Differences between Generic Strategy and Grand Strategy

Generic Strategy

Grand Strategy

Generic strategy is that type of strategy which helps to create strong competitive position in terms of cost or differentiation. Its objective is to create strong competitive position, attract existing, new and competitor’s customer and finally to increase profitability. Generic strategy are business level strategy. Generic strategy is formulated by the business or corporate manager. There are five generic strategy which are: 1.       Overall low cost leadership strategy 2.       Broad differentiation strategy 3.       Best cost strategy 4.       Focused low cost strategy 5.       Focused differentiation strategy

Grand strategy is that type of strategy which helps to achieve organizational objective. Its objective is to show direction to the business firms to achieve firm’s objective. Grand strategy are corporate level strategy. Grand strategy is formulated by top level manager (chief executive officer). There are fifteen generic strategy which are: 1.       Concentrated growth 2.       Market development 3.       Product development 4.       Innovation 5.       Vertical integration 6.       Horizontal integration 7.       Concentric diversification 8.       Conglomerate diversification 9.       Turnaround 10.   Divestiture 11.   Liquidation 12.   Joint venture 13.   Strategic alliances 14.   Bankruptcy 15.   Consortia

Is this really helpful? Donate NOW!!!