Qualities of Long-Term Objectives

· What distinguishes a good objective from a bad one?

· What qualities of an objective improve its chances of being attained?

· Describe the five qualities of long-term corporate objectives that make them especially useful to strategic managers.

· Explain the generic strategies of low-cost leadership, differentiation, and focus.

Business Strategy

· Determine why a business would choose a low-cost, differentiation, or speed-based strategy.

· Explain the nature and value of a market focus strategy.

· Illustrate how a firm can pursue both low-cost and differentiation strategies.