Analisi del macroambiente: minacce e opportunità secondo Michael Porter

STUDII UNIVERSITAS TAURINENSIS

Sier TAURINENSIS 1404 SME SCUOLA DI MANAGEMENT ED ECONOMIA UNIVERSITÀ DEGLI STUDI DI TORINO

Analisi del macroambiente: minacce e opportunità

ECONOMIA E DIREZIONE DELLE IMPRESE E STRATEGIE D'IMPRESA Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO

Capitoli Testo Strategie d'Impresa

1. Analisi dei concorrenti e della domanda: segmentazion e posizionamentoSTUDII

UNIVERSITAS TAURINENSIS

Sier TAURINENSIS 1404 SME SCUOLA DI MANAGEMENT ED ECONOMIA UNIVERSITÀ DEGLI STUDI DI TORINO

Theory Building in Management: the Porter view

DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO

"Crossing the river" from economics to management, Porter abandoned models and "invented" frameworks

An interview with Michael Porter

STRUTTURA LOGICA per ANALIZZARE il COMPORTAMENTO delle AZIENDE

Then in 1971, I entered the Ph.D. program in business economics here at Harvard and took a course in Industrial Organization (IO) from Richard Caves across the river. On the Business School side of the river, ceteris paribus assumptions don't work. Managers must consider everything. I concluded that we needed frameworks rather than models ...

So I opted neither for the case-study approach nor for the modeling/large-scale statistical testing approach. My main body of work is what I call frameworks. A framework tries to capture the full richness of a phenomenon with the most limited number of dimensions

APPROCCIO del MODELLO(framework) e DISCUSSIONE dei CASI AZIENDALI

ACADEMY OF Management STUDIJ UNIVERSITAS TAURINENSIS 1404

Source: Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43-52. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 304

Management theory must be logic and structured

In framework building, the artistry is in providing the smallest number of core elements that still capture the variation and the dimensionality of competition ...

I decided that fundamental to any theory of positioning had to be superior profitability. This in turn required competitive advantage, and fundamental to any thinking about competitive advantage was scope, or the breadth of the company's strategic target. That led to the generic strategies [low-cost leadership, product differentiation, and market specialization]

I believe strongly that managers can apply these principles prospectively, and that most do.

ci permette di PRENDERE il Plù PICCOLO SET di VARIABILI e CONFRONTARLE

Another best-selling business book of the 1980s was Peters and Waterman's In Search of Excellence. Do you have a point of view on that book ?

THOMAS J. PETERS and ROBERT H. WATERMAN #1 NATIONAL BESTSELLER "Exuberant and absorbing. one of those rare books on management that are both consistently thought provoking and fun to read." - Wall Street Journal In Search of Excellence Lessons from America's Best Run Companies HarperBusiness Essentials

Its greatest contribution was to say, "Let's strive to really be excellent. Let's believe that we can be excellent."

What the book didn't have was a framework. It didn't have a set of tools which would allow you to decide how you could be excellent. The principles in the book were a list of "good things to do," STUDII UNIVERSITAS TAURINENSIS 1404

Source: Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43-52. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 305

Management practice must frame decisions within a strategy

Strategy is a field where everything matters. Choices matter, the leader matters, the culture matters, the values matter, random events matter, and so on. Strategy is inherently an integrative subject that has to allow for complexity. What I tried to bring to the field in Competitive Strategy was the notion that there are certain economic fundamentals on which everything else must rest.

Companies cannot randomly make a lot of choices that all turn out to be consistent. It's statistically impossible ... As we study the histories of successful companies, we see that someone or some group developed insight into how a number of choices fit together, and that was the ignition point for the strategy.

There's a bit of emergent strategy in every company. But unless at some point the company can see the design, see how the pieces fit, and make the interdependent choices consistent, the company is not going to be successful.

Intended Strategy

Deliberate Strategy Unrealized Strategy

Realized Strategy

Emergent Strategy

per REAGIRE a quella PARTE EMRGENTE della STRATEGIA devo PIANIFICARE

STUDIJ UNIVERSITAS TAURINENSIS 1404

Source: Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43-52. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 306

Working on activities and skills

I don't think there is any dichotomy between the positioning view and the skills-based view. The positioning view says that in order to have a competitive advantage, the company has to do something unique. It must deliver some different kind of value to some different group of customers.

To do so, a company must be good at its way of competing. It needs to develop a unique set of skills that other organizations don't have. The value chain helps clarify this one step deeper into positioning is a set of unique activities, which depend (in part) on unique skills.

STRATEGIA EMEGENTE e PIANIFICATA portano al POSIZIONAMENTO che deve ESSERE UNICO per OTTENERE un VANTAGGIO COMPETITIVO, COSì da VENDERE a PREZZI Plù ALTI e OTTENERE MARGINE

Skills aren't valuable per se; they are only valuable in the context of a particular positioning that makes them valuable. This point applies to the resource- based view of competition as well. The value of a particular resource is only manifested if you have a particular strategy which realizes that value.

