Chapter 3 Overview of IB and Types of Strategies

Overview of IB and Types of
Strategies
IB: Definition
• IB is business whose activities are carried out across national
borders.
• IB is commercial activities performed to promote the transfer
of technologies, goods, services, resources, people, and ideas
across national boundaries.
• IB consists of transactions that are devised and carried out
across national borders to satisfy the objectives of
individuals, companies, and organizations.
• IB ----- any business activities that cross national boundaries,
whether they be movement of goods, services, capital, or
personnel; transfers of technology, information, or data, or
even the supervision of employees.
• It gives special attention to the multinational enterprises.
Defn…
• Includes international trade, foreign manufacturing, the growing service industry
in areas such as transportation, tourism, advertising, construction, retailing,
wholesaling, and mass communications.
• Occurs in the form of exporting & trade, contractual agreements
giving firms in foreign nations legal permission to use products,
services, and processes from other nations (franchising, licensing,
subcontracting production); to companies setting up sales,
manufacturing, R and D, and distribution facilities in foreign markets.
Defn…
• In its purest definition, international business is described as any business
activity that crosses national boundaries.
• The entities involved in business can be private, governmental, or a
mixture of the two.
• International business can be broken down into four broad types:
1. Foreign trade
2. Trade in services,
3. Portfolio investments, and
4. Direct investments.
Foreign Trade – import and export tangible
goods
• In foreign trade, visible physical goods or commodities move between
countries as exports or imports.
• Exports consist of merchandise that leaves a country.
• Imports are those items brought across national borders into a country.
• Exporting and importing comprise the most fundamental, and usually the
largest, international business activity in most countries.
Trade in Services – trading in intangible
products
• In addition to tangible goods, countries also trade in services, such as
insurance, banking, hotels, consulting, and travel and transportation.
• The international firm is paid for services it renders in another country.
The earnings can be in the form of fees or royalties.
• Fees are generated through the satisfaction of specific performance
requirements and can be earned through long- or short-term
contractual agreements, such as management or consulting contracts.
• Royalties accrue from the use of one company’s process, name,
trademark, or patent by someone else
Trade in Services
One example of a fee situation is the turnkey operation, in which a foreign government or
enterprise hires the expertise appropriate to starting a new concern, plant, or operation.
The turnkey managers come into a foreign environment and get an operation up and running by
designing the plant, setting up equipment, and training personnel to run the business.
The foreign firm can then merely take over the reins of management and continue operating the
facility. Alternatively, a firm can earn royalties from abroad by licensing the use of its
technology, processes, or information to another firm or by selling its franchise in overseas
markets.
Portfolio Investment - equity investment, and
no active participation
Portfolio investments are financial investments made in foreign

countries. The investor purchases debt or equity in the expectation
of nothing more than a financial return on the investment.
Resources such as equipment, time, or personnel are not

contributed to the overseas venture.
Direct investments – you invest everything
needed
• Direct investments are differentiated by much greater levels of control
over the project or enterprise by the investor. The level of control can
vary from full control, when a firm owns a foreign subsidiary entirely,
to partial control, as in arrangements such as joint ventures with
other domestic or foreign firms or a foreign government.
( The methods of conducting international business will be discussed in

more detail subsequent chapters)
Related Concepts
Multi-domestic
Company- a company Global Company- an
with multi-country organization that
Foreign Business- Transnational Company-
affiliates each of which attempts to standardize
operations of a company is a global or multi-
formulates its own & integrate operations
outside its home market domestic company
strategy based on worldwide in most or all
perceived market functional areas
differences
Types of Strategies
• There are several ways of studying many types of

organizational strategies.
• Just stay upbeat to learn all of them. 
STRATEGIC MANAGEMENT 11
Strategy Hierarchy
• Corporate level strategy – an overarching, comprehensive broad strategy unifying the
diversified businesses of a multi divisional organization.
• It focuses on addressing the question what business to compete in?
• It involves a careful analysis of the selection of businesses that the company can
successfully compete in
• It affects the entire organization
Types of corporate level strategies
I) Growth Strategy : concentration; Integration (vertical and horizontal); Diversification;
and International marketing
II) Stability: No change strategies, pause/proceed strategies (to continue its current
activities without major change in direction and
III) Retrenchment strategy - used during adverse economic times – divesture, liquidation,
retrenchment etc)
Business Level Strategy
• Business level strategy – a strategy for a specific business/ product

