Article on Significance of Generic Strategies to Business Policy

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Added on 2020-05-28

Article on Significance of Generic Strategies to Business Policy

Added on 2020-05-28

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Running Head: BUSINESS STRATEGY Business Strategy: Article Review

Article on Significance of Generic Strategies to Business Policy_1

BUSINESS STRATEGY1Table of ContentsArticle 1.......................................................................................................................................................3Article 2.......................................................................................................................................................4Article 3.......................................................................................................................................................5Article 6.......................................................................................................................................................6Article 7.......................................................................................................................................................7References...................................................................................................................................................9

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BUSINESS STRATEGY2Article 1Murray, AI 1988, 'A Contingency View of Porter's "Generic Strategies"', Academy ofManagement Review, vol. 13, no. 3, pp. 390-400. Available from:10.5465/AMR.1988.4306951.The article “'A Contingency View of Porter's "Generic Strategies” by Murray seeks to addressthe implementation of contingency approach to the generic strategies of Porter. The articleindicates the significance of generic strategies to the business policy researchers as itdifferentiates the strategies of high performing companies from the less successful companies inthe similar industry. It states that Porter has suggested different generic strategies, which are usedby the high performing firms, i.e. cost leadership, production differentiation, cost focused etc.The research problem that is addressed in the paper is whether these strategies can beimplemented simultaneously. The author wants to position the fact that how the Porter’s genericstrategies are connected with the external preconditions, like; customer price sensitivity. As perthe view of Michael Porter, product differentiation and cost leadership can be practicedsimultaneously only under exceptional situations. Apart from this, it is not clear in the article thathow these generic strategies can be executed by the organizations (Murray, 1988). After theimplementation of contingency approach, the author founded that Porter’s strategies are notexclusive mutually and each and every strategy can be linked with different strategic means. Theorganization can use these different strategic means for attaining product differentiation. By the critical analysis of the article, it can be stated that generic concept is very muchdisappointing and confusing as it does not describe how the generic strategies should beexecuted. The author has suggested an approach, i.e. contingency approach that can be used toovercome the weaknesses and issues related to generic concept implementation. This approachshows that there is no any specific reason that companies should restrict themselves to only onegeneric strategy (Ahmedi, Salamzadeh, Daraei, & Akbari, 2012). There are so many studies,which have evaluated different aspects of generic strategies and their conclusions were differentas they used different approaches for the implementation of the strategies.

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Article on Significance of Generic Strategies to Business Policy