1. Does your selected business have differentiated products or services? If so, what is the basis for this differentiation from the competition?
2. Does your firm have a cost -leadership position in this business? If so, can you identify which cost drivers it uses effectively to hold this position?
3. What is your firm’s approach to the market? If it segments the market, identify the scope of competition it is using.
4. using the answers to the preceding questions, identify which generic business strategies your firm is employing. Is the firm leveraging the appropriate value and cost drivers for the business strategy you identified? Explain why or why not.
5. As noted in the chapter, each business strategy is context-dependent. What do you see as positives and negatives with the selected business strategy of your firm in its competitive situation?
6. We identified strategic groups in the industry relevant to your firm. Review the firms listed in the same strategic group as your selected firm. See if there is a similarity with the generic business strategy used by each. In most strategic groups, there will be market and (some) strategy similarities across the firms.
7. What suggestions do you have to improve the firm’s business strategy and strategic position?