Sample Companies That Exercise Business Strategies

Sample Companies That Exercise Business Strategies
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2. Compare four well known company worldwide that use a cost-leadership, differentiation, focused cost leadership, and focused differentiation strategies. Consider in each case how each company holds its competitive position in its industry in relation to its main competitors.
for example: you can use Ikea as an example for cost leadership strategy
Cost leadership allows companies to provide cheap services in their respective industries. This strategy allows companies to operate cost-efficiently while giving a quality that is enjoyed by the minority. Take for example McDonald's; it has very wide patronage all over the world. It is also affordable. It is because of this fast-food chain trains and hires workers with lower qualifications than experienced cooks. However, despite hiring “under-qualified” employees, they make sure to train these workers as effective as the fast-food chain needs them to be. Anyway, McDonald’s is successful in that part for having large patronage all over the world.
Differentiation, on the other hand, keeps a competitor different in a particular sense. Lush, a beauty product company, makes itself different from big competitors like Sephora and Etsy by being self-made or hand-made. This is an advocacy of Lush to create a more organic product. This makes Lush different in a way that their product is close to being environmentally-friendly. It means that they can get attention from organic-lover customers.
Another strategies companies use are focused on cost leadership and focused differentiation. The former is "focused" on the price or service of the product depending on the compe...