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business policies and strategies

business policies and strategies

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    Bpsm2 Bpsm2 Presentation Transcript

    • BUSINESS POLICY & STRATEGY MODULE – 2 COMPETITIVE ADVANTAGE Dr. MARAMRAJU PADMAKAR RAO
    • REFERENCES:
      • “ STRATEGIC MANAGEMENT”
      • ----Charles W. L. Hill
      • Gareth R. Jones
    • STRATEGIC PLANNING PROCESS MISSION & GOALS SWOT STRAT. CHOICE EXTERNAL OPP & THREATS INTERNAL STRENGTHS WEAKNESS FUNCTIONAL BUSINESS GLOBAL CORPORATE STRATEGIES CORP. PERFORM- -ANCE IMPL. IN FIRM IMPL.IN INDUSTRY FEEDBACK
    • EXTERNAL ENVIRONMENT
      • INDUSTRY : Group of companies offering product or services that are close substitutes for each other i.e. product/service that satisfy the same basic customer need
      • INDUSTRY BOUNDARY : Basic customer needs that are served by a market define the industry boundary.
      • SECTOR : A group of closely related industries
      • EX:1. COMPUTER SECTOR -------------Computer component industry
      • -------------Computer hardware industry
      • -------------Computer software industry
      • 2. TELECOMMUNICATIONS: --Telecommunication Equipment Ind.
      • SECTOR -- Telecommunication Services Ind.
    • INDUSTRY COMPETITIVE ANALYSIS
      • Porter’s Five Forces Model
      • Strategic Group Analysis
      • Industry Life Cycle Analysis
    • PORTER’S FIVE FORCES MODEL RISK OF ENTRY BY POTENTIAL COMPETITORS INTENSITY OF RIVALRY AMONG FIRMS BARGAINING POWER OF SUPPLIERS BARGAINING POWER OF BUYERS THREAT OF SUBSTITUTES
      • RISK OF ENTRY:
      • a) BRAND LOYALTY – by continuous ads, patent protection, product innovation, high product quality
      • b) ABSOLUTE COST ADVANTAGE – superior production operations, control of inputs like labor, material, equipment, skills, access to cheaper funds.
      • c) ECONOMICS OF SCALE – cost reduction thro mass production, discounts on bulk purchase of raw materials, spreading fixed production costs, cost savings through spreading marketing & advertising over a large volume.
      PORTER’S FIVE FORCES MODEL
    • PORTER’S FIVE FORCES MODEL …contd
      • d) Customer switching cost- -- high switching charges locks the customer, higher barrier to exit
      • Ex: switching from one Operating system to another
      • e) Government Regulations --- lowers the barrier to new entrants Ex: Telecom, Transport airlines
      • 2) RIVERLRY AMONG THE ESTABLISHED FIRMS: Competitive struggle to gain market share
      • PRICE, PRODUCT DESIGN, ADVERTISING, PROMOTION SPENDING, DIRECT SELLING EFFORTS, AFTER SALES SERVICE AND SUPPORT
    • PORTER’S FIVE FORCES MODEL …contd
      • INDUSTRY COMPETITIVE STRUCTURE
      • a) Fragmented Industry: Large no of small/ medium size companies & none can determine industry price. Boom and bust cycles repeat, profits rise & fall, large no of new entrants
      • Ex: Agriculture, Health clubs
      • Strategy : minimize cost
      • b) Consolidated Industry: A small no of large cos
      • (OLIGOPOLY), one company competitive actions will lead to competitive reaction .May lead to competitive spiral. Ex: Airlines, Automobiles, Aerospace, Pharma
      • Strategy : prices should be set by watching, interpreting, anticipating and responding to each other behavior
      • INDUSTRY DEMAND: High demand reduces competition
      • Declining demand increased the rivalry
      • EXIT BARRIERS:
      • INVESTMENTS IN ASSETS LIKE SPECIAL MACHINES
      • HIGH FIXED COST OF EXIT
      • EMOTIONAL ATTATCHMENT
      • ECONOMIC DEPENDENCE ON THE INDUSTRY
      • THE NEED TO MAINTAIN EXPENSIVE COLLECTION OF ASSETS
      PORTER’S FIVE FORCES MODEL …contd
    • PORTER’S FIVE FORCES MODEL …contd
      • 3. BARGAINING POWER OF BUYERS:
      • Buyers are Powerful when
      • a) If industry composed of large small companies and buyers are large and few
      • b) If buyers purchase large quantities
      • c) When supply industry depends on buyers for a large quantity of its total orders
      • d) When switching costs are low
      • e) When it is economically feasible for buyers to purchase an input from several companies
      • f) When buyers can threaten to enter the industry and produce the product themselves
      • Ex: Suppliers of auto components for GM, Ford,
      • Daimler Chrysler
    • PORTER’S FIVE FORCES MODEL …contd
      • 4.BARGAINING POWER OF SUPPLIERS:
      • Suppliers are powerful when
      • The product has few substitutes and is vital to the company.
