Chris said, “The best competitive strategy is the strategy that is the most effective way a business can create value for their customers and compete against others that provide similar products or services. The reason we start with the topic of best competitive strategy is because the importance of C-O-S-T is related to the type of competitive strategy a firm adopts. If a company’s best competitive strategy is based on having low cost relative to competitors, they will benefit highly from C-O-S-T. On the other hand, if a company’s best competitive strategy is to differentiate their products or services from competitors, and where cost is not the top competitive concern, they will still benefit from C-O-S-T, ...
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