Competitive Strategy: Now We Tackle The Question Of How To Compete
Source: Unique Business Strategies
Competitive strategy provides a company with the actions to create offensive or defensive positions in an industry and thereby yield a superior return on investment. According to Porter a business should adopt a competitive strategy to secure a competitive advantage. Competitive advantage is anything which gives one organization an edge over its rivals in the products it sells or the services it offers. Firms have discovered many different approaches to this end, and the best strategy for a given firm is ultimately a distinctive creation reflecting its particular circumstances.