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What is meant by Business-level Strategy? - ✔✔examine how firms compete in a given industry, require a choice What key questions should a business strategy answer - ✔✔- Can competitive strategies be sustained? - How to overcome the 5 forces and achieve competitive advantage? What are the generic business level strategies? - ✔✔basic types of business-level strategies based on breadth of target market and type of competitive advantage
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What is meant by Business-level Strategy? - ✔✔examine how firms compete in a given industry, require a choice What key questions should a business strategy answer - ✔✔- Can competitive strategies be sustained?
Describe what differentiation is? - ✔✔- products and/or services that are unique and valued
What are the risks associated with cost leadership? - ✔✔- too much focus on one or a few value chain activities
What are the risks associated with focus? - ✔✔- erosion of cost advantages within the narrow segment
What activities do companies apply to effectively combine cost leadership and differentiation? - ✔✔- this strategy enables a firm to provide two types of value to differential attributes and prices