A firm uses a corporate-level diversification strategy for a variety of reasons, all of which have to do with ways to create value

Companies in emerging markets frequently use the unrelated diversification strategy because of the absence of a “soft infrastructure” in those markets

Although it is a cost leader, IKEA also offers some differentiated features that appeal to its target customers, including its unique furniture designs, in-store playrooms for children, wheelchairs for customer use, and extended hours

A business-level strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets

A new generation of lunch trucks in cities such as New York, San Francisco, and Los Angeles is serving high-end fare such as hamburgers made from grass-fed cattle, escargot, and crème brulee, at less expensive prices than sit-down restaurants.  This illustrates a focused differentiation strategy

Changing consumer needs are illustrated by Starbucks’ enabling consumers to have an experience and design their own drinks rather than just a cup of coffee

Two ways that external parties can try to make changes to a firm are by forcing the firm into bankruptcy or changing the top management team

A business model is developed first. Then the firm takes steps to understand customers in terms of who, what, and how in order to develop a business-level strategy

The activities in the value chains of companies using focus strategies are quite different than the activities in the value chains of companies using industry-wide business strategies

The following are the reasons to implement TQMs, EXCEPT