Strategy is an organization's action plan to achieve its mission, whether that is flying airplanes or building them. Firms have several different ways to achieve their mission, and these strategic concepts can provide an advantage over your competitors.
Based on your readings and resource review, you should be able to define the three strategic approaches (differentiation, cost leadership, and response) to competitive advantages. With these approaches in mind, identify a company and determine which approaches they use. While some companies may use a combination of the approaches, focus your paper on the one key approach used by the firm.
Write a 500-word (two-page) paper using the Writing Style Guide formatting.
Include the following:
- Explain, briefly, the three strategic approaches to competitive advantages listed in your textbook.
- Provide an overview of your selected company.
- Discuss which strategic approach your selected company uses and why they use that approach.
Include a title and reference page and at least three references.
Save your assignment using a naming convention that includes your first and last name and the activity number (or description). Do not add punctuation or special characters.
Your paper will automatically be evaluated through Turnitin when you submit your assignment in this activity. Turnitin is a service that checks your work for improper citation or potential plagiarism by comparing it against a database of web pages, student papers, and articles from academic books and publications. "PLG1" in the activity name indicates a Turnitin assignment. Ensure that your work is entirely your own and that you have not plagiarized any material!
Review the Writing Rubric for detailed grading criteria.