Porter’s Generic Competitive Strategies (ways of competing)

A firm’s relative position within its industry determines whether a firm’s profitability is above or below the industry average. The fundamental basis of above average profitability in the long run is sustainable competitive advantage. There are two basic types of competitive advantage a firm can possess: low cost or differentiation. The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus. The focus strategy has two variants, cost focus and differentiation focus.

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WFG Opportunity

Helping people is at the heart of what WFG associates do every day. Even in this time of unprecedented access to information, there remains a lack of financial knowledge among individuals and families. However, WFG associates are ready to provide the tools and guidance needed to help clients make informed financial choices and meet their goals.

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Economics Basics: Supply and Demand By Adam Hayes, CFA

Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy.

Read more: Law of Supply and Demand: Basic Economics http://www.investopedia.com/university/economics/economics3.asp#ixzz4xg6ileQP
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