The Generic Competitive Strategies
There are essentially three elements for a successful competitive strategy: unique, sustainable, and relevant. Unique means that nobody else is doing it, and coupled with sustainability means that it is not easily replicated. This is the difficult element in a competitive market. Relevant means that it is relevant to the customer, which maintains the customer focus required for success in today’s business environment.
Porter (1980) identified the generic strategies for competitive advantage. These strategies help to determine the basis of competition, whether cost-driven or value-driven (differentiation), and the competitive scope. It is about positioning the organization in ...
Get Management Accounting in Support of Strategy now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
