Competitive advantage leads to a position of superior performance that a firm can achieve through one of the following generic strategies: cost leadership, differentiation or focus.
Cost leadership is the achievement of the lowest unit cost base of the industry, whereas differentiation is the ability to charge a premium price for offering some perceived added value to the customer.
The focus strategy is the concentration of a narrow segment and within that segment attempt to achieve either a cost advantage or differentiation
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The value chain is fundamental for the Innovation strategy NECESSARY to have a competitive advantage. The Innovation strategy can be viewed as a fundamental pillar supporting realization of the overall business strategy,based on marketing & sales strategy,Innovation strategy,Manufacturing and supply chain strategy ,alliances strategy,all enabling functional strategies,such sa HR,IT,Finance,etc. A successful company must anticipate and manage change according to the key drivers of the global operating environment of technology & Innovation ，such as natural resources,demographics,consumption patterns,regulation & activism,globalization
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