Understanding Michael Porter: The Essential Guide to Competition and Strategy / Magretta, Joan

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 them for 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 ideas and swiftly deploy them to drive your company s success.