When executives develop corporate strategy, they nearly always begin by analyzing the industry or

environmental conditions in which they operate. They then assess the strengths and weaknesses of

the players they are up against. With these industry and competitive analyses in mind, they set out to

carve a distinctive strategic position where they can outperform their rivals by building a competitive

advantage. To obtain such advantage, a company generally chooses either to differentiate itself from

the competition for a premium price or to pursue low costs. The organization aligns its value chain

accordingly, creating manufacturing, marketing, and human resource strategies in the process. On the

basis of these strategies, financial targets and budget allocations are set.

With this regard.

Examine in detail, the underlying objectives that a $$developing business$$ like TrendWave a retail company should follow when preparing its

business strategy. Provide examples to support your discussion.