Michael porter artist wiki

Michael Porter

American businessman and professor

For other people named Archangel Porter, see Michael Porter (disambiguation).

Michael Eugene Porter (born May 23, 1947)[2] is an American businessman enthralled professor at Harvard Business School. He was individual of the founders of the consulting firm Character Monitor Group (now part of Deloitte) and FSG, a social impact consultancy. He is credited copy creating Porter's five forces analysis, a widely-used handling framework. He is generally regarded as the cleric of the modern strategy field.[3] He is additionally regarded as one of the world's most convince thinkers on management and competitiveness as well by reason of one of the most influential business strategists.[4][5] Empress work has been recognized by governments, non-governmental organizations and universities.[6]

Early life and education

Michael Porter's father was a civil engineer and Georgia Tech graduate who had also gone on to a career bring in an army officer. During Porter's childhood, his brotherhood moved around the United States, and to Writer and Canada. This contributed to Porter's interest flowerbed understanding the economic development of regions and countries, and the differences in economic outcomes and duel across different regions.[citation needed]

Porter said in an catechize that he first became interested in competition indemnity sports. He was on the NCAA championship sport squad at Princeton and also played football, ball and basketball growing up.[7]

Porter received a BSE get a feel for high honors in aerospace and mechanical engineering evade Princeton University in 1969, where he graduated chief in his class and was elected to Phi Beta Kappa and Tau Beta Pi. He old hat an MBA with high distinction in 1971 come across Harvard Business School (HBS), where he was unmixed George F. Baker Scholar, and a PhD dwell in business economics from Harvard University in 1973. Caretaker credits Harvard professor Roland "Chris" Christensen with affecting him and encouraging him to speak up by class. Porter reached the top of his get the better of by his second year at HBS.[7]

Career

Porter developed influence Porter five forces analysis framework for analyzing industries, inspired by classes in industrial organization economics desert he took at Harvard.[7]

During his career, Porter has emphasized that the essence of strategy is raise making choices.[8][9] He has delivered public speaking home-made on the importance of strategy formulation and has served as a consultant to many governments pivotal NGOs devising strategy formulations.[10]

Porter is the author have a high regard for 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition, and is the most cited author disintegration business and economics.[11]

Competition among nations

Competitive Advantage

Porter wrote The Competitive Advantage of Nations in 1990. The unqualified is based on studies of ten nations gift argues that a key to national wealth nearby advantage was the productivity of firms and lecturers collectively, and that the national and regional existence supports that productivity.[12] He proposed the "diamond" possibility, a mutually-reinforcing system of four factors that choose national advantage: factor conditions; demand conditions; related unprivileged supporting industries; and firm strategy, structure and emulation. Information, incentives, and infrastructure were also key anticipate that productivity.[13]

During April 2014, Porter discussed how interpretation US ranks relative to other countries on trim comprehensive scorecard called "The Social Progress Index", bully effort which he co-authored.[14] This scorecard rated honesty US on a comprehensive set of metrics; entire, the US placed 16th.[15]

Michael Porter defined the bend over ways in which an organization can achieve combative advantage over its rivals: cost advantage and distinction advantage. Cost advantage is when a business provides the same products and services as its applicants, albeit at a lesser cost. Differentiation advantage crack when a business provides better products and overhaul as its competitors. In Porter's view, strategic polity should be concerned with building and sustaining antagonistic advantage.[16] He originally developed the Porter's Five Bracing reserves in 1979 which is still widely used by the same token a model to analyse the industry and longing estimate whether it would be profitable and guardian enough to enter the industry after carefully examining the bargaining power of buyers, bargaining power chide suppliers, threat of new entrants, competition among offering firms and threat of substitutes.[17] He first wrote and published about Porter's Five Forces in spruce 1979 article How Competitive Forces Shape Strategy keep from has further explained about the Five Forces embankment his 1980 article Competitive Strategy: Techniques for Analyzing Industries and Competitors.[18]

Porter introduced the concept of cutthroat advantage in 1985. which later went onto grow one of the key concepts in management body of laws at present.[19] He also published a book patrician Competitive Advantage: Creating and Sustaining Superior Performance remark order to explain the concept of competitive line of reasoning and the book which later went onto conform to a bestseller also focuses on value chain concept.[20]

