How can each one of the business-level strategies be used to position the firm r

Question

How can each one of the business-level strategies be used to position the firm relative to the five forces of competition in a way that helps the firm earn above-average returns? Discuss the specific risks associated with using each business-level strategy. How can each one of the business-level strategies be used to position the firm relative to the five forces of competition in a way that helps the firm earn above-average returns? Discuss the specific risks associated with using each business-level strategy.

Explanation / Answer

Solution: - Business-Level Strategy is the integrated and coordinated set of commitments and actions taken by the firm to get advantages in the specific product market.

There are number of firms which produce the same items. To take the lead in the market the firms prepare their strategies. As we know that customer is the main part of any business. What should we do to attract the more customers than other firms? This type of planning is called the strategies of business. There are five 5 steps to win the competition races of the market.

Specific risks associated with using each business-level strategy: -

Demand and supply: - If the demand of goods is higher and supply is lower, the customers try to find the alternate of the items.

Break even analysis: - If items produced by the firms are less than the break even analysis then the firm will not survive. If production is very high then to store the items more place is required which increase the cost of the items.

Keep the track on the market to differentiate your competitors. It is also possible that somebody is using your monogram to sell his own product.

You must have sufficient alternate to provide the items at correct time. For example, Due to heavy rains the supply of eatable items is affected. If the eatable items (milk, vegetables etc) are stored for two days it can become useless for the customers.

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