This document discusses strategic management and strategic planning processes. It begins by defining key terms like strategic management, strategy, and business models. It then outlines the six steps in the strategic management process: 1) identifying the organization's mission and goals, 2) external analysis, 3) internal analysis, 4) formulating strategies, 5) implementing strategies, and 6) evaluating results. It also describes three major corporate strategies - growth, stability, and renewal - and explains types of growth strategies like concentration, vertical/horizontal integration, and diversification. The BCG matrix and Porter's five forces model are introduced as tools for managing corporate strategies and assessing competitive advantage.
Leadership theories: Advantages and LimitationsRashmi Pandey
Theories related to leadership. It will provide you an overview about different theories of leadership present in the world. You can choose and take a move forward in your life based in these theories. This is an important topic in Human resource management in management course.
The Slideshow discussed Indian Companies Act 2013. It talks about Meaning of a company, kinds of companies, formation of a company, memorandum and articles of association, prospectus - contents and types, company directors and their appointment, removal, powers and duties, meetings of the board, winding up of a company.
Business Portfolio Analysis is an organisational strategy formulation technique that is based on the philosophy that Organisations should develop strategy..... much as they handle investment portfolios..
Organizational Behavior: Learning and its theoriesShreya Bhargava
Presentation for Management students to understand the basic concept of learning, its theories, cycle and how to understand and change employee undesirable behavior
Walton’s model of third party peace making team work group OD interventions ...manumelwin
Intermediaries (or "third parties") are people, organizations, or nations who enter a conflict to try to help the parties de-escalate or resolve it.
Walton has presented a statement of theory and practice for third-party peace making interventions that is important in its own right and important for its role in organization development.
Interventions are necessary for an organization to apply for effectiveness in functioning of an organization. this presentation is about part of interventions known as structural intervention.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
Kurt Lewin’s three stage model - Organizational Change and Development - Man...manumelwin
One of the cornerstone models for understanding organizational change was developed by Kurt Lewin back in the 1940s, and still holds true today.
His model is known as Unfreeze – Change – Refreeze, refers to the three-stage process of change he describes.
Kurt Lewin, a physicist as well as social scientist, explained organizational change using the analogy of changing the shape of a block of ice.
Leadership theories: Advantages and LimitationsRashmi Pandey
Theories related to leadership. It will provide you an overview about different theories of leadership present in the world. You can choose and take a move forward in your life based in these theories. This is an important topic in Human resource management in management course.
The Slideshow discussed Indian Companies Act 2013. It talks about Meaning of a company, kinds of companies, formation of a company, memorandum and articles of association, prospectus - contents and types, company directors and their appointment, removal, powers and duties, meetings of the board, winding up of a company.
Business Portfolio Analysis is an organisational strategy formulation technique that is based on the philosophy that Organisations should develop strategy..... much as they handle investment portfolios..
Organizational Behavior: Learning and its theoriesShreya Bhargava
Presentation for Management students to understand the basic concept of learning, its theories, cycle and how to understand and change employee undesirable behavior
Walton’s model of third party peace making team work group OD interventions ...manumelwin
Intermediaries (or "third parties") are people, organizations, or nations who enter a conflict to try to help the parties de-escalate or resolve it.
Walton has presented a statement of theory and practice for third-party peace making interventions that is important in its own right and important for its role in organization development.
Interventions are necessary for an organization to apply for effectiveness in functioning of an organization. this presentation is about part of interventions known as structural intervention.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
Kurt Lewin’s three stage model - Organizational Change and Development - Man...manumelwin
One of the cornerstone models for understanding organizational change was developed by Kurt Lewin back in the 1940s, and still holds true today.
His model is known as Unfreeze – Change – Refreeze, refers to the three-stage process of change he describes.
Kurt Lewin, a physicist as well as social scientist, explained organizational change using the analogy of changing the shape of a block of ice.
BUSI 4940.001 Summer 5 Week 1 Class 1 Welcome.docxhumphrieskalyn
BUSI 4940.001 Summer 5 Week 1
Class 1: Welcome to our class!
1
A tough, challenging course
But so is management…and LIFE!
Identify and address strategic issues
Ambiguous, complex real-world issues
“Choice”, not solutions and answers
Five broad objectives:
Think – integrate; open; synthesis
Process – organized analysis & argument
Tools - mechanics
Communication – written/verbal
Teams – leverage for benefit; handle diversity
Not everyone wants to get into Management
General Overview
Name
Major
Something interesting -some suggestions----
about your work e.g. “I’m a bungee-jumping cord tester…”
About your family/home e.g. “I have 3 pet iguanas and 1 kangaroo”
About your hobbies/interests e.g. “I invented the internet.”
