{"id":95578,"date":"2022-09-16T21:20:41","date_gmt":"2022-09-16T21:20:41","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/michael-porter-wrote-a-book-competitive-advantage-new-york-the\/"},"modified":"2022-09-16T21:20:41","modified_gmt":"2022-09-16T21:20:41","slug":"michael-porter-wrote-a-book-competitive-advantage-new-york-the","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/michael-porter-wrote-a-book-competitive-advantage-new-york-the\/","title":{"rendered":"Michael porter wrote a book, competitive advantage (new york: the"},"content":{"rendered":"<div>\n<p>\u00a0<\/p>\n<p>Michael Porter wrote a book,\u00a0<em>Competitive Advantage<\/em>\u00a0(New York:\u00a0 The Free Press, 1980), which became the standard text on corporate strategy during the 1980s and 1990s, and remains so even today.\u00a0 In it, he claims that there are three sources of competitive advantage (1980, pp. 35-40):<\/p>\n<p>(1)\u00a0\u00a0\u00a0Overall cost leadership (you make something everybody else makes at lower unit cost)<\/p>\n<p>(2)\u00a0\u00a0\u00a0Differentiation (nobody else makes exactly what you make, and consumers are willing to pay a little extra to buy what you make rather than a substitute)<\/p>\n<p>(3)\u00a0\u00a0\u00a0Focus (you make a product or produce a service which is generally available, but focus on serving a narrow customer base and doing it better than anyone else)<\/p>\n<p>Approach (3), if you think hard about it, is really just a combination of the other two, focused on a specific, often narrow customer base.\u00a0 Porter refers to the first two as \u201cpure strategies.\u201d\u00a0 <strong>See Slides 4-10 of the Lesson 10 Power Point for an analysis of these two pure strategies<\/strong>.<\/p>\n<p>The rest of Porter\u2019s book is a framework\u2014the 5 Forces Model and its application\u2014for assessing a business\u2019s competitive situation, and how to direct its energies towards \u201cwinning.\u201d\u00a0\u00a0<\/p>\n<p><strong>Deliverables\u00a0<\/strong><\/p>\n<ol>\n<li>What is the relationship between Porter\u2019s approach and that of \u201cBlue Ocean\u201d theory? What significant differences are there between them (if there are any)?<\/li>\n<li>How are these approaches related to Drucker\u2019s concept of \u201ccreating a customer\u201d? Justify your position.<\/li>\n<li>How are each of them related to Drucker\u2019s 5th principle of systematic entrepreneurship (\u201cAim at market leadership\u201d)? Justify your position.<\/li>\n<li>Do you prefer one of these approaches over the other? Why or why not?<\/li>\n<\/ol>\n<p>This written assignment is 6 pages, not including the title page and references.\u00a0 Use Times New Roman 12-pt font.\u00a0<\/p>\n<p>Additional videos:\u00a0<\/p>\n<p><div class='avia-iframe-wrap'><iframe loading=\"lazy\" title=\"An Introduction to Blue Ocean Strategy\" width=\"1333\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/7SQDGBSjty4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Michael Porter wrote a book,\u00a0Competitive Advantage\u00a0(New York:\u00a0 The Free Press, 1980), which became the standard text on corporate strategy during the 1980s and 1990s, and remains so even today.\u00a0 In it, he claims that there are three sources of competitive advantage (1980, pp. 35-40): (1)\u00a0\u00a0\u00a0Overall cost leadership (you make something everybody else makes at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-95578","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/95578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=95578"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/95578\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=95578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=95578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=95578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}