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Michael Porter

economist, mechanical engineer, military flight engineer, university teacher

1947

Michael Eugene Porter is an American businessman and professor at Harvard Business School. He was one of the founders of the consulting firm The Monitor Group and FSG, a social impact consultancy. He is credited with creating Porter's five forces analysis, a foundational framework in strategic management that remains widely used in both academia and industry. He is generally regarded as the father of the modern strategy field. He is also regarded as one of the world's most influential thinkers on management and competitiveness as well as one of the most influential business strategists. His work has been recognized by governments, non-governmental organizations and universities.

All Quotes by Michael Porter

“Health care historically has been a very siloed field that's organized around medical specialties - urology, cardiac surgery, and so forth - and around the supply of these specialty services. The patient is the ping-pong ball that moves from service to service.”
— Michael Porter
“I teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it's the best perch... because most of my work crosses boundaries.”
— Michael Porter
“If people in the organization don't understand how a company is supposed to be different, how it creates value compared to its rivals, then how can they possibly make all of the myriad choices they have to make? Every salesman has to know the strategy — otherwise, he won't know who to call on. Every engineer has to understand it, or she won't know what to build.”
— Michael Porter
“The best CEOs I know are teachers, and at the core of what they teach is strategy.”
— Michael Porter
“The essence of formulating strategy is relating a company to its environment.”
— Michael Porter
“Low cost relative to competitors becomes the theme running through the entire strategy, though quality, service and other areas cannot be ignored.”
— Michael Porter
“The firm achieving focus may also potentially earn above-average returns for its industry. Its focus means that the firm either has a low cost position with its strategic target, high differentiation, or both.”
— Michael Porter
“The grandfather of concepts for predicting the probable course of industry evolution is the familiar .”
— Michael Porter
“Early entry is appropriate when the following general circumstances hold:”
— Michael Porter
“Quasi-integration is to use debt or equity investments and other means to create alliances between vertically related firms without full ownership.”
— Michael Porter
“The essence of strategy is choosing what not to do.”
— Michael Porter
“There's a fundamental distinction between strategy and operational effectiveness. Strategy is about making choices, trade-offs; it's about deliberately choosing to be different. Operational effectiveness is about things that you really shouldn't have to make choices on; it's about what's good for everybody and about what every business should be doing.”
— Michael Porter
“The success of a strategy depends on doing many things well – not just a few – and integrating among them.”
— Michael Porter