Describe the three generic strategies that an EMC can use as a framewo

Question

Describe the three generic strategies that an EMC can use as a framework to achieve strategic advantage.

24 Jan 2022

Answer :

Word Count : 468

These three approaches are examples of "generic strategies," because they can be applied to products or services in all industries, and to organizations of all sizes. They were first set out by Michael Porter in 1985 in his book, "Competitive Advantage: Creating and Sustaining Superior Performance."

Porter called the generic strategies "Cost Leadership" (no frills), "Differentiation" (creating uniquely desirable products and services) and "Focus" (offering a specialized service in a niche market). He then subdivided the Focus strategy into two parts: "Cost Focus" and "Differentiation Focus.

The Cost Leadership Strategy

Porter's generic strategies are ways of gaining competitive advantage – in other words, developing the "edge" that gets you the sale and takes it away from your __________ ___ _____ ________ ____ ______ ________ _________ ____.
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