Business must be able to have competitive advantages over the competitors in order to be

successful in the market. Different strategies need different skills, capabilities and
resources. For a firm to come up with all the strategies is very hard but if the firm can
come up with multiple strategies together then the firm can earn the profit at maximum
level. Business that possesses multiple forms of competitive advantage i.e. cost
leadership and differentiation, enjoys the highest level of profitability (Pearce II &
Robinson, 2015). Company can enjoy the best position in the market if it can come up
with the right mixture of strategies in the market which can give them competitive
advantages over their competitors. The mixture can be two strategies, three strategies,
four strategies or can be a single strategy which can provide the company competitive
advantages over their rivals and earn maximum profits. If the business wants to earn the
highest level of profits, then it should concentrate on two or more source of competitive
advantage (Pearce II & Robinson, 2015).
The best example of the company using various strategies at a time is dell with low-cost,
differentiation and speed as well. The company has been able to provide the customers its
products with differentiation at lower price and can provide products at earlier time than
the other competitors.
References
Pearce II, J. A., & Robinson, R. B. (2015). Strategic Management: Planning for
Domestic and Global Competition (14th ed.). New York: McGraw-Hill Education.