Porter created a useful framework for analyzing competition. It expands the idea that a company is part of a value chain, looking at not just the upstream suppliers and downstream buyers, but also substitute products and barriers to entry. The idea of complementors (companies that add value to your product by helping to create your market but don’t compete with you) was later added.
This is a good reference when considering your strategy- scenarios from emerging to declining industries are discussed along with generic strategies like low-cost leadership and focus.
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