Porter's generic strategies
What Porter's generic strategies means in Business A-Level, as defined for AQA.
Definitions of Porter's generic strategies
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Reference: AQA
A model that includes cost leadership, differentiation, cost focus and differentiation focus as routes to competitive advantage.
Michael Porter's (1980) framework identifying three sources of competitive advantage: Cost Leadership (lowest cost producer), Differentiation (unique product commanding a premium), and Focus (either cost or differentiation within a narrow segment).
Topics that use Porter's generic strategies
- Financial management (AQA A-Level)
- Mission, corporate objectives, functional objectives and strategy (AQA A-Level)
Related terms
- Ansoff's Matrix
- balanced scorecard
- budgets and trade offs
- competitive advantage
- conflicting objectives
- Corporate Objective
- corporate objectives
- crowd funding
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