1) The document provides materials for a business management class including recommended movies to watch, information on organizational strategy and sustainable competitive advantages, and the key elements needed to achieve a sustainable competitive advantage. 2) It outlines the 3 steps in the strategy making process: assessing the need for strategic change, conducting a situational analysis, and choosing strategic alternatives. 3) The document concludes with an exercise where students develop a concept for a new restaurant and present it to be evaluated by others based on its potential for sustainable competitive advantage.

1. IE20403Business ManagementWEEK 4MohdYuszrenYusakMenara 8A

2. Get all related materialshttp://www.slideshare.net/yuszren

3. Exam movies to watchInternal Affairs 2 –DVD will be provided for personal view.The ‘CASINO’ Martin Sorcese’s film-staring Rober De Niro, Joe Pesci & Sharon Stone – will be provided.

4. Organizational Strategy 3 steps of Strategy –making process-to produce sustainable competitive advantageAssess need for strategic changeConduct Situational AnalysisChoose strategic AlternativesProviding better value for customers than competitors can

5. Sustainable competitive advantage conceptFirm use resources to create and sustain competitive advantage-to provide greater value to customerYour competitive advantage becomes sustainable when competitors cannot duplicate the benefits it provides

6. Elements needed in achieving sustainable competitive advantageFirm’s resources must be valuable (capable of improving efficiency and effectiveness) people,things in your company,product or servicesIt must be rare/unique resources (not own by anyone)Imperfectly imitable (extremely costly or difficult to duplicate)No substitutable- competitors cannot substitute other resource to produce similar value.

7. Next you need a strategyBut before you develop a strategy you first need to understand the process of making one.There are 3 steps in making a strategy

8. 3 steps of the strategy making processAssess need for strategic changeConduct a situational analysisChoose strategic alternatives

9. Assessing the needDecide on what the firm/the company /the organization needs

10. Situational AnalysisBasically it’s a SWOT analysisAssessment of the strengths and weaknesses in an organization and the opportunities and threats in its external environment

11. Choosing strategic AlternativesChoose strategic alternative that will help companies to maintain a sustainable competitive advantagecompetitors cannot duplicate the benefits you provides

12. Practice Being A ManagerOrganizational 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.

13. Step 1-Develop a concept for a new restaurant businessGet into groups of 6.You may choose to develop your concept as local, regional or national company-but it must be opened locallyYou 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 conceptPresent your concept informally 2 minutes

14. Step 2 others be the judgeEach teams goal is to achieve “Most likely to Succeed” concept.Other teams should look into and apply the Sustainable Competitive AdvantageOther teams evaluate and must give commentcompetitors cannot duplicate the benefits you provides

15. Q&AWhat are the challenges of achieving sustainable competitive advantage in the restaurant business?-what factors that determine-locallyDo you think restaurant chains have a built-in sustainable competitive advantage over local competition in your area?-what is the source then?