PORTER'S VIEW ON BUSINESS STRATEGY: 2
Five competitive forces model: 2
Limitations of Five Forces Model: 5
GENERIC STRATEGIES 5
Limitations of Generic Strategies 7
First praise is to Allah, the Almighty, on whom ultimately we depend for sustenance and guidance. I would like to express my gratitude and appreciation to all those who gave me the possibility to complete this assignment.
I am equally grateful to my lecturer PM Dr Azman Che Omar. He gave me moral support and guided me in different matters regarding the topic. He has been very kind and patient, whilst suggesting to me the outlines of this assignment, and correcting my doubts. I thank to him for his overall support.
A special thanks to my friends, who helped me to assemble the parts and gave suggestion about this assignment. Last but not least, I would like to thank to my parents and family who understand the importance of this assignment.
My similarity index is not more than 50%.
The strategic management has established and developed itself as an independent and different field of study in the 1950s and 1960s. The discipline draws from earlier thinking and texts on 'strategy' dating back thousands of years. The significance of this discipline has been increasing rapidly due to its role in an effective and efficient management. On the other hand, this field of management is very important for academicians who are looking for the rationality along with the reasons behind a high performance of a firm at marketplace.
This assignment is aims to identify and analyse the contributions of Michael Porter to the field of strategic management. Michael Porter was born on 23 May 1947. He is the Bishop William Lawrence University Professor at The Institute for Strategy and Competitiveness, based at the Harvard business School. He chairs Harvard Business School's program dedicated for newly appointed CEOs of very large corporations.
Michael Porter is leading authority on competitive strategy and the competitiveness and economic development of nations, states, and regions. The major work can be identified by Michael Porter are Porter's five forces analysis (1980), cluster management, value chain analysis (1985), generic strategies (1985), Diamond Framework. Furthermore, he conquered of work in wide areas of strategic management as a writer he has authored/ co-authored and edited more than 17 books. Besides that, he has made the contributions through 100 articles, and has acted as a consultant to the many business organizations and governments globally. He is regarded as one of founding fathers of strategic management, as a discipline (Radian, 2009).
PORTER'S VIEW ON BUSINESS STRATEGY:
Based on the analysis of Porter's writing, it can be shown that they are concerned with the business level strategy. He has contributed a numbers of meaningful and impressive articles through his books...