On Competition Review

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On Competition ReviewMichael E. Porter is a Harvard Business School professor and a leading authority on competition. This book consists of three parts - Competition and Strategy: Core Concepts, The Competitiveness of Locations, and Competitive Solutions to Societal Problems - and each of these parts consists of 4-to-5 Harvard Business Review articles which were published between 1979 and 1998. "The study of competition, in its full richness, has preoccupied me for two decades."
In Part I, the five HBR articles outline Porter's strategic concepts. "I have sought to capture the complexity of what actually happens in companies and industries in a way that both advances theory and brings theory to life for practitioners. My goal has been to develop both rigorous and useful frameworks for understanding competition that effectively bridge the gap between theory and practice." In the 1979-article 'How Competitive Forces Shape Strategy', Porter introduces the monumental five competitive forces (from existing competitors, new entrants, customers, suppliers, substitution). This article has had an extensive impact on the field of strategy and is still a starting point for strategic management at any MBA-course. 'What is Strategy?' was published in 1996 and is, in my opinion, a reply to all the critics of his frameworks and models. The 1985-article 'How Information Gives You Competitive Advantage', Porter and co-author Victor Millar write how information technology influences competition. The current impact of Internet and e-commerce provide excellent examples for this article. In the 1993-article 'End-Game Strategies for Declining Industries', Porter lines up with Kathryn Rudie Harrigan to discuss the last stage/final phase of a industry. This articles is largely based on Harrigan's 1980 book 'Strategies for Declining Businesses' and is a chapter in Porter's 1980-book 'Competitive Strategy'. Part I is finalised with the magnificent 'From Competitive Advantage to Corporate Strategy'. This article is truly a classic and discusses the radical rethinking of corporate strategy. "Corporate strategy is what makes the corporate whole add up to more than the sum of its business parts." This article is the basis of his book 'Competitive Advantage'.
In Part II, Porter kicks off with 'The Competitive Advantage of Nartions', which is also one of the titles of his books. In this 1990-article Porter argues that in a world of increasingly global competition, nations have become more, not less, important. In 'Clusters and Competition' (1998), Porter expands on the theme and discusses the new economics of competition - clusters. "A Cluster is a geographically proximate group of interconnected companies and associated institutions in particular fields, linked by commonalities and complementarities." Examples are the Italian fashion industry, the California Wine cluster, Silicon Valley's venture capital industry, and Massachusetts IT industry. In the next article, 'How Global Companies Win Out' (1992), Porter, Thomas Hout and Eileen Rudden discuss what a global industry is and how global companies can win out. In the next article, 'Competing Across Locations' (1995), returns on this subject and provides additional insights on global strategy, including a general framework.
Part III includes the latest works of Porter. Porter discusses environmental regulation and competition ('Green and Competitive', 1995), with a great case study of the Dutch flower industry, and the impact of these regulations on competition and industries. In the next article ('The Competitive Advantage of the Inner City', 1995), Porter introduces the economic distress of America's inner cities, whereby "the real need - and the real opportunity - is to create wealth" . In the 1990s, Porter also turned more towards government institutions. He discusses the American health care ('Making Competition in Health Care Work', 1994) and, the according to Porter, America's failing capital investment system ('Capital Disadvantage', 1992).
The advantage of this book is that it provides the a quick insight into the ideas and essential points of Porter's books 'Competitive Strategy', 'Competitive Advantage', and 'Competitive Advantage of Nations'. Part I and Part II are now essentials in the field of strategy and competition with fantastic frameworks and models. Part III are Porter's latest articles and discuss the connection between social issues and competition. A great book that is good to read (simple US-English).On Competition Overview

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The Only Sustainable Edge: Why Business Strategy Depends On Productive Friction And Dynamic Specialization Review

