The Ideas of Michael Porter About Strategy

Michael Porter is basically occupied with just one topic: Strategy. But let´s face it: strategy is so broad and deep you could spend a lifetime studying it. Which is precisely what Michael Porter has been doing. For several decades, in fact, he has been studying and writing about nothing else. There are many definitions for strategy, but most of them – including Michael Porter´s – center on the long-term direction of a company. Porter says: “Sound strategy starts with having the right goal. And I argue that the only goal that can support a sound strategy is superior profitability. If you don't begin with that goal and go after it pretty directly, you will quickly be led to actions that will undermine strategy. If your goal is anything but profitability -- if it's to be big, or to grow fast, or to become a technology leader -- you'll hit problems.” MBA in One Day - Management Classics is a series of 10 audio programs from author Ben Tiggelaar about the insights and advice from the most important management gurus. Presenter Bill Hoopes discusses the ideas of: Stephen Covey, Peter Drucker, Eli Goldratt, Michael Hammer, Kaplan & Norton, Philip Kotler, Henry Mintzberg, Tom Peters, Michael Porter, and Robert Quinn. Contents 1 Welcome 2 Who is Michael Porter 3 Michael Porter's Vision 4 Strategy 5 Five Forces Shaping Your Strategic Possibilities 6 Three Basic Strategies According to Porter 7 Strategy and the Value Chain 8 Strategy at Country Level 9 Porter on Current Strategic Issues 10 Praise and Criticism 11 The Practical Value of Porter's Ideas