Competitive Strategy by Michael E. Porter
Book Review - 5 Stars
I have just started a Business Books blog with my fifth 5 star rated book, "Competitive Strategy: Techniques For Analyzing Industries and Competitors" by Michael E. Porter.
Competitive Strategy by Michael Porter
I believe that Competitive Strategy is an essential read for:
- Any business adviser involved with advising clients on business development, strategy or marketing.
- Any manager of a sizeable business who is facing changes in their external environment.
The "Competitive Strategy" book is rightfully regarded as a classic since it was published in 1980 but unfortunately its contents are often misrepresented in other strategy books that I read.
Because Michael Porter's ideas became so popular, his became the established approach to business strategy and people tried to raise their ideas up by explaining how Michael Porter was wrong. Unfortunately some of the things I've read elsewhere just show that the authors have never read either Competitive Strategy or his follow up book "Competitive Advantage."
I will admit that it is more of a reference book, and a source I go back to quite often than a nice book to read from start to finish. It is not a problem provided you become familiar with Porter's Five Forces which is the main analytical technique used in the book.
Click to read my full review Competitive Strategy Michael Porter
The Five Forces model has been recently updated in a new Harvard Business Review article - The Five Competitive Forces That Shape Strategy - which I will also be reviewing on my Business Book blog but I am planning to write some guidance notes on how to put the five forces into action on this blog.
I also found this nice video of Michael Porter explaining the Five Forces