Business-level stragegy - integrated/coordinated set of commitments and actions the
firm uses to gain competitive advantage by exploiting core
... [Show More] competencies in specific
product markets
One Business-level strategy - single-product market/ single geographic location firm
employs one business-level strategy and one corporate-level strategy identifying
what/which industry the firm will compete in.
Several Business-level strategy - diversified firm employs separate business-level
strategy for each product market area in which it competes and one or more corporatelevel strategies dealing with product and/or geographic diversity.
Every firm must form and use... - a business-level strategy for each one of its
businesses.
Business-level strategy choices matter because... - long-term performance is linked to a
firm's strategies.
5 generic business-level strategies - Cost Leadership; Differentiation; Focused Cost
Leadership; Focused Differentiation; and Integrated Cost Leadership/Differentiation
Broad Target Markets - Firms seek to use their capabilities to create value for
customers on an industry-wide basis; competing in many customer segments
Narrow Target Markets - Firm intends to serve the needs of few customer groups,
tailoring its strategy to serving them at the exclusion of others.
A successful business level-strategy must match external opportunities/threats with... -
internal strengths (its core competencies)
The effectiveness of each strategy is contingent upon... - External opportunities/threats
and Internal strengths/weaknesses
Business-level Strategy Effectivenss - None of them are inherently or universally
superior to the others.
Cost Leadership Strategy - integrated set of actions taken to produce goods/services
with features that are acceptable to customers at the lowest cost, relative to that of
competitors with features acceptable to customers.
Cost Leadership Characteristics - Relatively standardized products; acceptable
features; lowest competitive price
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