This is because both have a clear strategic profile. Rather, the idea is to com-pare Rolex's strategic position with the next-best differentiator (e.g., Ebel), and Timex s strategic position with the next-best, low-cost producer (e.g., Swatch). When considering different business strategies, managers also must define the scope of competition-whether to pursue a specific, narrow part of the market or go after the broader market.' In the preceding example, Rolex focuses on a small market segment: affluent consumers who want to present a certain image. Timex offers watches for many different segments of the mass market. Now we can combine the dimensions describing a firm's strategic position (differentia-don vs. cost) with the scope of competition (narrow vs. broad). As shown in Exhibit 6.2, by doing so we get the two major generic (or broad) business strategies (cost leadership and differentiation), shown as the top two boxes in the matrix, and what are termed the focused version of each (shown as the bottom two boxes in the matrix). The focused versions of the strategies-focused cost-leadership strategy and focused differentiation strategy-are essentially the same as the broad generic strategies except that the competitive scope is narrower. The manufacturing company BIC pursues a focused cost-leadership strategy, offering disposable pens and cigarette lighters at a very low price (often free promotional giveaways by companies), while Mont Blanc pursues a focused differentiation strategy, offering exquisite pens priced at several hundred dollars. The automobile industry provides an example of the scope of competition. Alfred P. Sloan, long-time president and CEO of GM, defined the carmaker's mission as providing a car for every purse and purpose. GM was one of the first to implement a multidivisional