      • When the industry is not an important customer to the supplier.
      • If the product of the supplier is unique or different.
      • Suppliers can threaten to enter customer’s industry to produce products that would compete with those of the industry.
      • Firms in the industry can not threaten to enter their suppliers industry and make their own inputs.
      • Ex: PC manufacture: Intel CPU chips 85% of the chips needed for PC
      • The competitors can not match Intel’s price & scale
    • PORTER’S FIVE FORCES MODEL …contd
      • 5. SUBSTITUTE PRODUCTS:
      • --- Companies in coffee industry will have substitute products in tea or soft drinks.
      • Existence of close substitutes will give strong competition and the threat limits the price
      • In case of no substitutes the companies can increase the price and make profits
      • COMPLIMENTORS:
      • Products that add value to the products of the companies in an industry.
      • Ex: Application software and the PC for better service to the customer.
    • INDUSTRY COMPETITIVE ANALYSIS
      • Porter’s Five Forces Model
      • Strategic Group Analysis
      • Industry Life Cycle Analysis
    • Strategic Groups within Industry
      • HIGH
      • PRICES
      • CHARGED
      • LOW
      • LOW R & D SPENDING HIGH
      PROPRIETARY GROUP MERCK PFIZER Eli Lilly GENERIC GROUP FOREST LABS CARTER ICN
    • IMPLICATIONS OF THE STRATEGIC GROUPS
      • DIRECT SUBSTITUTES FOR EACH OTHER INSIDE THE GROUP
      • RIVELVRY WITHIN ITS OWN STRATEGIC GROUP
      • EACH STRATEGIC GROUP FACE DIFFERENT SET OF OPPORTUNITIES AND THREATS
      • THE FIRMS IN THE PROPRIETARY GROUP CAN CHARGE HIGHER PRICES DUE TO THE PATENTS
      • THE FIRMS IN GENERIC GROUP ARE IN WEAKER POSITION DUE TO NUMBER OF COMPETITORS
      • MOBILITY BARRIERS DUE TO HIGH R&D COST, PRICE STRUCTURE etc.
    • INDUSTRY COMPETITIVE ANALYSIS
      • Porter’s Five Forces Model
      • Strategic Group Analysis
      • Industry Life Cycle Analysis
    • INDUSTRY LIFE CYCLE ANALYSIS *---Competitive Changes During Industry Evolution
      • EMBRYONIC INDUSTRIES
      • GROWTH INDUSTRIES
      • INDUSTRY SHAKEOUT
      • MATURE INDUSTRIES
      • DECLINING INDUSTRIES
    • Industry Life Cycle Demand Time Embryonic Growth Maturity Decline Shake out
    • 1.EMBRYONIC INDUSTRIES
      • Slow growth due to buyers unfamiliarity
      • High prices due to low scale of economics
      • Poorly developed distribution channels
      • Barrier to entry due to access to technology
      • Based on the innovative efforts of the company
      • Rivalry on:
      • Educating customers
      • Opening of the distribution channels
      • Perfecting the design of the product
      • Not on the price
      • EX: Personal Computers (APPLE)
      • Vacuum Cleaners (HOOVER)
      • Photo Copiers (XEROX)
    • 2.GROWTH INDUSTRIES
      • Demand increasing rapidly
      • Customers are becoming familiar with the Product
      • Prices fall due to the attainment of the scale of economics
      • Developing Distribution Channels
      • Threat from Potential Competitors is the highest
      • Intensity of rivalry relatively low due to the expanding Industry
      • Enables the Companies to expand their revenues and profits without affecting the market share of their competitors
    • 3.INDUSTRY SHAKEOUT
      • The rate of growth slows down
      • Demand approaches saturation
      • Rivalry Intensifies between companies
      • Emergence of excess production capacity
      • Results in price war and price reduction
      • Drives most inefficient companies into bankruptcy
      • Deters new entry
    • 4.MATURE INDUSTRIES
      • Barriers to entry increases
      • Threat of entry decreases
      • Competition for market share increases
      • Price war and prices decrease
      • Companies focus on cost reduction and develop on brand loyalty
    • 5. DECLINING INDUSTRIES
      • Growth becomes negative due to technological, social changes, demographics and international competition
      • Degree of rivalry increases
