Problem
Read the article document "What Is Strategy Porter" by Michael E. Porter and Jingbohu and watch the YouTube video "Generic Strategies Porter explained". Based on the attached document and video, answer the following questions:
a) Provide an example of a firm in each of the 4 generic strategy categories; how does their strategy relate to their customers?
b) It is said that both IKEA and McDonald's successfully use the integrated cost leadership-differentiation model. In what ways do either or both accomplish it?
c) What are the major differences in value creating activities between cost leaders and differentiators?
d) Some firms have been criticized in social media for not making products that suit everyone's needs. Does a company with a focused (narrow market) strategy have a responsibility to the public to expand their offerings?
e) Why have companies such as Radio Shack, J.C. Penney, Sears, and RIM (Blackberry) failed?