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...Learning objectives after reading this chapter you should be able to understand what distinguishes each of the five generic strategies and explain why some these work better in certain kinds competitive conditions than others recognize major avenues for achieving a advantage based on lower costs identify differentiating company s product or service offering from offerings rivals attributes best cost strategy hybrid low differentiation mcgraw hill overview describes options how well is present working are strengths weaknesses relation market opportunities external threats most important resources capabilities will they give lasting over rival companies do value chain activities impact its structure customer proposition competitively stronger weaker key strategic issues problems merit front burner managerial attention differ firm deals exclusively with specifics efforts position itself place please customers ward off achieve particular kind factors that distinguish one another being targ...