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Competition Demystified: A Radically Simplified Approach to Business Strategy Paperback – Aug. 28 2007
by
Bruce C. Greenwald
(Author),
Judd Kahn
(Author)
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Bruce Greenwald, one of the nation's leading business professors, presents a new and simplified approach to strategy that cuts through much of the fog that has surrounded the subject. Based on his hugely popular course at Columbia Business School, Greenwald and his coauthor, Judd Kahn, offer an easy-to-follow method for understanding the competitive structure of your industry and developing an appropriate strategy for your specific position.
Over the last two decades, the conventional approach to strategy has become frustratingly complex. It's easy to get lost in a sophisticated model of your competitors, suppliers, buyers, substitutes, and other players, while losing sight of the big question: Are there barriers to entry that allow you to do things that other firms cannot?
Over the last two decades, the conventional approach to strategy has become frustratingly complex. It's easy to get lost in a sophisticated model of your competitors, suppliers, buyers, substitutes, and other players, while losing sight of the big question: Are there barriers to entry that allow you to do things that other firms cannot?
- Print length416 pages
- LanguageEnglish
- PublisherPortfolio
- Publication dateAug. 28 2007
- Reading age18 years and up
- Dimensions14.1 x 2.16 x 21.46 cm
- ISBN-109781591841807
- ISBN-13978-1591841807
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Review
"In the best of the strategy books now or soon to be in stores, [Greenwald] has proposed a fairly straightforward way to think about strategy that makes the subject substantially simpler." --The New York Times
"Case studies and sharp analysis make this a book worth pondering. . . . They make a compelling case." --BusinessWeek
"Superb, with a deft balance between theory and case studies that offer fascinating explanations of strategic adventures by prominent companies." --The Toronto Globe and Mail
"Congratulations. Your business is a success. Now is when you really need this book. Greenwald and Kahn are unique in their focus on building and protecting value even as others try to copy your special saude (or formula). Their approach to competitive strategy is a masterly success and, true to their own insight, is one that can't be beat, now or in the future." --Barry Nalebuff, Yale University, author of Why Not? and Co-Opetition
"The best 'course' I've ever read on strategic management. Actually does demystify a complex world of management." --Warren Bennis, Distibguished Professor of Business, USC; author of Becoming a Leader
"Case studies and sharp analysis make this a book worth pondering. . . . They make a compelling case." --BusinessWeek
"Superb, with a deft balance between theory and case studies that offer fascinating explanations of strategic adventures by prominent companies." --The Toronto Globe and Mail
"Congratulations. Your business is a success. Now is when you really need this book. Greenwald and Kahn are unique in their focus on building and protecting value even as others try to copy your special saude (or formula). Their approach to competitive strategy is a masterly success and, true to their own insight, is one that can't be beat, now or in the future." --Barry Nalebuff, Yale University, author of Why Not? and Co-Opetition
"The best 'course' I've ever read on strategic management. Actually does demystify a complex world of management." --Warren Bennis, Distibguished Professor of Business, USC; author of Becoming a Leader
About the Author
Bruce Greenwald is the Robert Heilbrun Professor of Economics at Columbia University Business School, where his class on strategy draws standing-room-only crowds.
Product details
- ASIN : 1591841801
- Publisher : Portfolio; Reprint edition (Aug. 28 2007)
- Language : English
- Paperback : 416 pages
- ISBN-10 : 9781591841807
- ISBN-13 : 978-1591841807
- Item weight : 386 g
- Dimensions : 14.1 x 2.16 x 21.46 cm
- Best Sellers Rank: #45,608 in Books (See Top 100 in Books)
- #21 in Organizational Change (Books)
- #107 in Systems & Planning (Books)
- #110 in Business Systems & Planning (Books)
- Customer Reviews:
About the author
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Bruce C. Greenwald ist einer der landesweit fuhrenden Okonomen. Er ist zurzeit Professor fur Finance and Asset Management an der Columbia Universitat. Er berat weltweit zu verschiedenen Themen wie Kapitalmarkte, Businessstrategien, Corporate Finance und Arbeitsleistung.
Customer reviews
4.6 out of 5 stars
4.6 out of 5
477 global ratings
How are ratings calculated?
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Top reviews from other countries

Uddeshya Nigam
3.0 out of 5 stars
A great read to advance your understanding of long term investment-worthy businesses
Reviewed in India 🇮🇳 on January 10, 2021Verified Purchase
Still in the process of reading it, loved it so far!
However on another note, the paperback quality is laughable (hence the 3/5) for an expensive book such as this. Even the cover is made of thin paper! The quality of the pages and printing are pretty poor.
Not sure if I got the authentic copy or if this is the norm for this particular publisher
However on another note, the paperback quality is laughable (hence the 3/5) for an expensive book such as this. Even the cover is made of thin paper! The quality of the pages and printing are pretty poor.
Not sure if I got the authentic copy or if this is the norm for this particular publisher
5 people found this helpful
Report

Kiran B.
