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Competitive Strategy, by Michael Porter.   Warren Buffett, the most successful investor of our age, once said that the key to investing was to determine the competitive advantage of a company and the durability of that advantage.  But how does one go about doing this?  Michael Porter, a Harvard professor and sometime consultant, provides such a methodology.  Specifically, Porter analyzes how industries, and specific companies in such industries, gain and maintain competitive advantage.  Porter describes in detail the forces that drive industry competition--the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products and the rivalry among existing firms.  Further, he highlights the strategies which can be used to deal with those threats, such as cost leadership, product differentiation or focus.  Porter provides an excellent framework for analyzing industries and businesses to determine if they possess and can maintain competitive advantage, thus giving investors an invaluable tool for successful investing.

ISBN: 0684841487
Format: Hardcover, 396pp
Pub. Date: June 1998
Publisher: Simon and Schuster Adult Publishing Group

 

 

 

 

 

"Perhaps no framework has had a greater influence on management thinking than the one developed by Michael E. Porter in his seminal work, Competitive Strategy."

Alfred Rappaport