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SM4.pptx

  1. 1. SM-4 Unit-1 The Curious Case of Core Competency
  2. 2. The Amir Khan Phenomenon
  3. 3. But What Happened To LSC ????
  4. 4. The Kodak Story : Share Moments Share Life
  5. 5. The Kodak Story • Kodak was founded in the late 1880s, became a giant in the photography industry in the 1970s and filed for bankruptcy in 2012. • For almost a hundred years, Kodak was at the forefront of photography with dozens of innovations and inventions, making this art accessible to the consumer.
  6. 6. The Kodak Story 1975 — Steve Sasson, an engineer at Kodak invented the digital camera. 1976 — Kodak became so dominant, they practically pushed their competitors off the market – Cameras: 85% market share, Film: 90% market share 1981 — Sales top $10 billion. The late 1980s — The rise of digital photography with analogue cameras sales decreasing and digital camera sales increasing. 1984 — Customers switched from Kodak to Fuji because the Japanese colour film was 20% cheaper than Kodak’s. 1991- Kodak’s first digital camera. 1991–2011- Kodak released various digital products, but sales kept falling. 2012 — Kodak filed for bankruptcy
  7. 7. Good Old Days !!!
  8. 8. The Kodak Story …. • The Industry’s Turning Point — Phase 1 — Photography Going Digital • The Industry’s Turning Point — Phase 2 — Photography Going from Digital to Social •
  9. 9. The Kodak Story… • Many years before Facebook, Kodak made a surprise business move and acquired a photo-sharing site called Ofoto in 2001. Unfortunately, instead of going the Instagram way, Kodak used Ofoto to try to get more people to print digital images. • In 2012, when Kodak was filing for bankruptcy, Facebook was acquiring Instagram, the new hot photo-sharing social network for $1 billion.
  10. 10. The Kodak Story…. • What you can learn from Kodak’s demise: • Transform the way you view strategy, business models and innovation management; • Be prepared to shift from protecting your company’s competitive advantages to making change radical and revolutionary; • To avoid complacency ensure that your innovators have a voice with enough volume to be heard (and listened to) at the top; • Adopt agility as an organisational strategy for development.
  11. 11. So…. Revisiting The Concept of Core Competency A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace" and therefore are the foundation of companies' competitiveness.
  12. 12. Four Elements of Core Competencies The Core Competence Model focuses on a combination of specific, collaborative, integrated and applied knowledge, skills and attitude.
  13. 13. Three Conditions for qualifying as CC #1 It Should Provide superior value or benefits to the consumer #2 It should be difficult for competitor to replicate or imitate it #3 It should be rare
  14. 14. Think and Explain Apple : Meta : Walmart : Uber : Byju’s : Domino’s :
  15. 15. What Do You Think ? ( Founded in 1903)
  16. 16. In India
  17. 17. • In 1903, out of a small shed in Milwaukee, Wisconsin, four young men lit a cultural wildfire that would grow and spread across geographies and generations. • Their innovation and imagination for what was possible on two wheels sparked a transportation revolution and lifestyle that would make Harley- Davidson the most desirable motorcycle brand in the world. • Today, we continue to define motorcycle culture and lifestyle, evoking soul-stirring emotion reflected in every product and experience we deliver - like we have for well over a century and will for generations to come.
  18. 18. On A Mission OUR MISSION More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul OUR VISION Building our legend and leading our industry through innovation, evolution and emotion
  19. 19. The Strategic Plan – The Hardwire • The Hardwire is Harley-Davidson’s 2021-2025 strategic plan guided by our mission and vision. • Our plan is targeting long-term profitable growth through focused efforts that extend and strengthen our brand and drive value for all stakeholders. • The Hardwire is designed to enhance the desirability of Harley- Davidson and fuel our unique lifestyle brand. Our efforts will unlock the potential of the most important products, segments and geographies. • This includes growth in our complementary businesses and selective expansion into segments where we have a path to leadership.
  20. 20. Culture • OUR CULTURE: H-D#1 • We are redefining our culture to reignite the company’s soul and spirit. • We are calling our cultural journey “H-D#1” represented by our recognizable #1 logo, introduced in 1969 to celebrate a National Racing Championship. • The #1 logo is uniquely ours - an iconic symbol of winning and the hard work it takes to get there. • Our employees and dealers are rallying around ten H-D#1 leadership principles to become a winning, high-performing company
  21. 21. THE H-D#1 LEADERSHIP PRINCIPLES • Communication - Communicate with purpose, structure, facts and inspiration • Agility - Accelerate, innovate and thrive in a rapidly changing environment • Impact - Focus on impact, not process, and be outcome driven • Simplicity - Pursue the simplest path to achieve each outcome • Speed - Don’t let perfection get in the way of process and pace • Culture - Be fair, honest, positive and creative. Strive to win and have fun. • Courage -Take risks and go against the norm • Judgment -Think strategically and make informed decisions • Focus - Focus on a short list of meaningful opportunities that build desirability • Lean - Maximize impact with limited resources
  22. 22. Core Competencies Quality & Styling Innovation Resource from Suppliers ,Employees, Management Company Culture Evolution Emotional Connect with Product R&D
  23. 23. Exercise – The VRIO Framework
  24. 24. Undertake A Vrio Analysis For IKEA in India
  25. 25. Real Home Story….
  26. 26. The Bigger Story
  27. 27. To Conclude …….The Curious Case • It’s difficult to acquire a core competence. • Even more difficult to identify the mix that leads to CC • But once identified ……. • It is the cause of competitive advantage • So Core Competence should be at the heart of Strategy • However to make it a source of Sustained Competitive Strategy , organizations need also to be agile, improving, innovating, take appropriate risks or in short be learning organizations.

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