Strategic Management: Porter’s Generic Strategies and Their Application in the Present Business Scenario

Running head: STRATEGIC MANAGEMENT
Strategic Management
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Executive Summary
The report has thrown light on the overall analysis of the strategic management concept
named Porter’s Generic Strategies and the use of the same in the present business scenario.
The analysis of the concept along with the evaluation and evolution of the concept has been
addressed in the report. Moreover, the analysis has been done on understanding the pitfalls
and the advantages of the porter’s generic strategies have been analyzed in an effective
manner. With the implementation of the different examples, the concept has been identified,
and the recommendations have been provided as well in order to improve the overall aspect.

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Table of Contents
Introduction................................................................................................................................3
Overview of Porter’s Generic Strategies....................................................................................3
Year of Discussion of Porter’s Generic Forces..........................................................................6
Arguments Related to Creation of Porter’s Generic Strategies.................................................6
Application of Porter’s Generic Forces in Present Business Scenario......................................7
Example of the Organization which Use Cost-Leadership Strategies...................................9
Example of the Organization which Use Differentiation Strategies....................................10
Example of the Organization which Use Focus Strategies..................................................11
Relevancy of Porter’s Generic Forces in Handling Business Challenges................................12
Conclusion................................................................................................................................13
References................................................................................................................................15

3STRATEGIC MANAGEMENT
Introduction
The report throws light on the overall analysis of the strategic management aspect
which is required to be defined along with providing the different arguments related to the
strategic management concept. The strategic management concept which has been selected in
the assignment is Porter’s Generic Strategies wherein proper examination of the concept is
required to be done in order to understand the overall analysis of the strategy in the present
scenario and whether the concept is relevant in managing the business challenges in the
present scenario as well. As commented by Wicker et al. (2015), the Porter's Generic Forces
are the category of the various strategies which will be helpful for the different organizations
to successfully compete in the market and become more competitive in their operations.
Overview of Porter’s Generic Strategies
As discussed by Wicker et al. (2015), Porter’s Generic Strategies helps in describing
how the organization pursues the overall competitive advantage across the chosen market
scope. As commented by Parnell (2016), the generic strategies are used in determining the
direction of the organization and Michael Porter has chosen major four strategies which the
companies can choose from. Moreover, the company must choose a clear course as it will be
helpful for the companies can beat the competition. The four strategies as per Porter's Generic
Forces include the following:
 Cost Leadership
 Differentiation
 Cost Focus
 Differentiation Focus