Search results “Product differentiation and cost leadership”
Porter - Strategic Positioning: Cost leadership vs. Differentiation
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Views: 10407 Rutgers Accounting Web
Porter's Generic Strategies
Learn more about Porter's models of strategy here on the tutor2u website: https://www.tutor2u.net/business/reference?q=porter Porter's generic strategies of low-cost and differentiation are introduced and explained in this revision video.
Views: 108644 tutor2u
Cost leadership: When a company sells cheap and makes money
This lesson on Business strategy introduces the idea behind implementing a cost leadership strategy. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo. Cost leadership consists in producing products or providing services that are cheaper than the ones offered by competitor companies. If a company adopts a cost leadership strategy and manages to sustain lower costs than its peers, then it will be successful. Typically, cost leaders will sell at lower prices than their competitors; this way, they are going to win price sensitive customers – the ones looking for a bargain. Selling at lower prices than competitors is a valid idea. However, companies need to find a way to do that. If you want to sell at a lower price, then you have to do something differently than your peers. On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers
Views: 2840 365 Careers
Marketing Strategy| Porter's Generic Strategies in Hindi| Cost leadership,Differentiation and Focus
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Views: 16332 Intellectual Indies
Generic strategies: cost leadership, differentiation, focus (Antonio Ghezzi)
Video related to Polimi Open Knowledge (POK) http://www.pok.polimi.it This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0). http://creativecommons.org/licenses/by-nc-sa/4.0/
Views: 1388 Polimi OpenKnowledge
Competitive Strategies: Cost Leadership vs Differentiation vs Focus Strategy
http://www.woltersworld.com General competitive strategies for businesses. Cost leadership: make things as cheap as possible to pass on the benefits to consumers. Differentiation: make your product different and special so others will pay more for it. Focus: focus on one single group with whom to sell your product or service.
Views: 17904 Wolters World
Porter's Generic Strategies - Staying Competitive
To learn more about Porter's Generic Strategies take a look at the article at www.mindtools.com/porters-strategies Porter's Generic Strategies are so called because they can be useful to you no matter what industry you work in, what products or services you sell, or whether you are a small or large organization. According to Porter there are three main strategies that you can use to get an edge on your competition. These are: Cost Leadership, Differentiation and Focus. To learn more about each of these strategies and how you can apply them in your organization take a look at our video.
Views: 27773 MindToolsVideos
What Is Your Competitive Advantage? 8 Brand Differentiation Strategies
Knowing and leveraging your competitive advantage is the cornerstone of any successful business. Here are 8 key strategies to use to differentiate your business from the pack. Whether it’s technology, product quality, or data, you have to know what you are going to focus on owning to win in your category. —————————————————————————————— Philip VanDusen is the founder of Verhaal Brand Design, a strategic design and branding consultancy in the New York City metro area. He is an accomplished creative executive and expert in strategic branding, graphic design and creative management. Philip gives design, branding, marketing and business advice to creative professionals and entrepreneurs on building successful creative practices and brands. —————————————————————————————— MY