Question: Summarize and expand on Business-Level Strategy, and explain the different generic strategies. Most importantly, explain which of the generic strategies you feel is the best (most profit potential - or choose another metric). There is often student confusion over the different levels of strategy:

(1) functional level,

(2) business level, and

(3) corporate level. Functional refers to functional areas such as R&D, Production, Finance, Accounting, etc. Business level strategy refers to the single firm, and this is what is discussed in Chapter 5. Corporate level strategy refers to the strategy of an organization that owns MULTIPLE businesses. It is critical to align your strategies across all levels. You might choose to discuss why this is important.