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The Only Sustainable Edge: Why Business Strategy Depends On Productive Friction And Dynamic Specialization ReviewIf you feel that you miss (...), Enron and the other excesses of the the late 90's, please buy this book. Otherwise, don't.
Hagel and Brown are two well pedigreed authors, and they attempt to explain their view on what is the next frontier in corporate strategy. The answer is that value of the firm lies not inside the firm but at its edge. The edge is a broad metaphor for geography (India, China and Brazil), maturity (old econ and new economy), physical edge (inside the firm as well the partners outside).
The key insights from this book are
-Two types of forces have converged to squeeze margins -Informational technology, and Public policy shifts. Try telling this to the 500,000 people who have lost their jobs in the valley.
-Three key elements of the new model for business strategy are
-A. Reconveive sources of strategic advantages by accelerated capability building across boundaries. This implies - Dynamic specialization, Connection and Coordination of 3rd parties and Leveraged capability building. Elaborated using the Li & Fung, Hong Kong retailer example.
-B. Master new mechanisms to build advantages - This implies focusing on efficiency as well as effectiveness, process outsourcing and offshoring, loose coupling of extended business processes and production friction
-C. Adopt new approaches for developing strategy
-Given this framework, conduct a diagnostic that inventories the key initiatives for the last 12 months, as well as the proposed initiatives for the next 5 years. At the end of this diagnostic, you should be able to identify what activities you can offshore and outsource and therefore you can dynamically specialize.
-Process networks is predicated on loose coupling of processes and Productive friction. Productive friction can be decomposed into four factors, Performance Metrics, People, Prototypes, and Pattern Recognition.
-Process networks are enabled by performance fabrics and IT is critical in achieving a solid performance fabric. Web services is critical in implementing this new fabric.
Hagel and Brown have transformed a solid Harvard Business Review paper into a 200 page book that does not do sufficient justice to the expended ink. The approach is geared towards policy wonks at think-tanks rather than day-to-day business manager trying to compete in a flattening world. The authors do not provide prescriptive advise that can be implemented easily. Their case examples are shallow and do not reflect the points well. I would have preferred if the authors take their core argument and apply it to a business unit within a Fortune 500 organization and experiment with their strategy before writing this book.
To the busy executive, one less book that is cluttering our target reading lists.
Your searching for practical strategic ideas,
Fred "Grounding" Sanford
The Only Sustainable Edge: Why Business Strategy Depends On Productive Friction And Dynamic Specialization Overview

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Virtual Teams: People Working Across Boundaries with Technology Review

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Virtual Teams: People Working Across Boundaries with Technology ReviewI purchased this book because I was intrigued. In much of the work I do I am a member of "virtual" teams. That is, I often am some distance apart from the people I am working with.
I found the book to be a slow read, with nuggets of information separated by deserts of fluff. The first half of the book is filled with vague ramblings about how the information age has changed the way that teams work and with case studies that illustrate how the forming of virtual teams has helped various companies solve difficult problems.
In the second half, the book begins to pick up. In a chapter entitled "Teaming with People" the authors discuss team dynamics, including essential roles with a team, how teams form and which aspects of team dynamics are especially subject to the stresses of distance communication.
The authors suggest that the beginning and closing phases of most projects are the most stressful on team members and that extra effort be exerted at the beginning phase of the project to bring the core project team members together, even if they are geographically separated. This, say the authors, will help build interpersonal relationships that can hold the team together in times of stress.
There are several optimum team sizes. 3 to 5 is the size of a core team, 5 to 25 the size of a "team family" and 25 to 200 the size of a "team camp". In the authors' opinion, any team larger than 5 people will naturally divide into sub-teams.
The authors also point out the value of rewarding teams. Making teams compete, or making them completely independent of one another has little value for the company. Cooperative goals can encourage and motivate all of the teams, while competition can demoralize them.
Finally, the authors talk about starting up teams and provide a checklist of some elements such as a customer and a management sponsor which are essential to any team's success.
Overall, I found the book to have some good information on forming and maintaining teams, and what to do when those teams are not located in the same physical location. There is some fluff, I feel, and the book could easily be half its current length without sacrificing much.Virtual Teams: People Working Across Boundaries with Technology Overview

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The New World of Wireless: How to Compete in the 4G Revolution Review

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The New World of Wireless: How to Compete in the 4G Revolution ReviewExcellent read for corporate managers, investors and business strategists on how 4G will impact consumer and corporate behavior, change market dynamics. Not overly technical, good 1000-10,000 foot view.The New World of Wireless: How to Compete in the 4G Revolution Overview

