02.04 Management - Presentation Summary PDF

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Michael Porter Biography Michael Porter is an economist, researcher, author, advisor, speaker and teacher. This biography profiles his childhood, career, academic contribution, works, life, achievements and timeline.

Quick Facts Also Known As Famous as Nationality Born on Zodiac Sign Born in Education Founder/Co-Founder

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Michael Eugene Porter Economist, Researcher, Author, Advisor, Speaker and Teacher American 23 May 1947 AD Gemini Ann Arbor Harvard University, Harvard Business School, Princeton University Initiative for a Competitive Inner City, Center for Effective Philanthropy, FSG-Social Impact Advisors, Monitor Group - McKinsey Award for the best Harvard Business Review article of the year

One of most influential management gurus of this century, Michael Porter is widely regarded as the Father of Corporate Strategy and Management. A testimony of the fact lies on the shelf of every successful CEO of the world – his books which are a magnum opus in the field of competitive and

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company strategy. Serving as university professor at Harvard Business School, Porter’s strategies have found universal acceptance. Furthermore, his ideas have been included in the curriculum of every prestigious business school of the world. He is responsible for building the foundation for modern business strategy courses. He has also served as the strategic adviser to many successful and leading U.S. companies and other international companies. Over the years, he has authored over 18 books and written various articles on business competition, competitive strategy and advantage. Additionally, he has been a guest columnist for the Wall Street Journal and has authored more than 125 articles on business strategy. Some of his writings include, ‘How Competitive Forces Shape Strategy’, ‘Competitive Strategy’, ‘Redefining Health Care: Creating Value-Based Competition On Results’, and ‘Strategy and the Internet’.

Childhood & Early Life: Michael Eugene Porter was born on May 23, 1947 in Ann Arbor, Michigan, United States. He graduated from Princeton University in 1969 with BSE honours in mechanical and aerospace engineering. It was at Princeton that he was elected to Phi Beta Kappa and Tau Beta Pi. In 1971, he graduated from the Harvard Business School, obtaining an MBA with a high distinction. Two years henceforth, he secured a Ph.D. in business economics from Harvard University.

Career: In 1979, as an economist and associate professor at the Harvard Business School, he authored, ‘How Competitive Forces Shape Strategy’. It was published by the Harvard Business Review. The book served as the stepping stone for his famous Five Forces framework. In 1980, he came out with the book titled, ‘Competitive Strategy’, which was published by New Press, New York. This was one of his most acclaimed books. In 1985, he authored the book, ‘Competitive Advantage’, which was published by New Press, New York. The book highlighted the strategies employed to tackle competition and beyond. From 1986 to 1987, he published his books on business competition and strategy. The books included, ‘Competition in Global Industries’ and ‘From Competitive Advantage to Corporate Strategy’. In the year 1991, he authored a piece for the winter special issue of the ‘Strategic Management Journal called, ‘Towards a Dynamic Theory of Strategy’. In 1996, he authored a piece for the Harvard Business Review titled, ‘What is Strategy’. In this piece, he delved into the various concepts that dealt with business strategy. He was even awarded for this masterpiece. In 1997, he co-authored the piece, ‘How Much Does Industry Matter, Really?’ along with McGahan, A.M. It was published in the summer special issue of the ‘Strategic Management

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Journal’. In 1998, he published his book titled, ‘On Competition’. The book gave a detailed account on the core concepts of strategy and competitiveness of location and other aspects of competitive strategy. In 2002, he published his work titled, ‘Strategy and the Internet’, which was published by the Harvard Business Review. The core essence of this piece of writing was the importance of the new technology - internet. In December 2006 he came out with, ‘Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility’. The work was published by the Harvard Business Review. In 2006, in collaboration with Teisberg, E.O he co-authored the book, ‘Redefining Health Care: Creating Value-Based Competition On Results’. The book was published by the Harvard Business School Press. Published in January 2008, his book, ‘The Five Competitive Forces That Shape Strategy’ was immensely well-received. The book provided a detailed analysis and business strategy development, deriving five forces that determine the competitive intensity and attractiveness of the market. In 2011, he wrote a follow up piece to the Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility’, titled ‘Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society’. He has played an active role in U.S. economic policy with the Executive Branch and Congress, and has led national economic strategy programs in numerous countries. Currently, he is working with the Presidents of Rwanda and South Korea.

Major Works: His book, ‘Competitive Strategy’ was his seminal work that which was named as the ninth most influential management book of the 20th century by the Fellows of the Academy of Management. His book ‘Redefining Health Care: Creating Value-Based Competition On Results’, was the recipient of the ‘James A. Hamilton Award’ conferred by the American College of Healthcare Executives. He has founded three major non-profit organizations: Initiative for a Competitive Inner City – ICIC, the Center for Effective Philanthropy and FSG-Social Impact Advisors

Awards & Achievements: In 2009, he was the recipient of the honorary degree from McGill University. He is the recipient of the Jose Dolores Estrada Order of Merit, which is the one of the highest

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civilian awards that is conferred by the Government of Nicaragua. He has been the recipient of the McKinsey Award six times. He was appointed Harvard University Professor, the highest professional recognition that can be awarded to a Harvard faculty member. He is a Fellow of the Strategic Management Society.

Personal Life & Legacy: He tied the nuptial knot with Debbie, with whom he has two daughters.

Trivia: He is popularly known as the Father of Modern Strategy field and is recognized worldwide for his take on competition and company strategy. It is his work that has redefined the thought process related to competition and economic development.

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