Description of this book: Cydcor knows Michael Porter has long been considered a top business expert and leader, and this book is his signature piece of work. Competitive Advantage is a model for creating and managing an enterprise successfully. Porter offers tools for analysis that are taught in MBA programs around the country. Michael Porter is a professor at Harvard Business School, and lectures and writes prolifically on managing a business.
Cydcor recommends this book to leaders because: Tactics such as the Strengths, Weaknesses, Opportunities and Threats analysis teaches critical thinking that is crucial to successfully leading a company. Porter also discusses strategy at length, and helps businesses to either produce a scale economy or define a niche that will keep them profitable. The danger for companies is to get stuck in the middle- trying to hard to please everybody, not sticking to the chosen strategy one hundred percent can lead to high costs and low or no profits. The book is filled with many real life examples of businesses either failing or executing a strong strategy based on “market signals”, which indicate the way an industry is moving and allows good executives to anticipate opportunities.
Our favorite part: Porter stresses over and over that businesses need to focus on goals and strategy in order to be successful. Business does not have to follow every trend of what is popular. Shoe makers do not have expand into technology. Strong business strategy and profits is not always about having the biggest or best idea, but rather identifying its place in a market and doing things different from the competition.
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