Crafting and Executing Strategy
22nd Edition
ISBN: 9781260157475
Author: Thompson
Publisher: MCG
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Question
Chapter 1, Problem 1LO
Summary Introduction
To explain: A company’s strategy and the reason for it to vary from the competitor’s strategy.
Expert Solution & Answer
Explanation of Solution
A coordinated set of actions that are undertaken by the managers to outperform the competitor’s and achieve a greater profitability is known as the strategy of a company. The strategy of each and every company must have a distinctive element that draws the customers and provides them with a competitive edge.
Strategy mainly states the differences in competing that mainly describes what the rival firms does not possess and what the rival firm possess. This does not states that there must be a 100% variations but there must be a least difference in terms of important aspects.
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