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Competing for the Future: How Digital Innovations are Changing the World Review

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Competing for the Future: How Digital Innovations are Changing the World ReviewDr Kressel has captured the disruptions in society caused by fundamental shifts in the technology base dating from 1948 with the invention of the transistor and culminating in the recent emergence of IP networks as the dominant technological force behind our data and communications network. The early chapters deal with the history and impact of these important technologies and for those readers with a need to understand these technologies in greater detail, appendices are provided that take those interested into a journey of discovery into the important fundamental technology discontinuities such as Integrated Circuits, their scalability and limits, logic gates, semiconductor memories, semiconductor lasers and LEDs, photodetectors, fiber optics, and LCD displays which are used throughout the networks of today. These early parts of the book also point out the importance of the protocols that are used to transport data as well as the underpinning software methods that are used to build the networks without which engineers would not have been able to build today's Internet. Again, appendices are provided on these topics for the enquiring reader.
The book takes the reader through the early technology shifts that have enabled the knowledge economy and the author has mapped these changes to very basic but nonetheless revolutionary shifts in software, semiconductors, wireless and fiber optics. These dislocations taken together with the emergence of the venture capital industry and the entrepreneurial spirit fostered in the technology centers in Silicon valley and elsewhere, provided the mix for the revolutionary data networks to emerge which would have far reaching societal changes in later years. The book describes this journey and along the way the author draws our attention to the demise of the industrial central laboratories that nurtured the early inventions that gave birth to these technology dislocations and whose gradual disappearance in the 1960s and 1970s released large numbers of very bright scientists and engineers into both government laboratories and most importantly, small business start-ups. These in turn provided the incubators that gave birth to such technology behemoths as DEC, Intel and others.
Dr Kressel then shows us that the improvements in the secondary education system in the United States fuelled these new companies and together with significant venture capital, nurtured a large number of new companies. These companies had the heft to eventually produce the high performance optical systems, computers and servers necessary to populate early distributed data networks. These were born out of US government-sponsored activities to devise resilient data networks that could survive potential threats emerging from the Cold War of the 1970s and 1980s. These networks eventually were to become the Internet, a pervasive network that now has affected us all and which provides us with the infrastructure today to instantly communicate on a global scale and to provide an easily searchable database that enriches both our work and home lives. The author shows how the technology has disrupted many industries and has resulted in the loss of many companies who have not been able to respond to change in a timely fashion. He demonstrates that the Internet has given birth to countless companies that capitalize on the network to provide new services and industries but also points out that it also threatens today's telecommunication companies since the high available bandwidth agnostic to the flow of voice, data and video provides new opportunities for a new breed of service providers to bypass the legacy voice networks.
These technology shifts also bring about the emergence of knowledge and capability in other parts of the world and provide the infrastructure to transfer the manufacture of these key products and in some cases, their design. This in turn could threaten the developed economies by hollowing-out the industrial sector of these developed nations and stimulating the economies of the developing nations, which now can service their own needs. Dr Kressel concludes by pointing out that developed economies must develop internal policies that protect their important leading products and their manufacture while still providing a competitive framework that fosters new products to renew the cycle.Competing for the Future: How Digital Innovations are Changing the World Overview

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SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth, and Social Good Review

