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Explain briefly the five generic strategies suggestes by Prof. Michael Porter. Using an industry of your...

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General Management

Explain briefly the five generic strategies suggestes by Prof.Michael Porter. Using an industry of your choice, describe twofirms in that industry that use different generic strategies.

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answer 1 Porters Generic Competitive Strategies porter provide a model in which firms can position itself within the industry by using thier competitive advantages which can be defined in following generic strategies 1 COST LEADERSHIP firm can get the competitive advantage over its competitors by providing low cost productsservices to customers in broad market areathe cost advantage can be gain by using advanaced technology optimum use of resources reduce wastage improved quality etc 2 PRODUCT DIFFERENTIATION another generic strategy is    See Answer
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