Conclusion
Porter (1980) pointed out that there are 3 generic strategies that could be used by businesses which are differentiation, cost leadership and segmentation strategy. These 3 strategies are based on the strategic scope and strategic strength of the company. Strategic scope is the demand-side dimension whereas strategic strength is the supply-side dimension and looks at the strength or core competency of the company. Thus, Rio Tinto should strengthen its core competencies to compete successfully in the mining industry and also to maintain its position in the mining industry.
This report has analysed the general and industry environment of Rio Tinto's Ilmenite Group, discussed on the importance of environment assessments and has also analyzed on it's global entry strategy.
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