Syllabus
Blackboard Learn
Clickers – set up/test
CHANNEL 61
I’ve used clickers before
Yes
No
What’s a clicker?
I aspire to a management career
Yes
No
Not sure yet
Definition
A concrete expression of how an organization intends to compete and win in the marketplace
Strategy expressed in terms of
Goals
Product Focus and Market Focus
Value Proposition
Core Activities
What is Strategy?
Note the rising levels of risk, investment, uncertainty of implications, and time-frames as you move down the list below . . .
Choosing a cereal for breakfast
Making a withdrawal at the ATM
Purchasing an iPad
Purchasing a car
Sun-bathing
Getting an education
Being Strategic
They involve major investments
They have long-term implications, often in multiple areas
They often involve high levels of risk/uncertainty
The Nature of Strategic Actions
Remember that any action can be viewed as being strategic, depending on your frame of reference.
In the business context, your challenge is to think like the CEO, President or, General Manager of the organization, not as a VP of a functional area like Finance Marketing, Human Capital, etc. . . . ., and delineate those actions that are truly “strategic” from those that are “functional.”
The Nature of Strategic Actions
https://www.youtube.com/watch?v=Q96pCI8aOQQ
Which of these actions typically involve “strategic” decisions
for an organization?
Altering the products/services offered by the organization
Altering the markets serviced by the organization
Altering the way the organization creates value for its customers
Streamlining customer-service procedures
Increasing the size of the sales-force
Improving payment terms with buyers.
Switching to a different ERP-platform provider
Hiring a new marketing manager
On Being Strategic . . .
Which of these actions typically involve “strategic” decisions
for an organization?
Altering the products/services offered by the organization
Altering the markets serviced by the organization
Altering the way the organization creates value for its customers
Streamlining customer-service procedures
Increasing the size of the sales-force
Improving payment terms with buyers.
Switching to a different ERP ...
Support presentation to the SPIN-UP Training Programme on Entrepreneurial Skills for University Spin-Offs.
SPIN-UP is a cooperation project supported by the European Commission that aims to create an Entrepreneurship Training and Coaching Programme that contributes to the development of Key Entrepreneurial Skills, both technical and behavioural, essential to enable and leverage University Spin-Offs growth.
Download and have access to other training materials in www.spin-up.eu
Support presentation to the SPIN-UP Training Programme on Entrepreneurial Skills for University Spin-Offs.
SPIN-UP is a cooperation project supported by the European Commission that aims to create an Entrepreneurship Training and Coaching Programme that contributes to the development of Key Entrepreneurial Skills, both technical and behavioural, essential to enable and leverage University Spin-Offs growth.
Download and have access to other training materials in www.spin-up.eu
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
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2. Learning OutcomesLearning Outcomes
8.1 Strategic Management8.1 Strategic Management
• Define strategic management, strategy, and business model.Define strategic management, strategy, and business model.
• Give three reasons why strategic management is important.Give three reasons why strategic management is important.
8.28.2 The Strategic Management ProcessThe Strategic Management Process
• Describe the six steps in the strategic management process.Describe the six steps in the strategic management process.
• Define SWOT (strengths, weaknesses, opportunities, andDefine SWOT (strengths, weaknesses, opportunities, and
threats).threats).
3. Learning OutcomesLearning Outcomes
8.3 Corporate Strategies8.3 Corporate Strategies
• Describe the three major types of corporateDescribe the three major types of corporate
strategies.strategies.
• Explain the BCG matrix and how it’s used to manageExplain the BCG matrix and how it’s used to manage
corporate strategies.corporate strategies.
8.4 Competitive Strategies8.4 Competitive Strategies
• Describe the role of competitive advantage.Describe the role of competitive advantage.
• Explain Porter’s five forces model.Explain Porter’s five forces model.
• Describe Porter’s three competitive strategies.Describe Porter’s three competitive strategies.
4. Learning OutcomesLearning Outcomes
8.5 Current Strategic Management Issue8.5 Current Strategic Management Issue
• Discuss what strategies organizations might use toDiscuss what strategies organizations might use to
become more customer oriented and to be morebecome more customer oriented and to be more
innovative.innovative.
5. Strategic ManagementStrategic Management
• Effective strategies result in high organizationalEffective strategies result in high organizational
performanceperformance
What managers do to develop an organization’sWhat managers do to develop an organization’s
strategiesstrategies
• StrategiesStrategies
The decisions and actions that determine the long-run/sustainedThe decisions and actions that determine the long-run/sustained
performance of an organization.performance of an organization.
