4.2.6 Summary

The skills and resources necessary and the organisational requirements of each of the three generic strategies suggested by Porter are summarized in Table 2.

Click on the thumb nail to enlarge table 2: "Porter´s three Generic Strategies and their Requirements"1

Each of these strategies is designed to give a firm a competitive advantage, but each has several risks associated with it, as seen previously. These are listed in Table 3.

Click on the thumb nail to enlarge table 3: Risks of the Generic Strategies2

And keep in mind that reliable and superior performance, than competition, could be attained when "hybrid strategy" is adopted, depending on the market and competitive conditions of your firm.

1 Certo, S. Peter, J.P. (1990), Strategic Managemnt- A Focus on Process, McGraw-Hill Inc. p.103 (adapted)
2 Ibid. p.104 (adapted)