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Competitive Strategy
Now nearing its 60th printing in English and translated into nineteen languages, Michael E. Porter’s “Competitive Strategy” has transformed the theory, practice, and teaching of business strategy throughout the world. Electrifying in its simplicity – like all great breakthroughs – Porter’s analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies – lowest cost, differentiation, and focus – which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and presents a whole new perspective on how profit is created and divided.
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The proven principles you’ll find in this book will help you lay the groundwork for a thriving, competitive enterprise. When love is part of your organization’s framework and operationalized in its culture, employees and customers feel genuinely valued. Employees who are passionate about the work that they do are more loyal, innovative, creative, and inspired, and that translates to great customer experience. They don’t serve others out of obligation, but because of a genuine desire to improve people’s lives. And when customers reciprocate by loving your products, your services, and your people, that’s when something great happens. That’s when you get loyalty. That’s when you get raving fans. It’s a refreshingly human way of doing business.
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