Objective of developing firm-specific business model

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At the center of a business strategy is the objective of developing a firm-specific business model that enables a company to gain a competitive advantage over other firms operating in the same market. As our textbook states: "A business-level strategy is an action plan the firm develops to describe how it will compete in its chosen industry or market segment". As we noted earlier in the semester, the way that strategic managers define their company's business is important as it relates to defining a business-level strategy. The process of this definition entails decisions made in the following key areas: Customers' Needs: What is to be satisfied? Customer Groups: Who is to be satisfied? Distinctive Competencies: How will customers' needs are to be satisfied. The text describes five generic business strategies that are typically used by firms. Pick one of these strategies and discuss a particular company that is utilizing such a strategy. (Try not to pick a company that is mentioned in the textbook). Discuss it in terms of "evidence" you see that the firm is using such as strategy. Discuss the "What", "Who" and "How" (see above bullet points). Do you agree/disagree with the strategy? What would you do differently?

Reference no: EM132303629

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