Question: BUSINESS - LEVEL STRATEGY Define each generic business - level strategy and describe how they are different from each other. What are the risks and

BUSINESS-LEVEL STRATEGY
Define each generic business-level strategy and describe how they are different from each other.
What are the risks and benefits of each of the generic strategies?
How does the general profile or characteristics of firms that pursue each of the generic strategies differ among the generic strategies?
What is the relationship between the generic strategies and the five forces that determine the average profitability within an industry?
What does stuck in the middle mean? Why is it risky to be in the middle?
Explain why the industry life cycle concept is an important factor in determining a firms business-level strategy.

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