C. K. Prahalad
Coimbatore Krishnarao Prahalad was the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at University of Michigan Stephen M. Ross School of Business, he was the co-author of "Core Competence of the Corporation" and "The Fortune at the Bottom of the Pyramid", about the business opportunity in serving the Bottom of the Pyramid. On 16 April 2010, Prahalad died at the age of 68 of a undiagnosed lung illness in San Diego, California. Prahalad was born in Coimbatore in 1941, his father was a Tamil judge in Madras. At 19, he had finished his BSc degree in physics from Loyola College, part of the University of Madras, joined Union Carbide, where he worked for four years. Four years he did postgraduate work in management at the Indian Institute of Management Ahmedabad. At Harvard Business School, Prahalad wrote a doctoral thesis on multinational management in two and a half years, graduating with a DBA degree in 1975. After graduating from Harvard, Prahalad returned to the Indian Institute of Management Ahmedabad to serve as professor before returning to US again in 1977.
He returned to the United States in 1977, with an appointment to the University of Michigan's Ross School of Business Administration. He became a tenured full professor, earning the university's highest distinction, Distinguished University Professor, in 2005. In the early 1990 Prahalad advised Philips' Jan Timmer on the restructuring of this electronic corporation on the brink of collapse. A process, named Operation Centurion was set up, was successful after two or three years. C. K. Prahalad is the co-author of a number of works in corporate strategy, including The Core Competence of the Corporation which as of 2010 was one of the most reprinted articles published by the journal, he authored or co-authored: Competing for the Future, The Future of Competition, The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits. His last book, co-authored by M. S. Krishnan and published in April 2008, is The New Age of Innovation, he co-authored: "Innovation's Holy Grail" with R. A Mashelkar, chosen as a Harvard Business Review Top 10 articles on Innovation and focuses on how developing nations are leading the way in innovation that focuses more on affordability and sustainability as opposed to the common premium pricing model Prahalad was co-founder and became CEO of Praja Inc..
The company had goals of providing unrestricted access to information for people at the "bottom of the pyramid" and providing a test bed for various management ideas. It laid off a third of its workforce, was sold to TIBCO. In 2004 Prahalad co-founded management consultancy The Next Practice, to support companies in implementing the strategies outlined in The Fortune at the Bottom of the Pyramid, which continued in operation as of 2015. At the time of his death he was on the board of The Indus Entrepreneurs. Prahalad was a member of the Blue Ribbon Commission of the United Nations on Private Sector and Development, he was the first recipient of the Lal Bahadur Shastri Award for contributions to Management and Public Administration presented by the President of India in 1999. In 1994, he was presented the Maurice Holland Award from the Industrial Research Institute for an article published in Research-Technology Management titled "The Role of Core Competencies in the Corporation." In 2009, he was awarded Pravasi Bharatiya Sammaan.
In 2009, he was named Padma Bhushan'third in the hierarchy of civilian awards' by the Government of India. In 2009, he was named the world's most influential business thinker on the Thinkers50.com list. In 2009, he was awarded the Herbert Simon Award by the Rajk László College for Advanced Studies. In 2010, he was posthumously awarded the Viipuri International Prize in Strategic Management and Business Economics by Lappeenranta University of Technology. In 2011, the Southern Regional Headquarters of Confederation of Indian Industry was named as Prof C K Prahalad Center In 2018, he was named the world's most influential business thinker on the Thinkers50.com list. Bottom of the pyramid Core competency Co-creation Dominant logic Video interview on The Magazine Post Video interview on Thinkers 50 The Fortune at the Bottom of the Pyramid The New Fortune at the Bottom of the Pyramid
Globalization or globalisation is the process of interaction and integration among people and governments worldwide. As a complex and multifaceted phenomenon, globalization is considered by some as a form of capitalist expansion which entails the integration of local and national economies into a global, unregulated market economy. Globalization has grown due to advances in communication technology. With the increased global interactions comes the growth of international trade and culture. Globalization is an economic process of interaction and integration that's associated with social and cultural aspects; however and diplomacy are large parts of the history of globalization, modern globalization. Economically, globalization involves goods, the economic resources of capital and data; the expansions of global markets liberalize the economic activities of the exchange of goods and funds. Removal of Cross-Border Trades barriers has made formation of Global Markets more feasible; the steam locomotive, jet engine, container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure.
