Ibus 466 multinational management: a strategic approach. Strategic management in the multinational company: content and formulation. Strategy central, comprehensive, integrated and externally oriented set of choices determining how a company with achieves its objectives. Competitive advantage and multinational applications of generic strategies. Generic strategies basic ways that both domestic and multinational companies keep and achieve competitive advantage. Competitive advantage company"s strategy creates superior value for targets customers and difficult or too costly for competitors to copy. Two primary generic strategies that companies use to gain competitive advantage. Differentiation strategy based on finding ways to provide superior value to customers. Exceptional product quality, unique product features, rapid innovation or high quality service. Low cost strategy producing products or services equal to those of competitors at a lower cost. Lower costs without sacrificing the level of quality that is acceptable to customers. Finding sources of cheaper raw materials, employing cheaper labor, using more efficient production methods or using more efficient delivery methods.