The Difficult Generic Strategy-Depending on a company's needs, it may opt to use one or more of the six generic strategies at either the domestic or international market levels. Each of the six strategies has several advantages and disadvantages which companies must assess prior to determining whether to implement a specific strategy.

Overall low-cost provider strategy; broad differentiation strategy; focused low-cost strategy; focused differentiation strategy; best-cost provider strategy

Which generic strategy is the most difficult to implement and why? Cite concrete examples.

Foreign Venue and External Environment Elements-A company needs to assess several internal and external environmental elements before it can decide whether to expand into foreign markets.

What is the most important external environmental element a company must consider when planning to enter a foreign venue?