Michael Porter argues that firms can create competitive advantages for themselves by adopting one of the following strategies:
I.Cost leadership: firms strive to use the latest technology to lower the costs of production.
II.Differentiation: firms can differentiate their products by providing customers with unique delivery alternatives.

Question

Quizplus · Accepted Answer

Michael Porter indeed argues that firms can create competitive advantages for themselves through cost leadership and differentiation strategies. Cost leadership focuses on lowering production costs through the use of the latest technology, while differentiation aims to provide customers with unique delivery alternatives to make their product stand out from competitors. Therefore, both options I and II are correct.

Michael Porter Argues That Firms Can Create Competitive Advantages for Themselves