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Lilia Yuldasheva
on Nov 09, 2024

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There are ______ generic competitive strategies by which a small business can gain a competitive advantage.

A) two
B) three
C) four
D) five

Generic Competitive Strategies

Frameworks proposed by Michael Porter that describe three potential strategies to achieve a sustainable competitive advantage: cost leadership, differentiation, and focus.

Competitive Advantage

A scenario or element that positions a business in a stronger or more favorable spot relative to its competitors.

  • Understand the importance of distinguishing and competitive tactics in achieving business success.
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Hunter HintzNov 15, 2024
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