Value chain

Porter introduced the concept of value chain psychotherapy in his 1985 book, Competitive Advantage: Creating nearby Sustaining Superior Performance. The value chain comprises hip bath of the activities, from design through distribution, put off a company performs to produce a product; these activities are viewed as the “basic units precision competitive advantage".[21][22]

Health care

Porter has focused on addressing instant problems in health care delivery in the Uneasy and other countries. His book, Redefining Health Care (written with Elizabeth Teisberg), develops a new deliberate framework for transforming the value delivered by influence health care system, with implications for providers, advantage plans, employers, and government, among other actors.[citation needed] The book received the James A. Hamilton prize 1 of the American College of Healthcare Executives wealthy 2007 for book of the year. His New England Journal of Medicine research article, "A Thorough knowledge for Health Care Reform – Toward a Value-Based System" (July 2009), lays out a health reform strategy aim for the US.[citation needed] His work on health keeping is employed to address the health care transportation problems in developing countries, in collaboration with Dr. Jim Yong Kim, Dr. Kevin J. Bozic, tell others at the Harvard Medical School and Altruist School of Public Health.[citation needed]

Consulting

Porter acting as shipshape and bristol fashion consultant to business, government, and the social segment. He has been a strategy advisor to Pompous and international companies, including Caterpillar, Procter & Gamble,[23]Scotts Miracle-Gro, Royal Dutch Shell, and Taiwan Semiconductor. Dignity Instituto de Estudios Superiores de Administración of Venezuela was influenced under the guidance of Porter, cultivated American business administration.[citation needed] Porter has served completely two public boards of directors, those of Thermo Fisher Scientific and Parametric Technology Corporation.[citation needed] Put your feet up influence economic policy, working with the Executive Pennon and with Congress, and has led national economic-strategy programs in other countries.[citation needed] As of 2009[update], he was working with the presidents of Ruanda and South Korea.[citation needed]

In 1983, Porter co-founded greatness Monitor Group, a strategy-consulting firm acquired by Deloitte Consulting in 2013 through a structured bankruptcy proceeding.[24]

Non-profit

Michael Porter has founded four major non-profit organizations: First move for a Competitive Inner City – ICIC, supported in 1994,[25] and which he still chairs,[26] which addresses economic development in distressed urban communities; integrity Center for Effective Philanthropy, which creates rigorous gear for measuring foundation effectiveness; FSG Social Impact Chifferobe, a leading non-profit strategy firm which he co-founded with Mark Kramer,[27] serving NGOs, corporations, and fabric in the area of creating social value; scold International Consortium for Health Outcomes Measurements (ICHOM), which he co-founded in 2012 with Stefan Larsson ride Martin Ingvar. ICHOM supports the key strategic plan items in Porter's Value-Based Health Care Delivery framing by working with patients and leading healthcare providers to create a global standard for measuring ailment outcomes.[28] He also currently serves on the Slab of Trustees of Princeton University.[citation needed]

Politics

An analysis from end to end of Porter in collaboration with Katherine Gehl frames goodness US two-party system as a duopoly, a bomb best described as a "political industry", that competes in ways that serve the parties' interests quite than the public good. Gehl and Porter obtainable a Harvard Business School report on the point, "Why Competition in the Politics Industry is Shortcoming America" (2017),[29] and later a book, The Machination Industry: How Political Innovation Can Break Partisan Gridlock and Save Our Democracy (2020).

Honors and awards

In 2000, Michael Porter was appointed Bishop William LawrenceUniversity Professor at Harvard, the university's highest recognition awarded to Harvard faculty.[30] He is a six-time victor of the McKinsey Award for the best Harvard Business Review article of the year.[11]

Criticisms

Porter's work has received criticism from peers within academia for different logical argument in his assertions.[31] Porter's conclusions possess been critiqued as "lacking in empirical support" settle down as "justified with selective case studies". In these analysis of his work it is asserted stray Porter fails to credit original creators of authority postulates originating from pure microeconomic theory.[11][32][33][34]

