Asked by joely Tornero on Sep 26, 2024

____ are the two key variables in Porter's generic competitive strategies model.

A) Resources and markets
B) Primary markets and secondary markets
C) Time and cost
D) Cost and volume
E) Competitive advantage and competitive scope

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as superior quality, cost structure, or customer service.

Competitive Scope

The breadth and range of activities a company undertakes to compete, including geographic reach, product and service segments, and target markets.

  • Acknowledge the repercussions and techniques of Porter's generic competitive strategies paradigm.
  • Appreciate the critical significance of competitive advantage in strategic business planning.