{"id":170,"date":"2014-05-13T17:44:51","date_gmt":"2014-05-13T17:44:51","guid":{"rendered":"http:\/\/opentextbc.ca\/strategicmanagement\/?post_type=chapter&#038;p=170"},"modified":"2019-07-02T22:52:15","modified_gmt":"2019-07-02T22:52:15","slug":"conclusion-5","status":"publish","type":"chapter","link":"https:\/\/opentextbc.ca\/strategicmanagement\/chapter\/conclusion-5\/","title":{"raw":"Conclusion","rendered":"Conclusion"},"content":{"raw":"This chapter explained generic business-level strategies that executives must choose between to keep their firms competitive. Executives must identify their firm\u2019s source of competitive advantage by choosing to compete based on low-cost versus (often) more expensive features that differentiate their firm from competitors. In addition, targeting either a narrow or broad market helps firms further understand their customer base. Based on these choices, firms will follow cost leadership, differentiation, focused cost leadership, or focused differentiation strategies. Another potentially viable business strategy, best cost, exists when firms offer relatively low prices while still managing to differentiate their goods or services on some important value-added aspects.\r\n\r\nOne predictor of long(er)-term business success is the firm's ability to stick to strategy. \u00a0Low cost firms that venture into additional features or services often find that they have to increase prices to pay for these additional features, decreasing their ability for cost leadership. \u00a0Similarly, firms that differentiate need to invest sufficiently in R&amp;D to ensure the element of differentiation remains both current and desirable.\u00a0Whatever their strategy, all firms can fall victim to being \u201cstuck in the middle\u201d by not offering sufficiently unique features or competitive prices.\r\n<div class=\"textbox textbox--exercises\"><header class=\"textbox__header\">\r\n<p class=\"textbox__title\">Exercises<\/p>\r\n\r\n<\/header>\r\n<div class=\"textbox__content\">\r\n<ol>\r\n \t<li>Divide your class into four or eight groups, depending on the size of the class. Each group should select a different industry. Find examples of each generic business-level strategy for your industry. Discuss which strategy seems to be the most successful in your selected industry.<\/li>\r\n \t<li>This chapter discussed Target and other retailers. If you were assigned to turn around a struggling retailer such as Kmart, what actions would you take to revive the company?<\/li>\r\n<\/ol>\r\n<\/div>\r\n<\/div>\r\n<h1>Attributions<\/h1>\r\n<strong><a id=\"figure5-2\" href=\"\/strategicmanagement\/chapter\/understanding-business-level-strategy-through-generic-strategies#f5.2\">Figure 5.2:<\/a>\r\n<\/strong><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Remodeld_walmart.jpg\">Remodeled Walmart<\/a> by GeneralCheese (http:\/\/en.wikipedia.org\/wiki\/File:Remodeld_walmart.jpg) is in the Public Domain (first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Holt_Renfrew_Opening_1.jpg\">Holt Renfrew Opening 1<\/a> by anjuliruth (http:\/\/commons.wikimedia.org\/wiki\/File:Holt_Renfrew_Opening_1.jpg) used under <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/cosmickitty\/35922747\/\">Fun at the 1$ store!<\/a> by Cosmic Kitty (https:\/\/www.flickr.com\/photos\/cosmickitty\/35922747\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:MAC_in_SM_Aura,_BGC.jpg\">MAC in SM Aura, BGC<\/a> by Hans Olav Lien (http:\/\/commons.wikimedia.org\/wiki\/File:MAC_in_SM_Aura,_BGC.jpg) used under <a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0(fourth)\r\n\r\n<strong><a id=\"figure5-3\" href=\"\/strategicmanagement\/chapter\/cost-leadership#f5.3\">Figure 5.3:<\/a>\r\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/dahlstroms\/4406947248\/\">IKEA of Sweden<\/a> by H\u00e5kan Dahlstr\u00f6m (https:\/\/www.flickr.com\/photos\/dahlstroms\/4406947248\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Darkoakadelaidesside.jpg\">Darkoakadelaidesside<\/a> by ASuitableWardrobe (http:\/\/commons.wikimedia.org\/wiki\/File:Darkoakadelaidesside.jpg) used