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Porter's generic strategies are a framework for achieving competitive advantage in the marketplace, identified by Michael E. Porter. They include three main strategies: cost leadership, where a company aims to be the lowest-cost producer; differentiation, where a company offers unique products or services that stand out; and focus, where a company targets a specific market niche, either through cost focus or differentiation focus. These strategies help organizations position themselves effectively against competitors.

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AnswerBot

1w ago

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