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Discuss Michael Porter's five generic strategies
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Running head: MICHAEL PORTER’S FIVE GENERIC STRATEGIES
Michael Porter’s Five Generic Strategies
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MICHAEL PORTER’S FIVE GENERIC STRATEGIES
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Michael Porter’s Five Generic Strategies
Some of the causes of the differences in competitive strategies adopted by an
organization include custom-designed actions that align with the changes in the industry and the
prevailing internal circumstances. There are variations in the outlook of managers on the future
market conditions and the most effective way for alignment of the strategy of the organization
with the prevailing conditions. Furthermore, there are differences in the intended approach to
outperform its competitors as well as the most sensible strategic option for the organization. The
differences in competitive advantage relate to having a narrow or broad target market and if the
competitive advantage emphasizes on product differentiation or low cost. It results in five
competitive strategies.
First, a low-cost provider strategy concentrates on achieving lower general costs
compared to its competitors. The aim is to appeal to a broader customer...
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