      • Excess capacity is created
      • Prices decrease
      • Exit barriers play greater role in adjusting excess capacity
    • THE MACRO ENVIRONMENT*
      • ECONOMIC FORCES
      • TECHNOLOGICAL FORCES
      • DEMOGRAPHIC FORCES
      • SOCIAL FORCES
      • POLITICAL AND LEGAL FORCES
      • ECONOMIC FORCES
      • DEMO- SOCIAL
      • GRAPHIC FORCES
      • FORCES
      • TECHNOLOGICAL FORCES
      RISK OF ENTRY BY POTENTIAL COMPETITORS INTENSITY OF RIVALRY AMONG FIRMS BARGAINING POWER OF SUPPLIERS BARGAINING POWER OF BUYERS THREAT OF SUBSTITUTES
    • 1. ECONOMIC FORCES
      • Growth Rate of economy—increased customer expenditure, low competitive pressures, expansion& more profits
      • Interest rates—directly affects demand, cost of capital
      • Currency Exchange rates—affects the competitiveness in the global market
      • Inflation Rates--- investment planning difficult, affects the real future value of returns
    • 2. TECHNOLOGICAL FORCES
      • Both Creative & destructive — opportunity & threat
      • Lowers the barriers of entry, prices and profits, Increases the intensity of rivalry
      • Ex: Effect of Internet on advertising
      • Effect of biotechnology companies on
      • established pharmaceutical companies
    • 3. DEMOGRAPHIC FORCES:
      • No of women work force has increased from 44 to 60% --problems of equal pay, harassment of women at work place
      • Changes in age distribution of population
      • --opportunity for orgns catering for old
      • Home health care and recreation
      • Baby boomers create mkt for customer appliances like washing machines, dish washers, dryers etc
      • Saving for retirement creates more inflows into mutual funds and other savings
    • 4. SOCIAL FORCES
      • Changing social moves and values --- creates both opportunity and threat
      • Ex: Health Consciousness
      • Miller Lite– low calorie beer
      • PepsiCo’s colas & fruit based soft
      • drinks
      • Tobacco industry – decline due to
      • customer awareness of the health
      • hazards of smoking
    • 5. POLITICAL & LEGAL FORCES
      • Political processes shape a society’s laws
      • Deregulation lowers the entry barriers leading to intense competition and fare wars
      • Govt regulations increase the entry barrier
      • Financial support to politicians can help the cos to influence the govt to pass laws favorable to it ---
      • Ex:Enron power --deregulation
      • Imposition of import duty on
      • steel in US
    • GLOBALIZATION OF INDUSTRY STRUCTURE
      • Surge in value and volume of Intl trade
      • Globalization of production ---improved in the cost & quality of factors of production labor, energy, land & capital resulting in lower cost and boost profits
      • Globalization of Markets---National mkts are merging into one huge global market
      • Ex: Coca Cola, Citigroup Credit Cards, Blue jeans, Sony Play station, McDonald, Nokia phones, Microsoft Windows
    • IMPLICATIONS OF GLOBALIZATION
      • Industry boundaries do not stop at national borders
      • Shift from national markets to Global markets intensified the competitive rivalry
      • Rate of Innovation has increased along with Competitive intensity
      • Through the threat of entry and the intensity of rivalry has increased, it has created enormous opportunities
    • NATIONAL COMPETITIVE ADVANTAGE* Attributes:
      • Factor Endowments
      • Demand Conditions
      • Relating and Supporting Industries
      • Firm Strategy, Structure and Rivalry
    • NATIONAL COMPETITIVE ADVANTAGE* NATIONAL COMPETITIVE ADVANTAGE FACTOR CONDITIONS INTENSITY OF RIVALRY LOCAL DEMAND CONDITIONS COMPETITI- VENESS OF SUP. INDUS
    • 1. Factor Endowments :
      • BASIC FACTORS: Land, Labor, capital and Raw Materials
      • ADVANCED FACTORS : Technological Know How, Managerial Sophistication, Physical Infrastructure like Roads, Railways and Ports
    • 2.Local Demand Conditions:
      • Companies are more sensitive to the needs of the closest customers
      • Creates pressure for innovation and quality