WEBSITE: http://www.philipvandusen.com JOIN THE BRAND•MUSE NEWSLETTER: http://www.philipvandusen.com/muse FREE MINI-EBOOK DOWNLOAD: “9 Design Elements Your Brand Absolutely, Positively Needs” http://www.philipvandusen.com/direct-optin FOLLOW ME ON TWITTER: https://twitter.com/philipvandusen SUBSCRIBE TO MY YOUTUBE CHANNEL: http://www.youtube.com/c/PhilipVanDusen FOLLOW ME ON PINTEREST: https://www.pinterest.com/philipvandusen/ LIKE ME ON FACEBOOK: https://www.facebook.com/Verhaal-Brand-Design-115957185470571/ GET TUBEBUDDY - THE BEST TOOL FOR YOUTUBERS: https://www.tubebuddy.com/philipvandusen RECOMMENDED BOOKS TO HELP YOU BUILD YOUR BRAND AND CREATIVE PRACTICE: "Imagine: How Creativity Works", Jonah Lehrer http://amzn.to/2mJpQe9 “Free Agent Nation” by Daniel Pink http://amzn.to/2mWlbpR “Orbiting the Giant Hairball” by Gordon MacKenzie http://amzn.to/2noTnIL “Rules of the Red Rubber Ball: Find and Sustain Your Life’s Work” by Kevin Carroll http://amzn.to/2moisCu “Change By Design”, by Tim Brown http://amzn.to/2uaXYjX “Good Design Is A Tough Job” by Kirsten Dietz, Jochen Rädeker http://amzn.to/2CAIH0r “The Art of Innovation” by Tom Kelley http://amzn.to/2wtAevL “The Edge: 50 Tips from Brands That Lead” by Allen Adamson http://amzn.to/2Ef6fse “Art + Design” by Rex Ray http://amzn.to/2yLMRRT “Crush It” by Gary Vayerchuk http://amzn.to/2eYdfPO “Expert Secrets” by Russel Brunson http://amzn.to/2zEDOBT “See You at the Top” by Zig Ziglar http://amzn.to/2hBcdhw “Flow: The Psychology of Optimal Experience” by Mihaly Csikszentmihalyi http://amzn.to/2BhBEK MY EQUIPMENT + TOOLS: Canon EOS 80D DLSR Camera: http://amzn.to/2nn4y4q Canon EOS 80D 18-55mm kit lens: http://amzn.to/2mnAAws Canon EOS 80D Yongnuo 35mm lens: http://amzn.to/2nniETh RODE NT2000 Condenser Mic: http://amzn.to/2mFoNvG ART Tube MP: Tube Mic PreAmp: http://amzn.to/2mFoVeE Mackie HR824 Studio Monitors: http://amzn.to/2nxQNz3 Sony MDR 7506 Headphones: http://amzn.to/2mFpsxa Screenflow: video editing software: http://amzn.to/2nxFLK3 Neewer 2 Packs Dimmable Bi-color 480 LED Video Light http://amzn.to/2Cz8INK Logitech HD Pro Webcam C920: http://amzn.to/2nmX4hZ Rode smartLav+ Lavalier Microphone: http://amzn.to/2n2xL7B OWC ThunderBay 4 0GB 4-Bay HD Enclosure: http://amzn.to/2npj7Va Toshiba 3.5-Inch 2TB 7200 RPM HD (x4): http://amzn.to/2mnWZtm HP 27er 27-in IPS LED Backlit Monitor http://amzn.to/2w29u1S Anker 2.4G Wireless Vertical Ergonomic Optical Mouse http://amzn.to/2iZHKts TubeBuddy: https://www.tubebuddy.com/philipvandusen Adobe Creative Suite (2017 CC) Native Instruments Komplete Audio 6: USB Audio Interface *We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
Views: 2179 Philip VanDusen
Business-Level Strategy- Differentiation Strategy
Business-Level Strategy Pt 3- Differentiation Strategy
Views: 6616 Andy Cavanagh
Generic Strategies Mini-Lecture
This is an Overview of Porter's Generic Strategies.
Views: 168230 David Kryscynski
Chap 5 Cost Leadership
Specifics about the cost leadership strategy
Views: 4271 LalaniCenter
porter generic strategy
Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. The generic strategy reflects the choices made regarding both the type of competitive advantage and the scope. The concept was described by Michael Porter in 1980.
Views: 3 Azuka Orumgbe
1540 Differentiation Strategy A
Differentiation strategies help firms be successful with innovation by offering unique products and services. The differentiated strategy serves the broad market. Read the full post at www.globalnpsolutions.com/idea-incubator/
Views: 942 Global NP Solutions
Strategy 101 - Session 3: Positioning Analysis (Cost Leadership and Differentiation)
In the 3rd session of this intro to strategy Christian Stadler explains how companies can use cost leadership or differentiation to position themselves within their industry.
