Lesson_03_Assignment_v2

Lesson_03_Assignment_v2 - Porter’s differentiation aims...

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Unformatted text preview: Porter’s differentiation aims to provide a product or service that distinguishes itself from the competition. Miles and Snow’s prospector strategy involves risks, growth, new opportunities and innovation. Both strategies employ innovation, encourage creativity and involve risk-taking; neither places emphasis on efficiency. Both would benefit from collaboration between departments, such as the R&D team working with the advertising team. Porter’s strategy is focused on providing a unique product or service whereas Miles and Snow’s prospector strategy is aimed at growth within a changing environment. In the latter case, a company is not necessarily providing anything unique but rather keeping up with the ever-changing environment. Next, I compared Porter’s low cost leadership strategy to Miles and Snow’s defender strategy. Porter’s low cost leadership strategy attempts to increase market share by beating competitors’ costs. I t aims to offer the lowest price while still achieving profitability and...
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Lesson_03_Assignment_v2 - Porter’s differentiation aims...

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