5.0 out of 5 stars
A Revelation for Every Serious Economist and Investor
Reviewed in Germany 🇩🇪 on May 12, 2020Verified Purchase
This book is a revelation for everyone seriously involved in any part of the business world. I usually do not write reviews, but this book deserves appraisal and much more attention from stakeholders in business.
Based on his extensive knowledge gained through his career in investment academia, Bruce Greenwald authored a brilliant book which provides a general framework for analyzing competitive situations and their possible outcomes and impact on the involved firms. Beginning with a general introduction to strategy and tactics, Greenwald first pays tribute to Michael E. Porter's 5-Forces-Model and explains his approach to strategy by building on the groundwork of the Porter's model. However, a serious disadvantage of Porter's model is its complexity, which results in a difficulty of applying the model on competitve situations due to the exhaustive analysis required, i.e. keeping an eye on every force at all times during the analysis will inevitably confuse the analyst. Greenwald solves this dilemma by solely focusing on one force: Barriers to Entry. These barriers form the basis for every other force and define the market, in which the firm operates. Without barriers to entry a firm cannot develop and enjoy sustainable competitve advantages over the long term. Therefore, barriers to entry are a crucial part of economical decision-making for the firm and a useful analytical tool for quick-checking the competitive surroundings.
What makes this book a great read is the fact that Greenwald uses many real-world competitive situations (Wal-Mart, Microsoft, Apple, Polaroid etc.) to illustrate the framework's applicability.
However, the biggest merit of this book is the investment valuation approach described in the last part of the book. This investment valuation approach is a powerful alternative to the established valuation models (e.g. Discounted-Cashflow-Model) used in today's financial world, because it includes the importance of strategic decision-making in the valuation process. Furthermore, the investment valuation model is not future-oriented (in contrast to the DCF-model), resulting in a dramatically lower error rate and smaller valuation range compared to other models, which are highly sensitive to variations of critical variables. This model is congruent with the value investing philosophy; accomplished investors such as Warren Buffett and Seth Klarman developed their individual approaches similar to Greenwald's model.
For me personally, this book constitutes one of the most important books of the investment world. Competition Demystified stands out because of the analytical tools and general approach to investment theory. This book definitely deserves a place next to Benjamin Graham's "The Intelligent Investor" (Side Fact: Bruce Greenwald is the successor emeritus of Benjamin Graham as a professor at Columbia Business School in New York).
Some recommendations for potential readers:
- Regard this book as the transcript of university lectures, i.e. try to study and really comprehend the content.
- Don't rush through the book, let it sink in and use it as a toolbox for thinking about economy at large and investment in particular.
- Spread the word to improve the quality of economical decision-making in today's world (especially in consulting, investment banking and management).
Based on his extensive knowledge gained through his career in investment academia, Bruce Greenwald authored a brilliant book which provides a general framework for analyzing competitive situations and their possible outcomes and impact on the involved firms. Beginning with a general introduction to strategy and tactics, Greenwald first pays tribute to Michael E. Porter's 5-Forces-Model and explains his approach to strategy by building on the groundwork of the Porter's model. However, a serious disadvantage of Porter's model is its complexity, which results in a difficulty of applying the model on competitve situations due to the exhaustive analysis required, i.e. keeping an eye on every force at all times during the analysis will inevitably confuse the analyst. Greenwald solves this dilemma by solely focusing on one force: Barriers to Entry. These barriers form the basis for every other force and define the market, in which the firm operates. Without barriers to entry a firm cannot develop and enjoy sustainable competitve advantages over the long term. Therefore, barriers to entry are a crucial part of economical decision-making for the firm and a useful analytical tool for quick-checking the competitive surroundings.
What makes this book a great read is the fact that Greenwald uses many real-world competitive situations (Wal-Mart, Microsoft, Apple, Polaroid etc.) to illustrate the framework's applicability.
However, the biggest merit of this book is the investment valuation approach described in the last part of the book. This investment valuation approach is a powerful alternative to the established valuation models (e.g. Discounted-Cashflow-Model) used in today's financial world, because it includes the importance of strategic decision-making in the valuation process. Furthermore, the investment valuation model is not future-oriented (in contrast to the DCF-model), resulting in a dramatically lower error rate and smaller valuation range compared to other models, which are highly sensitive to variations of critical variables. This model is congruent with the value investing philosophy; accomplished investors such as Warren Buffett and Seth Klarman developed their individual approaches similar to Greenwald's model.
For me personally, this book constitutes one of the most important books of the investment world. Competition Demystified stands out because of the analytical tools and general approach to investment theory. This book definitely deserves a place next to Benjamin Graham's "The Intelligent Investor" (Side Fact: Bruce Greenwald is the successor emeritus of Benjamin Graham as a professor at Columbia Business School in New York).
Some recommendations for potential readers:
- Regard this book as the transcript of university lectures, i.e. try to study and really comprehend the content.
- Don't rush through the book, let it sink in and use it as a toolbox for thinking about economy at large and investment in particular.
- Spread the word to improve the quality of economical decision-making in today's world (especially in consulting, investment banking and management).
3 people found this helpful
Report