About Competitive Advantages: Creating and Sustaining Superior Performance by Michael E. Porter
This book looks in-depth at the foundations of building a competitive advantage over the business competition. Competitive Advantage introduces a new way of thinking about what a company does. Porter shows how competitive advantage can be found through the efforts of the company, but also the efforts of the company’s customers. Competitive Advantage also provides the tools to build a strategy that works and set yourself apart from the opposition. Competitive Advantages has helped countless companies and business school students understand where competition comes from.
Why Cydcor Reviews recommends this book to future leaders:
A competitive advantage is the key to a company’s performance in different markets. This is very important in today’s global markets where companies must compete against others around the world. The book explains how a business can build and sustain a competitive advantage. In particular, the book bridges the gap that many companies have between creating a strategy and implementing it. The book is a critical read for leaders who play a part in their business’s strategy and for students studying strategic management.
Our favorite part:
The book highlights the need for every aspect of a company to play a role in creating a competitive advantage. Production, marketing, finance, human resources, and others all play essential roles for a business. Porter describes how a firm can put the three generic competitive strategies of leadership, differentiation, and focus into practice. Even if you’re not a business-school-type, there is much value to find in this book. It’ll also give you a useful framework for studying what your business is doing right and wrong, where it’s vulnerable, and how it relates to the rest of the market. This is key to really find a competitive advantage.