• Business ModelBusiness Model
Is a strategic design for how a company intends to profit from itsIs a strategic design for how a company intends to profit from its
strategies, work processes, and work activities.strategies, work processes, and work activities.
Focuses on two things:Focuses on two things:
Whether customers will value what the company is providing.Whether customers will value what the company is providing.
Whether the company can make any money doing that.Whether the company can make any money doing that.
6. Why Is Strategic ManagementWhy Is Strategic Management
Important?Important?
1.1. It results in higher organizational performance.It results in higher organizational performance.
2.2. It requires that managers examine and adaptIt requires that managers examine and adapt
to business environment changes.to business environment changes.
3.3. It coordinates diverse organizational units,It coordinates diverse organizational units,
helping them focus on organizational goals.helping them focus on organizational goals.
8. Strategic Management ProcessStrategic Management Process
• Step 1: Identifying the organization’s currentStep 1: Identifying the organization’s current
mission, goals, and strategiesmission, goals, and strategies
Mission:Mission: a statement of the purpose of ana statement of the purpose of an
organizationorganization
The scope of its products and servicesThe scope of its products and services
Goals:Goals: the foundation for further planningthe foundation for further planning
Measurable performance targetsMeasurable performance targets
• Step 2: Doing an external analysisStep 2: Doing an external analysis
The environmental scanning of specific and generalThe environmental scanning of specific and general
environmentsenvironments
Focuses on identifying opportunities and threatsFocuses on identifying opportunities and threats
9. Strategic Management ProcessStrategic Management Process
• Step 3: Doing an internal analysisStep 3: Doing an internal analysis
Assessing organizationalAssessing organizational resources, capabilities, andresources, capabilities, and
activitiesactivities::
Strengths create value for the customer and strengthen theStrengths create value for the customer and strengthen the
competitive position of the firm.competitive position of the firm.
Weaknesses can place the firm at a competitive disadvantage.Weaknesses can place the firm at a competitive disadvantage.
Analyzing financial and physical assets is fairly easy, butAnalyzing financial and physical assets is fairly easy, but
assessing intangible assets (employee’s skills, culture, corporateassessing intangible assets (employee’s skills, culture, corporate
reputation, and so forth) isn’t as easy.reputation, and so forth) isn’t as easy.
• Steps 2 and 3 combined are called a SWOT analysis.Steps 2 and 3 combined are called a SWOT analysis.
(Strengths, Weaknesses, Opportunities, and Threats)(Strengths, Weaknesses, Opportunities, and Threats)
10. Strategic Management ProcessStrategic Management Process
• Step 4: Formulating strategiesStep 4: Formulating strategies
Develop and evaluate strategic alternativesDevelop and evaluate strategic alternatives
Select appropriate strategies for all levels in theSelect appropriate strategies for all levels in the
organization that provide relative advantage overorganization that provide relative advantage over
competitorscompetitors
Match organizational strengths to environmentalMatch organizational strengths to environmental
opportunitiesopportunities
Correct weaknesses and guard against threatsCorrect weaknesses and guard against threats
11. Strategic Management ProcessStrategic Management Process
• Step 5: Implementing strategiesStep 5: Implementing strategies
Implementation:Implementation: effectively fitting organizationaleffectively fitting organizational
structure and activities to the environment.structure and activities to the environment.
The environment dictates the chosen strategy;The environment dictates the chosen strategy;
effective strategy implementation requires aneffective strategy implementation requires an
organizational structure matched to its requirements.organizational structure matched to its requirements.
• Step 6: Evaluating resultsStep 6: Evaluating results
How effective have strategies been?How effective have strategies been?
What adjustments, if any, are necessary?What adjustments, if any, are necessary?
13. Types of OrganizationalTypes of Organizational
StrategiesStrategies
• Corporate StrategiesCorporate Strategies
Top management’s overall plan for the entireTop management’s overall plan for the entire
organization and its strategic business unitsorganization and its strategic business units
• Types of Corporate StrategiesTypes of Corporate Strategies
GrowthGrowth: expansion into new products and markets: expansion into new products and markets
StabilityStability: maintenance of the status quo: maintenance of the status quo
RenewalRenewal: examination of organizational weaknesses: examination of organizational weaknesses
that are leading to performance declinesthat are leading to performance declines
14. Corporate StrategiesCorporate Strategies
• Growth StrategyGrowth Strategy
Seeking to increase the organization’s business bySeeking to increase the organization’s business by
expansion into new products and markets.expansion into new products and markets.