under <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);\r\n\r\n<a href=\"https:\/\/pxhere.com\/en\/photo\/580317\">Hairdressing<\/a> by unknown (https:\/\/pxhere.com\/en\/photo\/580317)used under\u00a0<a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> (third);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/waferboard\/3806352731\/\">Oh thank heaven<\/a> by waferboard (https:\/\/www.flickr.com\/photos\/waferboard\/3806352731\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(fourth)\r\n\r\n<a href=\"\/strategicmanagement\/chapter\/cost-leadership#f5.5\"><strong>Figure 5.5:\r\n<\/strong><\/a><a href=\"https:\/\/www.flickr.com\/photos\/38314728@N08\/4116215148\/\">Camping in Exmouth, Western Australia<\/a> by Joanna Penn (https:\/\/www.flickr.com\/photos\/38314728@N08\/4116215148\/) used under\u00a0\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:TV_and_Computer_Monitor_Recycling_Pen_-_geograph.org.uk_-_1025508.jpg\">TV and Computer Monitor Recycling Pen \u2013 geograph.org.uk \u2013 1025508<\/a> by David Wright (http:\/\/commons.wikimedia.org\/wiki\/File:TV_and_Computer_Monitor_Recycling_Pen_-_geograph.org.uk_-_1025508.jpg) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(second)\r\n\r\n<strong><a id=\"figure5-7\" href=\"http:\/\/opentextbc.ca\/strategicmanagement\/chapter\/differentiation#f5.7\">Figure 5.7:<\/a>\r\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/_nickd\/2313836162\/\">typographic tour of chicago part 2: morton salt factory (3\/3)<\/a> by _nickd (http:\/\/www.flickr.com\/photos\/_nickd\/2313836162\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Fedex.a310-200.n420fe.arp.jpg\">Fedex.a310-200.n420fe.arp<\/a> by Arpingstone (http:\/\/en.wikipedia.org\/wiki\/File:Fedex.a310-200.n420fe.arp.jpg) is in the Public Domain (second);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/megavas\/3302486505\/\">chevelle SS \u201969 hot wheels<\/a> by Guillermo Vasquez (http:\/\/www.flickr.com\/photos\/megavas\/3302486505\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);\r\n\r\n<a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Zoom_elite_2.png\">Zoom elite 2<\/a> by ChunkySoup (http:\/\/en.wikipedia.org\/wiki\/File:Zoom_elite_2.png) is in the Public Domain (fourth);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/loimere\/5068068920\/\">Day 4 \u2013 Magic Kingdom<\/a> by Derek Hatfield (http:\/\/www.flickr.com\/photos\/loimere\/5068068920\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fifth)\r\n\r\n<strong><a id=\"figure5-10\" href=\"\/strategicmanagement\/chapter\/differentiation#f5.10\">Figure 5.10:<\/a>\r\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/slgc\/5379074286\/\">Coach Bag<\/a> by slgckgc (http:\/\/www.flickr.com\/photos\/slgc\/5379074286\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Handbag_BrownBlue_FW2010.JPG\">Handbag BrownBlue FW2010<\/a> by Parfois (http:\/\/commons.wikimedia.org\/wiki\/File:Handbag_BrownBlue_FW2010.JPG) is in the Public Domain (second);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/classicchanelhandbags\/4988644763\/\">elisha_cuthbert_chanel-purple-handbag<\/a> by Ashley Cooper (http:\/\/www.flickr.com\/photos\/classicchanelhandbags\/4988644763\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/evelynishere\/5300824118\/\">fake purse<\/a> by EvelynGiggles (http:\/\/www.flickr.com\/photos\/evelynishere\/5300824118\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fourth)\r\n\r\n<a href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.12\"><strong>Figure 5.12:\r\n<\/strong><\/a><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Redbox1.JPG\">Redbox1<\/a> by IlliniGradResearch (http:\/\/commons.wikimedia.org\/wiki\/File:Redbox1.JPG) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Pepperoni_pizza_fast_food.jpg\">Pepperoni pizza fast food<\/a> by Jon Sullivan (http:\/\/commons.wikimedia.org\/wiki\/File:Pepperoni_pizza_fast_food.jpg) is in the Public Domain (second);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Claires.jpg\">Claires<\/a> by TenPoundHammer (http:\/\/commons.wikimedia.org\/wiki\/File:Claires.jpg) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Big_Buford.jpg\">Big Buford<\/a> by Gaming4JC (http:\/\/commons.wikimedia.org\/wiki\/File:Big_Buford.jpg) is in the Public Domain (fourth)\r\n\r\n<a href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.14\"><strong>Figure 5.14:\r\n<\/strong><\/a><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Whole_Foods_Market_Cranbrook_Village_Ann_Arbor_Michigan.JPG\">Whole Foods Market Cranbrook Village Ann Arbor Michigan<\/a> by Dwight Burdette (http:\/\/commons.wikimedia.org\/wiki\/File:Whole_Foods_Market_Cranbrook_Village_Ann_Arbor_Michigan.JPG) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Build-A-BearWorkshopVaughanMills.JPG\">Build-A-BearWorkshopVaughanMills<\/a> by Raysonho (http:\/\/commons.wikimedia.org\/wiki\/File:Build-A-BearWorkshopVaughanMills.JPG) used under\u00a0<a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> \u00a0\u00a0(second);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/zimpenfish\/385384830\/\">Cinnabon<\/a> by rjp (http:\/\/www.flickr.com\/photos\/zimpenfish\/385384830\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Mercedes-Benz_SLR_McLaren_2_cropped.jpg\">Mercedes-Benz SLR McLaren 2 cropped<\/a> by Cars en travel (http:\/\/commons.wikimedia.org\/wiki\/File:Mercedes-Benz_SLR_McLaren_2_cropped.jpg) is in the Public Domain (fourth)\r\n\r\n<strong><a id=\"figure5-16\" href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.16\">Figure 5.16:<\/a>\r\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/milele\/6463957255\/\">Stocking caps<\/a> by Lisa Dusseault (https:\/\/www.flickr.com\/photos\/milele\/6463957255\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Richardsson_Daniel_Tour_de_Ski_2010.jpg\">Richardsson Daniel Tour de Ski 2010<\/a> by Iso76 (http:\/\/commons.wikimedia.org\/wiki\/File:Richardsson_Daniel_Tour_de_Ski_2010.jpg) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(second);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:En-Mauser_98k_based_hunting_rifle.jpg\">En-Mauser 98k based hunting rifle<\/a> by Francis Flinch (http:\/\/commons.wikimedia.org\/wiki\/File:En-Mauser_98k_based_hunting_rifle.jpg) is in the Public Domain (third)\r\n\r\n<strong><a id=\"figure5-19\" href=\"\/strategicmanagement\/chapter\/best-cost-strategy#f5.19\">Figure 5.19:<\/a>\r\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/aseemsjohri\/14513060711\/\">WestJet Boeing 737-8CT | C-GWSZ \/ 812 | \u201cWalt Disney Livery\u201d | Flight WS2660 from YYZ to MBJ<\/a> by Lord of the Wings\u00a9 (https:\/\/www.flickr.com\/photos\/aseemsjohri\/14513060711\/) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Two_Americano_soft_tacos_(8009893681).jpg\">Two Americano soft tacos (8009893681)<\/a> by Jim G (http:\/\/commons.wikimedia.org\/wiki\/File:Two_Americano_soft_tacos_(8009893681).jpg) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/pagedooley\/5313218644\/\">Target<\/a> by Kevin Dooley (https:\/\/www.flickr.com\/photos\/pagedooley\/5313218644\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);\r\n\r\n<a href=\"http:\/\/www.flickr.com\/photos\/ckroberts61\/4399109703\/\">Pabst Blue Ribbon Neon Sign<\/a> by Charles Roberts (http:\/\/www.flickr.com\/photos\/ckroberts61\/4399109703\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fourth)\r\n\r\n<strong><a id=\"figure5-21\" href=\"\/strategicmanagement\/chapter\/best-cost-strategy#f5.21\">Figure 5.21:<\/a>\r\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/avlxyz\/2570349350\/\">Sushi Sashimi Medium Platter - Yama-ya<\/a> by Alpha (https:\/\/www.flickr.com\/photos\/avlxyz\/2570349350\/) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(first);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/roland\/5003057345\/\">vijs-at-home-cookbook-launch-20100918-IMG_6335.jpg<\/a> by Roland Tanglao (https:\/\/www.flickr.com\/photos\/roland\/5003057345\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/roland\/5688155762\/\">arturo's mexico to go - 050420116656<\/a> by Roland Tanglao (https:\/\/www.flickr.com\/photos\/roland\/5688155762\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);\r\n\r\n<a href=\"https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/\">Poutine<\/a> by shankar s. (<a href=\"https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/\">https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/<\/a>) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first)\r\n\r\n<strong><a id=\"figure5-23\" href=\"\/strategicmanagement\/chapter\/stuck-in-the-middle#f5.23\">Figure 5.23:<\/a>\r\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/eprater\/4592959910\/\">Arby\u2019s Roast Beef Sign<\/a> by Ethan Prater (http:\/\/www.flickr.com\/photos\/eprater\/4592959910\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(first);\r\n\r\n<a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:TheSourcePromenade.JPG\">TheSourcePromenade<\/a> by Raysonho (http:\/\/commons.wikimedia.org\/wiki\/File:TheSourcePromenade.JPG) used under <a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> \u00a0(second);\r\n\r\n<a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Sears_-_Aids_That_Every_Woman_Appreciates.jpg\">Sears \u2013 Aids That Every Woman Appreciates<\/a> by Rachel P. Maines (http:\/\/en.wikipedia.org\/wiki\/File:Sears_-_Aids_That_Every_Woman_Appreciates.jpg) is in the Public Domain (third);\r\n\r\n<a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Big_Kmart,_Ontario,_Oregon_2006.jpeg\">Big Kmart, Ontario, Oregon 2006<\/a> by Caldorwards4 (http:\/\/en.wikipedia.org\/wiki\/File:Big_Kmart,_Ontario,_Oregon_2006.jpeg) is in the Public Domain (fourth)","rendered":"<p>This chapter explained generic business-level strategies that executives must choose between to keep their firms competitive. Executives must identify their firm\u2019s source of competitive advantage by choosing to compete based on low-cost versus (often) more expensive features that differentiate their firm from competitors. In addition, targeting either a narrow or broad market helps firms further understand their customer base. Based on these choices, firms will follow cost leadership, differentiation, focused cost leadership, or focused differentiation strategies. Another potentially viable business strategy, best cost, exists when firms offer relatively low prices while still managing to differentiate their goods or services on some important value-added aspects.<\/p>\n<p>One predictor of long(er)-term business success is the firm&#8217;s ability to stick to strategy. \u00a0Low cost firms that venture into additional features or services often find that they have to increase prices to pay for these additional features, decreasing their ability for cost leadership. \u00a0Similarly, firms that differentiate need to invest sufficiently in R&amp;D to ensure the element of differentiation remains both current and desirable.\u00a0Whatever their strategy, all firms can fall victim to being \u201cstuck in the middle\u201d by not offering sufficiently unique features or competitive prices.<\/p>\n<div class=\"textbox textbox--exercises\">\n<header class=\"textbox__header\">\n<p class=\"textbox__title\">Exercises<\/p>\n<\/header>\n<div class=\"textbox__content\">\n<ol>\n<li>Divide your class into four or eight groups, depending on the size of the class. Each group should select a different industry. Find examples of each generic business-level strategy for your industry. Discuss which strategy seems to be the most successful in your selected industry.<\/li>\n<li>This chapter discussed Target and other retailers. If you were assigned to turn around a struggling retailer such as Kmart, what actions would you take to revive the company?<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<h1>Attributions<\/h1>\n<p><strong><a id=\"figure5-2\" href=\"\/strategicmanagement\/chapter\/understanding-business-level-strategy-through-generic-strategies#f5.2\">Figure 5.2:<\/a><br \/>\n<\/strong><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Remodeld_walmart.jpg\">Remodeled Walmart<\/a> by GeneralCheese (http:\/\/en.wikipedia.org\/wiki\/File:Remodeld_walmart.jpg) is in the Public Domain (first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Holt_Renfrew_Opening_1.jpg\">Holt Renfrew Opening 1<\/a> by anjuliruth (http:\/\/commons.wikimedia.org\/wiki\/File:Holt_Renfrew_Opening_1.jpg) used under <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/cosmickitty\/35922747\/\">Fun at the 1$ store!