Michael porter what is strategy harvard business review

To achieve competitive advantage, companies must position themselves strategically within their industries. More about competitive strategy. In diversified companies, corporate leaders can enhance competitive advantage by capturing synergies across business units within the corporate portfolio. More about corporate level strategy. Five Forces analysis is the first step in thinking about strategy, about how to shift the forces in your favor, and where to establish a unique positioning.

About the Five Forces. Harvard Business School. HBS Home. Moreover, managers need to understand that operational effectiveness, although a necessary part of management, is not strategy.

Managers should be able to clearly distinguish between the two. A company must continually improve its operational effectiveness and actively try to shift the productivity frontier; at the same time, there needs to be ongoing effort to extend its uniqueness while strengthening the fit among its activities" p. However, a company may have to change its strategic position due to a major structural change in the industry.

A company should choose its new position depending on its ability to find new trade-offs and leverage a new system of complementary activities into a sustainable advantage. Christensen, C.

Making strategy: Learning by doing. Harvard Business Review November-December : , , , , , Clinton, B. Product value analysis: Strategic analysis over the entire product life cycle. De Geus, A. The living company. Harvard Business Review March-April : Fonvielle, W.

Gaining strategic alignment: Making scorecards work. Management Accounting Quarterly Fall : Gadiesh, O. Transforming corner-office strategy into frontline action. Harvard Business Review May : Gosselin, M. The effect of strategy and organizational structure on the adoption and implementation of activity-based costing.

Accounting, Organizations and Society 22 2 : Iansiti, M. Strategy as ecology. Harvard Business Review March : Johnson, M. Christensen and H. Reinventing your business model. Harvard Business Review December : Kaplan, R. Using the balanced scorecard as a strategic management system. Harvard Business Review January-February : Having trouble with your strategy? Then map it. Harvard Business Review September-October : Transforming the balanced scorecard from performance measurement to strategic management: Part I.

Accounting Horizons March : Transforming the balanced scorecard from performance measurement to strategic management: Part II. Accounting Horizons June : Measuring the strategic readiness of intangible assets. Harvard Business Review February : Kim, W. Value innovation: The strategic logic of high growth. Creating new market space: A systematic approach to value innovation can help companies break free from the competitive pack.

Charting your company's future. Harvard Business Review June : Blue ocean strategy. Harvard Business Review October : How strategy shapes structure. Harvard Business Review September : Red ocean traps: The mental models that undermine market-creating strategies. Langfield-Smith, K.

Management control systems and strategy: A critical review. Luehrman, T. Strategy as a portfolio of real options. Magretta, J. Why business models matter. Explains the difference between a business model and a competitive strategy. Malone, D. Newsletter Promo Summaries and excerpts of the latest books, special offers, and more from Harvard Business Review Press.

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