Michael Porter, commonly considered as the Father of Corporate Strategy and Management, is one of the most prominent management gurus of this century. Every successful CEO in the world has a testament to this reality on his shelf: his books, which are epic opuses in the field of competitive and business strategy. Porter’s techniques enjoy broad approval as a university lecturer at Harvard Business School. His concepts have also been included into the curriculum of every prominent business school on the planet. He’s in charge of laying the groundwork for current corporate strategy courses. He has also acted as a strategic advisor to a number of successful and prominent U.S. and worldwide businesses. He has produced over 18 books and several articles on corporate competitiveness, competitive strategy, and advantage throughout the years. He has also written over 125 pieces on corporate strategy and has been a guest columnist for the Wall Street Journal. ‘How Competitive Forces Shape Strategy,’ ‘Competitive Strategy,’ ‘Redefining Health Care: Creating Value-Based Competition on Results,’ and ‘Strategy and the Internet,’ to name a few of his works.
Childhood and Adolescence
Michael Eugene Porter was born in Ann Arbor, Michigan, in the United States on May 23, 1947. In 1969, he received a BSE in mechanical and aerospace engineering from Princeton University. He was a member of Phi Beta Kappa and Tau Beta Pi at Princeton. He graduated with honors from Harvard Business School in 1971, earning an MBA with honors. He received his Ph.D. in business economics from Harvard University two years later.
Career of Michael Porter
He published ‘How Competitive Forces Shape Strategy’ in 1979 as an economist and associate professor at Harvard Business School. The Harvard Business Review published it. His famed Five Forces framework was built on the foundation of this book.
He wrote the book ‘Competitive Strategy’ in 1980, which was published by New Press in New York. This was one of his best-known works. He wrote ‘Competitive Advantage,’ which was published by New Press in New York in 1985. The book focused on the tactics used to deal with competitiveness and other issues.
He authored books on business competitiveness and strategy from 1986 to 1987. ‘Competition in Global Industries’ and ‘From Competitive Advantage to Corporate Strategy’ were among the titles. He wrote an essay called ‘Towards a Dynamic Theory of Strategy’ for the winter special edition of the ‘Strategic Management Journal’ in 1991.
He wrote an essay for the Harvard Business Review in 1996 called “What is Strategy.” He dug into the many principles that related with corporate strategy in this work. He was even given an award for this work of art. He and McGahan, A.M. co-authored the article ‘How Much Does Industry Matter, Really?’ in 1997. It was published in the ‘Strategic Management Journal”s summer special edition.
He released his book, ‘On Competition,’ in 1998. The book went into the fundamentals of strategy, geographical competitiveness, and other areas of competitive strategy in great depth. He published his article, ‘Strategy and the Internet,’ in the Harvard Business Review in 2002. The relevance of modern technology – the internet – was the central theme of this piece of literature.
He published ‘Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility’ in December 2006. The Harvard Business Review published the article. He co-authored the book ‘Redefining Health Care: Creating Value-Based Competition on Results’ with Teisberg, E.O. in 2006. The Harvard Business School Press released the book.
His book, ‘The Five Competitive Forces That Shape Strategy,’ was well-received when it was released in January 2008. The book included a deep analysis and company plan formulation, as well as five dynamics that define the market’s competitive intensity and attractiveness.
In 2011, he published ‘Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society,’ a follow-up to ‘Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility.’
He has worked closely with the Executive Branch and Congress on economic policy in the United States, and he has directed national economic strategy projects in a number of nations. He is now collaborating with Rwanda’s and South Korea’s presidents.
Major Projects of Michael Porter
His key work, ‘Competitive Strategy,’ was chosen by the Fellows of the Academy of Management as the ninth most significant management book of the twentieth century. The American College of Healthcare Executives awarded him the “James A. Hamilton Award” for his book “Redefining Health Care: Creating Value-Based Competition on Results.” Initiative for a Competitive Inner City – ICIC, the Center for Effective Philanthropy, and FSG-Social Impact Advisors are three main non-profit organizations he created.
Achievements & Awards
He received an honorary doctorate from McGill University in 2009. He was awarded the Jose Dolores Estrada Order of Merit, which is one of the highest civilian honors bestowed by the Nicaraguan government. He has received the McKinsey Award on six occasions. He was named a Harvard University Professor, the highest professional honor a Harvard faculty member can get. He is a Strategic Management Society Fellow.
Personal History and Legacy
He married Debbie, with whom he has two kids, and they have two daughters together.
Estimated Net Worth
Michael is one of the wealthiest basketball players and one of the most popular. Michael Porter’s net worth is estimated to be $1.5 million, according to Wikipedia, Forbes, and Business Insider.
Trivia
He is widely regarded as the “Father of Modern Strategy” and is well-known for his views on competitiveness and business strategy. His approach has revolutionized the way people think about competitiveness and economic progress.