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The Five Generic Competitive Strategies: Which One to Employ?

View more PowerPoint from Ami Sampath

Strategy and Generic Competitive Advantage

http://bit.ly/xQQ7s8

Evaluation of Case Readings: Use the framework on five distinct generic competitive strategy approaches to determine the core competitive strategy applied by the subject company.

Key Pointers

Winning strategies are grounded in sustainable competitive advantage

A company has core competitive advantage whenever it has

• an edge over rivals in attracting customers and
• defending against competitive forces

Competitive Strategy  - consists of the business approaches and initiatives it undertakes

• to attract customers and fulfill their expectations,
• to withstand competitive pressures,and
• to strengthen its marke position

Competitive Strategy has a narrower scope than Business Strategy.

• Competitive Strategy deals exclusively with management's action plan for competing successfully and providing superior value to customers. 
• Business strategy concerns not only how to compete but also how management intends to address all other strategic issues confronting the business.

The Basis of Competitive Advantage

The biggest and the most important difference among competitive strategies boil down to

• whether the company's target market is broad or narrow.
• whether it is pursuing a competitive advantage linked to low cost or product differentiation.

CSR as a Basis for Strategy

      ayushveda.com

Michael Porter States that the factors that SET THE LIMITS TO THE FORMULATION of strategies are the;

>strengths and weaknesses of the company

>threats and opportuity to the industry

>personal values of the key implementers

>broader societal expectations

Collectively, this has become known a the basis for corporate strategies.

1. Thus, it is the task of the of the strategic manager to anticipate changes in the different macroenvironmental segments (8 segments).
2. Management must then change the internal environment of the firm in order to prepare the firm to either cope or exploit these potential changes in the external environments.

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"If we are to take corporate responsibility seriously,

then strategic managers have a responsibilty to make sure that

business firms transcend or go beyond adapting to the environment. 

It is infact their responsibility to become Agents of Change in the macroenvironment".

*Underline and bold letters are supplied for emphasis

Prof Elfren Cruz, "Family Business and Strategic Management"

"In the context of Porter's framework, the social responsibilities of business are not an objective but, rather one of the basis for strategy. From this perspective, corporate social responsibility is, therefore, not a matter of choice but an intrinsic step in strategy formulation".*Underline and bold letters are supplied for emphasis

Prof Elfren Cruz, "Family Business and Strategic Management"

Meaning of Corporate Social Responsibility (CSR)

"In the present Philippine environment, corporate social responsibility must be defined as the obligations and responsibilities of business to society, that in the pursuit of the profit motive, the basis for its corporate acts and strategies should include its commitment to protecting the environment, upholding te rights of its workers and contributing to the improvement of the quality of life of its community and society at large".*Underline and bold letters are supplied for emphasis

Prof Elfren Cruz, "Family Business and Strategic Management"