• Types of Growth StrategiesTypes of Growth Strategies
a.a.ConcentrationConcentration
b.b.Vertical integrationVertical integration
c.c. Horizontal integrationHorizontal integration
d.d.DiversificationDiversification
15. Corporate StrategiesCorporate Strategies
• ConcentrationConcentration
Focusing on aFocusing on a primary line of businessprimary line of business and increasingand increasing
the number of products offered or markets servedthe number of products offered or markets served
(Apple, Google)(Apple, Google)
• Vertical IntegrationVertical Integration
Backward vertical integrationBackward vertical integration: attempting to gain: attempting to gain
control of inputs (become a self-supplier).control of inputs (become a self-supplier).
Forward vertical integrationForward vertical integration: attempting to gain: attempting to gain
control of output through control of the distributioncontrol of output through control of the distribution
channel or provide customer service activitieschannel or provide customer service activities
(eliminating intermediaries).(eliminating intermediaries).
16. Corporate StrategiesCorporate Strategies
• Horizontal IntegrationHorizontal Integration
Combining operations with another competitorCombining operations with another competitor inin
the same industry to increase competitive strengthsthe same industry to increase competitive strengths
and lower competition among industry rivals (M&A).and lower competition among industry rivals (M&A).
• Related DiversificationRelated Diversification
Expanding by combining with firms in different, butExpanding by combining with firms in different, but
related industries that are “strategic fits.”related industries that are “strategic fits.”
• Unrelated DiversificationUnrelated Diversification
Growing by combining with firms in unrelatedGrowing by combining with firms in unrelated
industries where higher financial returns are possible.industries where higher financial returns are possible.
17. Corporate StrategiesCorporate Strategies
• Stability StrategyStability Strategy
A strategy that seeks to maintain the status quo to dealA strategy that seeks to maintain the status quo to deal
with;with;
thethe uncertainty of a dynamic environmentuncertainty of a dynamic environment, when, when
the industry is experiencingthe industry is experiencing slow- or no-growthslow- or no-growth
conditionsconditions, or, or
if the owners of the firm elect not to grow for personalif the owners of the firm elect not to grow for personal
reasons.reasons.
18. Corporate StrategiesCorporate Strategies
• Renewal StrategiesRenewal Strategies
Developing strategies toDeveloping strategies to counter organizationcounter organization
weaknessesweaknesses that are leading to performance declines.that are leading to performance declines.
Retrenchment:Retrenchment: focusing of eliminating non-criticalfocusing of eliminating non-critical
weaknesses and restoring strengths to overcomeweaknesses and restoring strengths to overcome
current performance problems.current performance problems.
Turnaround:Turnaround: addressing critical long-term performanceaddressing critical long-term performance
problems through the use of strong cost eliminationproblems through the use of strong cost elimination
measures and large-scale organizational restructuringmeasures and large-scale organizational restructuring
solutions.solutions.
19. Corporate Portfolio AnalysisCorporate Portfolio Analysis
• Managers manage portfolio (or collection) of businessesManagers manage portfolio (or collection) of businesses
using a corporate portfolio matrix such as the BCGusing a corporate portfolio matrix such as the BCG
Matrix.Matrix.
• BCG MatrixBCG Matrix
Developed by the Boston Consulting GroupDeveloped by the Boston Consulting Group
Considers market share and industry growth rateConsiders market share and industry growth rate
Classifies firms as:Classifies firms as:
Cash cows:Cash cows: low growth rate, high market sharelow growth rate, high market share
Stars:Stars: high growth rate, high market sharehigh growth rate, high market share
Question marks:Question marks: high growth rate, low market sharehigh growth rate, low market share
Dogs:Dogs: low growth rate, low market sharelow growth rate, low market share
21. Competitive StrategiesCompetitive Strategies
• Competitive StrategyCompetitive Strategy
A strategy focused on how an organization willA strategy focused on how an organization will
compete in each of its SBUs (strategic businesscompete in each of its SBUs (strategic business
units).units).
22. The Role of CompetitiveThe Role of Competitive
AdvantageAdvantage
• Competitive AdvantageCompetitive Advantage
An organization’s distinctive competitive edge.An organization’s distinctive competitive edge.
• Quality as a Competitive AdvantageQuality as a Competitive Advantage
Differentiates the firm from its competitors.Differentiates the firm from its competitors.
Can create a sustainable competitive advantage.Can create a sustainable competitive advantage.
Represents the company’s focus on qualityRepresents the company’s focus on quality
management to achieve continuous improvement andmanagement to achieve continuous improvement and
meet customers’ demand for quality.meet customers’ demand for quality.
