Los 44.e

Question 1

How are competitive strategies viewed?

Answer 1

competitive strategies can be evaluated by considering whether the strategy can respond appropriately to the relevant forces, whether the strategy is neutral to or benefits from relevant external influences, and whether the firm is able to execute the strategy properly

Question 2

What are the three types of strategies

Answer 2

Cost leadership = have the lowest costs of production in the industry
Differenciation strategy = distinctive products and services, cost of differenciation needs to be less than price premium
Focus strategy = targeting a niche market