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8 of 9 people found the following review helpful
5.0 out of 5 stars The single most important book on business strategy
Michael E. Porter is a professor at Harvard Business School and a leading authority on Strategy and Competitiveness. He did his MBA and Ph.D from Harvard. He has served as an advisor to several business and government organizations. He was also a founder of the strategy and management consulting firm, Monitor Group.
Professor Porter is best known for his landmark...
Published on March 23 2008 by Avinash Sharma, The Yogic Manager

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0 of 1 people found the following review helpful
2.0 out of 5 stars Concepts great -- writing barely readable
Thank goodness there have been so many articles written that regurgitate Porter's ideas. I'd read many of them before reading his book, and looked forward to reading the original material. Talk about painful!!! Long, long, long lists in sentences (reminiscent of the "begat" sections in the Bible), passive voice for no good reason, examples that are vague and...
Published on Feb. 2 2002 by Timothy G. Wilson


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8 of 9 people found the following review helpful
5.0 out of 5 stars The single most important book on business strategy, March 23 2008
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
Michael E. Porter is a professor at Harvard Business School and a leading authority on Strategy and Competitiveness. He did his MBA and Ph.D from Harvard. He has served as an advisor to several business and government organizations. He was also a founder of the strategy and management consulting firm, Monitor Group.
Professor Porter is best known for his landmark books that defined the field of Strategy - Competitive Strategy: Techniques for Analyzing Industries and Competitors (1980) and Competitive Advantage: Creating and Sustaining Superior Performance (1985). These books are must reads at the leading business schools.
I read Competitive Strategy (1980) for a Strategy course. It starts with a bang. On the very second page of the first chapter you will find the figure for the famous Five Forces Driving Industry Competition. While Porter did not intend this framework to be used for case interviews, in reality, this is a very important framework to know for the case interviews conducted by leading strategy and management consultancy firms. All top MBAs and anybody who has ever been hired by the best strategy and management consultancy firms knows this framework, and has probably read this book. The first chapter immediately proceeds to explaining each of the five forces:
1. Threat of new entrants
2. Intensity of rivalry among existing competitors
3. Pressure from substitute products
4. Bargaining power of buyers
5. Bargaining power of suppliers
While the first chapter alone is worth the cost of this book, I recommend it for the wisdom contained in the rest of the book. The chapters are organized under three parts (General Analytical Techniques, Generic Industry Environments, and Strategic Decisions). There are several thought provoking discussions on concepts such as A Framework for Competitor Analysis (Future goals, Assumptions, Current strategy, Capabilities), Market Signals and a Strategic Analysis of Vertical Integration.
This book is the single most important book on business strategy. It is a classic - like the management classics of Peter Drucker. As with every classic, the examples are old (not to be confused with outdated). But, the competition HP faced for electronic calculators in the 70s, it still faces for computers today. There have been several changes in the players, technology, industries, globalization, etc, but the foundation built by Porter's masterpieces are still relevant today.
Porter's second book Competitive Advantage (1985) introduced another important tool - The Value Chain. This analyzes primary activities (Inbound logistics, Operations, Outbound logistics, Marketing and Sales, Services) and support activities (Procurement, Technology development, Human resource management, Firm infrastructure) that firms must analyze to create value and competitive advantage.
If my review was helpful to you, I request you to select "Yes" so that the rating is improved and more readers will get to read it.
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5.0 out of 5 stars Just classic!, Oct. 22 2012
By 
Yingxia Sun (Ontario, Canada) - See all my reviews
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This review is from: Competitive Strategy (Paperback)
Must have if you're interested in Strategy. Still working on it, so really can't say too much of it, but well, I guess the reputation of the book and the popularity over these years has said everything.
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5.0 out of 5 stars How Important Are Competitors in Setting Future Strategy?, Dec 14 1999
By 
Donald Mitchell "Jesus Loves You!" (Thanks for Providing My Reviews over 124,000 Helpful Votes Globally) - See all my reviews
(#1 HALL OF FAME)    (TOP 50 REVIEWER)   
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
Anyone would agree that this book is the best overview of competitive strategy analysis ever written. The strength of the book is a solid outline of subjects and questions to improve your thinking, and get to be a step ahead of the competition. In highly-competitive, commodity businesses, that's usually what strategies focus on.
On the other hand, the rapid advances of knowledge and technology mean that the relevant benchmark is perfection, not the competitor, in defining an ideal best practice. In that world, this book has serious limitations, because the competitive dimension is often less important than the customer and user dimension these days.