23. The Role of CompetitiveThe Role of Competitive
Advantage (cont’d)Advantage (cont’d)
• Sustainable Competitive AdvantageSustainable Competitive Advantage
Continuing over time to effectively exploit resourcesContinuing over time to effectively exploit resources
and develop core competencies that enable anand develop core competencies that enable an
organization to keep its edge over its industryorganization to keep its edge over its industry
competitors.competitors.
24. Five Competitive Forces ModelFive Competitive Forces Model
Source: Based on M.E. Porter, Competitive Strategy: Techniques for
Analyzing Industries and Competitors (New York: The Free Press, 1980).
25. Five Competitive ForcesFive Competitive Forces
• Threat of New EntrantsThreat of New Entrants
The ease or difficulty with which new competitors canThe ease or difficulty with which new competitors can
enter an industry.enter an industry.
• Threat of SubstitutesThreat of Substitutes
The extent to which switching costs and brand loyaltyThe extent to which switching costs and brand loyalty
affect the likelihood of customers adopting substitutesaffect the likelihood of customers adopting substitutes
products and services.products and services.
• Bargaining Power of BuyersBargaining Power of Buyers
The degree to which buyers have the market strengthThe degree to which buyers have the market strength
to hold sway over and influence competitors in anto hold sway over and influence competitors in an
industry. (e.g. real estate sector)industry. (e.g. real estate sector)
26. Five Competitive ForcesFive Competitive Forces
• Bargaining Power of SuppliersBargaining Power of Suppliers
The relative number of buyers to suppliers andThe relative number of buyers to suppliers and
threats from substitutes and new entrants affect thethreats from substitutes and new entrants affect the
buyer-supplier relationship.buyer-supplier relationship.
• Current RivalryCurrent Rivalry
Intensity among rivals increases when industryIntensity among rivals increases when industry
growth rates slow, demand falls, and product pricesgrowth rates slow, demand falls, and product prices
descend.descend.
27. Types of Competitive StrategiesTypes of Competitive Strategies
• Cost Leadership StrategyCost Leadership Strategy
Seeking to attain the lowest total overall costs relativeSeeking to attain the lowest total overall costs relative
to other industry competitors.to other industry competitors.
• Differentiation StrategyDifferentiation Strategy
Attempting to create a unique and distinctive productAttempting to create a unique and distinctive product
or service for which customers will pay a premium.or service for which customers will pay a premium.
• Focus StrategyFocus Strategy
Using a cost or differentiation advantage to exploit aUsing a cost or differentiation advantage to exploit a
particular market segment rather a larger market.particular market segment rather a larger market.
28. Innovation StrategiesInnovation Strategies
• Possible EventsPossible Events
Radical breakthroughs in products.Radical breakthroughs in products.
Application of existing technology to new uses.Application of existing technology to new uses.
• Strategic Decisions about InnovationStrategic Decisions about Innovation
Basic researchBasic research
Product developmentProduct development
Process innovationProcess innovation
• First MoverFirst Mover
An organization that brings a product innovation toAn organization that brings a product innovation to
market or use a new process innovationsmarket or use a new process innovations
29. Exhibit 8–7Exhibit 8–7 First-Mover Advantages–DisadvantagesFirst-Mover Advantages–Disadvantages
• AdvantagesAdvantages
Reputation for beingReputation for being
innovative and industryinnovative and industry
leaderleader
Cost and learning benefitsCost and learning benefits
Control over scarceControl over scarce
resources and keepingresources and keeping
competitors from havingcompetitors from having
access to themaccess to them
Opportunity to beginOpportunity to begin
building customerbuilding customer
relationships and customerrelationships and customer
loyaltyloyalty
• DisadvantagesDisadvantages
Uncertainty over exactUncertainty over exact
direction technology anddirection technology and
market will gomarket will go
Risk of competitorsRisk of competitors
imitating innovationsimitating innovations
Financial and strategic risksFinancial and strategic risks
High development costsHigh development costs
Examples of strategic management:
Star Plus aired Saas Bhi Kabhi Bahu Thi – 2000 to 2008, Second example is of Ramayan by Ramanand Sagar on Doordarshan (1987 – 1988)
IPL 20-20 they developed & exploited every aspect of of cricket match, talk show, cheer leaders, brand managers, merchandise, telecasting rights etc
Example of Walmart and Kmart – fighting for market dominance since 1962 – founded the same year, Walmart is world’s largest retailer & Kmartwas the largest retailer to seek bankruptcy protection