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.
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 ...
Explanation of the business level strategies: Cost leadership, Cost focus, Differentiation leadership, and Differentiation focus.