Competitive Strategy: Techniques for Analyzing Industries and Competitors New ed Edition by Michael E. Porter

Business Strategy is key to any successful MBA training, and Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael E. Porter is one of the best books ever written to elucidate the nuances of business analysis in layman terms. The fact that the book has been translated into nineteen different languages, and is currently in its 60th reprint talks volumes about the importance of Porter’s work. The author lays down the foundation of understanding businesses at a macro level; from industry structure, to analyzing and scoping out competition such as businesses targeting the same customer base and to understanding mobility barriers which define competition. According to Porter, industry competition is driven by five important forces, which are in turn controlled by three important factors namely lowest cost, differentiation, and focus. The author then describes how these elements work together and play a significant role in the strategic positioning of a company in the market. Porter’s guidelines to understanding and analyzing industry competition has redefined the way companies assess potential competition today, and given a completely new dimension to the discipline of competitor assessment.

Michael Eugene Porter graduated with a  B.S.E. in aerospace and mechanical engineering from Princeton University in 1969. During his stint at Princeton, he was a member of several prestigious clubs such as Tau Beta Pi and Phi Beta Kappa. He completed his MBA degree as a George F. Baker Scholar from Harvard Business School, and went on to earn a PhD from Harvard University in the field of Business Economics. Currently he is the Bishop William Lawrence University Professor at Harvard Business School, and a leading authority on competitive strategy in industries.