The final paper, entitled as "Porter's Generic Strategies", presents the basic determinants of business strategies and strategic management, explains Porter's generic strategies, and determines the effectiveness of the application of strategies on the example of the automotive industry. These strategies include the strategy of differentiation, the strategy of cost management, the strategy of focusing. With the differentiation strategy, the company decides to strengthen its competitive advantage by differentiating in relation to competitors. That is, the goal is to provide services and / or sales of products that are different from competitors, while "covering" a number of market segments. The cost management strategy is based on business within which the advantage over the competition is achieved by increasing market share with low operating costs. A focusing strategy is one in which a company's business focuses on certain market segments and is, in practice, derived from the aforementioned two strategies. After theoretical considerations of Porter's generic strategies (business strategies), in the second part of the final paper examples of these strategies are given on the example of the automotive industry, namely: Ford, Mercedes-Benz, BMW and Hyundai. It has been shown how these producers, by applying certain business strategies, built their own competitive advantage and achieved profitable business.