All of these improvements have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe. Though many scholars place the origins of globalization in modern times, others trace its history long before the European Age of Discovery and voyages to the New World, some to the third millennium BC. Large-scale globalization began in the 1820s. In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew quickly; the term globalization is recent. In 2000, the International Monetary Fund identified four basic aspects of globalization: trade and transactions and investment movements and movement of people, the dissemination of knowledge. Further, environmental challenges such as global warming, cross-boundary water, air pollution, over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, socio-cultural resources, the natural environment.
Academic literature subdivides globalization into three major areas: economic globalization, cultural globalization, political globalization. The term globalization derives from the word globalize, which refers to the emergence of an international network of economic systems. One of the earliest known usages of the term as a noun was in a 1930 publication entitled Towards New Education, where it denoted a holistic view of human experience in education; the term'globalization' had been used in its economic sense at least as early as 1981, in other senses since at least as early as 1944. Theodore Levitt is credited with popularizing the term and bringing it into the mainstream business audience in the half of the 1980s. Since its inception, the concept of globalization has inspired competing definitions and interpretations, its antecedents date back to the great movements of trade and empire across Asia and the Indian Ocean from the 15th century onward. Due to the complexity of the concept, various research projects and discussions stay focused on a single aspect of globalization.
Sociologists Martin Albrow and Elizabeth King define globalization as "all those processes by which the people of the world are incorporated into a single world society." In The Consequences of Modernity, Anthony Giddens writes: "Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa." In 1992, Roland Robertson, professor of sociology at the University of Aberdeen and an early writer in the field, described globalization as "the compression of the world and the intensification of the consciousness of the world as a whole."In Global Transformations, David Held and his co-writers state: Although in its simplistic sense globalization refers to the widening and speeding up of global interconnection, such a definition begs further elaboration.... Globalization can be on a continuum with the local and regional. At one end of the continuum lie social and economic relations and networks which are organized on a local and/or national basis.
Globalization can refer to those spatial-temporal processes of change which underpin a transformation in the organization of human affairs by linking together and expanding human activity across regions and continents. Without reference to such expansive spatial connections, there can be no clear or coherent formulation of this term.... A satisfactory definition of globalization must capture each of these elements: extensity, intensity and impact. Held and his co-writers' definition of globalization in that same book as "transformation in the spatial organization of social relations and transactions—assessed in terms of their extensity, intensity and impact—generating transcontinental or inter-regional flows" was called "probably the most widely-cited definition" in the 2014 DHL Global Connectiveness Index. Swedish journalist Thomas Larsson, in his book The Race to the Top: The Real Story of Globalization, states that globalization: is the process of world shrinkage, of distances getting shorter, things moving closer.
It pertains to the increasin
Organization development is the study of successful organizational change and performance. OD emerged from human relations studies in the 1930s, during which psychologists realized that organizational structures and processes influence worker behavior and motivation. More work on OD has expanded to focus on aligning organizations with their changing and complex environments through organizational learning, knowledge management and transformation of organizational norms and values. Key concepts of OD theory include: organizational climate, organizational culture and organizational strategies. Organization development as a practice involves an ongoing, systematic process of implementing effective organizational change. OD is both a field of applied science focused on understanding and managing organizational change and a field of scientific study and inquiry, it is interdisciplinary in nature and draws on sociology, psychology industrial and organizational psychology, theories of motivation and personality.
Although behavioral science has provided the basic foundation for the study and practice of OD, new and emerging fields of study have made their presence felt. Experts in systems thinking, in organizational learning, in the structure of intuition in decision-making, in coaching whose perspective is not steeped in just the behavioral sciences, but in a much more multi-disciplinary and inter-disciplinary approach, have emerged as OD catalysts or tools. Kurt Lewin is the founding father of OD, although he died before the concept became mainstream in the mid-1950s. From Lewin came the ideas of group dynamics and action research which underpin the basic OD process as well as providing its collaborative consultant/client ethos. Institutionally, Lewin founded the "Research Center for Group Dynamics" at MIT, which moved to Michigan after his death. RCGD colleagues were among those who founded the National Training Laboratories, from which the T-groups and group-based OD emerged. Kurt Lewin played a key role in the evolution of organization development.