market . Thus business-level strategy is the core strategy—the
strategy that the firm forms to describe how it intends to compete in
a product market.
• business-level strategy is an integrated and coordinated set of
commitments and actions the firm uses to gain a competitive
advantage by exploiting core competencies in specific product
markets
Functional Level strategy
• Functional Level strategy (HR strategy, Marketing strategy, Finance Strategy etc…)
• Functional strategies include marketing strategies, new product development
strategies, human resource strategies, financial strategies, legal strategies, and
information technology management strategies. The emphasis is on short and
medium term plans and is limited to the domain of each departmental functional
responsibility. Each functional department attempts to do its part in meeting
overall corporate objectives, and hence to some extent their strategies are
derived from broader corporate strategies.
Operational level strategy
• Operational Level strategy - the lowest level of strategy is operational

strategy. It is very narrow in focus and deals with day-to-day
operational activities such as scheduling criteria.
Levels of Strategies –
Large Company
STRATEGIC MANAGEMENT Ch 5 17
Levels of Strategies –
Small Company
Types of Strategies: vertical
and horizontal ( Integration
Strategies) Forward
Integration
Backward
Vertical and Horizontal Integration
Integration
Strategies
Horizontal
Integration
Vertical and horizontal integration : illustration
Sugar cane farmers (f1, f2, f3, …fn)
Sugar factories (C1, C2, C3, …Cn)
Sugar wholesalers (W1, W2, W3,….Wn)
Sugar Retailers (R1, R2, R3, ……Rn)
Consumers 
Vertical Integration Strategies
Forward Gaining ownership or increased

Integration control over distributors or retailers
Backward Seeking ownership or increased

Integration control of a firm’s suppliers
Horizontal Seeking ownership or increased

Integration control over competitors
Types of Strategies- intensive strategies
also known as marketing growth
strategies/Growth Strategies/Ansoff
Strategy Market
Penetration
Market
Intensive Development
Strategies/Growth Strategies
Product
Development
Diversification
Ansoff Matrix ( more on the Ansoff matrix)
To portray alternative corporate growth strategies, Igor

Ansoff presented a matrix that focused on the firm's
present and potential products and markets
(customers). By considering ways to grow via existing
products and new products, and in existing markets and
new markets, there are four possible product-market
combinations. Ansoff's matrix is shown below.
Intensive Strategies
Seeking increased market share for
Market present products or services in
Penetration present markets through greater
marketing efforts
Market Introducing present products or

Development services into new geographic areas
Seeking increased sales by

Product
improving present products or
Development services or developing new ones
Diagrammatical view of the intensive strategies – This is also known
as the Ansoff’s Strategy
Present market New market
(existing)
Present product Market Penetration Market Development

(Existing)
New product Product Development PD/ Second Product

(First product development strategy, it
development strategy) is also sometimes called
Diversification (this can
also be a stand alone
strategy)
Ansoff matrix
Existing Products New Products
Existing
Markets Market Product
Penetration Development
New
Markets Market
Diversification
Development
Ansoff’s Strategy
Ansoff's matrix provides four different growth strategies:
 Market Penetration - the firm seeks to achieve growth with existing products in their current market
segments, aiming to increase its market share.
 Market Development - the firm seeks growth by targeting its existing products to new market segments.
 Product Development - the firms develops new products targeted to its existing market segments.
 Diversification - the firm grows by diversifying into new businesses by developing new products for new
markets.
Selecting a Product-Market Growth Strategy (This goes without saying, so students
are expected to read this and appreciate the ideas)
- The market penetration strategy is the least risky since it leverages many of the firm's existing resources
and capabilities. In a growing market, simply maintaining market share will result in growth, and there may
exist opportunities to increase market share if competitors reach capacity limits. However, market penetration
has limits, and once the market approaches saturation another strategy must be pursued if the firm is to
continue to grow.
- Market development options include the pursuit of additional market segments or geographical regions. The
development of new markets for the product may be a good strategy if the firm's core competencies are related more
to the specific product than to its experience with a specific market segment. Because the firm is expanding into a new
market, a market development strategy typically has more risk than a market penetration strategy
Selecting a Product-Market Growth Strategy (This goes without saying, so students are expected to
read this and appreciate the ideas)
- A product development strategy may be appropriate if the firm's strengths are related to its specific
customers rather than to the specific product itself. In this situation, it can leverage its strengths by
developing a new product targeted to its existing customers. Similar to the case of new market development,
new product development carries more risk than simply attempting to increase market share.
- Diversification is the most risky of the four growth strategies since it requires both product and market
development and may be outside the core competencies of the firm. In fact, this quadrant of the matrix has
been referred to by some as the "suicide cell". However, diversification may be a reasonable choice if the
high risk is compensated by the chance of a high rate of return. Other advantages of diversification include
the potential to gain a foothold in an attractive industry and the reduction of overall business portfolio risk.
Types of Strategies-
Diversification
Related
Diversification
Diversification
Strategies
Unrelated
Diversification
Diversification Strategies
Related
Diversification Adding new but related products or
(Concentric services
diversification)
Unrelated
Diversification
Adding new, unrelated products or
(Conglomerate services
diversification)
Types of Strategies – defensive
Strategies
Retrenchment
Defensive Divestiture
Strategies
Liquidation
Defensive Strategies
Regrouping through cost and asset

