This document discusses strategies for strengthening a company's competitive position, including offensive and defensive actions, timing of moves, and scope of operations. It covers topics like building competitive advantages, targeting vulnerable rivals, horizontal mergers, vertical integration, and strategic alliances. The key points are that choosing the right competitive strategies, timing them effectively, and optimizing a firm's scope of operations are crucial for maximizing competitive position. Strategic options include both offensive moves to improve market position and defensive actions to protect advantages.
Based on Kotler-Keller book about Marketing Management; this slides is all about Delivering Value.
The slides contents are:
- DESIGNING & MANAGING INTEGRATED MARKETING CHANNELS
- MANAGING RETAILING, WHOLESALING & LOGISTICS
Strategic Management Slides - Chapter 3 "the External Assessment"Rabia Rajput
For all business assignments, projects, slides and internship please contact me on below email:
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
Based on Kotler-Keller book about Marketing Management; this slides is all about Delivering Value.
The slides contents are:
- DESIGNING & MANAGING INTEGRATED MARKETING CHANNELS
- MANAGING RETAILING, WHOLESALING & LOGISTICS
Strategic Management Slides - Chapter 3 "the External Assessment"Rabia Rajput
For all business assignments, projects, slides and internship please contact me on below email:
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
1
CHAPTER
4
BUSINESS-LEVEL STRATEGY
Chapter 2
The External Environment
Chapter 3
The Internal Organization
Vision
Mission
Chapter 4
Business-Level Strategy
Chapter 5
Competitive Rivalry and Dynamics
Chapter 6
Corporate-Level Strategy
Chapter 7
Merger and Acquisition Strategy
Chapter 8
International Strategy
Chapter 9
Cooperative Strategy
Strategy formulation
Strategic Competitiveness
Above-Average Returns
Chapter 10
Corporate Governance
Chapter 11
Organizational Structure and Controls
Chapter 12
Strategic Leadership
Chapter 13
Strategic Entrepreneurship
Strategy implementation
Analysis
Strategy
Performance
The Strategic Management Process
A-S-P model
Chapter 4:
BUSINESS-LEVEL STRATEGY
Chapter overview:
Defining business-level strategy
Customers: their relationship with business-level strategies
The purpose of a business-level strategy
Types of business-level strategies (link with Value chain and 5 forces)
3
Introduction
Strategy – increasingly important to a firm’s success and concerned with making choices among two or more alternatives. Choices dictated by
External environment
Internal resources, capabilities and core competencies
Examples from gaming industry (King Digital Entertainment vs. EA)
4
Introduction
Business level-strategy – integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets
Generic strategy – a strategy that can be used by any organization competing in any industry
5
Introduction
6
A firm must use a Business Level Strategy
It is not necessary to use all the corporate level strategies, acquisition, restructuring, international…
From the dry cleaner to the multinational corporation – a firm must choose at least one business-level strategy
The business level strategy is the core strategy - the strategy that the firm forms to describe how it intends to compete in the product market
Introduction
7
In terms of customers, when selecting a business-level strategy the firm determines:
who will be served,
what needs those target customers have that it will satisfy, and
how those needs will be satisfied
Customers: Their Relationship with Business-Level Strategies
8
8
Strategic competitiveness results when firm can satisfy customers by using its competitive advantages
Returns earned are the lifeblood of firm
Most successful companies satisfy current customers and/or meet needs of new customers
Customers: Their Relationship with Business-Level Strategies
9
Five components in customer relationships
1. Effectively managing relationships with customers
Deliver superior value
Strong interactive relationships is foundation
2. Reach, richness and affiliation
Access and connection to customers
Depth and detail of two-way flow of information between firm and customer
Facilitating useful interactions with customers – viewing the world from the customer’s eyes
9
...
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2. MAXIMIZING THE POWER
OF A STRATEGY
Making choices that complement
a competitive approach and
maximize the power of strategy
Offensive and
Defensive
Competitive
Actions
Competitive
Dynamics and the
Timing of Strategic
Moves
Scope of
Operations along
the Industry’s
Value Chain
6–2
3. GOING ON THE OFFENSIVE—
STRATEGIC OPTIONS TO IMPROVE
A FIRM’S MARKET POSITION
Strategic Offensive Principles:
●
Focus on relentlessly building competitive advantage
and then converting it into sustainable advantage.
●
Apply resources where rivals are least able to defend
themselves.
●
Employ the element of surprise as opposed to doing
what rivals expect and are prepared for.
●
Display a strong bias for swift, decisive, and
overwhelming actions to overpower rivals.
6–3
4. CHOOSING WHICH RIVALS
TO ATTACK
Best Targets for
Offensive Attacks
Market leaders
that are in
vulnerable
competitive
positions
Runner-up firms
with weaknesses
in areas where
the challenger
is strong
Struggling
enterprises on
the verge of
going under
Small local
and regional
firms with limited
capabilities
6–4
5. BLUE-OCEAN STRATEGY—
A SPECIAL KIND OF OFFENSIVE
The business universe is divided into:
●
An existing market with boundaries and rules in
which rival firms compete for advantage.
●
A “blue ocean” market space, where the industry has
not yet taken shape, with no rivals and wide-open
long-term growth and profit potential for a firm that
can create demand for new types of products.
