Generic Competitive Strategies Review
Description
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Answer each question in detail. Each question should be answered using at least 1.5 to 2 paragraphs. Do not copy directly from the textbook, use outside information to support examples, and use your own words. Each answer should be thorough and indicative of a senior-level student.
Chapter 5
- What are the five generic competitive strategies? Briefly describe each one and identify the type of competitive advantage that each strategy is aimed at achieving.
- What market conditions and circumstances make a low-cost provider strategy attractive? What are the pitfalls in pursuing a low-cost provider?
- What are the distinctive features of a focused differentiation strategy? How is it different from a broad differentiation strategy?
Chapter 6
- Explain in detail the Blue Ocean Strategy. Discuss the positive aspects of the strategy. Discuss the drawbacks of this strategy.
- Describe in detail what is related diversification and unrelated diversification. Which is the better approach to diversificationa strategy of related diversification or a strategy of unrelated diversification? Explain and support your answer.
Chapter 9
1. Explain what is ethics. Explain what is business ethics. Does a substantial difference exist between ethics and business ethics?
2. Define in detail ethical universalism, ethical relativism, and integrative social contracts theory.
