He’s been world’s leading business thinker for three decades. His work on strategy forms the foundation-stone of business-school courses the world over. Business Gurus and prime ministers beat a path to his door.
Michael E. Porter, Harvard University professor, explains why business leaders must focus on shared value–creating products and services that benefit not only the company but also society.
“This graphic demonstrates Michael E. Porter’s concept of resourced based competitive advantage. A resource based view emphasizes that a firm utilizes its resources and capabilities to create a competitive advantage that ultimately results in superior value creation.
The graphic depicts two individuals about to participate in a sumo wrestle match. We clearly see that the physical dynamics between the two males in the picture are obviously disproportionately matched. The boy in the foreground is small, slender and non-muscular. The other man is visibly much larger and stronger than his opponent. He is clearly more appropriately suited to this activity. This is a clear connection to the concept of resourced based competitive advantage. The one party has obvious dominant resources over their competitor. In a business environment, this would produce a competitive advantage. It allows the more appropriately suited party to outperform their competitors due to their superior capabilities and attributes which in turn provides a clear advantage.
A second supporting element of the graphic that conveys the concept of competitive advantage is the idea of sport. The objective in any sport is to demonstrate your superior skills in order to dominate your opponent and win.”
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