Ch5LearnObj - What are the 4 basic approaches that an...

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MGMT4890 Chapter 5 – The Five Generic Competitive Strategies Learning Objectives: What is competitive strategy? What is the objective of competitive strategy? What is a competitive advantage? Identify, define, and describe the 5 generic competitive strategies? Describe in some detail Figure 5.1. What is a low cost provider strategy? What are the 2 major avenues for achieving a cost advantage and how can each be used to achieve a low cost advantage? What are the keys to success in achieving low cost leadership? When does a low-cost provider strategy work best? What are the pitfalls of a low-cost provider strategy? What is a differentiation strategy and how can it be used to achieve a competitive advantage? Where along the value chain can a differentiation advantage be achieved?
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Unformatted text preview: What are the 4 basic approaches that an organization can use to create a differentiation advantage? When does a differentiation strategy work best? What are the pitfalls of a differentiation strategy? Why is it important to keep the costs of differentiation in-line? What is a best-cost provider strategy and how can it be used to achieve a competitive advantage? When does a best-cost provider strategy work best? What is the big risk of a best-cost provider strategy? What is a focused or niche strategy? Identify and describe the 2 types of focus strategies? When is focusing attractive? What are the risks of focusing?...
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This note was uploaded on 07/31/2011 for the course GEB GEB 4890 taught by Professor Geiger during the Summer '08 term at University of South Florida.

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