Books
Monitor thought leaders have made major contributions to business theory. See selected recent publications:
COMPETITIVE STRATEGY l by Michael E. Porter
Now nearing its 60th printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world. Electrifying in its simplicity - like all great breakthroughs - Porter's analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies - lowest cost, differentiation, and focus - which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided. In the almost two decades since publication, Porter's framework for predicting competitor behavior has transformed the way in which companies look at their rivals and has given rise to the new discipline of competitor assessment.
COMPETITIVE ADVANTAGE l by Michael E. Porter
Competitive Advantage introduces a whole new way of understanding what a firm does. Porter's groundbreaking concept of the value chain disaggregates a company into "activities," or the discrete functions or processes that represent the elemental building blocks of competitive advantage.
Now an essential part of international business thinking, Competitive Advantage takes strategy from broad vision to an internally consistent configuration of activities. Its powerful framework provides the tools to understand the drivers of cost and a company's relative cost position. Porter's value chain enables managers to isolate the underlying sources of buyer value that will command a premium price, and the reasons why one product or service substitutes for another. He shows how competitive advantage lies not only in activities themselves but in the way activities relate to each other, to supplier activities, and to customer activities. Competitive Advantage also provides for the first time the tools to strategically segment an industry and rigorously assess the competitive logic of diversification.
ON COMPETITION l Michael E. Porter
For the past two decades, Michael Porter's work has defined our fundamental understanding of competition and competitive strategy. On Competition is a collection of Porter's articles that assume a new impact and significance, with each piece augmenting his rich perspective on competition.
These essays develop some consistent themes: the key to profitability and growth - indeed to survival - is to stake out, and then constantly improve upon, a distinctive competitive position; prosperity arises from the ability to continually improve productivity; and much societal progress comes primarily through private-sector innovation. These themes have proven robust despite dramatic changes in the competitive landscape. On Competition will continue to provide the intellectual foundation for company and country strategies for years to come.