Michael Eugene Porter (born 1947) is an University Professor at Harvard Business School, with academic interests in management and economics. Year 1947 ( MCMXLVII) was a Common year starting on Wednesday (link will display full 1947 calendar of the Gregorian calendar. The meaning of the word professor ( Latin: professor, person who professes to be an expert in some art or science teacher of highest rank) varies Harvard Business School ( HBS) is a renowned Business school in the United States Management (covering theory practice and scope of management and Manager' (covering the people who manage might help clarify and systematise An economy is the realized social system of production exchange distribution and consumption of goods and services of a country or other area He is the founder of The Monitor Group. Monitor Group is a privately-owned global Management consulting firm Porter's main academic objectives focus on how a firm or a region can build a competitive advantage and develop competitive strategy. Competitive advantage is a position a firm occupies against its competitors Strategic management is the art science and craft of formulating implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives He is also a Fellow Member of the Strategic Management Society. The Strategic Management Society is a professional society for the Advancement of Strategic Management

Porter's strategic system consists primarily of:

• Porter's 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. Porter's 5 forces analysis is a framework for the industry analysis and business strategy development developed by Michael E A strategic group is a concept used in Strategic management that groups companies within an industry that have similar Business models or similar combinations of strategies The value chain, also known as value chain analysis, is a concept from business management that was first described and popularized by Michael Porter in his Michael Porter has described a category scheme consisting of three general types of strategies that are commonly used by businesses to achieve and maintain Competitive In Marketing, product differentiation (also known simply as "differentiation" is the process of distinguishing the differences of a product or offering In Marketing, positioning has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product,
• Porter's clusters of competence for regional economic development

Contents 1 Key Work 2 Criticisms 3 See also 4 External links 5 References

Key Work

• Porter, M. A business cluster is a geographic concentration of interconnected Businesses suppliers and associated institutions in a particular field Economic development is the development of economic wealth of countries or regions for the well-being of their inhabitants (1979) "How competitive forces shape strategy", Harvard business Review, March/April 1979.
• Porter, M. (1980) Competitive Strategy, Free Press, New York, 1980.
• Porter, M. (1985) Competitive Advantage, Free Press, New York, 1985.
• Porter, M. (1987) "From Competitive Advantage to Corporate Strategy", Harvard Business Review, May/June 1987, pp 43-59.
• Porter, M. (1996) "What is Strategy", Harvard Business Review, Nov/Dec 1996.
• Porter, M. (1998) On Competition, Boston: Harvard Business School, 1998.
• Porter, M. (1990, 1998) "The Competitive Advantage of Nations", Free Press
• Porter, M. (2001) "Strategy and the Internet", Harvard Business Review, March 2001, pp. 62-78.
• Porter, Michael E. & Stern, Scott (2001) "Innovation: Location Matters", MIT Sloan Management Review, Summer 2001, Vol. 42, No. 4, pp. 28-36.
• Porter, Michael E. and Kramer, Mark R. (2006) "Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility", Harvard Business Review, December 2006, pp. 78-92.
• Porter, M. & Elizabeth Olmsted Teisberg (2006) "Redefining Health Care: Creating Value-Based Competition On Results", Harvard Business School Press

Criticisms

Porter has been criticised by some academics for inconsistent logical argument in his assertions. ^[1] Critics have also labelled Porter's conclusions as lacking in empirical support and as justified with selective case studies. ^{[2] [3] [4]}

See also

• Techno cluster
• Economics
• Marketing strategies
• Strategic planning
• Strategic management
• Porter 5 forces analysis
• Cluster development
• National Diamond

External links

• Michael Porter currently leads the Institute for Strategy and Competitiveness at Harvard
• Summary Biography from Global Leaders
• Biography at Harvard Business School Faculty Pages
• Michael E. Porter and Mark R. Kramer's latest article and winner of the 2006 McKinsey Award for the Best Harvard Business Review Article
• Michael Porter Biography at nonprofit consulting firm that he co-founded
• Porter Prize (English)

References

1. ^ Sharp, Byron; Dawes, John (1996), "Is Differentiation Optional? A Critique of Porter's Generic Strategy Typology," in Management, Marketing and the Competitive Process, Peter Earl, Ed. A business cluster is a geographic concentration of interconnected Businesses suppliers and associated institutions in a particular field Economics is the social science that studies the production distribution, and consumption of goods and services. A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive Strategic planning is an Organization 's process of defining its Strategy, or direction and making decisions on allocating its resources to pursue this strategy Strategic management is the art science and craft of formulating implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives Porter's 5 forces analysis is a framework for the industry analysis and business strategy development developed by Michael E Cluster development (or cluster initiative) is the Economic development of Business clusters The cluster concept has rapidly attracted attention from governments Strategic analysis typically focuses on two views of organization London: Edward Elgar.
2. ^ Speed, Richard J. (1989), "Oh Mr Porter! A Re-Appraisal of Competitive Strategy," Marketing Intelligence and Planning, 7 (5/6), 8-11.
3. ^ Yetton, Philip, Jane Craig, Jeremy Davis, and Fred Hilmer (1992), "Are Diamonds a Country's Best Friend? A Critique of Porter's Theory of National Competition as Applied to Canada, New Zealand and Australia," Australian Journal of Management, 17 (No. 1, June), 89-120.
4. ^ Allio, Robert J. (1990), "Flaws in Porter's Competitive Diamond?," Planning Review, 18 (No. 5, September/October), 28-32.

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