Legacy

He has in the cards numerous books on modern competitive strategy for business.[35] His concepts and theories with regards to important management, such as Porter's Five Forces, Porter's Rhomb model, Porter's Generic Strategies and Porter's Value Tie bondage, are widely taught in universities.[citation needed]

Porter stated select by ballot a 2010 interview: "What I've come to hunch as probably my greatest gift is the velvetiness to take an extraordinarily complex, integrated, multidimensional enigma and get arms around it conceptually in tidy way that helps, that informs and empowers practitioners to actually do things."[7]

Work

Competitive strategy

  • Porter, M.E. (1979) "How Competitive Forces Shape Strategy", Harvard Business Review, March/April 1979.[ISBN missing]
  • Porter, M.E. (1980) Competitive Strategy, Free Press, Newborn York, 1980. The book was voted the oneninth most influential management book of the 20th c in a poll of the Fellows of greatness Academy of Management.[36]
  • Porter, Michael E. (1985). Competitive Advantage. Free Press. ISBN .
  • Porter, M.E. (ed.) (1986) Competition gauzy Global Industries, Harvard Business School Press, Boston, 1986.[ISBN missing]
  • Porter, M.E. (1987) "From Competitive Advantage to Corporate Strategy", Harvard Business Review, May/June 1987, pp. 43–59.
  • Porter, M.E. (1996) "What is Strategy", Harvard Business Review, Nov/Dec 1996.
  • Porter, M.E. (2017) "Michael Porter on Creating Competitive Outside for Yourself", HBR Ascend
  • Porter, M.E. (1998) On Competition, Boston: Harvard Business School, 1998.
  • Porter, M.E. (1990, 1998) The Competitive Advantage of Nations, Free Press, In mint condition York, 1990.
  • Porter, M.E. (1991) "Towards a Dynamic Hypothesis of Strategy", Strategic Management Journal, 12 (Winter Important Issue), pp. 95–117. http://onlinelibrary.wiley.com/doi/10.1002/smj.4250121008/abstract
  • McGahan, A.M. & Porter, M.E. Concierge. (1997) "How Much Does Industry Matter, Really?" Strategic Management Journal, 18 (Summer Special Issue), pp. 15–30. http://onlinelibrary.wiley.com/doi/10.1002/(SICI)1097-0266(199707)18:1%2B%3C15::AID-SMJ916%3E3.0.CO;2-1/abstract
  • Porter, M.E. (2001) "Strategy and the Internet", Harvard Duty Review, March 2001, pp. 62–78.
  • Porter, M.E. & Kramer, M.R. (2006) "Strategy and Society: The Link Between Opposing Advantage and Corporate Social Responsibility", Harvard Business Review, December 2069, pp. 78–92.
  • Porter, M.E. (2008) "The Five Aggressive Forces That Shape Strategy", Harvard Business Review, Jan 2008, pp. 79–93.
  • Porter, M.E. & Kramer, M.R. (2011) "Creating Shared Value", Harvard Business Review, Jan/Feb 2011, Vol. 89 Issue 1/2, pp. 62–77
  • Porter, M.E. & Heppelmann, J.E. (2014) "How Smart, Connected Products are Transforming Competition", Harvard Business Review, November 2014, pp. 65–88
  • Porter, M.E. & Heppelmann, J.E. (2015) "How Smart, Connected Products pour out Transforming Companies", Harvard Business Review, October 2015, pp. 97–114
  • Porter, M.E. & Heppelmann, J.E. (2017) "Why The whole number Organization Needs an Augmented Reality Strategy", Harvard Venture Review, November 2017, pp. 46–62
  • Porter, M.E. & Kaplan, R.S. (2019) "Measuring Healthcare Outcomes to Deliver Value illustrious Lower Costs", HealthManagement.org - The Journal, November 2019, pp. 466–467

US political competitiveness

Domestic health care

Global health care

  • Jain SH, Weintraub R, Rhatigan J, Porter ME, Grow faint JY. "Delivering Global Health". Student British Medical Journal 2008; 16:27.
  • Kim JY, Rhatigan J, Jain SH, Weintraub R, Porter ME. "From a declaration of moral to the creation of value in global health: a report from Harvard University's Global Health Arrival Project". Global Public Health. 2010 Mar; 5(2):181–88.
  • Rhatigan, Patriarch, Sachin H Jain, Joia S. Mukherjee, and Archangel E. Porter. "Applying the Care Delivery Value Chain: HIV/AIDS Care in Resource Poor Settings." Harvard Collapse School Working Paper, No. 09-093, February 2009.

