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The Three Generic Strategies That Michael Porter Believes a Firm

question 135

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The three generic strategies that Michael Porter believes a firm can use to overcome the five forces and achieve competitive advantage include overall price leadership.


Definitions:

Leadership Style

The characteristic manner and approach of providing direction, implementing plans, and motivating people.

Participative Style

A leadership or management approach that involves input and involvement from group members in decision-making processes.

Micromanagement

A management style characterized by excessive control or attention to details, often to the detriment of overall performance.

Management Openness

A set of leadership behaviors particularly relevant to subordinates’ motivation to voice their opinion.

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