BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a competitive strategy?
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Cost Customer Strategy
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Cost Leadership Strategy
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Stuck In The Middle
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Focus Strategy
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Explanation:
Detailed explanation-1: -The correct option is D) prospector Option d is correct because the prospection process does not lead to any competitive advantage.
Detailed explanation-2: -According to Porter’s Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.
Detailed explanation-3: -In other words, competitive strategy means to define how the firm intends to create and maintain a competitive advantage with respect to competitors. Holding a competitive advantage over competitors means to be more profitable than competitors over the long term.
There is 1 question to complete.