12BM U4AOS1 KKP7 2025

Multiple Choice

Which of the following is NOT one of Porter’s Generic Strategies for strategic management?

• Cost Leadership

• Differentiation

• Market Penetration

• Focus

Open Ended

Why is it important for businesses to review their performance and consider the need for change using strategic management approaches like Porter's Generic Strategies?

Multiple Choice

According to Michael Porter, what is the main goal of achieving a competitive advantage?

• To place a business in a superior position compared to its competitors

• To increase the number of employees

• To expand internationally

• To reduce the number of competitors

Multiple Select

Which of the following are pricing approaches for the 'lower cost' strategy according to Porter?

• Charge similar prices to competitors

• Charge slightly lower prices than competitors

• Charge much lower prices than competitors

• Charge higher prices than competitors

Open Ended

Can you think of another Australian business that uses the 'lower cost' strategy?

Multiple Select

Which of the following methods can help a business achieve differentiation according to Porter?

• Using quality materials in production

• More successful marketing

• Building closer relationships with customers

• Reducing the number of employees

Open Ended

Reflecting on today’s lesson, how confident do you feel about applying Porter’s Generic Strategies to a real-world business case study?

Open Ended

Can you think of another Australian business that uses the 'differentiation' strategy?

Multiple Choice

What are the two key approaches to strategic management according to Porter’s Generic Strategies?

• Lower cost and differentiation

• Market penetration and product development

• Cost leadership and market segmentation

• Innovation and diversification

Open Ended

How might a company decide whether to use Porter’s Lower Cost Strategy or Differentiation Strategy? Discuss the factors that could influence this decision.