What are the differences between a cost leadership strategy and a differentiation strategy? Provide an example of each Cost leadership is one of the three major generic strategies that can be employed by business organizations to gain competitive edges over other players within the industry. The other two are the focus strategy and differentiation strategy. With cost leadership, goods, as well as services that are produced by the organization, are charged at very low prices. This can be achieved by organizations through the minimization of costs. It should, however, be noted that when the strategy is effectively employed, it can significantly get results. This strategy has widely been applied by Wal-Mart Stores Inc. for customer attraction. The firm has achieved this by making sure that the products that they offer are very cheap in comparison to those that are provided by other stores. Additionally, the firm has maintained very low prices through an efficient and effective supply chain. Additionally, the firm has been boosted by large-scale operations. Besides, the firm sources its products from suppliers at very cheap prices. This enables it to sell its items at very cheap prices. Differentiation strategy on the other hand involves the provision of specialized and customized services as well as products for every market segment. It involves the production of unique products within the whole industry. A number of firms have implemented this kind of strategy. This strategy has been employed by 3M Corporation. The firm pays much attention to technological leadership as well as innovation in order to gain competitive edges. What is the difference between integration and a diversification strategy? Provide an example of each Diversification strategy endeavors to enhance profitability through ensuring that there is higher sales volume got from the development of new products as well as new markets. Through diversification strategy, the organization will enhance the sales that it makes through the development of new products that are meant for newer markets (Mintzberg and Quinn, 1988). The strategy was perfectly employed by McDonald when it started McCafe. When the firm started McCafe, it commenced providing fresh products that used not to be provided by the firm earlier. On the other hand, there are a number of integration strategies. Horizontal integration takes place when a given company gets into a fresh business. The business may be related to what the business does or maybe completely different. Vertical integration is another form of integration strategy (Moore, 1995). What is the difference between an acquisition and a merger? Describe a recent example of each scenario A merger always occurs when two firms, in a number of cases firms with similar size decide to come together with the goal of being one single entity instead of having separate operations and ownerships (Buzzell and Gale,1987). There is a difference between a merger and an acquisition. With acquisitions, a single company takes over the other and becomes the single owner of the firm. Between the two firms that are involved in the acquisition, one is always bigger than the other