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By Amit Chaudhary

Wednesday, August 5, 2015

Differences between Generic Strategy and Grand Strategy

Differences between Generic Strategy and Grand Strategy

Generic Strategy

Grand Strategy

Generic strategy is that type of strategy Grand strategy is that type of strategy which
which helps to create strong competitive helps to achieve organizational objective.
position in terms of cost or differentiation.

1.
2.
3.
4.
5.

Its objective is to create strong competitive Its objective is to show direction to the
position, attract existing, new and business firms to achieve firms objective.
competitors customer and finally to
increase profitability.
Grand strategy are corporate level strategy.
Generic strategy are business level
strategy.
Grand strategy is formulated by top level
manager (chief executive officer).
Generic strategy is formulated by the
business or corporate manager.
There are fifteen grand strategy which are:
1. Concentrated growth
There are five generic strategy which are: 2. Market development
Overall low cost leadership strategy
3. Product development
Broad differentiation strategy
4. Innovation
Best cost strategy
5. Vertical integration
Focused low cost strategy
6. Horizontal integration
Focused differentiation strategy
7. Concentric diversification
8. Conglomerate diversification
9. Turnaround
10. Divestiture
11. Liquidation

12.
13.
14.
15.

Joint venture
Strategic alliances
Bankruptcy
Consortia