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Strategy (from Greek στρατηγία stratēgia, "art of troop leader; office of general, command, generalship" [1]) is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. [2]
Porter's Three Generic Strategies. In 1980, Michael Porter developed an approach to strategy formulation that proved to be extremely popular with both scholars and practitioners. The approach became known as the positioning school because of its emphasis on locating a defensible competitive position within an industry or sector.
Michael Porter wrote in 1980 that formulation of competitive strategy includes consideration of four key elements: Company strengths and weaknesses; Personal values of the key implementers (i.e., management and the board); Industry opportunities and threats; Broader societal expectations. [8]
The hypothesis was formulated by the economist Michael Porter in an article in 1991. [ 1 ] The hypothesis suggests that strict environmental regulation triggers the discovery and introduction of cleaner technologies and environmental improvements, the innovation effect , making production processes and products more efficient. [ 2 ]
The resource-based view (RBV), often referred to as the "resource-based view of the firm", [1] is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
The matching takes place through strategy and it is therefore vital that the company has the actual resources and capabilities to execute and support the strategy. Strategic fit can be used actively to evaluate the current strategic situation of a company as well as opportunities such as mergers and acquisitions (M&A) and divestitures of ...
Porter's four corners model is a predictive tool designed by Michael Porter that helps in determining a competitor's course of action. Unlike other predictive models which predominantly rely on a firm's current strategy and capabilities to determine future strategy, Porter's model additionally calls for an understanding of what motivates the competitor.
Written by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School, and Mark R. Kramer, of the Kennedy School at Harvard University and co-founder of FSG, [3] the article provides insights and relevant examples of companies that have developed deep ...