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1) What are the four major approaches to strategy? Summarize them in your own words and talk about what is required to successfully implement each

1) What are the four major approaches to strategy? Summarize them in your own words and talk about what is required to successfully implement each of them.

2) Walmart competes on the basis of cost leadership. Explain how a local firm could successfully compete with Walmart by using the correct selection of one of the generic strategies.

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