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Business Strategy Assignment: Porter's Generic Strategy

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Added on  2020-05-28

Business Strategy Assignment: Porter's Generic Strategy

   Added on 2020-05-28

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Running head: BUSINESS STRATEGY Business StrategyName of the StudentName of the UniversityAuthor note
Business Strategy Assignment: Porter's Generic Strategy_1
1BUSINESS STRATEGYTable of ContentsArticle 1...........................................................................................................................................1Article 2...........................................................................................................................................2Article 3...........................................................................................................................................4Article 4...........................................................................................................................................5Article 5...........................................................................................................................................7Bibliography....................................................................................................................................9
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2BUSINESS STRATEGYArticle 1Business Strategy- Journal Article Review Title of the ArticleA Contingency View of Porter’s “Generic Strategies”DateofPublication/Volumeand Issue1988Purpose: What Doesthe article set out todo? The aim of the article is to link the Porter’s Generic Strategies with theexternal preconditionsTheory: Does thearticle use anytheoretical frameworkrelated to BusinessStrategy? If yes,explain the frameworkbrieflyYes, the article review the Porter’s Generic Strategy framework toexplain the possibility of view related to the topic. The theory explains the profitability of a firm depending on the positionthat the firm holds in the industry it operates. The profitabilitymentioned in this strategy is above average profit. To gain such profit,the firm has to gain competitive advantage over other firms. Theframework is in a matrix format with four variables such as costleadership, differentiation, cost focus and differentiation focus. Thesevariables are categorized under two broad strategies such ascompetitive advantage and competitive scope. Methodology: Whatmethodology have theauthors used to collectthe data?The article has viewed past literatures provided by various scholars onthe topic. It has given a contingency view on the Generic Strategiesgiven by various scholars. Thus, the methodology used secondary dataand analysis has be done on a qualitative basis. It has attempted to do atheoretical review on the topic. Literature review has been done invarious sections to get a detailed information about the topicData Analysis: Howwas the data analyzed?Data was analyzed in a descriptive manner. Findings from the literaturereview have been done in a descriptive manner. This is because adescriptive analysis helped the author to write the findings in details tomake it easier for the reader to understand. Descriptive analysis ishelpful for any kind of analysis as it discusses every minute point of thefindings. Findingsandconclusion The finding from the research shows that Generic Strategy is one of themost interesting strategies as it helps in differentiating the strategiesused by much successful firms compared to strategies used by their lesssuccessful competitors. However, according to the research, theconcept seems to be confusing as it fails to explain the usage of thestrategy by the organization. How did the articlecontribute to thetheories and conceptsof Business Strategy?The article explained the Porter’s Generic Strategy in details to explainthe complexity of the theory and the usefulness of the theory in thebusiness to gain competitive advantage.
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