Business level strategies consist of management's game plan for competing successfully and securing a competitive advantage over rivals or competitors. Business level strategies are made to be superior to the competitors by doing a better job of satisfying buyer needs and preferences. So such strategies are known as competitive strategies and also called generic strategies.
Strategic alternatives at business level are formed to reap the competitive advantages in the company. Competitive advantage is anything which gives one company capability or strength over its rival. Business level generic strategies cover two dimensions,
⦁ Strategic Scope
⦁ Strategic Strength.
Strategic scope is demand dimension of competitive advantage. It consists of size, composition and desire of the target market.
Strategic strength is supply dimension of competitive advantage. It consists of strength and core competency of the company to fulfill desire of target market.
Strategic alternatives at business level are studied in following two ways;
⦁ Porter's Competitive Strategy
⦁ Strategic clock-oriented market based generic strategies