Business Administration at the Harvard Business School and a leading authority in the field of competition and strategic management. This article was published in the May-June 1987 of the Harvard Business Review and won the McKinsey Award for the best article that year. "A diversified company has two levels of strategy: (1) business unit (or competitive strategy) and corporate (or companywide) strategy." Competitive strategy concerns the creation of competitive advantage in each of the businesses, corporate strategy concerns the scope and the management of the corporation. The aim of corporate strategy is 1+1=3. In this article the author reports on findings from his study into the diversification record of 35 large, U.S. companies between 1950-1986 period. The results were shocking and the author warns the reader that "any successful corporate strategy builds on a number of premises": (1) Competition occurs at the business unit level; (2) diversification inevitably adds costs and constraints to business units; and (3) shareholders can readily diversify themselves. Porter then continues by introducing three essential tests to specify the conditions under which diversification will create shareholder value: (1) The attractiveness test; (2) the cost-of-entry test; and (3) the better-off test. Each of these tests is explained and discussed in detail. Once these tests have been met, companies need a clear concept of corporate strategy to guide their diversification. According to the author, four mutually exclusive concepts of corporate strategy are put into practice. The first two concepts - portfolio management and restructuring - require no connections between business units, the other two - transferring skills and sharing activities - depend on them. "Ignoring any of the concepts is perhaps the quickest road to failure." Last but not least, Porter provides a 7-steps action progr...
Harvard Business Review :: General :: Business & Economics & General :: Business & Economics :: Michael E Porter :: :: From Competitive Advantage to Corporate Strategy

 

How Competitive Forces Shape Strategy

5 stars (Strategy formulation = Coping with five competitive forces) - Michael E. Porter is a Harvard Business School professor and a leading authority on competition. He has written several important novels and articles in the field of competition and strategic management. This article, published in the March-April 1979 issue of Harvard Business Review, meant the start of a great string of articles by Michael E. Porter. More importantly, it was the start of the positioning school in the field of strategic management. "The essence of strategy formulation is coping with competition. ... intense competition in an industry is neother coincidence nor bad luck." The state of competition in an industry depends on five basic forces: (1) jockeying among current competitors, (2) threat of new entrants, (3) bargaining power of suppliers, (4), bargaining power of customers, and (5) threat of substitute products or services. The author describes each force in detail and its consequence on competition. The collective strength of these forces determines the ultimate profit potential of an industry, and it is the goal to find a position in the industry where the company can best defend itself against these forces or can influence them in its favor. The company needs to identify its strengths and weaknesses, and compare these against the underlying causes of each force. Then the company can devise a plan of action that may include (1) positioning the company, and/or (2) influencing the balance of the forces through strategic moves, and/or (3) exploiting industry change before opponents recognize it. This article was awarded with the McKinsey Award (= best article in Harvard Business Review that year) and no reader will be surprised. It is a truly great article, and I must admit one of my all-time favorites. It will be remembered most for its introduction of the five competitive forces. Some people have criticized Michael Porter's framework(s) for being too static, but he has respon...
Harvard Business Review :: General :: Business & Economics & General :: Business & Economics :: Michael E Porter :: :: How Competitive Forces Shape Strategy

 

The Competitive Runner-s Handbook - The Bestselling Guide to Running 5Ks through Marathons

5 stars (Excellent) - I am a college student who doesnt run competitively but I run around 3-5 times per week and have been for years. This book gives great information about how to train for races and improve speed. I have bought a few running books and this is by far the best, I have no need to buy any more running books. The only thing that turned me off a little when first recieving the book is its size, it has almost 50 chapters and is over 600 pages long. However you do not need to read all 600 pages, I would recomend it to get the most knowledge out of the book, but definately not necessary. Highly recomended for anyone who wants to improve their speed and learn how to the proper way. 5 stars (Great resource - don't confuse it though) - This book is a great resource for all aspiring competitive runners. However, don't confuse this book with Glover's other book - which is more for beginning and non-competitive runners. There is a lot of overlap between the two books, so there is not much point in buying both. However, I can see a beginner outgrowing the beginner book and wanting the extra info that the "Competitive" handbook can provide. Both are great. 3 stars (Good Enough) - This is my least favorite running book although it is written competently enough. Too much childish ego on the part of the authors detracts from an otherwise good enough book. The best part of the book for me was the discussion of heart rate training, something that is barely mentioned in many of the other running books. There is also not enough explanation on developing training schedules which wasn't too much of a surprise since the authors sell guess what?... training schedules and coaching. Worth buying but not the best. ...
Penguin (Non-Classics) :: Sports & Recreation & General :: Fitness training :: Cross-country running :: Training :: Track & Field :: Sports & Recreation :: Sports :: Running races :: Running & :: The Competitive Runner-s Handbook - The Bestselling Guide to Running 5Ks through Marathons

 

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