subedikrish

Question: Explain how Information technology can be used to gain Michael Porter Generic Competitive Strategies in Hospitality Management. Explain with help of competing on knowledge strategic hospitality technology information. Answer: Michael Porter's Generic Competitive Strategies: Also known as Porter's Generic Strategies, are a set of three basic strategies that businesses can adopt to gain a competitive advantage in their industry. These strategies were introduced by Michael Porter in his book "Competitive Strategy: Techniques for Analyzing Industries and Competitors" published in 1980. Porter argued that companies need to choose one of these strategies to position themselves in the market and achieve sustainable competitive advantage. The three generic strategies are: Cost Leadership Strategy: The cost leadership strategy aims to become the lowest-cost producer in the industry while offering products or services at a competitive price. The key focus is on achiev...