According to Porter ' s model of competitive strategy, which of the following is a...

Porter’s generic strategies include cost leadership, differentiation, and focus strategies. Focus strategies may be applied through cost focus or differentiation focus. Therefore, differentiation, focused differentiation, and cost focus are valid generic strategies. Competitive advantage is not itself one of the generic strategies; it is the outcome that the strategies are intended to create. Option A is wrong because competitive advantage alone is not a generic strategy. Option B omits differentiation, which is a core generic strategy. Option D incorrectly includes competitive advantage as though it were a strategy. Internal auditors reviewing strategic planning should understand these concepts because strategy affects risk appetite, operational priorities, performance measures, and control design. The correct combination is items 1, 3, and 4 only, making Option C correct.