What is strategy
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The document discusses Michael Porter's views on operational effectiveness versus strategy. It notes that while operational effectiveness focuses on improving processes, strategy involves choosing a unique set of activities to deliver value to customers. It provides examples of companies like Southwest Airlines and IKEA that have established strong strategic positions. Strategic positions can be based on customer needs, products/services, or customer access. The document emphasizes that strategy is about combining activities in a way that locks out imitation and creates a sustainable competitive advantage.
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This document provides an overview of strategy and its importance. It discusses what strategy means, why it is important for organizations to have a strategy, and key elements of developing a successful strategy. The main points are:
1) Strategy refers to the competitive actions and approaches that managers use to run a company and achieve its goals. It answers the question of "how" the company will reach its objectives.
2) Developing a strategy that leads to sustainable competitive advantages is crucial for above-average profitability. Successful strategies differentiate the company's offerings, serve customer needs better than competitors, or leverage unique resources.
3) Key elements of strong strategies include appealing to customers in a unique way to stand out from rivals
Porter's generic strategies
Michael Porter developed three generic strategies for competitive advantage in 1979: cost leadership, differentiation, and focus. Cost leadership involves having the lowest costs in an industry for a given level of quality. Differentiation creates unique attributes that are valued by customers over competitors' offerings. Focus involves targeting a narrow customer segment and achieving either cost advantages or differentiation for that segment. The strategies aim to leverage a firm's strengths to gain competitive advantage through lowering costs, differentiating products, or specializing in a niche.
Porter Prize Presentation
The document discusses the Porter Prize organized by the Institute for Competitiveness, India. The prize recognizes strategic acumen of Indian companies. It focuses on companies that create value and competitive advantage through strategies like capitalizing on industry dynamics, segmenting strategically, leveraging unique activities, exploiting tradeoffs, and creating shared value. The prize is meant to promote strategic thinking among Indian businesses.
Strategy by idrees waris IUGC
The document discusses the concepts of strategy, operational effectiveness, and competitive advantage. It argues that strategy involves doing things differently than competitors to deliver unique value through a set of carefully chosen activities. This requires strategic positioning based on variety, customer needs, or access. A sustainable strategic position relies on trade-offs that protect the position from competitors. Fit across complementary activities is important for achieving a sustainable competitive advantage. Growing in ways consistent with the original strategy helps companies maintain their uniqueness.
Managing Markerting Processes - Seminar 2
This document provides an overview of seminar 2, which focuses on aligning strategy and marketing planning processes. It discusses key concepts like an organization's mission, values, vision, generic strategies, and core competencies. The seminar includes a guest speaker from Loadimpact.com and an assignment where students analyze Loadimpact's mission statement, strategy, and recent marketing activities to evaluate how well its actions align with its stated goals and values.
The new super competitors
This document summarizes an article from strategy+business that discusses the rise of "supercompetitors" - companies that have fundamentally reshaped their industries through their distinctive capabilities. It provides examples of well-known supercompetitors like Amazon, Apple, Starbucks, IKEA, and others. The document asserts that these companies' success is based on having a few highly scalable and mutually reinforcing core capabilities, rather than on size, assets, or short-term profits. It argues that as traditional sources of competitive advantage diminish, the ability to build and leverage distinctive capabilities will determine which companies can gain long-term influence in their industries.
The new super competitors
This document summarizes an article from strategy+business that discusses the rise of "supercompetitors" - companies that have fundamentally reshaped their industries through their distinctive capabilities. It provides examples of well-known supercompetitors like Amazon, Apple, Starbucks, IKEA, and others. The document asserts that these companies' success is based on having a few highly scalable and mutually reinforcing core capabilities, rather than on size, assets, or short-term profits. It argues that as traditional sources of competitive advantage diminish, the ability to build and leverage distinctive capabilities will determine which companies can gain long-term influence in their industries.
Media Management Module 1 Strategy teigland jan24
Slides from my third lecture in the Strategy module in the 2011 Media Management Course at Stockholm School of Economics and the Royal Institute of Technology. Here is more information on the course: http://nordicworlds.net/2011/01/21/strategy-course-focuses-on-virtual-worlds-and-gaming-industries/.
Grow beyond entrepreneurship ; Become a leader
This document discusses key topics for business leaders to consider when developing strategies, including how to create an environment that drives innovation, analyzing future opportunities, and gaining a competitive advantage. It emphasizes understanding customers, competitors, and industry trends to formulate a strategy and outlines frameworks like PESTEL analysis, Porter's five forces, and the BCG matrix to evaluate the business environment and portfolio. The role of the leader is to communicate vision, motivate teams, set goals, and ensure outstanding results through strategic planning.
