Strategic Management & Business Development

Corporate and Competitive Strategy

In competitive industries, the high-level generic strategy is necessarily a competitive strategy. In most cases, the selected approach results from two choices. The strategy builder must choose:

Firstly, a plan of attack, which is the general approach for differentiating the firm and it’s offering from the competition.

Secondly, the battlefield, which is the specific market and market focus where competition takes place.

Strategy formulation Step 3 addresses the "How" question: Exactly how does the company achieve objectives? For firms in competitive industries, the question becomes this: Specifically, how does the company win against competitors, create customer demand, and earn, sustain, and grow profits? For these firms, the generic business strategy is a competitive strategy.