1980, 1985, 1990: A porter exegesis

Michael Porter's influential work in strategy is normally seen as a consistent and coherent body of work. An in-depth study of his major publications, however, shows that a considerable degree of evolution has taken place. Porter's views have changed to such an extent that the policy recommendations given in his 1980 and 1985 books are opposite to those in his 1990 book. This shift can be accounted for when the economic perspective behind these books is analysed. Porter appears to have changed his conception of competition from a static Industrial Organization perspective towards a dynamic perspective rooted in Austrian Economics. On the basis of this distinction Porter's different frameworks are evaluated. It is shown that some of the older frameworks can still be relevant today, while others have lost their importance.