      • High standards of product quality due to sophisticated customers
      • Ex: Cameras of Japan
      • Cell phones of Nokia, Ericsson of
      • Finland and Sweden
    • 3.COMPETITIVENESS OF RELATED AND SUPPORTING INDUSTRIES:
      • Benefits of investments in advanced factors of production by the related & supporting industries will spill over in the industry
      • Ex: Sweden—strength in fabricated steel products spilled over into specialty steel industry
      • Successful industries within a country tend to be grouped into clusters of related industries Ex: German textile & apparel sector –High quality cotton, wool, synthetic fiber, sewing machine needles and other textile machinery
    • 4. INTENSITY OF RIVALRY:
      • German & Japan predominantly top management team consists of engineers emphasis on improving processes and product design
      • In US the top management contain mainly finance background— short term financial returns– loss of US competitiveness in many engineering based industries
      • Rivalry induces companies to improve efficiency
      • Creates pressure to innovate, improve quality, reduce costs & upgrade advanced factors
    • STRATEGIC PLANNING PROCESS MISSION & GOALS SWOT STRAT. CHOICE EXTERNAL OPP & THREATS INTERNAL STRENGTHS WEAKNESS FUNCTIONAL BUSINESS GLOBAL CORPORATE STRATEGIES CORP. PERFORM- -ANCE IMPL. IN FIRM IMPL.IN INDUSTRY FEEDBACK
    • INTERNAL ANALYSIS
      • We should understand -----
      • How the value is created and profit generated?
      • What is the role of Resources, Capabilities and Distinctive competencies in this process?
      • The importance of superior efficiency, innovation, quality and response to customers
      • To analyze the sources of competitive advantage to identify what is driving the profitability
      • How the strengths of the enterprise boost its profitability and the weaknesses lead to lower profitability?
    • CRITICAL ISSUES IN INTERNAL ANALYSIS
      • What factors influence the durability of competitive advantage?
      • Why do successful companies lose their competitive advantage?
      • How can companies avoid failure and sustain the competitive advantage over a period of time?
    • GENERIC BUILDING BLOCKS OF COMPETITIVE ADVANTAGE*
      • EFFICIENCY
      • QUALITY AND RELIABILITY
      • INNOVATION
      • RESPONSIVENESS TO CUSTOMERS
      • ---Differentiate its product offering & creates greater customer perceived value
      • ---Lower its cost structure
    • GENERIC BUILDING BLOCKS OF COMPETITIVE ADVANTAGE Superior Quality Comp. Adv *Low Cost . *Differentiation Superior Efficiency Superior Customer Responsive- -ness Superior Innovation
    • 1.EFFICIENCY:
      • EFFICIENCY HELPS A COMPANY ATTAIN A COMPETITIVE ADVANTAGE THROUGH LOWER COST STRUCTURE
      • EMPLOYEE PRODUCTIVITY
      • CAPITAL PRODUCTIVITY
      • PRODUCTIVITY OF R&D SPENDING
      • SALES FORCE PRODUCTIVITY
      • HIGH PRODUCTIVITY LEADS TO GREATER EFFICIENCY AND LOWER COSTS
    • 2. QUALITY & RELIABILITY :
      • IF CUSTOMERS PERCEIVE GREATER VALUE IN THE ATTRIBUTES OF A SPECIFIC PRODUCT AS COMPARED TO COMPETITORS
      • HIGH QUALITY PRODUCTS INCREASES THE VALUE OF THE PRODUCT IN THE EYES OF THE CUSTOMER &THE COMPANY CAN CHARGE HIGH PRICE
      • RELIABLE PRODUCTS GIVE RISE TO GREATER EFFICIENCY AND LOWER UNIT COST ie LESS EMPLOYEE TIME IS WASTED MAKING DEFECTIVE PRODUCTS OR PROVIDING SUBSTANDARD SERVICES
      • IN MANY INDUSTRIES QUALITY & RELIABILITY HAS BECOME AN ABSOLUTE IMPERATIVE FOR SURVIVAL
    • 3. INNOVATION :
      • PRODUCT INNOVATION –Development of products that are new or have superior attributes to existing products. Ex: Intel microprocessors, Cisco’s Routers, Palm’s Hand held computer—increases company’s pricing options
      • PROCESS INNOVATION —Development of new process for producing products& delivering to customers Ex: Toyota: Lean production system, Just in time inventory, self managing teams, reduced setup times
      • Innovation makes a company UNIQUE as compared to its rivals and it can differentiate itself from its rivals.
