Actions that firms take to gain competitive advantage in a single market or industry are known as

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Business-level strategies are specific actions taken by firms to gain a competitive advantage in a single market or industry. These strategies are focused on creating value for customers and differentiating the firm's products or services from competitors. Corporate-level strategies, in contrast, are concerned with the overall direction and management of the firm across multiple markets and industries. Functional-level strategies are focused on optimizing the operations of specific functions within the firm, such as marketing or operations. Macro-level strategies refer to government policies or global economic trends that can impact the firm's performance.

Actions That Firms Take to Gain Competitive Advantage in a Single