What are the three generic competitive strategies that Porter promotes as the means for outperforming other corporations in a particular industry?
A) competitive scope, differentiation, and focus
B) diversification, concentration, and competitive scope
C) cost, competitive scope, and focus
D) concentration, cost leadership, and differentiation
E) cost leadership, differentiation, and focus

Question

Quizplus · Accepted Answer

Porter's generic competitive strategies are cost leadership, differentiation, and focus. Cost leadership involves achieving the lowest cost of production and operations in the industry. Differentiation involves creating a unique product or offering that sets it apart from competitors. Focus involves targeting a specific segment or niche within the industry. These three strategies are the means for a company to outperform other corporations in a particular industry.

What Are the Three Generic Competitive Strategies That Porter Promotes