Michael Porter's Competitive Strategy addresses major questions of vital concern to managers, and presents a comprehensive set of analytical techniques for undestanding a business and the behaviour of its competitors. Step-by-step, Porter provides the techniques and tools managers need to successfully conduct an industry and competitor analysis. Beginning with a comprehensive set of tools and techniques for analyzing any industry and any array of competitors, the book moves on to examine competitive strategies for fragmented industries, emerging industries, maturing industries, declining industries and global industries. The final section of the book provides analytical techniques for making the important strategic decisions that confront firms - vertical integration, major capacity expansion, divestment and entry into new businesses. This book is designed to enable managers to anticipate and prepare for - rather than simply react to - sudden competitor moves, new entries into their business, and shifts in industry structure, as well as to take forceful positive action to improve a company's position through tested competitive strategies.