Can firms combine the generic strategies of overall cost leadership and differentiation? Why or why not?
Answer to relevant QuestionsExplain why the industry life cycle concept is an important factor in determining a firm’s business-level strategy. Think of a firm that successfully achieved a combination overall cost leadership and differentiation strategy. What can be learned from this example? Are these advantages sustainable? Why? Why not? Discuss some of the various means that firms can use to diversify. What are the pros and cons associated with each of these? What are some of the ethical issues that arise when managers act in a manner that is counter to their firm’s best interests? What are the long-term implications for both the firms and the managers themselves? The Internet has lowered the entry barriers for smaller firms that wish to diversify into international markets. Why is this so? Provide an example.
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