ABSTRACT
This chapter focuses on competitive strategy and how a company can achieve and sustain a competitive advantage. It examines Michael Porter, one of the most influential thinkers in the field of strategic management, calls the Generic Strategies. A company can pursue a low-cost or a differentiated niche strategy, a combination of the Generic Strategies. A very interesting niche strategy is one offered by providers of what is called 'fractional ownership'. Strategists Raymond Miles and Charles Snow chose a different route in their attempt to categorize competitive strategies. An organization that follows the defender orientation tends to have a narrow product market. A firm that follows the prospector typology is continually in search of new markets. An analyzer firm is somewhat of a cross between a defender and prospector. A reactor firm does just what it says - it reacts. It is passive in dealing with most issues.
