By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer.

Identifying the potential strengths and weaknesses of companies is a crucial responsibility of the CEO. To set up successful management, it is important to understand basic strategy techniques. One of the famous strategies is Porter’s Generic Strategy, which helps analyze current competitive advantages and those that might appear in the future. This technique consists of three main parts called ‘Cost Leadership’, ‘Differentiation’, and ‘Focus’. ‘Cost Leadership’ stands for the economy and efficient use of resources. Moreover, companies that use this strategy provide their customers with cheap products to increase their competitive advantage.

Controversially, ‘Differentiation’ means wise spending controlled by the CEO striving to set premium prices and be more specific in their industry to satisfy customers’ needs. The last part of the Generic Strategy is ‘Focus’, oriented on the exact target audience. CEO who uses this technique usually set prices and introduce new products only after analyzing customers’ preferences. According to Kang and Huh, managers of FedEx corporation use the ‘Differentiation’ strategy to improve their competitive advantage as their main objective is to provide a high-quality delivery across the world.

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Academic.Tips. (2022) 'By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer'. 8 October.

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Academic.Tips. (2022, October 8). By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer. https://academic.tips/question/by-identifying-any-multi-national-company-of-your-choice-making-use-of-open-source-information-identify-the-generic-strategy-that-the-mining-company-is-using-to-gain-competitive-advantage-justify-yo/

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Academic.Tips. 2022. "By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer." October 8, 2022. https://academic.tips/question/by-identifying-any-multi-national-company-of-your-choice-making-use-of-open-source-information-identify-the-generic-strategy-that-the-mining-company-is-using-to-gain-competitive-advantage-justify-yo/.

1. Academic.Tips. "By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer." October 8, 2022. https://academic.tips/question/by-identifying-any-multi-national-company-of-your-choice-making-use-of-open-source-information-identify-the-generic-strategy-that-the-mining-company-is-using-to-gain-competitive-advantage-justify-yo/.


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Academic.Tips. "By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer." October 8, 2022. https://academic.tips/question/by-identifying-any-multi-national-company-of-your-choice-making-use-of-open-source-information-identify-the-generic-strategy-that-the-mining-company-is-using-to-gain-competitive-advantage-justify-yo/.

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"By identifying any multi-national company of your choice making use of open-source information, identify the generic strategy that the mining company is using to gain competitive advantage. Justify your answer." Academic.Tips, 8 Oct. 2022, academic.tips/question/by-identifying-any-multi-national-company-of-your-choice-making-use-of-open-source-information-identify-the-generic-strategy-that-the-mining-company-is-using-to-gain-competitive-advantage-justify-yo/.

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