Case Study : Costco Business Level Strategy

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Costco Business Level Strategy “If you do not know where you are going, you will likely end up somewhere else” – Yogi Berra. Every organization, no matter what industry that they are in encounters an environment that is rapidly changing and evolving. Organizations must deal with and address rapidly changing technological capabilities, competition from rivals, and the changing tastes and needs of consumers. In order to effectively respond and adapt to the competitive business environment organizations need to have a clearly defined understanding of where the firm currently is as well as an understanding of where they want to be in the future. An organization’s business strategy provides the backdrop and context for the decisions an organization makes in response to the challenges and opportunities encountered within the business environment. Without a defined strategy an organization is forced to make decisions blindly and will most likely end up in a position where it is very difficult for them to continue to maintain their competitive advantage. Therefore, successful organizations must dedicate the time and resources needed to develop, define and clearly communicate their strategy throughout the organization. According to Dess, Lumpkin, Eisner & McNamara (2014) Porter identified three generic business strategies that can be utilized to combat and overcome the five forces present in the business environment and achieve a competitive advantage. These generic

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