Views: 10489 Christian Stadler
1539 Cost Leadership Strategy A
Cost leadership strategies succeed in new product development when the firm manages manufacturing and distribution costs. The advantage of cost leadership strategy is high profits, but the business strategy can be threatened by competitors offering differentiated products and services. Read the full post at www.globalnpsolutions.com/idea-incubator/
Views: 2713 Global NP Solutions
Product Differentiation and Price Leadership
Vlad Rybak - Minsk Commercial
Views: 58 vlad rybak
Cost Leadership vs differentiation strategies
www.woltersworld.com summary of the differences between cost leadership (doing everything so its cheap) and differentiation s(make it special so people will pay more for it) for the best economics faculty in portgual. NOVA Strategy course
Views: 12091 Mark Wolters
Alternative Competitive Advantage
This mini-lecture introduces an alternative way to characterize the underlying sources of a competitive advantage.
Views: 129240 David Kryscynski
Generic Strategies and Strategic Fit
A tutorial on the two main generic strategies by Michael E. Porter, and a diagnostic tool called Strategic Fit by Ed Bukszar. Find out if a company and its products or services follow a cost leadership or a differentiated strategy, using the Strategic Fit worksheet. [Creative Commons]
Views: 17460 AccessibilityGuy
What is COST LEADERSHIP? What does COST LEADERSHIP mean? COST LEADERSHIP meaning & explanation
What is COST LEADERSHIP? What does COST LEADERSHIP mean? COST LEADERSHIP meaning - COST LEADERSHIP definition - COST LEADERSHIP explanation. SUBSCRIBE to our Google Earth flights channel - http://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ?sub_confirmation=1 Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. In business strategy, cost leadership is establishing a competitive advantage by having the lowest cost of operation in the industry. Cost leadership is often driven by company efficiency, size, scale, scope and cumulative experience (learning curve). A cost leadership strategy aims to exploit scale of production, well-defined scope and other economies (e.g., a good purchasing approach), producing highly standardized products, using advanced technology. In recent years, more and more companies have chosen a strategic mix to achieve market leadership. These patterns consist of simultaneous cost leadership, superior customer service and product leadership. Cost leadership is different from price leadership. A company could be the lowest cost producer yet not offer the lowest-priced products or services. If so, that company would have a higher than average profitability. However, cost leader companies do compete on price and are very effective at such a form of competition, having a low cost structure and management. The concept of cost leadership was developed by Michael Porter.
Views: 17 The Audiopedia
Competitive Strategies
In this course, you will understand what distinguishes each of the five generic strategies and why some of these strategies work better in certain kinds of industry and competitive conditions than in others. A competitive strategy concerns the specifics of management’s game plan for competing successfully and securing a competitive advantage over rivals in the marketplace. It is important to understand what distinguishes each of the five generic strategies and why some of these strategies work better in certain kinds of industry and competitive conditions than in others. A low-cost leader’s basis for competitive advantage is lower overall costs than competitors’. Success in achieving a low-cost edge over rivals comes from eliminating and/or curbing “nonessential” activities and-or out managing rivals in performing essential activities. A low-cost provider strategy achieves lower overall costs than rivals and appealing to a broad spectrum of customers, usually by underpricing rivals. The essence of a broad differentiation strategy is to offer unique product or service attributes that a wide range of buyers find appealing and worth paying for. A low-cost provider strategy can always defeat a differentiation strategy when buyers are satisfied with a basic product and don’t think “extra” attributes are worth a higher price. The targeted segment, or niche, can be defined by geographic uniqueness or by special product attributes that appeal only to niche members. Niche strategies are focused closely on serving segment-specific or niche markets. Business strategy may alternatively be based on the process of product or service differentiation across a range of markets and market segments. Best-cost provider strategies are a hybrid of low-cost provider and differentiation strategies that aim at satisfying buyer expectations on key quality/features/performance/ service attributes and beating customer expectations on price. A company’s competitive strategy should be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.
