
239
Chapter 12
Strategic Management
12.1 Introduction
From the start, your immediate task is to identify and establish your com-
pany’s sustainable strategic competitive advantage.
1,2
Your strategy is your
business approach to a set of competitive moves designed to generate a suc-
cessful outcome for your enterprise. It is your game plan for:
◾ Strengthening your organization’s competitive position
◾ Satisfying customers
◾ Achieving your performance targets
You have three generic strategies available to you: (1) focus, (2) differen-
tiation, and (3) cost leadership, as shown in Figure12.1.
A focused (or market niche) outcompetes rivals by offering in ...