<\/a> by Cosmic Kitty (https:\/\/www.flickr.com\/photos\/cosmickitty\/35922747\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:MAC_in_SM_Aura,_BGC.jpg\">MAC in SM Aura, BGC<\/a> by Hans Olav Lien (http:\/\/commons.wikimedia.org\/wiki\/File:MAC_in_SM_Aura,_BGC.jpg) used under <a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0(fourth)<\/p>\n<p><strong><a id=\"figure5-3\" href=\"\/strategicmanagement\/chapter\/cost-leadership#f5.3\">Figure 5.3:<\/a><br \/>\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/dahlstroms\/4406947248\/\">IKEA of Sweden<\/a> by H\u00e5kan Dahlstr\u00f6m (https:\/\/www.flickr.com\/photos\/dahlstroms\/4406947248\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Darkoakadelaidesside.jpg\">Darkoakadelaidesside<\/a> by ASuitableWardrobe (http:\/\/commons.wikimedia.org\/wiki\/File:Darkoakadelaidesside.jpg) used under <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);<\/p>\n<p><a href=\"https:\/\/pxhere.com\/en\/photo\/580317\">Hairdressing<\/a> by unknown (https:\/\/pxhere.com\/en\/photo\/580317)used under\u00a0<a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> (third);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/waferboard\/3806352731\/\">Oh thank heaven<\/a> by waferboard (https:\/\/www.flickr.com\/photos\/waferboard\/3806352731\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(fourth)<\/p>\n<p><a href=\"\/strategicmanagement\/chapter\/cost-leadership#f5.5\"><strong>Figure 5.5:<br \/>\n<\/strong><\/a><a href=\"https:\/\/www.flickr.com\/photos\/38314728@N08\/4116215148\/\">Camping in Exmouth, Western Australia<\/a> by Joanna Penn (https:\/\/www.flickr.com\/photos\/38314728@N08\/4116215148\/) used under\u00a0\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:TV_and_Computer_Monitor_Recycling_Pen_-_geograph.org.uk_-_1025508.jpg\">TV and Computer Monitor Recycling Pen \u2013 geograph.org.uk \u2013 1025508<\/a> by David Wright (http:\/\/commons.wikimedia.org\/wiki\/File:TV_and_Computer_Monitor_Recycling_Pen_-_geograph.org.uk_-_1025508.jpg) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(second)<\/p>\n<p><strong><a id=\"figure5-7\" href=\"http:\/\/opentextbc.ca\/strategicmanagement\/chapter\/differentiation#f5.7\">Figure 5.7:<\/a><br \/>\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/_nickd\/2313836162\/\">typographic tour of chicago part 2: morton salt factory (3\/3)<\/a> by _nickd (http:\/\/www.flickr.com\/photos\/_nickd\/2313836162\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Fedex.a310-200.n420fe.arp.jpg\">Fedex.a310-200.n420fe.arp<\/a> by Arpingstone (http:\/\/en.wikipedia.org\/wiki\/File:Fedex.a310-200.n420fe.arp.jpg) is in the Public Domain (second);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/megavas\/3302486505\/\">chevelle SS \u201969 hot wheels<\/a> by Guillermo Vasquez (http:\/\/www.flickr.com\/photos\/megavas\/3302486505\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);<\/p>\n<p><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Zoom_elite_2.png\">Zoom elite 2<\/a> by ChunkySoup (http:\/\/en.wikipedia.org\/wiki\/File:Zoom_elite_2.png) is in the Public Domain (fourth);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/loimere\/5068068920\/\">Day 4 \u2013 Magic Kingdom<\/a> by Derek Hatfield (http:\/\/www.flickr.com\/photos\/loimere\/5068068920\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fifth)<\/p>\n<p><strong><a id=\"figure5-10\" href=\"\/strategicmanagement\/chapter\/differentiation#f5.10\">Figure 5.10:<\/a><br \/>\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/slgc\/5379074286\/\">Coach Bag<\/a> by slgckgc (http:\/\/www.flickr.com\/photos\/slgc\/5379074286\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Handbag_BrownBlue_FW2010.JPG\">Handbag