Views: 62 Gregg Learning
Porter's Typology of Cost Leadership, Differentiation, and Focus
http://academlib.com/3737/management/miles_snows_typology_defender_prospector_analyzer_reactor#689 Porter's framework for competitive strategy is one of the most widely accepted business planning models.38 Porter identifies three generic strategies that firms in an industry may adopt to gain a competitive advantage over their rivals. He also characterizes firms that don't clearly follow one of the strategies as being "stuck in the middle."39 ...
Views: 1900 Academ Lib
Generic Strategies 1
This clip summarizes the dichotomy between differentiation and low cost leadership strategies
Views: 10179 aktosjd
What Companies Use Cost Leadership Strategy?
"OBSERVE What Companies Use Cost Leadership Strategy LIST OF RELATED VIDEOS OF What Companies Use Cost Leadership Strategy IN THIS CHANNEL : What Companies Use Cost Leadership Strategy? https://www.youtube.com/watch?v=szRgH_mhc9Q What Is A Strategic Tool? https://www.youtube.com/watch?v=WkiUqWBmpI4 What Is A Diversification Strategy? https://www.youtube.com/watch?v=jn3at02Q4tU What Is Horizontal Integration Strategy? https://www.youtube.com/watch?v=UoIlA4-GQwY What Is The Concentration Strategy? https://www.youtube.com/watch?v=jePGO_6VcYA What Is The Strategic Plan? https://www.youtube.com/watch?v=eUwbfivcCJ4 What Is The Intensive Strategy? https://www.youtube.com/watch?v=UzQqa9ND1vQ What Is A Winning Strategy? https://www.youtube.com/watch?v=jlEwYe6CdIk What Is The Growth Strategy? https://www.youtube.com/watch?v=bS7oAnH1Ip0 What Is The Strategic Approach? https://www.youtube.com/watch?v=FWjaMDD0g0Y"
Views: 1477 sparky Facts
Positioning, Segmentation and Differentiation
This animation shows the basic concept of positioning, segmentation and differentiation in a didactical and entertaining way. More information and access to the multimedia technical note: http://openmultimedia.ie.edu/fichas/posicionamiento_segmentacion_i.html IE Business School http://www.ie.edu
Views: 75221 IE Business School
Product differentiation
Interview with Dinesh Victor, MD, SIP, Chennai, September 5, 2008, 10 am
Views: 1322 Murali D
Oligopoly: Bertrand Competition with Differentiated Goods
This video solves a problem based on Bertrand competition with differentiated goods. I have another video that reviews Bertrand competition with identical goods. IMPORTANT NOTE about Marginal Revenue in this video: In Bertrand, a price competition model, the expression for MR is dTR/dP rather than the usual dTR/dQ. Likewise, if you setup up a profit function for each firm in this example, you would take the derivative of profit with respect to price, so the marginal profit expression is dProfit/P, not the usual dProfit/dQ. If you are still not convinced, see Microeconomics (page 467, including footnote #9) by Goolsbee, Levitt, and Syverson.
Views: 91697 1sportingclays
3 Winning Strategies to Beat Low Cost Competitors
In this 2nd webinar, we will switch from threat to response options. We will introduce a simple conceptual framework to help executives and managers think about the possible ways their companies can respond to the low cost challenge. Should they confront the LCCs in their market segments and/or distance the business from LCCs by opening up a performance leadership gap (significantly better products or services) and/or distance the business from low cost competitors by building deep and intimate relationships with customers? We will look at examples of companies who have implemented one or more of these strategies and the challenges they have faced in implementing the chosen options.
