Posted: April 4th, 2023

Preface: Competitive strategy is a long-term action proposal that firms can adop

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Preface:
Competitive strategy is a long-term action proposal that firms can adopt to gain a competitive advantage over rivals in a particular industry. Although U.S. based businesses previously held competitive strengths in higher education and entrepreneurship, they have been increasingly threatened by weaknesses in k-12 education, macroeconomic policies, and strict fiscal policies to name a few. That is why it is important for today’s organizations to take the necessary steps to reverse the trend so they can refocus their efforts as strategic business leaders. Wal-Mart for example, has been a dominant player in the retail industry by rigorously pursuing its Competitive Strategy of cost leadership from the day it began operations in 1962, and look at how it has grown.
Guidelines:
Conduct research from the course textbook, LIRN library database, along with other reputable online sources (.gov, .edu, .org). Then, describe the following what is a competitive strategy and why an organization needs to select one when conducting business in the global marketplace.
While conducting your research, focus on these main points:
Who is considered the leading authority on competitive strategy?
What initiative triggered businesses identified above look toward global competitiveness?
Which of the five generic competitive strategies may better suit the goods sold?
Which of the five generic competitive strategies may be better suited for the services offered?
Expectations:
1-2 pages in length with sufficient research information on each.
Use at least four scholarly references and the textbook to substantiate your premises. The book is called Crafting & Executing Strategy: Concepts & Cases Arthur Thompson 23e
Follow proper APA format, including title and reference pages.
Use 3rd person with proper grammar, punctuation, and spelling.
Provide an analysis for each question based on your research

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