BUSINESS

Michael Porter's Contribution in the Field of Strategic Management

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Michael Porter's Contribution in the Field of Strategic Management

Using relevant theories, concepts and examples, critically assess Michael Porter's contribution to the field of strategic management.

Introduction

In the above essay we shall study Michael Porter's contribution to the field of strategic management. We will critically anaylse the concepts and theories he presented and evaluate them in our own way studying details of them.

As one of the most influential experts in the field of management, Porter is largely defined the main directions of research competition especially in a global context, proposed models and methods for the study. He was able to link the issues of the development strategy of the company and applied microeconomics, which were previously considered independently of each other (Guido & Wooldridge, 1990).

According to Porter, competitive strategy development is reduced to a clear statement of what should be the objectives of the enterprise, what tools and steps needed to achieve these objectives, what methods will be the company to compete.

Discussion

Micheal Porter's Contribution to Strategic Management

Michael Porter was born on May 23, 1947 in Michigan in the family of an officer of the American army. He graduated from Princeton University, then earned a master's degree in Business Administration and Ph.D. from Harvard University, and completing each phase of training with honors. Since 1973 he has been working in the business school at Harvard University, since 1981 - as a professor. He lives in Brookline, Massachusetts.

Throughout his academic career, Porter studied the competition. He was a consultant to many leading companies such as T & T, DuPont, Procter & Gamble and Royl Dutch / Shell. And ThermoQuest Corp. In addition, Porter worked as a consultant and adviser to the governments of India, New Zealand, Canada and Portugal, is now a leading expert on the development of a regional strategy for the presidents of several countries in Central America.

As one of the most influential experts in the field of management, Porter is largely defined the main directions of research competition especially in a global context, proposed models and methods for the study. He was able to link the issues of the development strategy of the company and applied microeconomics, which were previously considered independently of each other (Robert, 1990).

He has written 17 books and over 60 articles. In his main book "Competitive Strategy" Porter suggested that revolutionary approaches to the development strategy of the enterprise and the individual sectors of the economy. This book is based on a careful study of hundreds of companies in various business fields. According to Porter, competitive strategy development is reduced to a clear statement of what should be the objectives of the enterprise, what tools and steps needed to achieve these objectives, what methods will be the company to compete. Speaking of strategy, managers and consultants often use different terminology. Some speak of a mission or problem, meaning goal, while others - the tactics, referring to ongoing operations or industrial ...