What are the different types of business level strategies?

What are the different types of business level strategies?

Business strategy can only work if a business strategy professional knows which business level strategies have to be applied to cut the competition and ensure success.

A business strategy professional with her strong business acumen knows when and which business-level strategies to apply, so as to slice through the competition and gain an edge over its competitors.

But wait! What are business-level strategies?

The business-level strategy is defined as a strategy that addresses the basic question of how a business aims to compete in its particular industry. In simple words: A business-level strategy helps businesses differentiate themselves from their competitors.

While it may be easy to understand the whats and hows of business-level strategy, the complication arises when one has to choose the type of business strategy that will help the organization to stay ahead of its competition.

Business Strategy – Business Level Strategies for Astounding Success!

As a business strategy professional, it is important to know that while there are numerous business-level strategies – the key is to find the right business strategy that will help your business gain added advantage over your competitors. As discussed there are numerous business-level strategies – let’s have a look at the five important ones –

  1. Cost leadership strategy: This business strategy competes with a broad range of businesses based on cost.
  2. Differentiation strategy: It competes by using a product or service with completely unique features.
  3. Focused differentiation: This type of business-level strategy not only competes through differentiation but also (uniqueness of product/service) but also selects a small portion of the market on which it lays its focus.
  4. Focused low-cost: This type of strategy competes not only through cost but also by selecting a small portion of the market that needs to be focused.
  5. Integrated low-cost differentiation: It is a business strategy that competes by using both low cost and differentiation.

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