Comparative competitive strategy
Keyword(s):
The Comparative competitive strategy of a business depends on the introduction of modern management practices. According to competitive strategy, business objects can be classified as market leaders, challengers, followers, and objects, with own market niches. The key aspects of their competition are analyzed as well. It is noted that the competition strategies are difficult to implement and require a considerable amount of resources. Considering the examples of successful companies around the world, there is no universal model of competitive strategy for a particular business. Each firm must individually select the strategy that suits it, based on its goals, challenges, and opportunities.