Question

list the four generic competitive strategies.

list 3 common driving forces.

nam two steps involved in changing anoriblem culture.

Answer 1

four generic competitive strategies are as below=

Cost leadership= here the company tries to keep its products’ price lower than the price of the rival company’s products

Differentiation= The company tries to differentiate its products from the products of the rival organization on the basis of feature, service, shape size, performance or any other factor

Cost focus= the company tries to focus on the niche market having the lowest price

Differentiation focus= The company tries to focus on the niche market and provides the differentiation in the product

The 3 common driving forces are the profit generation, Competition avoidance and gaining greater market share.

The two important steps to change the culture are

Revisiting the core values= the company look at the core values to find out any flaws or areas of improvement

Establishing the culture goals= the company looks to develop the different cultural goals that are important for having the competitive advantage