Looking at the company you now work at, where you previously worked (be sure to identify the company and industry it belongs in such as not for profit higher education), or where a spouse/friend/relative works, how are 1, 2 or all of the 3 basic strategies (Cost Reduction, Product Differentiation, and Reduction in Competitive Intensity) employed to keep profits from eroding? Be sure to use specific examples. Remember that Cost Reduction is not the same as Price Reduction (one focuses on cost and the other on selling price). How is/are the strategies employed? Which one do you feel most important to the company and why? Have any strategies changed with the company over the past year/few years? Does the company need to change strategies? Is profitability sustainable for the company?