reduction to reverse declining sales and
Retrenchment profit. It focuses on economizing, saving
cost, cutting back costs mostly through
layoffs, firing employees etc..
Divestiture Selling a division or part of an

organization
Selling all of a company’s assets, in

Liquidation
parts, for their tangible worth
Generic Strategies - Porter’s Five
Generic Strategies
1. Cost Leadership
2. Differentiation
3. Focused Cost leadership
4. Focused Differentiation, and
5. Integrated Cost
leadership/differentiation
Generic Strategies- also known as
Business level Strategies
Competitive Advantage
Cost Uniqueness
Broad
Scope/broad
mass market Cost Leadership Differentiation

Competitive Integrated Cost leadership/differentiation strategy

Scope

Focused cost leadership Focused
Differentiation
Narrow
Scope/particular
buyer group or
geographic
market or niche
A better picture, may be 
Cost Leadership
• Cost leadership is a lower-cost competitive strategy that aims at the broad mass market and
requires aggressive construction of efficient-scale facilities, vigorous pursuit of cost reductions
from experience, tight cost and overhead control, and cost minimization in areas like R&D, service,
sales force, advertising, and so on.
• Because of its lower costs, the cost leader is able to charge a lower price for its products than its
competitors and still make a satisfactory profit. Although it may not necessarily have the lowest
costs in the industry, it has lower costs than its (immediate) competitors.
• Some companies successfully following this strategy are Wal-Mart (discount retailing), McDonald’s
(fast-food restaurants), Dell (computers), Alamo (rental cars), Aldi (grocery stores), Southwest
Airlines, and Timex (watches).
Differentiation
• Differentiation is aimed at the broad mass market and involves the creation of a product or
service that is perceived throughout its industry as unique.
• The company or business unit may then charge a premium for its product. This specialty can
be associated with design or brand image, technology, features, a dealer network, or
customer service.
• Increased costs can usually be passed on to the buyers.
• Examples of companies that successfully use a differentiation strategy are Walt Disney
Productions (entertainment), BMW(automobiles), Nike (athletic shoes), and Apple
Computer (computers and cell phone).
Cost Focus
• Cost focus is a low-cost competitive strategy that focuses on a particular buyer group or geographic market and
attempts to serve only this niche, to the exclusion of others.
• In using cost focus, the company or business unit seeks a cost advantage in its target segment such as by
eliminating advertising and promotion expenses.
• There are examples on the books I shared with you.
• (Though it has some differentiation feature, IKEA is always considered as a company that operates in line with Cost
Focus Strategy)
Differentiation Focus
• Differentiation focus, like cost focus, concentrates on a particular buyer group, product line segment, or
geographic market.
• This is the strategy successfully followed by Midamar Corporation (distributor of halal foods), Morgan Motor Car
Company (a manufacturer of classic British sports cars), Nickelodeon (a cable channel for children), Orphagenix
(pharmaceuticals), and local ethnic grocery stores (camel meat stores/restaurants for somali migrats in Addis
Ababa).
• Of all, “local ethnic grocery stores” is a conventional, a great differentiation focus example that all of us can
understand 
Integrated Cost leadership/differentiation strategy
• The integrated cost leadership/differentiation strategy involves engaging in primary and support activities that
allow a firm to simultaneously pursue low cost and differentiation.
• The objective of using this strategy is to efficiently produce products with differentiated attributes. Efficient
production is the source of maintaining low costs while differentiation is the source of unique value.
• Firms that successfully use the integrated cost leadership/ differentiation strategy usually adapt quickly to new
technologies and rapid changes in their external environments. Simultaneously concentrating on developing
two sources of competitive advantage (cost and differentiation) increases the number of primary and support
activities in which the firm must become competent.
Example for integrated cl/dif strategy
• Zara follows an integrated cost leadership/differentiation strategy. It offers current
and desirable fashions goods at relatively low prices. To implement this strategy
effectively requires sophisticated designers and effective means of managing costs,
which well fits Zara’s capabilities. Zara can design and begin manufacturing a new
fashion in three weeks, which suggests a highly flexible organization that can adapt
easily to changes in the market or with competitors.
• Flexibility is decisive for companies that apply this strategy.
Important Elaborations on the generic strategies
The effectiveness of each

