Michael Porter

Michael Porter, an engineer, has a doctorate in economics from Harvard Business School. Porter authored Competitive Advantage in 1985. ​The book extensively treats the idea of the value chain. The chain comprises inbound logistics operations, outbound logistics, marketing and sales, and services. In200, Porter became a professor of Harvard University. Porter stated that five factors determined competition in business. The factors include: 1)Existing rivalry in firms. 2)The threat of a new entrant to a market. 3)The threat of substitute products and services. 4)The bargaining power of suppliers. 5)The bargaining power of buyers.