Michael Porter : critical evaluations in business and management
Michael Porter : critical evaluations in business and management
Call no.
: 658.4012/MIC
Author
: John C. Wood & Michael C. Wood (Editor)
Contributor
: Zuraidah Binti Mat
Summary
Michael Porter's contributions to business and management, such as his Five Forces Model and Value Chain Analysis, have been widely acclaimed. However, critics argue that these frameworks oversimplify market complexities and may not fully consider factors like innovation and intangible assets. While Porter emphasizes sustainable competitive advantage, some contend that this focus neglects market agility. Additionally, while clusters can stimulate economic growth, they might also reinforce inequalities. Porter's concept of shared value, though promising, faces challenges in balancing societal benefits with short-term profitability. In summary, while Porter's frameworks have been influential, critics stress the importance of a more nuanced understanding of competitive dynamics and the broader societal impacts of business strategies.
