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ow 6 18 New Perspectives on Competitive Strategy Newer perspectives provide an expanded, and perhaps more realistic, description of what petitive strategies anizations are using ? ? Integrated low costdifferentiation strategy Mintzberg’s generic petitive strategies 169。 Prentice Hall, 2023 End Show 6 12 Traditional Approaches to Defining Competitive Strategy Table 62 Characteristics of Miles and Snow’s Adaptive (Competitive) Strategies Strategy Characteristics Prospector ? ? ? ? Defender ? ? ? ? ? Organization seeks innovation Demonstrated ability to survey dynamic environment and develop new productsservices to fit the changing environment Frequently and continually innovating, developing, and testing new productsservices Competitors are uncertain about prospector’s future strategic decisions and actions Searches for market stability Produces only a limited product line for a narrow segment of total potential market Seeks to protect (defend) its wellestablished business Does whatever is necessary to aggressively prevent petitors from entering their turf Can carve out and maintain niches within its industry that petitors find difficult to perate 169。 Prentice Hall, 2023 End Show 6 7 Who Are Our Competitors? Table 61 Possible Strategic Dimensions for Identifying Strategic Groups ? Price ? Quality ? Level of vertical integration ? Geographic scope ? Product line breadthdepth ? Level of diversification ? RD expenditures ? Market share ? P