In the dynamic and often brutal landscape of modern business, simply having a good product or service is rarely enough. To achieve sustained success and growth, a business must forge a robust, well-defined, and defensible Competitive Strategy.
Posts tagged as “Michael Porter”
In 1990, strategy guru Michael E. Porter published "The Competitive Advantage of Nations," a seminal work that fundamentally reshaped our understanding of why certain nations and industries achieve sustained global success while others falter.
A competitive strategy is a company's long-term action plan designed to gain a significant and sustainable advantage over its rivals in the market.
Comparative advantage and competitive advantage are two foundational concepts in economics and business strategy, but they operate on fundamentally different principles.
Focused marketing, also known as a focus strategy or niche marketing, is a competitive strategy where a company directs its marketing and sales efforts toward a specific, narrowly defined market segment.
The concept was introduced by Michael Porter in his 1985 book, "Competitive Advantage: Creating and Sustaining Superior Performance."
The concept of Primary and Secondary Value Activities typically refers to Michael Porter's Value Chain framework, which analyzes a company's activities to understand where it creates value and potentially achieves a competitive advantage.
Business gurus and thinkers are individuals who have significantly influenced the way we understand and practice business.
In the intricate tapestry of international economics, few theories have offered as enduring and insightful a lens into national competitiveness as Michael Porter's Diamond Framework.
National competitiveness is a multifaceted concept that has long captivated economists, policymakers, and business leaders.
By consciously choosing and diligently executing one of these generic strategies, your business can build a powerful competitive advantage.
Businesses that effectively analyze and optimize their value chain can identify cost efficiencies, improve customer satisfaction, and gain a sustainable competitive edge.
A marketing audit is a review of the current situation of the business’s Marketing Mix. It is done before writing a formal Marketing Plan.