The other elements are the value chain and the generic strategies.

Merck will have more time than most drug makers to test its generic strategy.

However there are a number of ways of categorizing some generic strategies.

These are known as Porter's three generic strategies and can be applied to any size or form of business.

He introduced many new concepts including; 5 forces analysis, generic strategies, the value chain, strategic groups and clusters.

Firms in the middle were less profitable because they did not have a viable generic strategy.

Following this, we shall consider how to detect the right generic strategy.

That discussion will be broadened to take in the notion of generic strategies and the further implications for accounting.

Financial analysts have a role to play in testing the validity of generic strategies, too.

This would then test Porter's generic strategies against shareholder value.