As early as World War II, Lewin experimented with a collaborative change-process based on a three-step process of planning, taking action, measuring results. This was the forerunner of action research, an important element of OD, which will be discussed later. Lewin participated in the beginnings of laboratory training, or T-groups. After Lewin's death in 1947, his close associates helped to develop survey-research methods at the University of Michigan; these procedures became important parts of OD as developments in this field continued at the National Training Laboratories and in growing numbers of universities and private consulting-firms across the country. Leading universities offering doctoral-level degrees in OD include Benedictine University and the Fielding Graduate University. Douglas and Richard Beckhard, while "consulting together at General Mills in the 1950s coined the term organization development to describe an innovative bottom-up change effort that fit no traditional consulting categories".
The failure of off-site laboratory training to live up to its early promise was one of the important forces stimulating the development of OD. Laboratory training is learning from a person's "here and now" experience as a member of an ongoing training group; such groups meet without a specific agenda. Their purpose is for the members to learn about themselves from their spontaneous "here and now" responses to an ambiguous hypothetical situation. Problems of leadership, status and self-serving behavior arise in such a group; the members have an opportunity to learn something about themselves and to practice such skills as listening, observing others, functioning as effective group members. Herbert A. Shepard conducted the first large-scale experiments in Organization Development in the late fifties, he founded the first doctoral program in organizational behavior at Case Western State University, his colleague, Robert Blake, was influential in making the term "organizational development" a more recognized field of psychological research.
As practiced, laboratory training was conducted in "stranger groups" - groups composed of individuals from different organizations and backgrounds. A major difficulty developed, however, in transferring knowledge gained from these "stranger labs" to the actual situation "back home"; this required a transfer between two different cultures, the safe and protected environment of the T-group and the give-and-take of the organizational environment with its traditional values. This led the early pioneers in this type of learning to begin to apply it to "family groups" — that is, groups located within an organization. From this shift in the locale of the training site and the realization that culture was an important factor in influencing group members emerged the concept of organization development. Underlying Organization Development are humanistic values. Margulies and Raia articulated the humanistic values of OD as follows: providing opportunities for people to function as human beings rather than as resources in the productive process providing opp
Rakesh Khurana is an American educator. He is Professor of Sociology in Harvard's Faculty of Arts and Sciences, Professor of Leadership Development at the Harvard Business School, co-Faculty Dean of Cabot House and Dean of Harvard College. Khurana was raised in Queens, New York, he received his bachelor's degree in Industrial Relations from Cornell University, his A. M. in sociology from Harvard in 1998, his Ph. D. in Organizational Behavior through a joint program between Harvard's Faculty of Arts and Sciences and Harvard Business School in 1998. Khurana is a founding team member of Cambridge Technology Partners and from 1998 to 2000 he taught at MIT. Khurana is the author of the book, Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs and related academic and managerial articles on the pitfalls of charismatic leadership. In 2007 he published his second book From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession.
The book received the Max Weber prize from the American Sociological Association's Organizations and Work Section and was the Winner of the 2009 Gold Medal Axiom Business Book Award in Career, Jenkins Group, Inc. and the Winner of the 2007 Best Professional/Scholarly Publishing Book in Business and Management, Association of American Publishers and the Finalist for the George R. Terry Award from the Academy of Management, he is the co-editor of the Handbook of Leadership Theory and Practice, published by Harvard Business School Press and the Handbook for Teaching Leadership: Knowing and Being, published by Sage Publications. In July 2014 he became Dean of Harvard College. In May, 2016, Harvard announced severe restrictions on undergraduates who belong to fraternities or gender-exclusive organizations not formally affiliated with the College, some of which are known as "final clubs." Some of these have existed as such for more than 200 years, but Harvard began to admit women undergraduates only in 1977.
Dean Khurana had worked with Drew Gilpin Faust, to develop the new policy. Khurana, according to the "Washington Post," said that the exclusion of women practiced by the clubs has no place in the 21st century; the restrictions on students belonging to these clubs include ineligibility for leadership positions in student organizations affiliated with Harvard, such as sports teams, ineligibility for required Harvard endorsement for fellowships such as Rhodes and Marshall fellowships. By mid-August 2018, Dean Khurana's black-listing of "unrecognized social organizations," rather than ameliorating the exclusion of women, had in fact eliminated four out of four sororities and three of five traditionally female clubs available to Harvard women. Harvard College profile http://www.hbs.edu/Pages/search.aspx?q=Rakesh%20Khurana
Bloomberg Businessweek is an American weekly business magazine published since 2009 by Bloomberg L. P. Businessweek, founded in 1929, aimed to provide information and interpretation about events in the business world; the magazine is headquartered in New York City. Megan Murphy served as editor from November 2016; the magazine is published 47 times a year. Businessweek was first published in September 1929, weeks before the stock market crash of 1929; the magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, finance and Washington Outlook, which made Businessweek one of the first publications to cover national political issues that directly impacted the business world. Businessweek was published to be a resource for business managers. However, in the 1970s, the magazine shifted its strategy and added consumers outside the business world; as of 1975, the magazine was carrying more advertising pages annually than any other magazine in the United States.