Media Management 2011-Strategy Module - Jan 21_2
Slides from my second lecture in the Strategy module in the 2011 Media Management Course at Stockholm School of Economics and the Royal Institute of Technology. here is more information on the course: http://nordicworlds.net/2011/01/21/strategy-course-focuses-on-virtual-worlds-and-gaming-industries/
Strategies for international business.pptx
This document discusses strategies for international business. It covers several topics:
1. Industry structure and how it evolves due to competitors, policies, preferences and technology. Disruptive innovations can accelerate change.
2. Approaches to value creation including cost leadership and differentiation. The value chain is described as the set of activities a company uses to create value.
3. Managing the value chain involves configuration, such as concentrating all activities in one location versus dispersing them globally, and coordination between activities.
4. Global integration and local responsiveness place pressures on strategy. Integration aims to combine parts into a standardized whole while responsiveness disaggregates to local needs.
Session 2 Strat 392 Sec 4 Key Slides.pptx
The document discusses key concepts in business strategy, including defining strategy as "a dynamic plan to gain and sustain competitive advantage in the marketplace." It outlines the strategic management process of making choices around which markets to compete in, unique value proposition, resources and capabilities, and barriers to imitation. Examples are provided of different capabilities that can confer competitive advantage, such as research and development or production technology. The document also discusses evaluating strategies based on whether competitors can easily imitate them.
Mmi strategy intro
This document provides an introduction to an course on managing strategy. The course aims to teach students how to perform situation analyses, decide on strategic positions for companies, make strategic choices, and develop explicit strategic plans. It defines strategy as a long-term plan of action to achieve goals and notes that the essence is choosing what not to do. It also discusses flawed concepts of strategy and outlines the structure of the course.
Tools for blue ocean strategy
Red ocean strategy involves competing in existing market space against competitors, while blue ocean strategy creates new market space without competition. Key tools for blue ocean strategy include the strategy canvas, which visually captures current and future strategic positioning; the 4 Actions framework for reconstructing buyer value; and the ERRC grid for eliminating/reducing and raising/creating factors. Fair process builds execution into strategy through engagement, explanation, and clarity of expectations.
274-Article Text-524-1-10-20160618.pdf
This document summarizes a case study on Prima Sakti, an Indonesian manufacturing company established in 1993. Over more than two decades, Prima Sakti has grown from a single-machine plastic parts producer to a complex company with over 55 machines across four product lines (plastic injection, metal stamping, mold making, and metal plating). The study examines how Prima Sakti developed new products and markets to sustain its competitive advantage through cost leadership and differentiation strategies. It finds that Prima Sakti expanded its product portfolio and customer base, integrating a made-to-order and made-to-stock system to maximize capacity utilization while maintaining low costs.
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What is strategy
- 1. Michael E. Porter Harvard Business School
- 2. Operational effectiveness OE :practices, reducing defects, developing products faster STRATEGY:different activites, different ways
- 3. “A company can outperform rivals only if it can establish a difference that it can preserve.” Michael Porter, What is Strategy? With OE staying ahead of rivals gets harder and harder
- 4. “Competitive Strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.” Michael Porter, What is Strategy?
- 5. SouthWest airlines IKEA
- 6. Strategic positions can be based on: Customers’ needs Company’s products or services Way of Accessing Customers
- 7. Choosing a unique position, does not guarantee a sustainable advantage. Imitation –STRADDLING Continental Airlines
- 8. Occurs when activities are in compatible Continental Airlines Trade-offs create and limit what company offers. Honda- Civic, Toyota- Corolla positive Trade-offs Neutrogena
- 9. “Strategy is about combining activities” Michael Porter, What is Strategy? Fit locks out imitators by creating a chain as strong as its strongest link What is southwest's core competence? One activities cost is lowered by other
- 11. The growth trap: desire to grow blurs strategic position Maytag Corp: washers and dryers Neutrogena :mass merchandising ,variety of products Profitable growth: distinctive
Editor's Notes
- Father of modern strategy field
- Strategy positioning means performing diff activities from rivals or performing similar activities in diff ways
- It must deliver greater value to customers or create greater value at a lower cost or do both.Over a exteded period of time OE becomes harder and harder ,diffusion of best practices.competitors can quickly imitate manage ment techniques ,input improvements,and superior way of meeting customer needsInneficieny is out sourced, rivals out source to same,immetate one other in quality,cycle times, supplier partnership,strategiescoverege and competition becomew a series of racesdown identical path that no one can win
- Exchange that occurs as a compromise
- Travel agents
- Profitable growth: grow faster and profitable by penetrating needs and necessities where it is distinctive than by slugging it out in potential higher growth arenas in which it lacks uniqness