The Competitive Advantage Of Nations

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Porter builds on the ideas of his earlier works to explore what makes a nation's firms and industries competitive in global markets and what propels national economic development. Now beyond its 11th printing and translated into twelve languages, Michael Porter's "The Competitive Advantage of Nations" has changed completely our conception of how prosperity is created and sustained in the modern global economy. Porter's groundbreaking study of international competitiveness has shaped national policy in countries around the world. It has also transformed thinking and action in states, cities, companies, and even entire regions such as Central America. Based on research in ten leading trading nations, "The Competitive Advantage of Nations" offers the first theory of competitiveness based on the causes of the productivity with which companies compete. Porter shows how traditional comparative advantages such as natural resources and pools of labor have been superseded as sources of prosperity, and how broad macroeconomic accounts of competitiveness are insufficient. The book introduces Porter's "diamond," a whole new way to understand the competitive position of a nation (or other locations) in global competition that is now an integral part of international business thinking. Porter's concept of "clusters," or groups of interconnected firms, suppliers, related industries, and institutions that arise in particular locations, has become a new way for companies and governments to think about economies, assess the competitive advantage of locations, and set public policy. Even before publication of the book, Porter's theory had guided national reassessments in New Zealand and elsewhere. His ideas and personal involvement have shaped strategy in countries as diverse as the Netherlands, Portugal, Taiwan, Costa Rica, and India, and regions such as Massachusetts, California, and the Basque country. Hundreds of cluster initiatives have flourished throughout the world. In an era of intensifying global competition, this pathbreaking book on the "new" wealth of nations has become the standard by which all future work must be measured. About The Author Michael E. Porter (Shortlisted: 2011 Strategy Award) (Winner: 2005 Thinkers50) is the Bishop William Lawrence University Professor at Harvard Business School, and one of the most influential management thinkers of his generation. Porter is considered by many to be the father of modern corporate strategy. Porter’s Five Forces Framework is taught in every business school in the world. The author of 18 books and over 125 articles, Porter co-founded the Monitor Group in 1983. Many of Porter's ideas have entered mainstream management practice. His seminal Harvard Business Review article “How Competitive Forces Shape Strategy,” (March/April 1979) introduced the Five Forces model for analyzing competitive position in an industry. His first widely read book Competitive Strategy, which followed soon after the 1979 article, is now in its 63rd imprint. From investigating corporate competition, Porter moved on to examine competition between nations in his book The Competitive Advantage of Nations (1990). He arrived at the Diamond Framework for National Competitive Advantage as a tool to help explain why some nations achieve greater productivity and higher standards of living than others. Since 2001, Porter has devoted considerable attention to competition in the health care system, with a focus on improving health care delivery. His work with Professor Elizabeth Teisberg, including the book Redefining Health Care (2006), is influencing thinking and practice not only in the United States but numerous other countries. More recently, Porter has examined the interaction between competition and society. In particular, he has explored the relationship between competition and environmental sustainability, and competitive advantage and corporate social responsibility, and proposed the concept of shared value, arguing that firms should generate value for society as well as shareholders. He has received six McKinsey Awards for the best Harvard Business Review article of the year.