GK
HUMAN RESOURCE MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which one is part of Michael Porter’s generic strategies?
|
|
Focus strategy
|
|
|
Differentiation strategy
|
|
|
Cost leadership strategy
|
|
|
All ofthe above
|
Explanation:
Detailed explanation-1: -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-2: -The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus.
Detailed explanation-3: -Porter’s generic strategies describe how a company pursues a competitive advantage across its chosen market scope. The generic strategies are either lower cost, differentiation, or focus.
There is 1 question to complete.