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Pages 8 (2008 words)
Mutual Exclusiveness of Generic Strategies Summary This critical analysis provides insights into the mutual exclusiveness of cost leadership and differentiation as components of generic strategies. The essay looks at the various justifications why cost leadership and differentiation should not be seen as being mutually exclusive.
The link between strategy and business performance has taken the center stage in organizations’ preoccupation with how best to increase their profits. These organizations are now investing in strategic management as a means of achieving an edge over their competitors. For this reason, finding the best ways of incorporating effective strategies call for a firm to consider a number of strategies available and then choose the most suitable from the available theories and practices. Organizations are now looking for strategies that will give the competitive advantage over customers’ decision to choose products and services from one firm over the other. Therefore, firms are concerned with how best to make use of the generic strategies as proposed by Michael Porter. Bearing in mind the warning that porter gave concerning their mutual exclusiveness, firms are careful in their decisions to adopt cost leadership, differentiation or both of the strategies. A firm can achieve a higher profit margin compared to its rival in two ways. ...
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