Understanding Michael Porter - The Essential Guide to Competition and Strategy

Key Facts and Insights:

• Porter’s Five Forces Model is used to analyze competition within an industry.
• The Value Chain Analysis provides a detailed understanding of a company’s operations and how they create value.
• Competitive Advantage is achieved through either cost leadership, differentiation or focus.
• Strategy is not about being the best, but about being unique and creating a unique value proposition.
• A company’s strategy should be based on its strengths and weaknesses, and should aim to create a sustainable competitive advantage.
• Operational effectiveness is not strategy, although it is important for the successful execution of a strategy.
• The book...

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