strategy is contingent both on
None of the five business- the opportunities & threats in It is critical, therefore, for the
level strategies is inherently a firm’s external environment firm to select an appropriate
or universally superior to & on the possibilities strategy in light of its external
others provided by the firm’s unique conditions & competencies
resources & capabilities (core
competencies)
Cost saving actions required by cost leadership strategy
Simplifying production
Tightly controlling
Building efficient scale processes and building Minimising costs of
production costs and
facilities efficient manufacturing sales, R&D and service
overhead
facilities
Monitoring costs of Gaining a unique access

Making optimal Vertical integration
activities provided by to a large source of
outsourcing decisions
outsiders lower cost materials.
Overall, the following three contribute greatly
to achieve cost leadership
• Economies of scale
• Economies of Scope, and
• Accumulated Experience
Economies of scale -
• unit costs are reduced by making large numbers of the same product
Economies of scope
• common parts of the manufacturing activities (or distribution
activities) of various products are combined to gain economies even
though small numbers of each product are made (or distributed).
• This is reducing cost by adding product varieties.
Accumulated knowledge
• leads to reduction in experimentation and increase performance
Ch 5 46
Economies of Scope
- Economies of scope occur through a firm’s ability to spread costs
associated with one element of the value chain across multiple products,
thereby reducing costs.
- Eg. If a particular product is not being produced at a high enough level
to reach economies of scale in distribution, another product could be
used to share the same distribution channel.
For example, Sharp achieves economies of scope through spreading the costs of running their
distribution networks etc across a range of products.
Accumulated Experience
As a person or a firm gains experience in completing a task,
they become more efficient at doing it.
This process can occur through:
- learning or experience
- technical progress
Reading Assignment
Generic Business level strategies vs the Five

Competitive Forces
Cost Leadership Strategy and the Five
Competitive Forces
Potential entrants
• Firm can frighten off potential new entrants due to:

• Their need to enter on a large scale in order to be cost competitive
• The time it takes to move down the learning curve
Chapter 6 Strategic Tools 50

Cost Leadership Strategy and cont’d …
Bargaining power of suppliers & buyers
• Can mitigate suppliers’ power by:

• Being able to absorb cost increases due to low cost position
• Being able to make very large purchases, reducing chance of suppliers using
power
• Can mitigate buyers’ power by:

• Driving prices far below competitors and causing them to exit, thus shifting the
power of the buyers back to the firm

Cost Leadership Strategy and cont’d …
Product substitutes & rivalry among existing competitors

• Cost leader is well positioned to:
• Make investments to be first to create substitutes
• Buy patents developed by potential substitutes
• Lower prices in order to maintain value position
• Due to cost leader’s advantageous position:

• Rivals hesitate to compete on the basis of price
• Lack of price competition leads to greater profits

Competitive Risks of the Cost Leadership
Strategy
Processes used to produce & distribute goods or services may become

obsolete due to competitors’ innovations.
Focus on cost reductions may occur at the expense of customers’

perceptions of differentiation encouraging them to purchase
competitors’ products & services.
Competitors, using their own core competencies, may learn to

successfully imitate the cost leader’s strategy.
Differentiation Strategy
Definition
• A differentiation strategy is an integrated set of actions designed to
produce goods or services that customers perceive as being different
in ways that are important to them.
• The firm produces non-standardized products for customers

who value differentiated features more than they value low
cost.

