Similarities in the ways companies attempt to compete within a single industry are known as generic strategies.
A generic strategy is a broad approach to a company's industry positioning. Concentrating on one generic strategy enables executives to concentrate on the essential components of business-level strategies for their companies and avoid competing in the markets better suited by other generic strategies.
When a company concentrates its energies on just one type of business, that is focusing on a single industry. Reducing the size of their organization enables a business with too many industries to concentrate on some of the items that have helped the business become financially successful.
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