Surname Modern Management (BAM562) California Coast University 29th March 2018 Differentiating Michael Porter’s Three Generic Strategies Michael Porter’s three generic strategies describe the manner in which an organization can achieve competitive advantage within the market (Bertozzi Ali and Ali Gul 10). The concept was first described in 1980 by Michael Porter (Majumdar 37). According to Porter the profitability of any business is dependent on its relative position within the market and industry it operates in (Bertozzi et al. 10). The Porter’s three generic strategies are the cost leadership strategy the differentiation strategy and the focus strategy (Bertozzi et al. 10). It is worth noting that these that particular market. This is usually done at a low cost. Because the needs of the niche market tend to be served extremely well customers often tend to develop brand loyalty. The result is that it becomes extremely difficult for competitors to attract the niche market served by an organization that uses the focus strategy (Bertozzi et al. 13). Works Cited Bertozzi Federica Chauhdry Mehr Ali and Fahad Ali Gul. "Porter’s Five Generic Strategies; A Case Study from the Hospitality Industry." International Journal For Research In Mechanical & Civil Engineering 3.2 (2017): 09-23. Majumdar Sankar. "Michael Porter's Generic Strategy of Cost Leadership-Pertinent Issues." The Management Accountant Journal 50.2 (2015): 37-42. [...]
The class is Modern Management (BAM562) California Coast University. Answer 4 questions separately, each answer at least 500 words. Text book: Modern Management: Concepts and Skills 14th Edition, 2016 ISBN-13: 978-0-13-385981-2 Unit 1, Question 3. What does it really mean to say “sustainability is the future of business?” Defend and support your answer. Unit 2, Question 3. Briefly differentiate Michael Porter’s three generic strategies. Unit 3, Question 1. According to Fiedler’s contingency theory of leadership, what are the primary factors that should be considered when moving leaders into situations appropriate for their leadership styles? Briefly describe the factors. Unit 4, Question 3. Discuss the five stages of team development.