COMPETITIVE ADVANTAGE

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COMPETITIVE ADVANTAGE Creating and Sustaining Superior Peifonnance Michael E. Porter 1&1 THE FREE PRESS A Division of A1acmillan, Inc. NEW YORK Maxwell Macmillan Canada TORONTO Maxwell Macmillan International NEW YORK OXFORD SINGAPORE SYDNEY Copyright 1985 by Michael E. Porter All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from Ihe Publisher. The Free Press A Division of Macmillan, Inc. 866 Third Avenue, New York, 10022 Maxwell Macmillan Canada, Inc.

The collective strength of these five competitive forces determines the ability of firms in an industry to earn, on average, rates of return on investment in excess of the cost of capitaL The strength of the five forces varies from industry to industry, and …

  Industry, Five