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Michael Porter

Michael Porter. “The company without a strategy is willing to try anything.” Porter created 4 generic strategies that every company should choose from when starting a business or creating a business strategy. Porter’s Competitive Strategies. Broad. Market Scope. Narrow. Broad or Narrow?.

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Michael Porter

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  1. Michael Porter “The company without a strategy is willing to try anything.” • Porter created 4 generic strategies that every company should choose from when starting a business or creating a business strategy.

  2. Porter’s Competitive Strategies Broad Market Scope Narrow

  3. Broad or Narrow? • Managers must ask, “How broad or narrow is our target market?” • This determines who your strategy will cater to.

  4. Porter’s Competitive Strategies Broad Market Scope Narrow

  5. Porter’s Competitive Strategies Broad Market Scope Narrow Source of Competitive Advantage

  6. Competitive Advantage • Managers must ask, “How will we separate ourselves from the competition?” • Porter says that the 2 choices are having the lowest prices or having a uniqueness.

  7. Porter’s Competitive Strategies Broad Differentiation strategy Cost leadership strategy Market Scope Focused Differentiation Strategy Focused low cost strategy Narrow Low price Uniqueness Source of Competitive Advantage

  8. Porter’s Competitive Strategies Broad Market Scope STICHES Narrow Low price Uniqueness Source of Competitive Advantage

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