BrownBlue FW2010<\/a> by Parfois (http:\/\/commons.wikimedia.org\/wiki\/File:Handbag_BrownBlue_FW2010.JPG) is in the Public Domain (second);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/classicchanelhandbags\/4988644763\/\">elisha_cuthbert_chanel-purple-handbag<\/a> by Ashley Cooper (http:\/\/www.flickr.com\/photos\/classicchanelhandbags\/4988644763\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/evelynishere\/5300824118\/\">fake purse<\/a> by EvelynGiggles (http:\/\/www.flickr.com\/photos\/evelynishere\/5300824118\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fourth)<\/p>\n<p><a href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.12\"><strong>Figure 5.12:<br \/>\n<\/strong><\/a><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Redbox1.JPG\">Redbox1<\/a> by IlliniGradResearch (http:\/\/commons.wikimedia.org\/wiki\/File:Redbox1.JPG) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Pepperoni_pizza_fast_food.jpg\">Pepperoni pizza fast food<\/a> by Jon Sullivan (http:\/\/commons.wikimedia.org\/wiki\/File:Pepperoni_pizza_fast_food.jpg) is in the Public Domain (second);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Claires.jpg\">Claires<\/a> by TenPoundHammer (http:\/\/commons.wikimedia.org\/wiki\/File:Claires.jpg) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(third);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Big_Buford.jpg\">Big Buford<\/a> by Gaming4JC (http:\/\/commons.wikimedia.org\/wiki\/File:Big_Buford.jpg) is in the Public Domain (fourth)<\/p>\n<p><a href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.14\"><strong>Figure 5.14:<br \/>\n<\/strong><\/a><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Whole_Foods_Market_Cranbrook_Village_Ann_Arbor_Michigan.JPG\">Whole Foods Market Cranbrook Village Ann Arbor Michigan<\/a> by Dwight Burdette (http:\/\/commons.wikimedia.org\/wiki\/File:Whole_Foods_Market_Cranbrook_Village_Ann_Arbor_Michigan.JPG) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Build-A-BearWorkshopVaughanMills.JPG\">Build-A-BearWorkshopVaughanMills<\/a> by Raysonho (http:\/\/commons.wikimedia.org\/wiki\/File:Build-A-BearWorkshopVaughanMills.JPG) used under\u00a0<a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> \u00a0\u00a0(second);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/zimpenfish\/385384830\/\">Cinnabon<\/a> by rjp (http:\/\/www.flickr.com\/photos\/zimpenfish\/385384830\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Mercedes-Benz_SLR_McLaren_2_cropped.jpg\">Mercedes-Benz SLR McLaren 2 cropped<\/a> by Cars en travel (http:\/\/commons.wikimedia.org\/wiki\/File:Mercedes-Benz_SLR_McLaren_2_cropped.jpg) is in the Public Domain (fourth)<\/p>\n<p><strong><a id=\"figure5-16\" href=\"\/strategicmanagement\/chapter\/focused-cost-leadership-and-focused-differentiation#f5.16\">Figure 5.16:<\/a><br \/>\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/milele\/6463957255\/\">Stocking caps<\/a> by Lisa Dusseault (https:\/\/www.flickr.com\/photos\/milele\/6463957255\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Richardsson_Daniel_Tour_de_Ski_2010.jpg\">Richardsson Daniel Tour de Ski 2010<\/a> by Iso76 (http:\/\/commons.wikimedia.org\/wiki\/File:Richardsson_Daniel_Tour_de_Ski_2010.jpg) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(second);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:En-Mauser_98k_based_hunting_rifle.jpg\">En-Mauser 98k based hunting rifle<\/a> by Francis Flinch (http:\/\/commons.wikimedia.org\/wiki\/File:En-Mauser_98k_based_hunting_rifle.jpg) is in the Public Domain (third)<\/p>\n<p><strong><a id=\"figure5-19\" href=\"\/strategicmanagement\/chapter\/best-cost-strategy#f5.19\">Figure 5.19:<\/a><br \/>\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/aseemsjohri\/14513060711\/\">WestJet Boeing 737-8CT | C-GWSZ \/ 812 | \u201cWalt Disney Livery\u201d | Flight WS2660 from YYZ to MBJ<\/a> by Lord of the Wings\u00a9 (https:\/\/www.flickr.com\/photos\/aseemsjohri\/14513060711\/) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:Two_Americano_soft_tacos_(8009893681).jpg\">Two