Any business arena begins, as Peter Drucker so aptly put it, with the task "to create a customer." That reminder is especially relevant today when they are so many new ways to serve a customer's needs that no one has ever considered before. The strategic point of 'Blown to Bits' for example is that almost every business will see its vertical value chain (moving from resources through to the customer) broken apart into tiny segments each served by specialists. If you did not begin with that perspective in analyzing the impact of electronically-based business practices, you could easily focus on the wrong tasks using this book to create an over-broad strategy focus, rather than concentrating on just a few areas.
I suspect that the applications of Moore's Law and Metcalfe's Law need to be explicitly considered as part of the analysis that Professor Porter is recommending.
A more general weakness in this book is that it assumes that future conditions will be stable enough to draw conclusions about which conditions will be favorable, without giving enough guidance on how to deal with the increasing frequencies and degrees of volatility that we see (in areas like financial markets, commodity prices, the weather, changing customer preferences, and so forth).
Although no book that takes such a narrow focus can help but have weaknesses (like having the podiatrist not notice that you have kidney problems), if you want a good start of how to think about competitors, this is the book for you. Just be sure you keep developing yours strategy with additional dimensions after you finish using this analysis.
If you have read none of Professor Porter's works, this is the one book you should read.
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2 of 2 people found the following review helpful
5.0 out of 5 stars A book that should be referred to over and over again., Oct. 20 2003
By 
Craig Matteson (Saline, MI) - See all my reviews
(REAL NAME)   
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
This is one of the foundation books of the modern business education. Yes, it was written over twenty years ago and you cannot take a business course anywhere without the term "Porter's Five Forces" not at least being mentioned. But, really, this book is still completely relevant and should be on every businessperson's bookshelf, front and center.
For a concept that has so much a place in b-school discussions, you might think the book focuses on the 5-forces, but it is only a small part of the book. It outlines the Generic Competitive Strategies (again, a now well known topic), Competitor Analysis (extremely valuable), Market Signals, Competitive Moves, and so much more.
The book is in three parts, General Analytical Techniques, Generic Industry Environments, and Strategic Decisions. There is an appendix on Portfolio Techniques in Competitor Analysis, and a very useful appendix on How to Conduct an Industry Analysis.
I think a lot of times this book is not given as active a place in the pantheon as it deserves because so many books and articles are recycling a lot of what was in this book and most don't add much to the discussion. Honestly, this book is worth referring to over and over and over again. It is a tool or a weapon in your competitive war chest that needs to be kept active and in play.
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1 of 1 people found the following review helpful
5.0 out of 5 stars A must have for beginners, March 11 2003
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
A must have. Porter provides students with a great place to start for understanding strategy. While you must know the basics in this book to understand the foundation of strategy,it will not provide you with a dynamic and cutting edge strategic framework that many of today's industries need.
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1 of 1 people found the following review helpful
5.0 out of 5 stars the bluest of the blue, Feb. 14 2003
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This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
Simply put, if you haven't read Competitive Strategy yet, you are unfit to talk about business strategy.
And only after reading it, are you fit to read the sequel, Competitive Advantage, which if you haven't read till now, makes you unfit to talk about business tactics.
These two books are the Old and New Testaments of business.
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5.0 out of 5 stars Competitive Strategy, Nov. 25 2002
By A Customer
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
Porter gives a clear and concise review of the basics that everone in an organisation needs to understand to ensure that their business is effective and efficient v's the competition. Essential reading for the board room down.
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5.0 out of 5 stars Clasic for all time, Nov. 20 2002
By 
T. Noyes (Charlotte, NC USA) - See all my reviews
(REAL NAME)   
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
As Adam Smith is to economics and capitalism, Porter is to business strategy within this market system.
This is THE seminal book for defining how businesses compete.
As technology fads and internet business models ("New economy") come and go, every company must still address the basics of competition as outlined within this book. The frameworks within the book outline:
-How to assess the competitive structure of your industry,
-Generic competitive strategies
-Competitor Analysis
-Effects of market signals on competitive behavior
-Competitive moves in response to your strategy
-Competitve strategy in a number of different market environments
-Impact of strategies such as Vertical integration, growth through new products, scale, and M&A
-... much more
You will use this book as a reference, and find it is timeless. It is no wonder the Mr. Porter is widely regarded as the preeminent strategist.
To put this in practice I recommend books on gaming theory.
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5.0 out of 5 stars A must read, Aug. 30 2002
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This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
Even if that book is quite old, it is still a must read for people who want to add value to their organisation. It is also the first book that you have to read if you want to start a business or to redefine your business.
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5.0 out of 5 stars The keystone, May 1 2002
By A Customer
This review is from: Competitive Strategy: Techniques for Analyzing Industries and Competitors (Hardcover)
This book is not the easiest to read, but it is the most well thought out book ever in the field of strategy. I use these ideas nearly every day and they shape my thinking in nearly every assignment I perform. I cannot think of another book that has powerfully influenced my mindset when it comes to understanding industries and competitiors. I recommend this highly!
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