Businessweek began publishing its annual rankings of United States business school MBA programs in 1988. Stephen B. Shepard served as editor-in-chief from 1984 until 2005 when he was chosen to be the founding dean of the CUNY Graduate School of Journalism. Under Shepard, Businessweek's readership grew to more than six million in the late 1980s, he was succeeded by Stephen J. Adler of The Wall Street Journal. In 2006, Businessweek started publishing annual rankings of undergraduate business programs in addition to its MBA program listing. Businessweek suffered a decline in circulation during the late-2000s recession as advertising revenues fell one-third by the start of 2009 and the magazine's circulation fell to 936,000. In July 2009, it was reported that McGraw-Hill was trying to sell Businessweek and had hired Evercore Partners to conduct the sale; because of the magazine's liabilities, it was suggested that it might change hands for the nominal price of $1 to an investor, willing to incur losses turning the magazine around.
In late 2009, Bloomberg L. P. bought the magazine—reportedly for between $2 million to $5 million plus assumption of liabilities—and renamed it Bloomberg BusinessWeek. It is now believed McGraw-Hill received the high end of the speculated price, at $5 million, along with the assumption of debt. In early 2010, the magazine title was restyled Bloomberg Businessweek as part of a redesign; as of 2014, the magazine was losing $30 million per year, about half of the $60 million it was reported losing in 2009. Adler resigned as editor-in-chief and was replaced by Josh Tyrangiel, deputy managing editor of Time magazine. In 2016 Bloomberg announced changes to Businessweek, losing between $20 and $30 million. Nearly 30 Bloomberg News journalists were let go across the U. S. Europe and Asia and it was announced that a new version of Bloomberg Businessweek would launch the following year. In addition, editor in chief Ellen Pollock stepped down from her position and Washington Bureau Chief Megan Murphy was named as the next editor in chief.
International editions of Businessweek were available on newsstands in Europe and Asia until 2005 when publication of regional editions was suspended to help increase foreign readership of customized European and Asian versions of Businessweek's website. However, the same year the Russian edition was launched in collaboration with Rodionov Publishing House. At the same time, Businessweek partnered with InfoPro Management, a publishing and market research company based in Beirut, Lebanon, to produce the Arabic version of the magazine in 22 Arab countries. In 2011, Bloomberg Businessweek continued the magazine's international expansion and announced plans to introduce a Polish-language edition called Bloomberg Businessweek Polska, as well as a Chinese edition, relaunched in November 2011. Bloomberg Businessweek launched an iPad version of the magazine using Apple's subscription billing service in 2011; the iPad edition was the first to use this subscription method, which allows one to subscribe via an iTunes account.
There are over 100,000 subscribers to the iPad edition of Businessweek. On October 4, 2018, Bloomberg Businessweek published a report claiming that China had hacked dozens of technology corporations including Amazon and Apple by placing an extra integrated circuit on a Supermicro server motherboard during manufacturing; the claim has been questioned. The report was refuted by Amazon and Supermicro; the United States security department DHS and UK's GCHQ put out statements that they saw no reason to question those refutations. NSA claims to have no knowledge of the attack. FBI, named by Bloomberg to be investigating the alleged attack, is prevented from commenting on it, but notes that it would have an obligation to inform US companies of attacks like these, should they occur. Experts describe the attack as implausible and in technical details impossible. One source quoted in the Bloomberg text claims that several details of the attack as described by Bloomberg are identical to hypothetical scenarios that he presented to Bloomberg.
