Abstract: Each year, Booz Allen Hamilton administers the Global Innovation 1000, a survey of the world's 1000 biggest RD even master innovators don't always get it right. Remember the Lisa? Google Wave? One of the keys is a clear, actionable corporate strategy and a thorough understanding of how and where innovation fi ts in that strategy. Few are clearer on the key elements of strategy, or the steps to understanding a company's strategy, than Michael Porter. In a series of books and articles published since 1979, Porter has set forth a structural view of industries that suggest that strategy is both deceptively simple and unimaginably diffi cult. Unfortunately, the infl uence of Porter's work can be seen as much in the diffuse use of some of his key terms-differentiation, competitive advantage, value chain-as in the actual application of his ideas. Joan Magretta, in her recently released Understanding Michael Porter (2012), sets out to remedy some of the misreadings of Porter by distilling his works into a coherent explanation of Porter's core concepts: the fi ve forces model, the value-chain model, and competitive advantage. …
Publication Year: 2012
Publication Date: 2012-05-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 20
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