¶ … strategic choices made in the modern corporate world today are what separate success and failure for most companies. The importance of strategic efficiency and its regular evaluation can never be overestimated in the context of modern competition. This paper will hence focus on numerous potential strategic approaches that an organization can take in order to not only attain success but also sustain and increase it in the long run. The paper will focus on four primary strategic domains, which are: generic, value-based disciplines, grand or macro and multi-business strategies. Each of these strategic domains is discussed below. Potential Generic Strategies

The generic strategy of a company is primarily its 'core idea'. In other words, the generic strategy of a company forms the basis for any and all grand strategies, long-term goals and image that it wants to project onto the market. The generic strategies also help identify the specific target clientele that the company aims to serve in the short and long run (Pearce and Robinson, 2011a). Some of the basic potential generic strategies that organizations must employ include the following:

Implement 'Low-Cost' Leadership: Good leadership is vital for the success of any and all organizations. When we talk about low-cost leadership, we simply mean innovative leadership that employs unique skills in different situations in order to assert an edge over its competitors. Such skills could include a wide variety of aspects like having a trusted...

The values disciplines that a modern contemporary organization must at all times try and adopt include: operational supremacy, customer intimacy and product leadership.
The main aim of these three variables is the same: sustained profits. In order to attain a sustainment of profits, these variables thus focus on certain functions i.e. organizational supremacy mainly deals with designing and producing reliable products in a timely manner and promoting them in the right way to the right audience. Similarly, customer intimacy deals with the focus on understanding…