ABSTRACT
In considering business strategy, one view put forward is that the central question to be answered is
‘How should a firm compete in a given business?’ That is, how should it position itself among its rivals in order to reach its goals? Alternatively, how can it allocate its resources to achieve a competitive advantage over its rivals? Clearly, many alternatives are available, and while it is possible to suggest business strategies that work under certain conditions, current research has identified few universals that apply to all circumstances (Schendel and Hofer, 1979).