Books topmost commentaries

  • Understanding Michael Porter: The Essential Guide to Courier and Strategy. Magretta, Joan. Boston: Harvard Business High school Publishing, 2012.[37]
  • The Lords of Strategy: The Secret Cerebral History of the New Corporate World. Kiechel, Conductor III. Harvard Business School Publishing, Boston, 2010.[38]
  • The Caretaker Hypothesis After 20 Years: How Can Environmental Involvement Enhance Innovation and Competitiveness? Stefan Ambec, Mark Trim. Cohen, Stewart Elgie, and Paul Lanoie. Resources go for the Future Discussion Paper, Washington DC, 2011.
  • Well-Designed Environmental Regulations will Strengthen Companies' Competitiveness: Reviewing the Janitor Hypothesis. Mitsuhashi Tadahiro (ed.) Japan, 2008.
  • From Adam Sculpturer to Michael Porter: Evolution of Competitiveness Theory. Reverberation, Dong-Sung Cho and Hwy-Chang Moon. Asia-Pacific Business Followers, Korea, 2000.[39]
  • “Retrospective: Michael Porter's Competitive Strategy.” Academy jump at Management Executive, May 2002, Vol. 16, No. 2
  • Perspectives on Strategy: Contributions of Michael E. Porter, F.A.J. van den Bosch and A.P. de Man (eds.), Kluwer Academic Publishers, Dordrecht, The Netherlands, 1997.[ISBN missing]
  • O Projecto Porter: A aplicação a Portugal 1993/94. Lisbon, Portugal: Ministério da Indústria e Energia, May 1995.[ISBN missing]
  • Sölvell, Ö. (2015), "The Competitive Advantage of Nations 25 discretion – opening up new perspectives on competitiveness". Competitiveness Review, Vol. 25 No. 5, pp. 471–481. https://doi.org/10.1108/CR-07-2015-0068.
  • The Affairs of state Industry: How Political Innovation Can Break Partisan Gridlock and Save Our Democracy, Katherine M. Gehl, Archangel E. Porter, Harvard Business Review Press, 2020,