But if there's an interesting new technology, and management cannot draw a clear connection with the business, it's unlikely to become a productive use of corporate resources. Think of Xerox PARC. It made a great contribution to society but had a modest impact on Xerox's competitive advantage.

The resource-based view just cannot stand on its own. Yet there are elements of real insight there. If you could hook the resource-based view to the value chain, to strategic choices, and ultimately to profit, then you could build a more robust role for resource/capability thinking.

STUDII UNIVERSITAS TAURINENSIS 1404

Source: Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43-52. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 307

SIAMO QUI!

3 Store WIND vodafone sky SeDISON 1 Mobile TIM RKena MOBILE Lycamobile Colo Un'offerta very Gigantesca 100 Giga minuti e SMS illimitati A partire da 6,99€ al mese DC 5 ,99€ MESE ena APPROFITTA DEL BONUS STATALE! FINO A 2.500€ WIND INFOSTRADA FAST !! JEB SIGARETTE ELETTRONICHE per te FIBRA SVAPOSO inkem ENTRA . PROVAMI GRATIS PER SEMPRE & PER DAVVERO SENZA VINCOLI · SENZA NESSUN COSTO NASCOSTO !!! SOLO per i clienti iliad scheda da 10€ in REGALO !! very MOBILE ATTIVAZIONE GRATUITA Kena MOBILE a partire da 3,16€ ENTRA SUBITO gkena HOMILE MOBILE SUPER FIBRA TIM ho. PER TUTTI 70 GB MINUTI E SMS ILLIMITATI CHIAMATE ILLIMITATE TO0GIGA 7,99€ MESE PREZZO BLOCCATO PER SEMPRE SENZA VINCOLI! € 5,99/MESE · SENZA VINCOLI E SENZA NESSUN COSTO NASCOSTO CON 12 MESI DI AMAZON PRIME 43 INDTRE SCOPRI L'OFFERTA PER SEMPRE HAI LA PARTITA IVA? O vodafone Con la qualità della rete ET TIM 70 GIGA MINUTI E SMS ILLIMITATI SOLO per i clienti iliad scheda da 10€ in REGALO !! CARTEL ENTIL INCREDIE 150 INCREDIBILE MA VERO! SOLO DA NOI SCHEDA GRATIS MODEM INCLUSO SCOPRI L'OFFERTA PER SEMPRE 22 ,99€ AL MESE O vodafone COLORI ASORTY! TIM È proprio very. OFFERTE PAZZESCHE PER POCHI GIORNI E SOLO DA NOI!VIAGGIA CON Italo I TRENI PIÙ COMODI E CONVENIENTI 0 stalo& sitalo Le Frecce di Trenitalia: i treni veloci, più comodi e frequenti. SECURITY

Strategy has to do with company profitability and not shareholder value

BISOGNA FAR SI che la PROFITTABILITà sia più ALTA POSSIBILE

Strategy can be seen as a set of relationships to profitability. Profitability is revenue minus cost. You can decompose that into an industry part and a positioning part.

Industry profitability depends on the five forces.

On positioning, Competitive Strategy laid out the essence. If profitability is the firm's foremost goal, positioning must start with price and cost ...

It is interesting that we lost sight of profitability as the goal and substituted shareholder value measured by stock price. This has not only destroyed many companies but gave credence to a number of management ideas that are not robust .

Revenue Margin Costs ROIC Working capital Invested capital Fixed capital

STUDII UNIVERSITAS TAURINENSIS 1404

Source: Argyres, N., & McGahan, A. M. (2002). An interview with Michael Porter. Academy of Management Perspectives, 16(2), 43-52. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 310

Porter on theorizing through mathematical models

Developing a theory of strategy by creating a wide range of situation- specific but rigorous (read mathematical) models of limited complexity. Each model abstracts the complexity of competition to isolate a few key variables whose interactions are examined in depth.

The normative significance of each model depends on the fit between its assumptions and reality.

No one model embodies or even approaches embodying all the variables of interest, and hence the applicability of any model's findings are almost inevitably restricted to a small subgroup of firms or industries whose characteristics fit the model's assumptions.

This approach to theory building has been characteristic of economics in the last few decades.

These models provide clear conclusions, but it is well known that they are highly sensitive to the assumptions underlying them and to the concept of equilibrium that is employed.

Another problem with this approach is that it is hard to integrate the many models into a general framework for approaching any situation, or even to make the findings of the various models consistent.

While few economists would assert that this body of research in and of itself provides detailed advice for companies, these models, at their best, provide insights into complex situations that are hard to understand without them, which can inform the analysis of a particular company's situation.

STUDIJ UNIVERSITAS TAURINENSIS 1404

Source: Porter, M. E. (1991). Towards a dynamic theory of strategy. Strategic management journal, 12(S2), 95-117. Copyright @ Bernardo Bertoldi DM DIPARTIMENTO DI MANAGEMENT VALTER CANTINO 311