Differentiation Strategy cont’d …
• Continuous success with the differentiation strategy results when
the firm consistently upgrades differentiated features that
customers value, without significant cost increases.
• The ability to sell goods or services at a price that substantially

exceeds the cost of creating its differentiated features allows the
firm to outperform rivals and earn above-average returns

Examples of Approach for
Differentiation
• Products with unusual features
• Responsive customer service
• Rapid product innovation and technological leadership
• Perceived prestige and status
• Different tastes
• Engineering design and performance
A firm’s value chain can be analyzed to determine whether the firm is able to link the
activities required to create value by using the differentiation strategy
56
Differentiation Strategy and the Five
Competitive Forces
Potential entrants
Can defend against new entrants because:
– Entrants’ new products must surpass proven products
– Entrants’ new products must be at least equal to performance of

proven products, but offered at lower prices

Differentiation Strategy and cont’d …
Bargaining power of suppliers and buyers
• Can mitigate suppliers’ power by:
• Absorbing price increases due to higher margins
• Passing along higher supplier prices because buyers are loyal to differentiated
brand
• Can mitigate buyers’ power by:
• Well differentiated products reduce customer sensitivity to price increases

Differentiation Strategy and cont’d …
Product substitutes and rivalry among existing
competitors
• Well positioned relative to substitutes because:
• Brand loyalty to a differentiated product tends to reduce customers’ testing
of new products or switching brands
• Well positioned relative to competitors because:
• Brand loyalty to a differentiated product tends to offset price competition

Competitive Risks of the
Differentiation Strategy
The price differential between the differentiator’s product and the cost leader’s product
becomes too large
Differentiation ceases to provide value for which customers are willing to pay…out of
fashion scenarios, that is experience narrows customers’ perceptions of the value of a
product’s differentiated features ( are you still so so much fascinated by the touch screen
feature of your smart phone?)
Counterfeit goods replicate differentiated features of the firm’s products at significantly

reduced prices (clone Samsung series, and i-phone series)

Focus Strategy
• Definition
• A focus strategy is an integrated set of actions designed to produce
or deliver goods or services that serve the needs of a particular
competitive segment.
• Firms choose a focus strategy when they want their core
competencies to serve the needs of a particular industry segment or
niche at the exclusion of others.

Focus Strategy cont’d …
• Examples of specific market segments that can be targeted by a
focus strategy:
• Particular buyer group (e.g. youths or senior citizens)
• Different segments of a product line (e.g. professional craftsmen versus
do-it-yourselves)
• Different geographic markets

Focus Strategy cont’d …
• Types of focused strategies:
• Focused cost leadership strategy
• Focused differentiation strategy
• To implement a focus strategy, the firm must be able to complete various
primary and support value chain activities in a competitively superior
manner, in order to develop and sustain a competitive advantage and
earn above-average returns
• Competitor firms may overlook small niches
• The firm lacks resources needed to compete in the broader market, but
serves a narrow segment more effectively than industry-wide
competitors.

Competitive Risks of the Focus Strategies
• The focuser firm may be ‘out focused’ by its competitors
• A firm competing on an industry-wide basis decides to pursue the niche
market of the focuser firm.
• Customer preferences in the niche market may change to more closely
resemble those of the broader market. As a result, the advantages of a
focus strategy are either reduced or eliminated.

Integrated Cost Leadership /Differentiation Strategy
• A firm that successfully uses the integrated cost
leadership/differentiation strategy should be in a better position to:
• Adapt quickly to environmental changes
• Learn new skills and technologies more quickly
• Effectively leverage its core competencies while competing against its rivals
• A commitment to strategic flexibility is necessary for successful use
of this strategy

Competitive Risks of the Integrated Cost Leadership
/Differentiation Strategy
• Often involves compromises
• Becoming neither the lowest cost nor the most differentiated firm
• Becoming ‘stuck in the middle’

• Lacking the strong commitment and expertise that accompanies firms following
either a cost leadership or a differentiated strategy
• Earning below-average returns
• Competing at a disadvantage
• Even so, the integrated strategy is an appropriate choice for firms possessing the core competencies to
produce somewhat differentiated products at relatively low prices

