3rd week discussion for MGT class. Read/review the following resources for this activity:Textbook: Chapter 5, 6File (PDF): Presentation (McGraw-Hill, 3e) ? Chapter 5, 6 (in Course Documents)Minimum of 1 reliable resource for initial postÿÿIntroductionA company can implement many different basic approaches to competing successfully and gaining a competitive advantage over its rivals. However, it is important to note that all companies strive to deliver superior value to customers compared to the offerings of rivals. Superior customer value could mean a good product at a lower price, a superior product that is worth paying more for, or a best-value offering that represents an attractive combination of price, features, quality, service, and other appealing attributes. Therefore, in this discussion, you will have the opportunity to learn about and discuss the five generic competitive strategies that many companies use today to ensure optimal competitive advantages.Initial Post InstructionsFor your initial post, address the following:Review the five generic competitive strategies discussed in the textbook and share the strategy you believe to be the most effective at enhancing a company?s competitive advantages. Explain why.Does the strategy depend upon the type of company and industry? Why or why not?