Friday, August 17, 2012

What is Generic Strategy?

Generic Strategy
Reviewed by Hammad Naziron Apr 01 2013
Rating: 5
Generic Strategy:

Introduction of Generic strategy:

Generic Strategy means core strategy. many planning experts believe that the general philosophy of doing business declared by the firm in the mission statement must be translated into a holistic statement of the firms strategic orientation before it can be further defined in terms of a specific long term strategy.

In other words a long term grand strategy must be based on a core idea about how the firm can best compete in the market place the popular term for this core idea is generic strategy.


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