Views: 4488 stanfordonline
Strategy in Management
How important is strategic management? It largely determines which organizations succeed and which ones struggle. So, what does it mean to think strategically? Strategic thinking means to take the long-term view and to see the big picture, including the organization and the competitive environment, and consider how they fit together. Strategic Management refers to the set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals. Strategy necessarily changes over time to fit environmental conditions, but to achieve competitive advantage, companies develop strategies that incorporate these elements - target specific customers, focus on core competencies, provide synergy, and create value. Organizations will thrive with a strategy based on targeting customers, exploiting core competencies, building synergy, and providing value. SWOT analysis is an audit or careful examination of strengths, weaknesses, opportunities, and threats that affect organizational performance. Managers often start with a SWOT analysis, an audit or careful examination of strengths, weaknesses, opportunities, and threats that affect organizational performance. The BCG matrix is concept developed by the Boston Consulting Group (BCG) that evaluates strategic business units with respect to two dimensions— business growth rate and market share. The BCG Matrix is a simple tool for understanding and analyzing business strategy and formulating appropriate management plans. Porter’s Five Competitive Forces help determine a company’s position vis-à-vis competitors in the industry environment. Porter’s Five Competitive Forces include potential new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products and rivalry among competitors. Porter’s Five Competitive Forces help managers understand the forces that exist that will affect the strategic management of the organization. To find a competitive edge within the specific business environment, Porter suggests that a company can adopt one of three strategies: differentiation, cost leadership, or focus. A differentiation strategy is a strategy with which managers seek to distinguish the organization’s products and services from those of others in the industry. A cost leadership strategy is a strategy with which managers aggressively seek efficient facilities, cut costs, and use tight cost controls to be more efficient than others in the industry. A focus strategy is a strategy where managers use either a differentiation or a cost leadership approach, but they concentrate on a specific regional market or buyer group. In his studies, Porter found that some businesses did not consciously adopt one of these three strategies and were stuck with no strategic advantage. Without a strategic advantage, businesses earned below-average profits compared with those that used differentiation, cost leadership, or focus strategies. Managers should think carefully about which strategy will provide their company with a competitive advantage. The primary tools that managers use to implement strategy effectively: visible leadership, clear roles and accountability, candid communication, and appropriate HR practices. Managers use visible leadership, clear roles and accountability, candid communication, and appropriate HR practices to execute strategy effectively.
Views: 131 Gregg Learning
Differentiated marketing strategy - defined
A differentiated marketing strategy is when a company decides to target more than one market segment, and designs a separate offering for each market segment. examples: Unilver and McDonalds - created at http://www.b2bwhiteboard.com
Views: 15036 B2Bwhiteboard
Business Strategies
An explanation for a business strategy called "Porter's Generic Strategies Model", with a comparison between "Differentiation", "Cost leadership" and "Focus" strategies.
Views: 246 Nouran Sameh
What is COMPETITIVE ADVANTAGE? What does COMPETITIVE ADVANTAGE mean? COMPETITIVE ADVANTAGE meaning - COMPETITIVE ADVANTAGE definition - COMPETITIVE ADVANTAGE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Competitive advantage is a business concept that describes the attribute of allowing an organization to outperform its competitors. These attributes may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, etc. Access to new technology can also be considered as an attribute of competitive advantage. Competitive advantage is the leverage that a business has over its competitors. This can be gained by offering clients better and greater value. Advertising products or services with lower prices or higher quality interests consumers. Target markets recognize these unique products or services. This is the reason behind brand loyalty, or