Americano soft tacos (8009893681)<\/a> by Jim G (http:\/\/commons.wikimedia.org\/wiki\/File:Two_Americano_soft_tacos_(8009893681).jpg) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/pagedooley\/5313218644\/\">Target<\/a> by Kevin Dooley (https:\/\/www.flickr.com\/photos\/pagedooley\/5313218644\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);<\/p>\n<p><a href=\"http:\/\/www.flickr.com\/photos\/ckroberts61\/4399109703\/\">Pabst Blue Ribbon Neon Sign<\/a> by Charles Roberts (http:\/\/www.flickr.com\/photos\/ckroberts61\/4399109703\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(fourth)<\/p>\n<p><strong><a id=\"figure5-21\" href=\"\/strategicmanagement\/chapter\/best-cost-strategy#f5.21\">Figure 5.21:<\/a><br \/>\n<\/strong><a href=\"https:\/\/www.flickr.com\/photos\/avlxyz\/2570349350\/\">Sushi Sashimi Medium Platter &#8211; Yama-ya<\/a> by Alpha (https:\/\/www.flickr.com\/photos\/avlxyz\/2570349350\/) used under\u00a0<a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\">CC BY-SA 2.0 Licence<\/a>\u00a0\u00a0(first);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/roland\/5003057345\/\">vijs-at-home-cookbook-launch-20100918-IMG_6335.jpg<\/a> by Roland Tanglao (https:\/\/www.flickr.com\/photos\/roland\/5003057345\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(second);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/roland\/5688155762\/\">arturo&#8217;s mexico to go &#8211; 050420116656<\/a> by Roland Tanglao (https:\/\/www.flickr.com\/photos\/roland\/5688155762\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(third);<\/p>\n<p><a href=\"https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/\">Poutine<\/a> by shankar s. (<a href=\"https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/\">https:\/\/www.flickr.com\/photos\/shankaronline\/8391133171\/<\/a>) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0\u00a0(first)<\/p>\n<p><strong><a id=\"figure5-23\" href=\"\/strategicmanagement\/chapter\/stuck-in-the-middle#f5.23\">Figure 5.23:<\/a><br \/>\n<\/strong><a href=\"http:\/\/www.flickr.com\/photos\/eprater\/4592959910\/\">Arby\u2019s Roast Beef Sign<\/a> by Ethan Prater (http:\/\/www.flickr.com\/photos\/eprater\/4592959910\/) used under\u00a0<a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0 Licence<\/a>\u00a0(first);<\/p>\n<p><a href=\"http:\/\/commons.wikimedia.org\/wiki\/File:TheSourcePromenade.JPG\">TheSourcePromenade<\/a> by Raysonho (http:\/\/commons.wikimedia.org\/wiki\/File:TheSourcePromenade.JPG) used under <a href=\"http:\/\/creativecommons.org\/publicdomain\/zero\/1.0\/\">CC0 Licence<\/a> \u00a0(second);<\/p>\n<p><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Sears_-_Aids_That_Every_Woman_Appreciates.jpg\">Sears \u2013 Aids That Every Woman Appreciates<\/a> by Rachel P. Maines (http:\/\/en.wikipedia.org\/wiki\/File:Sears_-_Aids_That_Every_Woman_Appreciates.jpg) is in the Public Domain (third);<\/p>\n<p><a href=\"http:\/\/en.wikipedia.org\/wiki\/File:Big_Kmart,_Ontario,_Oregon_2006.jpeg\">Big Kmart, Ontario, Oregon 2006<\/a> by Caldorwards4 (http:\/\/en.wikipedia.org\/wiki\/File:Big_Kmart,_Ontario,_Oregon_2006.jpeg) is in the Public Domain (fourth)<\/p>\n","protected":false},"author":1,"menu_order":1,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-170","chapter","type-chapter","status-publish","hentry"],"part":386,"_links":{"self":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":21,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/170\/revisions"}],"predecessor-version":[{"id":3314,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/170\/revisions\/3314"}],"part":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/parts\/386"}],"metadata":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/170\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/media?parent=170"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapter-type?post=170"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/contributor?post=170"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/license?post=170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}