Management and Organization in Global Environment

1Running head: MANAGEMENT AND ORGANIZATION IN GLOBAL ENVIRONMENT
Management and Organization in Global Environment
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2MANAGEMENT AND ORGANIZATION IN GLOBAL ENVIRONMENT
Porter’s Competitive Strategies
Michael Porter was a pre-eminent thinker of business strategy back in the 80s and
90s. He was the founder of two very famous competitive strategies, the five forces of
competition and the generic competitive strategies. In case of the five forces, Michael
Porter had an argument that the intensity of competition and industry profits were
decided by these five forces drawn from classic economics. In case of generic
competitive strategies, Michael Porter identified three suitable for business success:
cost leadership, differentiation, and focus (Porter 2008).
Strategic planning is one of the most basic business processes that make sure any
abortionist has the capability of maintaining a competitive lead over their competitors
with the help of designing strategies that can make sure market leadership is captured
(Bryson 2018). Some of the most common models of strategic planning makes use of
porter's competitive models of cost leadership, differentiation, and focus. Cost
leadership focuses on providing lowest possible product and service prices to the
customers so that they can be attracted if they wish to buy at a lower price.
Differentiation is based on the development of uniqueness in the products and
services offered so that the clients who are looking for search unique provisions can
get attracted and retained to the extent of developing an unique client base (Valipour,
Birjandi and Honarbakhsh 2012). The focus approach makes use of a developmental
emphasis of producing products and offering services that get directly offered to any
specific section of the market (McGrath 2013). All these competitive strategies is
adopted can help an abortionist developer competitive edge within the market. Even
though there can never be a single successful strategy, these approaches can help in
strategic planning of an online fashion business in Australia.