Competitive Strategy

competitive strategy

Not sure how to handle the strategic planning for your practice? No problem! Once you read Competitive Strategy you will have some idea of the direction you will want to take. This book serves as a checklist for anyone who wants to grow their business and do it strategically.

Porter, a Harvard Business School professor, delivers a well-written and informative account of how you can use competitive strategy to grow your business. There is a reason why this book has had so many prints and has been translated into so many different languages. It provides invaluable information that can be used in any type of business, including your practice.

This book covers such issues as how to create a competitive strategy, the risks involved and evaluating them, doing a competitor analysis, and using preemptive strategies. The information in this book will help you navigate the waters of competitive strategy and be able to use the tools to your advantage.

“Competitive Strategy” explains that there are five competitive forces that ultimately determine how fierce the industry competition is, the profitability, and the strongest forces. These include the threats of new competition, the bargaining power of buyers, the threat of products or services that can be a substitute, the bargaining power that suppliers have, and the rivalry that there is between competitors. Understanding these five competitive forces is crucial to growing your practice and beating your competition.

This book is worth reading because it provides valuable information about evaluating your competition and how you can best go about doing strategic planning. Forget blindly throwing darts at the wall to make decisions for your business. Learn to use competitive strategy to further your success.

Worked at Burleson Orthodontics. Attended University of Missouri–Kansas City. Lives in Kansas City, Missouri.