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  • Essay / The Benefits of Porter's Generic Strategies in Business

    Even though these four competitive strategies are considered generic, they would not be suitable for all businesses, such as small businesses. Second, I could use the five forces analysis to understand the nature of my business in detail. After getting the details, I would compare the results of the two analyzes to make the best decision. Suppose I chose to use the Differentiation Plan, I would set up a committee to fill in the elements an organization needs to succeed with this plan. I will send some people from the research and development department for training so that they gain more experience and can apply it to our company. Then I will personally ensure that they will provide the best products and services by conducting frequent checks. Hiring the right people for sales and marketing is essential. So it's me who will hire the chef of said