Advanced Glossary

General Policy

encompasses all company principles, which are shared with all stakeholders either in a written format or, sometimes, by word of mouth. Company principles dictate the behavioural guidelines within your company and the external environment. They express the vision, company values, norms and ideals, which make up your company culture.

Generic strategies

are those strategies that the firm can pursue to generate and maintain a competitive advantage. They are neither firm nor industry dependent. The three generic strategies include: cost leadership, differentiation and focus.

 

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