PSG

[Elayg6]

Hi, just need help answering the following question:
"Why do we need Porters Generic Strategies during change?"

[Jigsaw]

Hey,

So Porter's Generic Strategies allows a business to ensure change is successful, through communicating to the business which general strategy (either lower cost or differentiation) will be best for a business to have a competitive advantage. Through evaluating the 5 competitive forces set out by Porter (Entry of new competitors, threat of substitutes, bargaining power of buyers and suppliers and the rivalry between existing competitors), a business can select either two of these strategies, and hence, implement it to achieve a competitive advantage within their discipline. The lower cost or differentiation advantage will allow the business to undercut competitors, and hence allows the business to survive, which is why it is needed in the change process.

Just my thoughts...

[Elayg6]

Helped a lot, cheers Jigsaw!