      • Innovation can reduce its unit costs far below those of competitors
    • 4. RESPONSIVENESS TO CUSTOMERS :
      • Identifying and satisfying customer needs better than the rivals
      • Achieving superior quality and innovation leads to superior responsiveness
      • Customize goods and services unique demands of the customers
      • Fast response time
      • Superior design, superior after sales service and support allows a company to differentiate --- helps to get brand loyalty, and company can charge a premium price for its products
    • DISTINCTIVE COMPETENCIES
      • ARE FIRM SPECIFIC STRENGTHS THAT ALLOW A COMPANY TO DIFFERENCIATE ITS PRODUCTS AND ACHIEVE SUBSTANTIALLY LOWER COSTS THAN ITS RIVALS THUS GAIN COMPETITIVE ADVANTAGE
      • Ex: TOYOTO’S LEAN PRODUCTION SYSTEM CONSISTING OF
      • a) JUST IN TIME INVENTORY SYSTEM
      • b) SELF MANAGING TEAMS
      • c) REDUCED SETUP TIMES FOR COMPLEX EQUIPMENT
      • A STRATEGY IS THE DRIVER OF COMPETITIVE ADVANTAGE AND PROFITABILITY
      • DISTINCTIVE COMPETENCIES ARISE FROM
      • ----RESOURCES
      • ----CAPABILITIES
    • STRATEGY, RESOURCES, CAPABILITIES AND COMPETENCIES RESOURCES DISTINCTIVE COMPETEN- -CIES CAPABILITIES STRATEGIES COMPETITIVE ADVANTAGE SUPERIOR PROFITA- -BILITY
    • RESOURCES:
      • CAPITAL OR FINANCIAL, PHYSICAL, SOCIAL OR HUMAN, TECHNOLOGICAL AND ORGANIZATIONAL FACTOR ENDOWMENTS
      • ------ FIRM SPECIFIC AND DIFFICULT TO IMITATE
      • ------VALUABLE LEAD TO DISTINCTIVE COMPETENCY
      • AND CREATES STRONG DEMAND
      • TANGIBLE RESOURCES : Land, buildings, plant, equipment, inventory and money
      • INTANGIBLE RESOURCES : Brand names, reputation of the company, knowledge gained by employee through experience & intellectual property of the company including patents, copy rights and trade marks
      • EX: Polaroid instant film processing – a valuable resource which vanished with the invention of DIGITAL PHOTOGRAPHY
    • CAPABILITIES:
      • FIRM’S SKILLS AT COORDINATING ITS RESOURCES AND PUTTING THEM FOR PRODUCTIVE USE
      • PART OF ORGANIZATION’S RULES, ROUTINES, PROCEDURES
      • THE PRODUCT OF ORGANIZATION’S STRUCTURE, PROCESSES, AND CONTROL SYSTEMS
      • DEPENDS ON THE CULTURAL NORMS AND VALUES
      • INTANGIBLE
      • FOR DISTINCTIVE COMPETENCY A FIRM CAN HAVE
      • ---A FIRM SPECIFIC AND VALUABLE RESOURCE AND THE CAPABILITIES NECESSARY TO TAKE ADVANTAGE OF THAT RESOURCE ( POLAROID)
      • --- A FIRM SPECIFIC CAPABILITY TO MANAGE RESOURCES(NUCOR)
      • A COMPANY’S DISTINCTIVE COMPETENCY IS STRONGEST WHEN IT POSESSES FIRM SPECIFIC & VALUABLE RESOURCES AND FIRM SPECIFIC CAPABILITIES TO MANAGE THE RESOURCES
    • COMPETITIVE ADVANTAGE AND VALUE CREATION
      • PROFITABILITY OF THE COMPANY DEPENDS ON:
      • THE AMOUNT OF VALUE CUSTOMER PLACES
      • ON THE COMPANY’S PRODUCTS
      • THE PRICE THAT A COMPANY CHARGES FOR
      • ITS PRODUCTS
      • THE COSTS OF CREATING THAT VALUE
    • VALUE CREATION:
      • V V –Value to consumer
      • P --Price
      • P C –Cost of Production
      • V – P…Consumer surplus
      • C P –C ..Profit Margin
      • V –C ..Value Created
      V-P P-C C
    • ROOTS OF COMPETITIVE ADVANTAGE RESOURCES DISTINCTIVE COMPETEN- -CIES CAPABILITIES SUPERIOR FACTORS VALUE CREATION SUPERIOR PROFITA- -BILITY DIFFEREN- CIATION LOW COST
    • THE DURABILITY OF COMPETITIVE ADVANTAGE*
      • BARRIERS TO IMITATION
      • CAPABILITY OF THE COMPETITORS
      • DYNAMISM OF THE INDUSTRY ENVIRONMENT.