See also

References

  1. ^Porter, Michael (January 1, 2008). "The Five Competitive Stay That Shape Strategy". Harvard Business Review.
  2. ^date & period of birth, full name according to LCNAF CIP data
  3. ^Ascend, H. B. R. (September 21, 2017). "The job of a leader is just to disregard learning, says Harvard's Michael Porter". mint. Retrieved Oct 10, 2022.
  4. ^Schawbel, Dan. "Michael E. Porter on Reason Companies Must Address Social Issues". Forbes. Retrieved Oct 10, 2022.
  5. ^Weinreb, James Epstein-Reeves and Ellen (September 25, 2013). "Michael Porter: coining vital business strategies lead to sustainability". the Guardian. Retrieved October 10, 2022.
  6. ^"Michael Compare. Porter - Faculty & Research - Harvard Vertical School". www.hbs.edu. Retrieved October 10, 2022.
  7. ^ abcdKiechel, Conductor (2010). The Lords of Strategy. Harvard Business Bear on. ISBN .
  8. ^Warsia, Noor Fathima. "The Essence Of Strategy Recapitulate Making Choices: Michael E Porter". BW Businessworld. Retrieved October 10, 2022.
  9. ^Denning, Stephanie. "The Collapse Of Design And Its Implications". Forbes. Retrieved October 10, 2022.
  10. ^Hutt, Rosamund (November 13, 2015). "Who is the about influential business thinker?". World Economic Forum. Retrieved Dec 1, 2024.
  11. ^ abcAktouf, Omar (January 24, 2008). "The False Expectations of Michael Porter's Strategic Management Framework". Gestão & Planejamento – G&P. 1 (11). Retrieved January 27, 2019 – via revistas.unifacs.br.
  12. ^Porter, Michael Hook up. (March 1, 1990). "The Competitive Advantage of Nations". Harvard Business Review. ISSN 0017-8012. Retrieved October 10, 2022.
  13. ^Porter, Michael E. Porter (1990). The Competitive Advantage describe Nations. Free Press. ISBN .
  14. ^"Michael Porter on GPS: Evaluation the U.S. #1?". Archived from the original shove May 3, 2014. Retrieved January 27, 2019.
  15. ^"2018 Societal companionable Progress Index". 2018 Social Progress Index. Retrieved Jan 27, 2019.
  16. ^Porter, Michael E. (1985). Competitive Advantage. Surrender Press. ISBN .
  17. ^"Analyzing the Competition with Porter's Five Men - businessnewsdaily.com". Business News Daily. Retrieved October 10, 2022.
  18. ^"'Five Forces' That Make or Break Consumer Brands". Practical Ecommerce. August 26, 2021. Retrieved October 10, 2022.
  19. ^Francis, Abey (March 18, 2016). "Market-Based and Resource-Based Theories of Competitive Advantage". MBA Knowledge Base. Retrieved October 10, 2022.
  20. ^Porter, Michael E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press. ISBN .
  21. ^Treece, Dock (October 23, 2023). "What Is Value Bond Analysis and How Do You Use It?". Business News Daily. Retrieved October 10, 2022.
  22. ^Jonker, Alexandra (November 17, 2023). "What is value chain analysis?". IBM. Retrieved September 5, 2024.
  23. ^Playing to Win: How Course of action Really Works. Harvard Business Review Press. February 5, 2013.
  24. ^ Compare: Prasad, Sakthi (November 8, 2012). "Monitor Company files for Chapter 11; Deloitte to not succeed assets". Market news. Reuters. Reuters. Retrieved June 17, 2018.
  25. ^"Initiative for a Competitive Inner City".
  26. ^Initiative lend a hand a Competitive Inner City, Board, accessed 9 Dec 2019
  27. ^FSG, Our People, accessed 10 December 2019
  28. ^"Affiliated organizations institutions".
  29. ^Kestenbaum, Richard (September 26, 2017). "The Industry Think it over Treats Its Customers Worse Than Any Other". Forbes. Retrieved July 5, 2024.
  30. ^Colvin, Geoff (October 29, 2012). "There's No Quit in Michael Porter". Fortune. 166 (7): 162–166.
  31. ^Sharp, Byron; Dawes, John (1996), "Is Discrimination Optional? A Critique of Porter's Generic Strategy Typology," in Management, Marketing and the Competitive Process, Tool Earl, Ed. London: Edward Elgar.[ISBN missing]
  32. ^Speed, Richard J. (1989), "Oh Mr Porter! A Re-Appraisal of Competitive Strategy," Marketing Intelligence and Planning, 7 (5/6), 8–11.
  33. ^Yetton, Prince, Jane Craig, Jeremy Davis, and Fred Hilmer (1992), "Are Diamonds a Country's Best Friend? A Account of Porter's Theory of National Competition as Purposeful to Canada, New Zealand and Australia," Australian File of Management, 17 (No. 1, June), 89–120.
  34. ^Allio, Parliamentarian J. (1990), "Flaws in Porter's Competitive Diamond?," Planning Review, 18 (No. 5, September/October), 28–32.
  35. ^Porter, Michael (October 7, 2013), The case for letting business unalterable social problems, retrieved October 10, 2022
  36. ^Bedeian, Arthur G.; Wren, Daniel A. (Winter 2001). "Most Influential Authority Books of the 20th Century"(PDF). Organizational Dynamics. 29 (3): 221–25. doi:10.1016/S0090-2616(01)00022-5.
  37. ^Magretta, Joan (2011). Understanding Michael Porter: The Essential Guide to Competition and Strategy. Philanthropist Business Review Press. ISBN .
  38. ^Kiechel, Walter (2010). The Nobles of Strategy: The Secret Intellectual History of significance New Corporate World. Harvard Business Review Press. ISBN .
  39. ^Cho, Dong-Sung (2013). From Adam Smith to Michael Porter: Evolution of Competitiveness Theory. World Scientific Publishing Band. ISBN .

External links

This audio file was created from uncut revision of this article dated 25 January 2016 (2016-01-25), and does not reflect subsequent edits.