Perhaps the most foundational strategic decision for any business is the basis on which you will compete in the marketplace.
To be successful in a competitive market, there must be a reason for customers to select the firm’s offers over those of competitors. Arguably, Michael Porter defined the discipline of competitive strategy with his 1980 textbook on the topic. Porter and the team of Michael Treacy and Fred Wiersema each provide a framework for competitive strategies.
Whether using Porter’s generic strategies or Treacy and Wiersema’s market disciplines, the competitive strategy chosen will drive decisions across the company.