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SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth, and Social Good Review
In recent years, Rosabeth Moss Kanter has written several books in which she focuses on individuals as well as groups that consistently produce peak performances. She understands and appreciates how difficult it is to become #1 in the given competitive marketplace and how even more difficult it is to maintain that ranking. As Tom Peters and Robert Waterman as well as Jim Collins and others have noted, that is true of major corporations and it is also true of athletic teams. In Confidence, Kanter correctly praises women's varsity basketball coach Pat Summit at the University of Tennessee. Since 1974, her teams have won eight national championships and twice won consecutive championships (1996-1998 and 2007-2008) but Tennessee is one of very few that have ever done so. Eight of the last ten NFL Super Bowl champions failed to make the playoffs the following year and only two teams during the same period won consecutive titles, the Denver Broncos and the New England Patriots. Thirty-eight of 43 other winners couldn't repeat.
My point is, that becoming a "SuperCorp" (however defined), especially in the current economy, is an admirable achievement but does not necessarily ensure a permanent position. That is why Reggie Jones selected Jack Welch to succeed him as CEO and then told him to "blow up" GE. That is why Toyota continues to generate so many suggestions to improve its incomparable production system and incorporated more than two million of them last year. That is why not once or twice but at least three times thus far, Tiger Woods has made radical changes in his swing (i.e. grip, stance, take-away, and/or follow-through) because he competes only against himself, no one else, and realized that improvements were needed. I suspect that, not having won a major this year, he continues to make additional refinements.
I have read and reviewed all of Rosabeth Moss Kanter's previously published books and consider this one to be her most informative, hence most valuable thus far. In it, she focuses on a number of "vanguard" companies and explains how each literally leads the way in terms of demonstrating how" vanguard companies create innovation, profits, growth, and social bond. The "supercorps"include Banco Real, CEMEX, IBM, ICICI Bank, Omron, Procter & Gamble, Publicis Groupe, and Shirshan Bank. All of them have been literally "in the forefront of an action, an example of change to come" in terms of both social purpose and profitable enterprise, not either/or. To a much greater extent than ever before, Kanter provides within her lively narrative reader-friendly check lists that facilitate, indeed expedite frequent review of key points later. For example:
Four general forces to which vanguard companies respond (Pages 46-47)
Six advantages created with strategic use of values and principles (58-60)
Five advantages when social purpose is at the forefront (111-113)
Nine tenets of innovation initiatives that make a difference (211-212)
Seven guidelines that summarize vanguard practices (231-232)
"Ten Things That Anyone Can Do to Be in a Vanguard" (259-260)
Five characteristics of vanguard leadership (261-262)
Unlike most other business books whose authors heavily rely on lists of hollow bullet points, Kanter's checklists include detailed annotations. For example, "Relationships: Persuasion and diplomacy" is one of the characteristics of vanguard leadership. Kanter suggests that such a leader "Can communicate, listen, and inspire. Likes to connect, to collaborate, and to find solutions that are good for many people. Can enlist people in projects and motivate volunteers. Is partnership oriented, seeing opportunities to leverage resources by tapping networks. Work as an effective, enthusiastic mentor." However different they may be in most other respects, all of the CEOs of vanguard companies she discusses in this book - Fabio Barbosa (Banco Real), Lorenzo Zambrano (CEMEX), Sam Palmisano (IBM), K.V. Kamath (ICICI Bank), Hisao Sakuta (Omron), A.G. Lafley (Procter & Gamble), and Maurice Lévy (Publicis Groupe) -- possess highly-developed skills for establishing and nourishing relationships within and (especially) beyond their organization. Their effectiveness is explained by ability to see things in context and understand complex interactions between and among many variables. They have a bias for action and are results-driven when seeking solutions for their own organization as well as for the clients it is privileged to serve. They have what Daniel Goleman correctly describes as "emotional intelligence": exceptional self-awareness (of weaknesses as well as strengths), empathy, respect for individuality and principled dissent, and a sincere delight in others' achievements. They are also values-driven, take very seriously their fiduciary responsibilities as a steward of resources, and recognize, indeed embrace a higher calling than merely making money.
In vanguard companies, Kanter points out that competences and capabilities such as these are by no means limited to CEOs or only to executives at the C-level. On the contrary, they are developed in those who occupy positions throughout the enterprise, at all levels and in all areas. Kanter concedes that the vanguard model "turns organizations upside down and inside out. They become less hierarchical and more driven by flexible networks. They become more open and transparent to the outside world while bringing society and its needs inside. As an ideal and an aspiration, the vanguard model attempts to reconcile contradictions: to be big but human, efficient but innovative, respecting individual differences while seeking common ground, global in thinking but concerned about local communities." Given what Kanter characterizes as the "inexorable march of global change," organizations really have no choice but to adopt and then adapt the vanguard business model. The bad news is that that process will be immensely complicated and very, very difficult to complete. The good news is that it can be done, as the exemplary companies in this book clearly indicate.SuperCorp: How Vanguard Companies Create Innovation, Profits, Growth, and Social Good Overview

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