Key Insights from "Competition, Competitive Advantage, and Clusters - The Ideas of Michael Porter"
- Porter's Five Forces Model: A tool for analyzing the competitive landscape of any business, involving threat of new entrants, bargaining power of suppliers, threat of substitute products or services, bargaining power of buyers, and rivalry among existing competitors.
- Value Chain Analysis: A method of identifying and examining each part of a business's activities and how they add value to the product or service, so as to maximize competitive advantage.
- Competitive Advantage: The unique value proposition a company offers to its customers that sets it apart...
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