No other media organization has, by the end of October, corroborated the story. None of the 30 companies that Bloomberg claims were hit by the infiltration have confirmed this. Apple's CEO and Amazon's CTO have demanded. In the year 2011, Adweek named Bloomberg Businessweek as the top business magazine in the country. In 2012, Bloomberg Businessweek won the general excellence award for general-interest magazines at the National Magazine Awards. In 2012, Bloomberg Businessweek editor Josh
The Financial Times is an English-language international daily newspaper owned by Nikkei Inc, headquartered in London, with a special emphasis on business and economic news. The paper was founded in 1888 by James Sheridan and Horatio Bottomley, merged in 1945 with its closest rival, the Financial News; the Financial Times has over 740,000 digital subscribers. On 23 July 2015, Nikkei Inc. agreed to buy the Financial Times from Pearson for £844m and the acquisition was completed on 30 November 2015. The FT was launched as the London Financial Guide on 10 January 1888, renaming itself the Financial Times on 13 February the same year. Describing itself as the friend of "The Honest Financier, the Bona Fide Investor, the Respectable Broker, the Genuine Director, the Legitimate Speculator", it was a four-page journal; the readership was the financial community of the City of London, its only rival being the older and more daring Financial News. On 2 January 1893 the FT began printing on light salmon-pink paper to distinguish it from the named Financial News: at the time it was cheaper to print on unbleached paper, but nowadays it is more expensive as the paper has to be dyed specially.
After 57 years of rivalry the Financial Times and the Financial News were merged in 1945 by Brendan Bracken to form a single six-page newspaper. The Financial Times brought a higher circulation while the Financial News provided much of the editorial talent; the Lex column was introduced from Financial News. Pearson bought the paper in 1957. Over the years the paper grew in size and breadth of coverage, it established correspondents in cities around the world, reflecting a renewed impetus in the world economy towards globalisation. As cross-border trade and capital flows increased during the 1970s, the FT began international expansion, facilitated by developments in technology and the growing acceptance of English as the international language of business. On 1 January 1979 the first FT was printed in Frankfurt. Since with increased international coverage, the FT has become a global newspaper, printed in 22 locations with five international editions to serve the UK, continental Europe, the U. S.
Asia and the Middle East. The European edition is distributed in continental Africa, it is printed Monday to Saturday at five centres across Europe reporting on matters concerning the European Union, the Euro and European corporate affairs. In 1994 FT launched a luxury lifestyle magazine. In 2009 it launched a standalone website for the magazine. On 13 May 1995 the Financial Times group made its first foray into the online world with the launch of FT.com. This provided a summary of news from around the globe, supplemented in February 1996 with stock price coverage; the site was funded by advertising and contributed to the online advertising market in the UK in the late 1990s. Between 1997 and 2000 the site underwent several revamps and changes of strategy, as the FT Group and Pearson reacted to changes online. FT introduced subscription services in 2002. FT.com is one of the few UK news sites funded by individual subscription. In 1997 the FT launched a U. S. edition, printed in New York, Los Angeles, San Francisco, Atlanta and Washington, D.
C. although the newspaper was first printed outside New York City in 1985. In September 1998 the FT became the first UK-based newspaper to sell more copies internationally than within the UK. In 2000 the Financial Times started publishing a German-language edition, Financial Times Deutschland, with a news and editorial team based in Hamburg, its initial circulation in 2003 was 90,000. It was a joint venture with a German publishing firm, Gruner + Jahr. In January 2008 the FT sold its 50% stake to its German partner. FT Deutschland never made a profit and is said to have accumulated losses of €250 million over 12 years, it closed on 7 December 2012. The Financial Times launched a new weekly supplement for the fund management industry on 4 February 2002. FT fund management was and still is distributed with the paper every Monday. FTfm is the world's largest-circulation fund management title. Since 2005 the FT has sponsored the annual"Financial Times" and Goldman Sachs Business Book of the Year Award.
On 23 April 2007 the FT unveiled a "refreshed" version of the newspaper and introduced a new slogan, "We Live in Financial Times."In 2007 the FT pioneered a metered paywall, which lets visitors to its site read a limited number of free articles during any one month before asking them to pay. Four years the FT launched its HTML5 mobile internet app. Smartphones and tablets now drive 19 % of traffic to FT.com. In 2012 the number of digital subscribers surpassed the circulation of the newspaper for the first time and the FT drew half of its revenue from subscriptions rather than advertising. Since 2010 the FT has been available on Bloomberg Terminal. Since 2013 the FT has been available on Wisers platform. In 2016, the Financial Times acquired a controlling stake in Alpha Grid, a London-based media company specialising in the development and production of quality branded content across a range of channels, including broadcast, digital and events. In 2018, the Financial Times acquired a controlling stake in Longitude, a specialist provider of thought leadership and research services to a multinational corporate and institutional client base.