why customers prefer one particular product or service over another. Value proposition is important when understanding competitive advantage. If the value proposition is effective it can produce a competitive advantage in either the product or service. The value proposition can increase customer expectations and choices. Michael Porter defined the two ways in which an organization can achieve competitive advantage over its rivals: cost advantage and differentiation advantage. Cost advantage is when a business provides the same products and services as its competitors, albeit at a lesser cost. Differentiation advantage is when a business provides better products and services as its competitors. In Porter's view, strategic management should be concerned with building and sustaining competitive advantage. Competitive advantage seeks to address some of the criticisms of comparative advantage. Competitive advantage rests on the notion that cheap labor is ubiquitous and natural resources are not necessary for a good economy. The other theory, comparative advantage, can lead countries to specialize in exporting primary goods and raw materials that trap countries in low-wage economies due to terms of trade. Competitive advantage attempts to correct this issue by stressing on maximizing scale economies in goods and services that garner premium prices (Stutz and Warf 2009). The term competitive advantage refers to the ability gained through attributes and resources to perform at a higher level than others in the same industry or market (Christensen and Fahey 1984, Kay 1994, Porter 1980 cited by Chacarbaghi and Lynch 1999, p. 45). The study of this advantage has attracted profound research interest due to contemporary issues regarding superior performance levels of firms in today's competitive market. "A firm is said to have a competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential player" (Barney 1991 cited by Clulow et al.2003, p. 221). Successfully implemented strategies will lift a firm to superior performance by facilitating the firm with competitive advantage to outperform current or potential players (Passemard and Calantone 2000, p. 18). To gain competitive advantage, a business strategy of a firm manipulates the various resources over which it has direct control and these resources have the ability to generate competitive advantage (Reed and Fillippi 1990 cited by Rijamampianina 2003, p. 362). Superior performance outcomes and superiority in production resources reflect competitive advantage (Day and Wesley 1988 cited by Lau 2002, p. 125). The quotes above signify competitive advantage as the ability to stay ahead of present or potential competition. Also, it provides the understanding that resources held by a firm and the business strategy will have a profound impact on generating competitive advantage. Powell (2001, p. 132) views business strategy as the tool that manipulates resources and creates competitive advantage, hence viable business strategy may not be adequate unless it possesses control over unique resources that have the ability to create such a unique advantage.
Views: 16329 The Audiopedia
3.8 10 Porter's Generic Strategies: Differentiation Leadership
This video looks at Porter's generic differentiation leadership strategy.
Views: 128 Mr Evans Business
Building strategic differentiation
Learn about the benefits and drivers of strategic differentiation and how to incorporate the principles into your strategy process. (Michael Sherain)
Views: 8974 QuadricTube
Which company use cost leadership strategy
Which company use cost leadership strategy - Find out more explanation for : 'Which company use cost leadership strategy' only from this channel. Information Source: google
Views: 6 Give Me a moment
Differentiation strategy
-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 125 Lisa_Blackpink
The Five Competitive Forces That Shape Strategy
An Interview with Michael E. Porter, Professor, Harvard University. Porter's five competitive forces is the basis for much of modern business strategy. Understand the framework and how to put it into practice.
Views: 1812633 Harvard Business Review
Strategic Decision Making | Basic Concepts
Strategic Decision Making | Basic Concepts like Porter's 5 forces, Blue Ocean Strategy, Cost Leadership, Product Differentiation, Decision Making Devil's Advocate, Mirror Test #AnuragSingalYouTube Playlists 1. Random Reflections https://goo.gl/BYRnCD 2. GST https://goo.gl/i7kftk 3. Career https://goo.gl/qATKNF 4. Financial Planning https://goo.gl/tpkfT3 5.Inspiring Speeches https://goo.gl/1zCyFq
Views: 554 Anurag Singal
Product Differentiation
Views: 52 Stan L
Prices & Markets : Product Differentiation - Real or Perceive?
