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Porter's Strategy Revolution
Michael Porter
"Strategic positioning means performing different activities from rivals' or performing similiar activites in different ways."
- Michael E. Porter
competitive strategy is relating a company to its enviornment
When we think of the giants of the modern business world often times the names Gates, Buffet, Google surface however, Michael Porter's influence has been far greater. His ideas have crossed all cultural bounds as well as business. Porter has formulated a new grammer for business. A universal grammer that has acted as a primal engine to the incpetion and evolution of globalization. Though, perhaps, Porter's ultimate mark comes with bringing lyrcism to a tone-deaf instrument. Even Plato could not see these possibilities as he scoffed when he heard that a "school of business" had been formed. Porter brought poetry to business.
Michael E. Porter

Born: May 23, 1947
Ann Arbor, Michigan

Nationality: American

Field: Business Philosophy

Institutions: Harvard University

Alma mater: Princton and Harvard

Known for: Founding member of The Monitor Group (strategy consulting firm),
By ART VOID | December 13, 2018
Michael Porter
• Competitive advantage
• Porter five forces analysis
• strategic groups (also called strategic sets)
• the value chain
• the generic strategies of cost leadership,
    product differentiation, and focus
• the market positioning strategies of variety based,
    needs based, and access based market positions
• global strategy
• Porter's clusters of competence for regional economic
• Diamond model
• Porter's four corners model

Fundemental Concepts of Porter's Strategic System:
Threat of New Competition

Profitable markets that yield high returns will attract new firms. This results in many new entrants, which eventually will decrease profitability for all firms in the industry.
Bargaining Power of Customers (buyers)

The bargaining power of customers is also described as the market of outputs: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
Porter's Five Forces Analysis
Framework for industry analysis and business strategy development.
Threat of New Competition
Competitive Rivalry
Bargaining Power of Customers
Bargaining Power of Suppliers
Threat of Substitute Products
Threat of Substitute Products or Services

The existence of products outside of the realm of the common product boundaries increases the propensity of customers to switch to alternatives. Note that this should not be confused with competitors' similar products but entirely different ones instead.
Bargaining Power of Suppliers

The bargaining power of suppliers is also described as the market of inputs. Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm, when there are few substitutes. Suppliers may refuse to work with the firm, or, e.g., charge excessively high prices for unique resources.
Michael Porter is a true maverick who met with years of resentment from collegues and prestigious  institutions like Harvard, his Alma Mater, and presently he holds the Bishop William Lawrence University Professor at Harvard Business School. Yea, they finally came around to his ideas as did the rest of the world.
Intensity of Competitive Rivalry

For most industries, the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.


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