Having read many books on competitive strategy, I’ve often seen references to Michael’s Porter’s seminal book, Competitive Advantage, written in 1998.
I’ve always thought it would be a helpful read. And although I expected it to be dry and academic, I decided to give it a chance.
Michael Porter is a highly respected Harvard Business School researcher, advisor, speaker, author and teacher.
Competitive Advantage outlines the three categories of competitive strategy that Porter and his team discovered among successful companies.
They include: Cost Advantage, Differentiation, and either of these applied to a Focused Market rather than the whole market.
The book covers how to identify and strengthen the inter-related activities in a company that allow for each type of competitive advantage, as well as how to leverage technology in that effort.
It goes into detail on segmenting markets, evaluating competitors, introducing complimentary products and using offensive and defensive strategies.
It’s a massive read: over five hundred pages of rather technical writing with only the occasional real-world example.
I was right. While brilliant and insightful, it’s not for the faint of heart.
Book: 535 pages, 21 hour and 23 minute audio book.
How can you improve your competitive advantage?
To find out what you can improve in your competitive strategy to grow more easily, quickly and profitability, AND enjoy the ride, try our complimentary Agile Growth Checklist. This self-service questionnaire takes 5 to 10 minutes to complete. You'll receive the checklist with your responses immediately. Within 24 hours, you'll receive a compiled report highlighting areas to improve. Complete sections 3 and 6 to check your competitive strategy. Or complete all 7 sections to find out how your company is doing in each of the areas needed to produce more rapid, profitable and sustainable growth. This report is complementary and involves no obligation.