This investment builds on the Financial Times’ recent growth in sev
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, he was one of the founders of the consulting firm The Monitor Group and FSG, a social impact consultancy, he is credited for creating Porter's five forces analysis, instrumental in business strategy development today. Michael Porter's father was a civil engineer and Georgia Tech graduate who had gone on to a career as an army officer. Michael Eugene Porter received a BSE with high honors in aerospace and mechanical engineering from Princeton University in 1969, where he graduated first in his class and was elected to Phi Beta Kappa and Tau Beta Pi, he received an MBA with high distinction in 1971 from Harvard Business School, where he was a George F. Baker Scholar, a PhD in business economics from Harvard University in 1973. Porter said in an interview, he was on the NCAA championship golf squad at Princeton and played football and basketball growing up.
Porter credits Harvard professor Roland "Chris" Christensen with inspiring him and encouraging him to speak up during class, hand-writing Porter a note that began: "Mr. Porter, you have a lot to contribute in class and I hope you will." Porter reached the top of the class by the second year at Harvard Business School. At Harvard, Porter took classes in industrial organization economics, which attempts to model the effect of competitive forces on industries and their profitability; this study inspired the Porter five forces analysis framework for analyzing industries. Michael Porter is the author of 18 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, On Competition. A six-time winner of the McKinsey Award for the best Harvard Business Review article of the year, Professor Porter is the most cited author in business and economics. Porter stated in a 2010 interview: "What I've come to see as my greatest gift is the ability to take an extraordinarily complex, multidimensional problem and get arms around it conceptually in a way that helps, that informs and empowers practitioners to do things."
Porter wrote "The Competitive Advantage of Nations" in 1990. The book is based on studies of ten nations and argues that a key to national wealth and advantage was the productivity of firms and workers collectively, that the national and regional environment supports that productivity, he proposed the "diamond" framework, a mutually-reinforcing system of four factors that determine national advantage: factor conditions. Information and infrastructure were key to that productivity. During April 2014, Porter discussed how the United States ranks relative to other countries on a comprehensive scorecard called "The Social Progress Index", an effort which he co-authored; this scorecard rated the U. S. on a comprehensive set of metrics. S. placed 16th. Porter has devoted considerable attention to understanding and addressing the pressing problems in health care delivery in the United States and other countries, his book, Redefining Health Care, develops a new strategic framework for transforming the value delivered by the health care system, with implications for providers, health plans and government, among other actors.
The book received the James A. Hamilton award of the American College of Healthcare Executives in 2007 for book of the year, his New England Journal of Medicine research article, "A Strategy for Health Care Reform—Toward a Value-Based System", lays out a health reform strategy for the U. S, his work on health care is being extended to address the problems of health care delivery in developing countries, in collaboration with Dr. Jim Yong Kim, Sachin H. Jain, others at the Harvard Medical School and Harvard School of Public Health. In addition to his research and teaching, Porter serves as an advisor to business and the social sector, he has served as strategy advisor to numerous leading U. S. and international companies, including Caterpillar, Procter & Gamble, Scotts Miracle-Gro, Royal Dutch Shell, Taiwan Semiconductor. Professor Porter serves on two public boards of directors, those of Thermo Fisher Scientific and Parametric Technology Corporation, he plays an active role in U. S. economic policy, working with the Executive Branch and with Congress, has led national economic-strategy programs in numerous countries.
As of 2009 he was working with the presidents of South Korea. In 1983 Michael Porter co-founded a strategy-consulting firm. Deloitte Consulting acquired the Monitor Group in 2013 through a structured bankruptcy proceeding. Michael Porter has founded three major non-profit organizations: Initiative for a Competitive Inner City – ICIC in 1994, which addresses economic development in distressed urban communities, he currently serves on the Board of Trustees of Princeton University. In 2000, Michael Porter was appointed Bishop William Lawrence University Professor at Harvard, the university's highest recognition awarded to Harvard faculty. Porter has been criticized by some academics for inconsistent logical argument in his assertions. Critics have labeled Porter's conclusions as l