Ashima Negi is teaching live on Unacademy Plus
By:- Assistant Professor(Ms.)Ashima Negi Candidate For Doctorate (Ph.D.) UGC NET-Management. CA(I), MBA Finance, BBA, PGDM-Materials Management, NCFM, TOM & ISO 9000, QS g000 & Assurance, CCIBL
Strategic Management Porter's Generic Strategies
Porter's Generic Strategies -A firm positions itself by leveraging its strengths -Michael Porter has argued that a firm's strengths ultimately fall into one of two headings: cost advantage and differentiation. By applying these strengths in either a broad or narrow scope, three generic strategies result: cost leadership, differentiation, and focus
Focus Strategy The focus strategy concentrates on a narrow segment and within that segment attempts to achieve either a cost advantage or differentiation. The premise is that the needs of the group can be better serviced by focusing entirely on it - A firm using a focus strategy often enjoys a high degree of customer loyalty, and this entrenched loyalty discourages other firms from competing directly.