Literature Review on What Is Strategy

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Introduction:

Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such, which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable, competitive, innovative and change. Further, the shift of organization from being local onto global and so the factors of cross-cultural, internationalization cross-disciplinary knowledge of geo-economy, politics, business, market, volatile competition, wide range of customer, and other globalization factors brings further complexity and encounters, hence
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This reflection of decision in the particular products, and the impact on the market place.
An example of an apple company strategy-An apple organization “Steve job” vision of the strategic is that, making product differentiation, innovation and strategic position, and how to change the industry.

According to the competitive Advantage written by Michael Porter in 1985 ‘Creating and sustaining superior performance is Generic strategies’. Generic strategies represent the varieties in strategic positions of a company. The concept of generic strategy is divided in three parts Product differentiation, cost Leadership and Focus. According to Porters company can have a focused or broad approach on product differentiation or cost leadership, in the given article Ikea and south west airlines are an example in this Ikea is based on the needs of customer group and south west airlines is based on offering a particular service variety in cost leadership, where as Neutrogena is based on product differentiation because, it is focused on sales its product distribution in drugstores and avoid price promotion. Where as Hambrick (1983a, p. 702) argue that "It is simply not accurate to say that all generic strategies are equally possible within an industry . . . any broadly 'generic ' strategy is really a composite of numerous variations, not all of which are equally suited to a given situation".
As author Michael E Porter (1996) in this article argues that;
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