What is Strategy? BUSI 7130/7136
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  • 1. What is Strategy? BUSI 7130/7136 Dr. Shook
  • 2. AGENDA
    • Hierarchy of Strategy
    • Two Foundational Schools of Thought
    • What is Strategy?
      • Crafting Strategy
      • Strategy Concept I: 5 P’s
      • Honda Cases
  • 3. Strategic Analysis
    • Simulated Company
    External Analysis Internal Analysis Mission & Vision
    • Business
    • Corporate
    • International
    Strategy What is Strategy?
  • 4. Hierarchy of Strategy
    • Corporate
      • In which businesses should we be?
      • How should we manage the array of businesses?
    • Business
      • How should we compete in a given business?
    • Functional
      • How best can each function support the business level strategy?
  • 5. Two Schools of Thought
    • IO Model of Superior Profitability
    • Resource-Based Theory of the Firm
  • 6. IO Model of Superior Profitability
      • Assumptions:
        • The external environment imposes constraints that determine the strategies that can result in superior profitability.
        • Competing firms control similar resources and pursue similar strategies
        • Resources utilized by firms are highly mobile - - thus homogeneous
  • 7. IO Model of Superior Profitability
      • Prescriptions : Firms must look for attractive industries in which to compete
      • Emphasis : External environment, especially the Industry - analyze it!
  • 8. Resource-Based Theory of the Firm
      • Assumptions:
        • Firms acquire different resources over time
        • Resources heterogeneity within a particular industry
        • Resources may not be highly mobile across firms
        • Difference in resources and how they are used form the basis of competitive advantage
  • 9. Resource-Based Theory of the Firm
      • Prescriptions: Firms should look at their resources and then see how they can be used
      • What about the resource makes it a source of competitive advantage?
        • Valuable
        • Rare
        • Imperfectly imitable
        • Organized
  • 10. Resource-Based Theory of the Firm
      • Emphasis: Organization, especially its resources
  • 11.
    • External Analysis
    • Opportunities
    • Threats
    • Internal Analysis
    • Strengths
    • Weaknesses
  • 12.
    • External Analysis
    • Opportunities
    • Threats
    • Internal Analysis
    • Strengths
    • Weaknesses
    Strategic Mission
  • 13. The Five P’s
    • Plan: A consciously intended course of action
    • Ploy: A maneuver intended to outwit a competitor
    • Pattern: Consistency in a stream of actions
    • Position: Niche or product-market domain place in the industry
    • Perspective: An ingrained way of perceiving the world
  • 14. Strategic Intentions Intended Strategy Deliberate Strategy Unrealized Strategy Emergent Strategy Realized Strategy