Business Level Strategies
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A). Describe the fundamental objectives of using any of the business-level strategies to create an effective plan and the way these objectives impact the action steps a company will take to gain a competitive advantage.
B). Explain the analysis a company must make prior to developing a successful business-level strategy.
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Solution Summary
Explanation of the business level strategies: Cost leadership, Cost focus, Differentiation leadership, and Differentiation focus.
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The business strategies that companies use to gain competitive advantage are cost leadership, cost focus, differentiation leadership, or differentiation focus (QuickMBA, 2010).
Cost leadership is where a company produces the same quality product as their competition but offers it to the consumer at a lower price. This strategy is one that allows the company to gain competitive advantage by gaining market share through offering a lower priced item of the same quality of it's competition. Offering the products at a lower price can only be accomplished if the company can produce them cheaper then the competition. By producing the products cheaper, and offering them at ...
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