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Understanding Michael Porter: The Essential Guide to Competition and Strategy by Joan Magretta

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A Porter Glossary: Key Concepts

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activities: Discrete economic processes, such as operating a sales force, developing products, or physical delivery to the customer. An activity usually involves people, technology, fixed assets, sometimes working capital, and various types of information. The activities companies perform are the basic units of competitive advantage because they are the ultimate source of both relative costs and the levels of differentiation a company can offer its customers.

barriers to entry: The hurdles a new entrant would have to surmount in order to enter an industry. Low entry barriers (i.e., industries that are easy to enter) ...

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