ANSWER ONE OF THE FOLLOWING QUESTIONS IN AT LEAST 150 WORDS What is required to transform a business-level strategy from a concept to a reality? What are drawbacks and risks associated with each of...

Q- What are drawbacks and risks associated with each of the business-level strategies?
Business level strategies are strategies used by organizations to get competitive edge in the market. Each business strategy focuses on different part of customer and market and works accordingly. They have several advantages as well as disadvantages. There are major 5 business level strategies, and there are associated risks and drawback. These are as follows-
    Business level strategy
    Drawbacks
    Risks
    Cost leadership
    · Powerful buyers can force to further reduce price.
· Low profits.
· No frills, standardized and commodity like product.
· Firm misses change as per customer’s need
    · Competitor’s innovation can eliminate cost advantage immediately.
· Competitors mat learn to imitate the strategy of cost leader.
· No focus on differentiation
    Differentiation
    · Drive up...