Essay on The Importance Of Selecting A Business Level Strategy

712 Words Nov 29th, 2015 3 Pages
The Importance of Selecting a Business Level Strategy A business level strategy is defined as “an organization’s approach to competing in its chosen markets” (Enz, 2009, p. 167). This type of classification system is widely recognized and allows an organization to quickly label their chosen business level strategy without the necessity to explain in detail their full intent if and when their business level strategy type is altered (Enz, 2009, p. 167). In fact, no business level strategy will be identical from organization to organization, since each business can tailor its strategy to apply specifically to its unique requirements (Enz, 2009, p. 167). In addition, a business level strategy is occasionally made reference to as a competitive strategy, which involves several generic business strategy types (Enz, 2009, p. 167). One type of business level strategy is low-cost leadership, which requires a business to make an effort to furnish a product or a service at the smallest cost to the consumer (Enz, 2009, p. 170). The benefit to an organization of this type of strategy is that it provides the lowest cost of production or service delivery to the consumer (Enz, 2009, p. 170). A second business level strategy is differentiation, which obligates a business to supply a product or a service that is “preferred” above the competition’s products or services (Enz, 2009, p. 170). The benefit of this type of business level strategy is that it provides a product or a service…

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