Means for Achieving Strategies
Cooperation among competitors/strategic alliance
Joint venture / partnering
Merger / acquisition
First mover advantages
Outsourcing
A strategic alliance
is a long-term cooperative arrangement between two or more independent firms or
business units that engage in business activities for mutual economic gain
A first mover
is a firm that takes an initial competitive action in order to build or defend its competitive
advantages or to improve its market position.
outsourcing
is the purchase of a value-creating primary or support activity from another firm.
is a transaction involving two or more corporations in which stock is exchanged but in
A merger which only one corporation survives. Mergers usually occur between firms of somewhat
similar size and are usually “friendly.” The resulting firm is likely to have a name derived
from its composite firms.
is the purchase of a company that is completely absorbed as an operating subsidiary or
An acquisition division of the acquiring corporation. Procter & Gamble’s (P&G’s) purchase of Gillette is
an example of a recent acquisition. Acquisitions usually occur between firms of different
sizes and can be either friendly or hostile. Hostile acquisitions are often called takeovers.
International Strategy
• A strategy through which the firm sells its goods or services outside its
domestic market
• Benefits of international strategy
- increased market size – market seeking
- - economies of scale and learning – efficiency seeking
- attractive return on investment – profit seeking
- Resource seeking – e.g cheap labor
- – strategic asset seeking – e.g. advantages of location
International corporate level strategies
Global Transnational
strategy strategy
High
Need for global
integration
Multi-domestic
strategy
Low
Need for local responsiveness
LOW HIGH
Choice for international entry mode
• Exporting
• Licensing – purchase of the right to manufacture or sell products in a
host country or set of countries
• Strategic alliance/joint venture
• Acquisition
• New wholly owned subsidiary (FDI)
Cooperation Strategy
• Strategy to work together (e.g due to difference in expertise, resources, capabilities
etc…)
• Types
a) Strategic Alliance: Joint venture, Equity alliance, and Non equity alliance
b) Collusive strategy - by forming coalition: Explicit Collusive strategy and
Tacit/Implicit Collusive strategy
- Explicit Collusive strategy – negotiate and set price above the fully competitive
price
- Implicit/tacit collusive strategy – no direct negotiation, but indirectly by
following and imitating other moves
73

Chapter 3 Overview of IB and Types of Strategies

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Chapter 3 Overview of IB and Types of Strategies

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Overview of IB and Types of

Portfolio investments are ﬁnancial investments made in foreign

Resources such as equipment, time, or personnel are not

( The methods of conducting international business will be discussed in

• There are several ways of studying many types of

• Just stay upbeat to learn all of them. 

• Business level strategy – a strategy for a specific business/ product

• Operational Level strategy - the lowest level of strategy is operational

Sugar cane farmers (f1, f2, f3, …fn)

Sugar factories (C1, C2, C3, …Cn)

Sugar wholesalers (W1, W2, W3,….Wn)

Sugar Retailers (R1, R2, R3, ……Rn)

Forward Gaining ownership or increased

Backward Seeking ownership or increased

Horizontal Seeking ownership or increased

To portray alternative corporate growth strategies, Igor

Market Introducing present products or

Seeking increased sales by

Present product Market Penetration Market Development

New product Product Development PD/ Second Product

Regrouping through cost and asset

Divestiture Selling a division or part of an

Selling all of a company’s assets, in

The effectiveness of each

Monitoring costs of Gaining a unique access

Generic Business level strategies vs the Five

• Firm can frighten off potential new entrants due to:

Chapter 6 Strategic Tools 50

Bargaining power of suppliers & buyers

• Can mitigate suppliers’ power by:

• Can mitigate buyers’ power by:

Chapter 6 Strategic Tools 51

Product substitutes & rivalry among existing competitors

• Due to cost leader’s advantageous position:

Chapter 6 Strategic Tools 52

Processes used to produce & distribute goods or services may become

Focus on cost reductions may occur at the expense of customers’

Competitors, using their own core competencies, may learn to

• The firm produces non-standardized products for customers

Chapter 6 Strategic Tools 54

• The ability to sell goods or services at a price that substantially

Chapter 6 Strategic Tools 55

– Entrants’ new products must be at least equal to performance of

Chapter 6 Strategic Tools 57

Chapter 6 Strategic Tools 58

Chapter 6 Strategic Tools 59

Counterfeit goods replicate differentiated features of the firm’s products at significantly

Chapter 6 Strategic Tools 60

Chapter 6 Strategic Tools 61

Chapter 6 Strategic Tools 62

Chapter 6 Strategic Tools 63

Chapter 6 Strategic Tools 64

Chapter 6 Strategic Tools 65

• Becoming ‘stuck in the middle’

Chapter 6 Strategic Tools 66

Joint venture / partnering

First mover advantages

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