Porter’s Generic Strategies – Simplified

About Business Strategy

In his 1980 book Competitive Strategy: Techniques for Analyzing Industries and Competitors, Michael Porter developed a methodology for analyzing an individual company’s strategy.  In this analysis, the industry is irrelevant, which is why the strategies are called generic strategies.   In the original format, Porter originally laid out three generic strategies that a business could pursue.  Over time, those strategies have been enhanced and refined.  It is his original work and subsequent enhancements that offer an excellent approach to how business owners can look at their competitors in a market, and also glean tactics from players in other markets to carry out their own strategy.

Over time, as Porter’s concepts have been updated and appended, the strategies have largely evolved to five general strategies.  It is this look at Porter’s concept that has value for a start-up business – or any business for that matter – to determine how they…

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