Michael Porter

With the emergence of concepts like core competences, the focus of gaining competitive advantages has swung from external environments towards a company’s internal resources (Collis & Montgomery, 2008). It traces the roots of competitive advantage back to present level of resources and capabilities possessed by the company. This leads us to a Resource Based View (RBV) of the company, where firms are considered or viewed as a bundle of heterogeneous resources and capabilities. In this respect,…

LaunchScore was founded in June of 2014 with the idea that small business entrepreneurs will have a better chance at succeeding when provided with scientific market research early on in the entrepreneurial decision making process. Normally, market research requires a considerable amount of resources whether it be money when using 3rd party companies or a lot of time when mining for data on their own. LaunchScore has created a website that eliminates this crucial business pain, but still is…

HSBC’s strategic objectives of value creation and long-term sustainability underpin their strategic priorities which are at the core of their strategic plan. The firm has three main strategic priorities which entail growing the business and dividends, increasing investment in Global emerging markets, and reducing costs while streamlining process and procedures. This strategic plan outlines the procedures HSBC will follow in pursuit of achieving these priorities. Value Creation: HSBC’s objective…

competitive advantage whenever it has an edge over its rivals in securing customers and defending itself against competitive forces (Powell, 2001). Competitive advantage is born out of core competencies that yield the long term benefit to the company. Porter (1985) noted that a core competence as an area of specialized expertise that is the result of harmonizing complex streams of technology and work activity. According to Cross, (1999), competitive advantage can be developed from a particular…

Chapter 1 Questions: 1. What is competitive advantage, and how does it relate to a company’s business model? Competitive advantage is a business concept that describes the attribute allowing an organization to outperform its competitors. In simple terms, organizations having the competitive advantage will outperform their main rival organizations by offering their customers products, services etc. of greater value compared to that of their rivals. These attributes may include lower prices to the…

Firstly, the strategy of any work or business sets out long term and future objectives. The strategy includes different aspects and logistical support to achieve the strategic objectives. This strategy relies on those strategic decisions to achieve sustainable competitive advantage and performance of the Organization. In the following lines we will talk about ensuring strategic importance to the business and all forms of organizations. The four strategic theories properties, will be discussed…

Introduction This is a report aims to examine a new business opportunity namely Drone Racing. We will be identifying business goals and objectives, and how to achieve such goals. Particularly we will be looking into the business’ potential internal and external network, how to leverage such value chains i.e. the operations strategy. And how are we going to measure the overall performance of the business? We will also be identifying risks (and how to control such risks) in all aspects of the…

1. “Leadership through Quality, is the customer” strategy. Xerox reviewed its business strategy that prevailed in the 1980’s. A Strategy Audit that acted as a reality check forced the following mea-culpa: - Xerox was losing significant share of the market that it pioneered in the 1960’s - Competitive entries were putting Xerox’s very survival at stake - When ruling supreme on the market in the 70’s, Xerox “lost sight of the customer” - The mission statement “We succeed through satisfied…

Porter’s National Diamond Model was proposed by Michael Porter, a famous strategic management scientist at Harvard Business School in the US Porter's diamond model is used to analyze why a certain country is more competitive internationally. There are four factors that determine a country's industrial competitiveness. Production factors including human resources, natural resources, knowledge resources, capital resources, and infrastructure. Demand conditions, mainly the needs of the domestic…

competitive environment in which that company operates weather it’s a large or small business. A way to access the competitive environment is the use of Porter’s model also known as Five Forces Analysis. The Five Forces Analysis was developed by Michael Porter of Harvard business school back in the late 1970’s. Ideally this analysis should be done before starting up your business. It can show you the likelihood of success of the company before you start it up. Even if your company is established…