Strategy as Trade-Offs, Discipline, and Focus

Read this section, which discusses different schools of thought regarding strategy, with an emphasis on identifying strategic focus within an organization. Managers need to be able to focus on a specific strategy in order for an organization to achieve any level of success, but they also need to be flexible in order to meet the ever-changing demands of a business. This section will help you identify the trade-offs associated with strategy, as well as outline how to create a competitive advantage. Pay particular attention to this section's discussion of Michael Porter's generic strategies.