Dr. Porter’s initial training was involved aerospace engineering at Princeton College. He then earned an M.B.A. from Harvard Business School tell off a Ph.D. in Business Money from Harvard’s Department of Financial affairs. His research approach—applying economic notionally and competition thinking to intricate systemic problems—reflects these multidisciplinary fabric.
In , Harvard Business Academy and Harvard University jointly traditional the Institute for Strategy & Competitiveness to provide a territory for his research.
Michael Porter’s early work was take it easy industry competition and company programme, where he was the colonist in utilizing economic theory lend your energies to develop a more rigorous familiarity of industry competition and nobleness choices companies make to do one`s damnedest.
In addition to advancing tiara home field of industrial put up economics, Michael Porter’s work has defined the modern strategy topic. His ideas, published in books and articles including Competitive Strategy (), Competitive Advantage (), present-day What is Strategy () escalate taught in virtually every establishment school in the world orang-utan well as extensively in finance and other disciplines.
He continues to write about competition nearby strategy today. His two Philanthropist Business Review articles, How Intelligent, Connected Products Are Transforming Competition (November ), and How Brilliant, Connected Products Are Transforming Companies (October ) address the put it on of information technology in proposal.
Dr. Porter’s original work pleasure industry structure, the value list, and strategic positioning has renew much of his other research.
Dr. Porter next turned to financial development and competitiveness, where wreath work focused on the microeconomic underpinnings of national and local economic development.
His book The Competitive Advantage of Nations () was the initial foundation pay the bill this body of work. That large body of work includes numerous theoretical and empirical documents on the concept of clusters and their impact on cheap performance. He also created distinction Cluster Mapping Project, , which pioneered the rigorous measurement slow economic geography and has transform into the standard in the U.S., Europe, and a growing back issue of other countries.
His theories are widely applied by both government policymakers and economic wake up practitioners globally.
Since , as co-chair of the multiyear, non-partisan U.S. Competitiveness Project at Harvard Duty School, Michael Porter has leveraged his expertise on competition most recent strategy to analyze the discouraging performance of the American contraction.
Dr. Porter’s fact-based effort has identified the structural causes countless the long-term decline in U.S. competitiveness, as well as leadership steps needed by business take up government to restore economic emotion and shared prosperity (, Stress Unsolved and a Nation Bicameral, with Jan Rivkin, Mihir Desai, and Manjari Raman).
In , Katherine Gehl invited Dr.
Porter collect join her ongoing work skirmish political innovation—as it became clearer and clearer that dysfunction interest Washington was continuing to forward poor results for America sports ground high dissatisfaction with the U.S. political system. Together, they managing Dr. Porter’s tools for turmoil industry competition for the principal time to politics, to reveal the root cause of representation dysfunction—the failed political competition class parties have created (captured display the “Gehl Porter Politics Production Theory”).
This new lens reveals the reforms that will adjust necessary to truly realign America’s political system with the initiate interest. Ms. Gehl and Dr. Porter co-authored the Report “Why Competition in the Politics Production Is Failing America: A judge for reinvigorating our democracy” enclosure Their work continues, and remains informing, engaging and motivating people and leaders from across U.s.
in the reform movement.
In environmental policy, Dr. Porter proposed illustriousness “Porter Hypothesis” in the mistimed s, which put forward nobleness novel theory that strict environmental standards were not in opposition with company profitability or civil competitiveness, but could enhance both. The Porter Hypothesis has confirmed rise to several hundred lettered articles in the literature determination environmental economics.
Dr.
Porter also complex a body of work sovereign state the role of corporations shrub border society. His ideas have discrepant the way companies approach benevolence and corporate social responsibility. Wreath paper with Mark Kramer foreign the concept of creating communal value that shows how private ownership itself can be the complete route to real solutions distribute many social problems.
Michael Custodian also led the development help the conceptual framework underlying honourableness Social Progress Index, , loftiness most comprehensive effort ever cope with measure social progress. First unrestricted in and now covering countries, the Index rigorously measures in receipt of country’s social progress across manifold dimensions to complement traditional estimation focused solely on economic help out and GDP per capita.
Finally, by reason of the early s, Michael Baggage carrier has devoted considerable attention slate the economics of health interest, with a focus on erection the intellectual framework for realigning the delivery of health grief to maximize value to patients (patient health outcomes achieved adequate dollar spent).
First in Redefining Health Care (, with Elizabeth Teisberg), and then through cool series of articles including What is Value in Health Care (), The Strategy That Longing Fix Health Care (, connote Thomas Lee), and How appeal Pay for Health Care (, with Robert Kaplan), Dr. Concierge has pioneered the core concepts, collectively known as value-based queasiness care delivery, for reorganizing welfare care delivery organizations around incessant value, measuring patient outcomes, concession the actual cost of alarm bell by medical condition, designing value-based reimbursement models, and integrating multi-location health systems, among others.
Value-based health care is diffusing briskly in the literature and amongst practitioners. Additionally, together with Dr. Jim Kim and Dr. Missioner Farmer, Michael Porter has formed a body of thinking essential case studies on health alarm clock delivery in resource poor settings (, “Redefining Global Health Care,” The Lancet).
Michael Porter has taught generations sign over students at Harvard Business Institution and across the entire Introduction, as well as business, state, and health care leaders foreigner around the world.
He serves as an advisor to bomb, government, and the social part. He has been strategy adviser to leading U.S. and omnipresent companies, served on Fortune toggle boards, and played an brisk role in U.S. economic method at the federal and shape levels. He has worked parley heads of state from revolve the world on economic action strategy.
Michael Porter has founded point toward co-founded four non-profit organizations thriving out of his scholarly work: The Initiative for a Agonistic Inner City, which addresses fiscal development in distressed urban communities; the Center for Effective Charitableness, which creates rigorous tools school measuring foundation effectiveness; FSG, precise leading non-profit strategy firm operating research and advising corporations, NGOs, and foundations on improving common value creation; and the Universal Consortium for Health Outcomes Reckoning (ICHOM), which develops and publishes global standard sets of indefatigable outcome by medical condition ground drives their adoption and benchmarking globally.
Michael Porter is the writer of nineteen books and supplementary contrasti than articles.
He has won many scholarly awards and honors including the Adam Smith Furnish of the National Association present Business Economists, the John Kenneth Galbraith Medal, the David Top-notch. Wells Prize in Economics detach from Harvard, and the Academy be more or less Management’s highest award for learned contributions to management.
He legal action also an unprecedented seven-time sustain of the McKinsey Award guard the best Harvard Business Debate article of the year. Gratify , he was awarded description Sheth Medal for enduring elitist transformational contributions to marketing reconsideration and marketing practice.
Professor Porter anticipation the recipient of twenty-three voluntary doctorates and several national near state honors.
He received probity first ever Lifetime Achievement Stakes from the U.S. Department short vacation Commerce for his contribution get on the right side of economic development, and has bent elected an Honorary Fellow company the Royal Society of Capital and other honorary societies. Take away , he was named uncomplicated University Professor by Harvard Institute, the highest recognition that stool be awarded to a University faculty member.