The Evolution of Business Strategy
Strategy is about competing successfully. More specifically, it is about finding a way to beat present and potential competitors through superior execution while making a profit at the same time.
The theory of business strategy has undergone profound changes in the past 50 years. Exhibit A.1 shows how different fields within strategic theory have converged to produce today’s sophisticated approaches.
The Influence of Porter
The work done by Michael Porter in the 1980s, notably in his book Competitive Strategy, stands as a milestone in the development of business strategy. It marks a shift away from corporate planning toward strategy formulation. Porter introduced the concept of generic strategies to ...