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BusMan U4AOS1 - Coggle Diagram
BusMan U4AOS1
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Porter's Generic Theory
Competitive advantage
a condition or circumstance that puts a company in a favourable or superior business position, leads to more sales, higher market share and greater profits
Lower cost
involves seeking to be the business that is able to supply/produce a product or service at the lowest cost in the entire industry
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Differentiation
setting your product/service apart from similar businesses in the industry by having a uniqueness that entices the customer to feel they must have your product/service
Business Change
Change is the process of taking the existing organisation, altering it, then establishing a new or altered form
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