04 Nov You have been asked to reflect on how you can gain
You have been asked to reflect on how you can gain a competitive advantage by choosing a specific type of strategy, making a decision about selling Margatitas, and then applying game theory.Consider the 4 corporate-level strategies discussed in Chapter 6 on the text book. Describe the pros and cons of implementing each of these strategies in terms of how they relate to your restaurant. Give one example from the hospitality industry with references for each of the strategies. That means there should be a total of 4 examples. There needs to be four sections discussing:- Concentration Strategy – definition and 1 example from the hospitality industry.- Vertical Integration Strategy – definition and 1 example from the hospitality industry.- Diversification Strategy – definition and 1 example from the hospitality industry.- Mergers and Acquisitions – definition and 1 example from the hospitality industry.In 1 page describe which one would be helpful for your hotel and why. This needs to be a well-reasons, well-thought out reason for your choicePlease use research for this assignment and make sure you cite your references using APA style. This means you must have a list of references at the end of your homework in alphabetical order AND you must have in-text citations. An in-test citation looks like this: Previous research suggest that consumers value the relationship they built with hosts while staying at an Airbnb-style accommodation (Belarmino, Whalen, Koh, & Bowen, 2017).