Business theoreticians have classified the strategies available for firms into 3 broad categories. Under this classification scheme, there are only a basic set of generic business strategies to be pursued:
Differentiation strategies: Cost, Quality, Technical or Innovation leadership.
Focus strategies and Business portfolio analysis: Hold, Invest, Harvest, or Divest.
Growth strategies: Penetration, Product/Market Development, Vertical Integration, Acquisition, Strategic Partnering and Joint Venture opportunities.
