he generic business strategy explicitly addresses the firm’s most essential goals. As a end result, Strategy formulation Step 2 is a matter of specifying the firm’s highest stage objectives. Presents and compares working definitions for business strategy, generic strategy, competitive strategy, high-level strategy, and strategic objective. Some giant companies are shopping for out or merging opponents to nook a younger market. This is a common strategy utilized by Fortune 500 companies to gain a bonus in a new or quickly growing market.