Title:Understanding Michael Porter
Author:Joan Magretta
Summary:Competitive advantage. The value chain. Five forces. Industry structure. Differentiation. Relative cost. If you want to understand how companies achieve and sustain competitive success, Michael Porterís frameworks are the foundation. But while everyone in business may know Porterís name, many managers misunderstand and misuse his concepts. Understanding Michael Porter sets the record straight, providing the first concise, accessible summary of Porterís revolutionary thinking. Written with Porterís full cooperation by Joan Magretta, his former editor at Harvard Business Review, this new book delivers fresh, clear examples to illustrate and update Porterís ideas. Magretta uses her wide business experience to translate Porterís powerful insights into practice and to correct the most common misconceptions about themófor instance, that competition is about being unique, not being the best; that it is a contest over profits, not a battle between rivals; that strategy is about choosing to make some customers unhappy, not being all things to all customers. An added feature is an original Q&A with Porter himself, which includes answers to managersí FAQs. Eminently readable, this book will enable every manager in your organization to grasp Porterís ideasóand swiftly deploy them to drive your companyís success.