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Understanding Michael Porter: The Essential Guide to Competition and Strategy, by Joan Magretta
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Review
“The Harvard professor's books are required reading for health care leaders tackling strategy.” — American Hospital Association“A book on understanding Porter is worthwhile because he's often misunderstood. He is widely and rightly regarded as the all-time greatest strategy guru, but that view gets the emphasis wrong.” — Fortune magazine“If you have always intended to read Michael Porter's groundbreaking management classics, but have never quite got around to doing so, Joan Magretta's Understanding Michael Porter does the hard work for you” – Financial Mail (South Africa)“Magretta’s book is a timely reminder that serves to put Porter’s thinking and concepts before us again—ideas that all firms and strategy practitioners would be well-advised to study and learn from…an excellent read.” — Quality Digest“Summing Up: Highly recommended” — CHOICE“Joan Magretta lays out Porter’s ideas on competition in a concise, easy-to-read volume.” — Business Day (South Africa)“The book is a great read even for those who are looking to get initiated into the Michael Porter way of thinking” — The Economic Times (India)“Magretta adds value through fresh case studies showing how companies such as Zara, Ikea and In-N-Out Burger deploy Porter’s ideas. Written in a very accessible style, this is a book for managers rather than academics.” — The Irish Times“Ms. Magretta does a superb job of clearly and logically explaining Prof. Porter’s concepts, with lots of helpful examples. This is a distillation, but it never feels sparse, with ample time for the reader to learn a concept and sufficient reinforcement of the ideas as you are guided through the Porter oeuvre. Reading it brings you up-to-date on his ideas and, more importantly, helps you to understand your own business and the strategic elements you may have missed.” — The Globe & Mail“200 pages of simple, non-faddish common sense for business.” — Anna Farmery, TheEngagingBrand.com“Book of the Month. This book will become the strategy bible for today’s busy managers.” — Business Executive
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About the Author
Joan Magretta has worked with Michael Porter for almost two decades; she is a Senior Associate at the Institute for Strategy and Competitiveness at Harvard Business School, a McKinsey Award winner, and author of What Management Is, a top pick of its year by The Economist. She was a Bain partner and strategy editor of the Harvard Business Review.
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Product details
Hardcover: 256 pages
Publisher: Harvard Business Review Press; 1 edition (December 6, 2011)
Language: English
ISBN-10: 9781422160596
ISBN-13: 978-1422160596
ASIN: 1422160599
Product Dimensions:
6.4 x 1 x 9.3 inches
Shipping Weight: 1 pounds (View shipping rates and policies)
Average Customer Review:
4.7 out of 5 stars
131 customer reviews
Amazon Best Sellers Rank:
#22,976 in Books (See Top 100 in Books)
Michael Porter is considered one of the most important scholars in the field of strategy, and Ms. Magretta's book presents his ideas clearly and concisely. As a professor of strategy who has been teaching Porter's ideas to executives and students for more than 10 years, I enjoyed the book, even though I have read Porter's books and articles themselves. The book can be thought of as a more detailed yet accessible versions of two of his seminal articles, The Five Forces That Shape Competitive Strategy and What is Strategy.If you have not read any of Porter's work before, this book is probably the best vehicle to get introduced to his ideas, and you will gain valuable insights. Even if you have read the above articles however, the book will still be useful, because Ms. Magretta updates the examples, integrates material from other works by Porter and makes the material more accessible without watering it down. The last chapter on Continuity is quite fresh for example. The case study examples have been updated, which was important for me. The discussion of how the desire to grow detracts from strategy is especially insightful and eye-opening. The Q&A with Michael Porter is also unique to this book. Finally, Ms. Magretta presents a list of additional readings case studies for those who are interested in pursuing the material further. In short, there is enough material to satisfy even avid readers of Porter's ideas.One could of course point to some weaknesses as well. The strategy field has advanced quite a lot since Porter's ideas have been presented, and a full understanding of his concepts and views requires relating them to alternative views of strategy. For example, his 1996 article, What is Strategy, was written partly as a defense of his views vis-a-vis some of the alternative views. Furthermore, Porter's ideas are controversial and not universally accepted. Finally, one could argue that examples were picked conveniently to support Porter's views. However, these are more critiques of Professor Porter's views, rather than of the book itself.One word of caution: Porter's ideas are wide-ranging. He has written about diverse topics such as competitive advantage of nations, clusters and global strategy and health care. Those are not in this book. This book focuses on his ideas on the field of business strategy, which is where he made his biggest mark.The book will be most relevant and useful for practicing managers, especially senior managers or those who are part of the strategy formation process in their organizations. However, the general reader can also gain valuable insights. As someone who teaches and studies business strategy, I highly recommend this book.
If you are a fan of Michael Porter's work, or you simply want to get a deeper understanding of competitive strategy – I cannot possibly recommend this book highly enough. I underlined page after page of great ideas and then created a summary which I would consider some of the best information I have been able to put together on truly understanding strategy. I have been teaching strategic thinking at the Wharton School of Business as a guest lecturer for more than 15 years and I found this book truly valuable.
Great book to understand Porter 5 forces and test if you have good strategy. Magretta summarizes Porter's work into an easy and clear book to read. I have researched on Porter's concepts but found this book to have the most material on his theories.
This is a well researched, well written book, unlike what I have read in management literature in some time. Yes, it draws must (if not all) its ideas from the great Michael Porter. However, the book's delivery is superb. I will read it again, as it is a fresh reminder of all that I learnt at my MBA at London Business School. If you want to read a great management book, look for no further than Understanding Michael Porter by Joan Magretta. The other book I would highly recommend, if you have the time, is From Zero to One: Notes on Startups and how to Build the Future.
Concise and actionable, though based on broad topics that can sometimes be overwhelming or bland. I run a small marketing agency of 9 people and was interested in learning more about "Harvard MBA style concepts" that might help me develop further as an entrepreneur. This was a GREAT resource and something I really enjoyed. Highly recommended if you're looking to learn more about "big CEO" type of stuff you can apply to your small business. Note there are no "silver bullets" or aw ha moments - I would say this book just gives you a broader perspective and frameworks for how to understand and plan.
Reading Michael Porter can be very tedious but understanding Michael Porter as written by Joan Magretta makes Michael Porter is the title of the book says extremely understandable. Top-notch book for understanding strategic marketing and product positioning
I enjoyed the book. I have both Porter’s key books on my shelf and never read them completely through. I read this one and it kept my attention, hit the core of Porter’s frameworks and used a lot of supplemental material from Porter to fill in gaps. Had a nice flow and writing style is good. Porter’s work stands the test of time for business strategy. If you want a good distillation of Porter’s timeless principles it’s worth’s a read.
Makes his concepts much more accessible...regular business people who don't want to wade through the original texts will find this very useful. Also, there are updates and expansions to the models. The author was authorized by Porter to write the book...there's even an interview with Dr Porter at the end. Incredibly helpful!
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