activities they will be able win new business‚ increase customer retention‚ differentiate themselves from the competitors and generate positive publicity and media opportunities due to media interest in ethical business activities. In this article‚ Michael Porter and Mark Kramer propose a fundamentally new way to look at the relationship between business and society that does not treat corporate growth and social welfare as a zero-sum game. They introduce a framework allows business to identify the social
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across firms for the purpose of determining where competitive advantages lie. Developed in the early 1980s by Harvard Business School Professor Michael Porter in his book Competitive Advantage‚ the value chain consists of two main components: primary activities and secondary activities. A generic‚ firm specific value chain is shown in figure 1. Figure 1: Porter Value Chain‚ 1985 Support Activities: These consist of activities that do not directly produce goods or services. Infrastructure activities
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government to reign back on its spending and so the energy subsidy and help with R&D that the tile industry used to enjoy have been removed. T Company will now have to rely on other sources of competitive advantage. Required: (a) With reference to Michael Porter’s diamond model‚ describe the key determinants of international competitive advantage that T Company may need to depend on to sustain its competitive position in international markets.
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Name: Pham Quang Tu Class: advanced accounting ID : CQ534276 Michael Eugene Porter is a leading authority on company strategy and the competitiveness of nations and regions. Michael Porter’s work is recognized in many governments‚ corporations and academic circles globally. He chairs Harvard Business School’s program dedicated for newly appointed CEOs of very large corporations. Michael Porter’s core field is competition and company strategy. He is generally recognized as the father of the
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of privatization and globalization leading to difference in company’s strategies. A strategy can be defined in many ways and has many different viewpoints. This article aims to explain and critically evaluate the approaches of Jay Barney and Michael E. Porter‚ two leading strategy theorists‚ in-turn explaining the basis leading to the difference. What is Strategy & Competitive Advantage? Strategy is the creation of unique and valuable position involving a different set of activities.1
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a global value chain has played an important role in the development of multinational. This essay will focus on the evolution of the value chain. Body Since the 1980s‚ many scholars have put forward the theory of the value chain. Professor Michael Porter of the Harvard Business School in 1985‚ pointed in the "Competitive Advantage": Every enterprise is a collection of various activities in the design‚ production‚ sales‚ send‚ and auxiliary products process‚ all of these activities can be indicated
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|Determine the primary activities and secondary activities of your organisation. Make a conscious| |decision on whether your organization should compete by the least cost strategy or the product | |differentiation strategy. Determine the cost drivers of the organisation. Provide strategic | |suggestions on how your organization can use this information to compete. | | | |
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1991; Porter‚ 1996). Regardless of the approach‚ attaining both customer- value and product differentiation are the two determinants of a successful business strategy (Barney‚ 1991; Porter‚ 1996; Woodcruff‚ 1997). The positioning approach‚ often referred to as the “outside-in” approach‚ starts by looking at challenges posed by the external environment. It aims at establishing a position that best meets the competitive forces within the organisations industry (Porter‚ 1980; Porter‚ 1985). Michael Porter
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other globalization factors brings further complexity and encounters‚ hence urgency of more robust leadership‚ strategy and creative approaches is at forefront than anytime in the history; to struggle and compete this dynamic challenges. In the Michael Porter (1996) literature ‘what is strategy’; one of the concept of the organization strategy can be understood as being “different” from the competitors and so with the different end outcome and added value to the organization as a long-term advantages
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The Five Forces Framework and Competitive Strategy In this framework due to Michael Porter there are two high-level stages in the creation of competitive strategy‚ each stage corresponding to a high-level determinant of profitability mentioned in the previous section. The first stage is the assessment of the attractiveness of the industry in which a given company is embedded based on a structural analysis of the industry. In this stage‚ called the five forces framework‚ five forces that influence
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