There are four basic or generic strategies that a company can pursue to compete in its industry. The selection of the most appropriate strategy combines analyzing the industry, its competitors, and its resources and capabilities.

The four generic strategies are: Broad Cost Leadership, Focused Cost Leadership, Broad Differentiation, and Focused Differentiation. If several companies have the same strategy in the same industry, those firms' profitability could be lowered as well as the overall profitability of the industry. The best approach is to have a different strategy than your competitors.

Analyze the company: Tyson Foods (TSN)

Identify which of the four generic strategies your assigned company has and explain why. What evidence is there that supports your conclusion?

Identify what resources your company has to successfully pursue its generic strategy (tangible, intangible, and organizational capabilities).

Identify one major competitor to your assigned company and their generic strategy? Does the other company’s strategy help or hurt your selected company's profitability? Explain how and why.