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Strategic Selection, and Objectives

1) What are the different types of strategies and what are the essential differences among these strategies?

How do you determine which type of strategy is most appropriate for your organization? (Consider that more than one may be appropriate) In the context of strategy selection and execution, what strategic analysis tools are most applicable?

2) What are strategic objectives and what are their purposes?

What makes an effective strategic objective? What are some examples of strategic objectives for your organization (where you now work) or for a business with which you are familiar?

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Step 1.
According to Michael Porter there are three types of generic strategies, namely segmentation, differentiation, and cost leadership. Market segmentation refers to focusing on a narrow segment of the market. In case of cost leadership and differentiation the scope is broad. Differentiation is making unique products, cost leadership is having low costs and low prices, and segmentation refers to focusing on a market segment and providing either a differentiated product/service to them or ...

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This solution explains Strategic Selection. The sources used are also included in the solution.