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Exam movies to watch<br />Internal Affairs 2 –DVD will be provided for personal view.<br />The ‘CASINO’ Martin Sorcese’s film-staring Rober De Niro, Joe Pesci & Sharon Stone – will be provided.<br />
Organizational Strategy <br />3 steps of Strategy –making process-to produce sustainable competitive advantage<br />Assess need for strategic change<br />Conduct Situational Analysis<br />Choose strategic Alternatives<br />Providing better value for customers than competitors can<br />
Sustainable competitive advantage concept<br />Firm use resources to create and sustain competitive advantage-to provide greater value to customer<br />Your competitive advantage becomes sustainable when competitors cannot duplicate the benefits it provides<br />
Elements needed in achieving sustainable competitive advantage<br />Firm’s resources must be valuable (capable of improving efficiency and effectiveness) people,things in your company,product or services<br />It must be rare/unique resources (not own by anyone)<br />Imperfectly imitable (extremely costly or difficult to duplicate)<br />No substitutable- competitors cannot substitute other resource to produce similar value.<br />
Next you need a strategy<br />But before you develop a strategy you first need to understand the process of making one.<br />There are 3 steps in making a strategy <br />
3 steps of the strategy making process<br />Assess need for strategic change<br />Conduct a situational analysis<br />Choose strategic alternatives<br />
Assessing the need<br />Decide on what the firm/the company /the organization needs<br />
Situational Analysis<br />Basically it’s a SWOT analysis<br />Assessment of the strengths and weaknesses in an organization and the opportunities and threats in its external environment<br />
Choosing strategic Alternatives<br />Choose strategic alternative that will help companies to maintain a sustainable competitive advantage<br />competitors cannot duplicate the benefits you provides<br />
Practice Being A Manager<br />Organizational strategy is aimed at achieving sustainable competitive advantage over rivals in a particular market. This exercise will offer you the opportunity to consider how companies in the restaurant industry might develop a strategy and attempt to gain sustainable competitive advantage. <br />
Step 1-Develop a concept for a new restaurant business<br />Get into groups of 6.<br />You may choose to develop your concept as local, regional or national company-but it must be opened locally<br />You must include 1) name of your restaurant/chain 2) description of your menu, layout and other distinguishing features c) likely direct competitors of your new concept<br />Present your concept informally 2 minutes<br />
Step 2 others be the judge<br />Each teams goal is to achieve “Most likely to Succeed” concept.<br />Other teams should look into and apply the Sustainable Competitive Advantage<br />Other teams evaluate and must give <br /> comment<br />competitors cannot duplicate the benefits you provides<br />
Q&A<br />What are the challenges of achieving sustainable competitive advantage in the restaurant business?-what factors that determine-locally<br />Do you think restaurant chains have a built-in sustainable competitive advantage over local competition in your area?-what is the source then?<br />
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