    • BARRIERS TO IMITATION: ARE FACTORS THAT MAKE IT DIFFICULT FOR A COMPETITOR TO COPY A COMPANY’S DISTINCTIVE COMPETENCIES
      • IMITATING RESOURCES:
      • TANGIBLE RESOURCES LIKE FIRM SPECIFIC AND VALUABLE TANGIBLE RESOURCES –VISIBLE TO ALL COMPETITORS
      • INTANGIBLE RESOURCES LIKE BRAND NAME, MARKETING AND TECHNOLOGICAL KNOW HOW , PATENTS. INVENTIONS AROUND PATENTS CAN BE DONE
      • IMITATING CAPABILITIES:
      • IMITATING THE CAPABILITIES IS DIFFICULT
    • CAPABILITY OF COMPETITORS :
      • STRATEGIC COMMITMENT:
      • IMITATION BECOMES DIFFICULT DUE TO STRATEGIC COMMITMENT OF THE COMPETITORS
      • ABSORPTIVE CAPACITY:
      • ABILITY OF THE ENTERPRISE TO IDENTIFY,VALUE, ASSIMILATE AND USE NEW KNOWLEDGE
      • Ex: TOYOTA’S LEAN PRODUCTION SYSTEM COULD NOT BE IMITATED BY GENERAL MOTORS DUE TO INTERNAL INERTIA
    • INDUSTRY DYNAMISM:
      • THE MOST DYNAMIC INDUSTRIES HAVING HIGH RATE OF PRODUCT INNOVATION
      • RAPID RATE OF INNOVATION MEANS SHORTENING OF THE PRODUCT LIFE CYCLES AND THE COMPETITIVE ADVANTAGE IS FLEETING
      • Ex: HIGH DEGREE OF INNOVATION IN PERSONAL
      • COMPUTER CREATED A TURBULENT
      • ENVIRONMENT. APPLE COMPUTER LOST TO
      • IBM , IBM HAS LOST TO COMPAQ . COMPAQ
      • HAS LOST TO DELL
    • AVOIDING FAILURE & SUSTAINING COMPETITIVE ADVANTAGE
      • INERTIA: Companies find it difficult to change their strategies and structures to adapt to the changing competitive conditions
      • Capabilities are difficult to change like procedures and processes
      • PRIOR STRATEGIC COMMITMENTS
      • THE ICARUS PARADOX
    • Rising and Falling Companies
      • CRAFTSMAN: Texas Instruments & Digital Equipment corporation Engineering Excellence & ignored the market realities
      • BUILDERS: ITT & Gulf Western –enchanted by Diversification beyond the Profitable limit
      • PIONEER: Wang Labs– Brilliant innovator ended up with novel and useless innovations
      • SALESMAN: P&G , Chrysler Marketing ability to sell anything– Ignored product Development and manufacturing excellence---Inferior Products
    • STEPS TO AVOID FAILURE
      • FOCUS ON THE BUILDING BLOCKS OF COMPETITIVE ADVANTAGE
      • INSTITUTE CONTINUOUS IMPROVEMENT AND LEARNING
      • TRACK BEST INDUSTRIAL PRACTICE AND USE BENCH MARKING
      • THE ROLE OF LUCK
    • Assignment on Module -2 --To be submitted by 17 th Jan 2011
      • Taking the example of any company/ organization describe its Resources, Capabilities and by adopting the suitable strategies how it’s competitive advantage got affected ?