Business Studies Homework

| August 25, 2015

Please submit your responses to each of the following questions, in order, in MSWord.  Double space your submission and put your name on a header in the upper right corner of the paper.

 

While I understand that it may be difficult to articulate a point better than, or differently than, the authors, make an effort to show that you have actually thought about what was written and how and why it answers the questions.  For full credit, you must use examples for outside of the textbook to illustrate the concepts.

  1. What is the difference between competitive strategy and business strategy?
  1. Describe the strategy of striving to be the industry’s overall low cost provider. What does a company have to do to achieve low-cost provider status?
  1. What market conditions and circumstances make a low-cost provider strategy attractive? What are the pitfalls in pursuing a low-cost provider strategy—what can go wrong?
  1. What are the pros and cons of a broad differentiation strategy?
  1. What are the distinctive features of a broad differentiation strategy? Under what circumstances is a broad differentiation strategy appealing?
  1. What are the distinctive features of a best-cost provider strategy? Under what circumstances is a best-cost provider strategy appealing?
  1. What are the distinctive features of a focused low-cost strategy? How does it differ from a low-cost leadership strategy?
  1. What are the distinctive features of a focused differentiation strategy? How is it different from a broad differentiation strategy?
  1. Describe the two basic cost-reducing approaches a company can take to become a low-cost provider in its industry.
  1. What type of competitive advantage does a best-cost provider strategy aim at achieving? Explain what a company has to do to achieve this advantage.
  1. Explain how the strategic target of a low-cost provider differs from the strategic target of a best-cost provider.
  1. Explain how the marketing emphasis of a low-cost provider differs from the marketing emphasis of a differentiation strategy.

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