Critically discuss the global and generic strategies.
Expert Answer
Generic strategy Michael porter developed three genericstrategies that a company could use to gain competitive advantageback in 1980 these three are cost leadership differentiation andfocus . The cost leadership strategy advocates gaining competitiveadvantage due to the lowest cost of production of a product orservice lowest cost need not mean lowest price.cost are removedfrom every link of the value chain including production marketingand wastage and so on the product could still be priced atcompetitive parity but because of the lower cost of production thecompany would be able to sustain itself even through lean
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