6–5
6. DEFENSIVE STRATEGIES—
PROTECTING MARKET POSITION
AND COMPETITIVE ADVANTAGE
Purposes of Defensive Strategies
Lower the firm’s risk
of being attacked
Weaken the impact
of an attack
that does occur
Influence challengers
to aim their efforts
at other rivals
6–6
7. TIMING A FIRM’S OFFENSIVE AND
DEFENSIVE STRATEGIC MOVES
Timing’s Importance:
●
Knowing when to make a strategic move is as
crucial as knowing what move to make.
●
Moving first is no guarantee of success or
competitive advantage.
●
The risks of moving first to stake out a monopoly
position must be carefully weighed.
6–7
8. CONDITIONS THAT LEAD TO
FIRST-MOVER ADVANTAGES
When pioneering helps build a firm’s reputation
and creates strong brand loyalty.
When a first mover’s customers will thereafter
face significant switching costs.
When property rights protections thwart rapid
imitation of the initial move.
When an early lead enables movement down
the learning curve ahead of rivals.
When a first mover can set the technical
standard for the industry.
6–8
9. THE POTENTIAL FOR LATE-MOVER
ADVANTAGES OR FIRST-MOVER
DISADVANTAGES
When pioneering is more costly than imitating and
offers negligible experience or learning-curve benefits.
When the products of an innovator are somewhat
primitive and do not live up to buyer expectations.
When rapid market evolution allows fast followers to
leapfrog a first mover’s products with more attractive
next-version products.
When market uncertainties make it difficult to ascertain
what will eventually succeed.
6–9
10. STRENGTHENING A FIRM’S
MARKET POSITION VIA ITS
SCOPE OF OPERATIONS
Defining the Scope of
the Firm’s Operations
Range of its
activities
performed
internally
Breadth of its
product and
service offerings
Extent of its
geographic
market
presence and
its mix of
businesses
Size of its
competitive
footprint on
its market
or industry
6–10
11. HORIZONTAL MERGER AND
ACQUISITION STRATEGIES
Merger
●
Is the combining of two or more firms into a single
corporate entity that often takes on a new name.
Acquisition
●
Is a combination in which one firm, the acquirer,
purchases and absorbs the operations of another
firm, the acquired.
6–11
12. STRATEGIC OJECTIVES FOR
HORIZONTAL MERGERS AND
ACQUISITIONS
Creating a more cost-efficient operation out
of the combined companies.
Expanding the firm’s geographic coverage.
Extending the firm’s business into new
product categories.
Gaining quick access to new technologies or
complementary resources and capabilities.
Leading the convergence of industries whose
boundaries are being blurred by changing
technologies and new market opportunities.
6–12
13. TYPES OF VERTICAL
INTEGRATION STRATEGIES
Vertical Integration
Choices
Full
Integration
Partial
Integration
Tapered
Integration
6–13
14. THE ADVANTAGES OF A
VERTICAL INTEGRATION
STRATEGY
Benefits of a Vertical
Integration Strategy
Add materially
to a firm’s
technological
capabilities
Strengthen
the firm’s
competitive
position
Boost
the firm’s
profitability
6–14
15. INTEGRATING BACKWARD TO ACHIEVE
GREATER COMPETITIVENESS
Integrating Backwards By:
●
●
Achieving same scale economies as outside suppliers—
low-cost based competitive advantage.
Matching or beating suppliers’ production efficiency with no
drop-off in quality—differentiation-based competitive advantage.
Reasons for Integrating Backwards:
●
Reduction of supplier power
●
Reduction in costs of major inputs
●
Assurance of the supply and flow of critical inputs
●
Protection of proprietary know-how
6–15
16. INTEGRATING FORWARD TO ENHANCE
COMPETITIVENESS
Reasons for Integrating Forward:
●
To lower overall costs by increasing channel
activity efficiencies relative to competitors.
●
To increase bargaining power through control
of channel activities.
●
To gain better access to end users.
●
To strengthen and reinforce brand awareness.
●
To increase product differentiation.
6–16
17. FACTORS THAT MAKE AN ALLIANCE
“STRATEGIC”
1. It facilitates achievement of an important business
objective.
2. It helps build, sustain, or enhance a core competence
or competitive advantage.
3. It helps block a competitive threat.
4. It helps remedy an important resource deficiency or
competitive weakness.
5. It increases the bargaining power of alliance members
over suppliers or buyers.
6. It helps open up important new market opportunities.
7. It mitigates a significant risk to a firm’s business.
6–17
18. REASONS FOR ENTERING INTO
STRATEGIC ALLIANCES
When seeking global market leadership:
●
●
Gain inside knowledge about unfamiliar markets and cultures
through alliances with local partners.
●
Enter into critical country markets quickly.
Provide access to valuable skills and competencies
concentrated in particular geographic locations.
When staking out a strong industry position:
●
Establish a stronger beachhead in target industry.
●
Master new technologies and build expertise and competencies.
●
Open up broader opportunities in the target industry.
6–18
19. CAPTURING THE BENEFITS OF
STRATEGIC ALLIANCES
Being sensitive
to cultural
differences
Recognizing that
the alliance must
benefit both sides
Picking a good
partner
Strategic
Alliance Factors
Ensuring both
parties keep their
commitments
Structuring the
decision-making
process for swift
actions
Adjusting the
agreement over
time to fit new
circumstances
6–19
20. STRATEGIC ALLIANCES
VERSUS OUTSOURCING
Key Advantages of Strategic Alliances:
●
The increased ability to exercise control over the
partners’ activities.
●
A greater commitment and willingness of the partners
to make relationship-specific investments as opposed
to arm’s-length outsourcing transactions.
6–20