Mgt 498 Week 2 DQ - 16184

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Mgt 498 Week 2 DQ

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1.         What types of competitive strategies are the most effective? Will the same strategy work in most venues? Why or why not?

Competitive strategy is concerned with how a company can gain a competitive advantage through a distinctive way of competing. There are three basic types of competitive strategies a company can follow namely cost leadership, differentiation, and focus. The choice of following one of the strategies depends on the firm’s relative position within the industry and its choice of competitive scope. The three types of competitive strategies are effective if the company implement them rightly. The same strategy cannot work in most venues. The reason is that every firm has different factor to consider. For example one firm can produce goods at low cost while other firm can produce a unique product. The first firm can adopt cost leade