ABSTRACT
Michael E. Porter's Competitive Strategy: Techniques for Analyzing Industries and Competitors has had an immense influence on the business world, particularly in the field of business strategy. Competitive Strategy is a rich source of ideas and theories for exploring how businesses respond to competitive stresses in their environment—situations that make it harder for them to compete. Perhaps because the five-force model is now one of the best known and most broadly used business strategy tools today, critiques have only grown more widespread. One frequent criticism is that Porter had little good reason for choosing the particular five forces that he did. Another criticism has to do with how well Porter's framework suits modern business environments, which are increasingly complex, changeable, and uncertain. As a broad framework, Porter's view of strategy mainly competes with the resource-based view of the business as a "bundle of unique resources".
