How is Porter's competitive strategies useful in Australia Stores?

Competitions in today’s world are not as what they have been in the past years. Today as the number of firm increases, competition between firms becomes tougher, as a result of increasing competition against other firms for market shares. As competition is increasing, strategies from the past would not survive in today’s world, therefore new strategies have to be created for firms to be able to compete against other firms in the market. Strategies usually produced by firms and industries have three different levels, corporate level strategy, business level strategy and functional level strategy respectively. (Bartol: 2001: 207) Business level strategy refers to the ‘type of strategy concentrating on the best means of competing within a particular business.’ (Bartol: 2001: 207) One important element from the Business level strategy is Porter’s Competitive Strategy, which consists of three generic business-level strategies, so as to acquire competitive advantages over other fir...