What is Strategy?
Strategy is the direction and scope of an organization in a changing business environment through the configuration of its resources and competence with a view to meeting stakeholder expectation.
By Toluwalope
Strategy is the direction and scope of an organization in a changing business environment through the configuration of its resources and competence with a view to meeting stakeholder expectation.
By Toluwalope
Michael porter with regard to business level strategy proposes two generic competitive strategies for outperforming other companies in the competitive space in a particular industry. The strategies are generic in the sense that it can be utilized by any firm within an industry notwithstanding its size. The two strategies are lower cost and differentiation strategies.
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By Toluwalope
Porters five forces is most suitable when analyzing the profitability or attractiveness of an industry where a company is considering entering into. It is always advisable for the company to use the five forces in order to determine if it is a worthwhile venture. It is also useful for a company operating in an industry but considering an exit from said industry.
So what are porter’s 5 forces?
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