Our Micro-econs lecturer explaining product differentiation
Views: 5409 LostHeaven85
Starbucks SWOT Analysis
On Udemy: https://www.udemy.com/user/365careers/ On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Business strategy introduces the idea behind doing SWOT analyses. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Strategy module table of contents: MBA in a Box: Introduction 1. What does the course cover? Section: 2 Strategy: An Introduction 2. The role of Strategy and what makes a Strategy successful 3. The difference between Corporate and Business Strategy 4. The importance of the Mission, Vision, Goals, and Values statements Section: 3 Strategy: The industry lifecycle model 5. The four stages of the industry lifecycle model - An introduction 6. The strategic importance of the industry lifecycle model 7. The Introduction stage - A new industry is born 8. The Growth stage - An industry in its expansion phase 9. The Maturity stage - An industry at its peak 10. The Decline stage - An obsolete industry Section: 4 Strategy: Porter's Five Forces model - The competitive dynamics in an industry 11. Michael Porter's Five Forces model 12. The threat of new entrants 13. The threat of substitute products 14. The intensity of current competition 15. The bargaining power of suppliers 16. The bargaining power of clients 17. Porter's Five Forces framework applied in practice Section: 5 Strategy: Game Theory - Studying the interaction between multiple parties 18. An introduction to Game Theory 19. Zero-sum games - approaching situations with a win-lose perspective 20. Non-zero-sum games - considering both cooperation and confrontation 21. Tobacco companies - a real-life example of Game Theory application Section: 6 Strategy: Focusing on the inside of a business 22. Focusing on the inside of a business - An Introduction 23. A company's lifecycle model - what should be done at different stages Section: 7 Strategy: Acquiring a competitive advantage 24. The quest for a competitive advantage - An Introduction 25. The importance of building a sustainable competitive advantage 26. The role of resources and capabilities 27. Acquiring an actual competitive advantage Section: 8 Strategy: The three main competitive strategies 28. The three main competitive strategies 29. Cost leadership - sell cheap 30. Differentiation - be different 31. Niche (Focus) strategy - find your niche market 32. The danger of hybrid strategies Section: 9 Strategy: Corporate growth strategies 33. The types of growth opportunities companies pursue 34. Organic growth - building a solid foundation 35. Inorganic growth - leveraging M&A transactions 36. Horizontal integration 37. Vertical integration Section: 10 Strategy: The SWOT analysis framework 38. An introduction to SWOT analysis 39. SWOT analysis in practice - Starbucks -------------------------------- Strategy analysis has two main branches – analysis of a firm’s external environment and analysis of a firm’s internal environment. SWOT is a famous framework that allows us to combine the two types of analysis. SWOT is sometimes referred to as internal-external analysis. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The first two, Strengths and Weaknesses, are related to a firm’s internal environment, while the last two, Opportunities and Threats, consider its external environment. Internal strengths and external opportunities are vertically paired as helpful elements, while internal weaknesses and external threats are paired as harmful elements. if we perform a company analysis, under strengths, we would expect to see its core competences, the areas where the business excels and has a competitive advantage over competitors. Weaknesses are areas that need improvement. Such vulnerabilities place a company at a disadvantage when competing against other firms. Opportunities can be seen as favorable factors existing in a company’s external environment, in the industry where it operates, and have the potential to improve its current results and competitive positioning. Threats arise in a company’s external environment and might harm its current business.
Views: 118866 365 Careers
business level strategy
In business level strategy more important in the business to provide competitive advantage competitive scope to provide cost leadership differentiation for product or service focus will be provided.
Views: 141 Vikas magar
What is strategy Michael E Porter
Views: 80946 update
Michael Porter: Strategy, Competition and the Age of the Smart, Connected Machines
In this excerpt, Harvard Business School Professor Michael Porter discusses how smart, connected products are enabling the next digital revolution and forcing companies to change the way they operate. Professor Porter served as the inaugural keynote speaker for the Roy and Bobbi Church Visionary Leadership Institute at Lorain County Community College.
√√ Strategic Role of Operations Management | Business Studies | iitutor
https://www.iitutor.com Strategic means affecting all business functions. The strategic role of operations management is to contribute to the direction and plan of the business. The main goal of business is to minimise costs to maximise profits. A strategic role of operations is the management of costs. The different operations costs for a business are: Input costs, Labour costs, Processing costs, Inventory costs, Quality management. • Cost leadership aims to have the lowest costs and be the most prices competitive in the market. The business must still be profitable. Operations Management therefore must find ways to reduce costs in production. Example: Bunnings. A business can cut costs by increasing the scale/size of the business. How? By buying in bulk, the business is able to negotiate lower costs per unit. Goods/service differentiation: Tangible – they can be seen and touched. Tend to be standardised. Can be owned and transferred between people. Can take considerable time between production and consumption. Easy to determine costs by calculating inputs and adding margin. Services: Intangible. Generally customised. Cannot be owned. Production and consumption occurs at the same time. The value of a service depends on what the consumer is prepared to pay. Product Differentiation. Operations must find a way to distinguish their products from their competitors. This gives them a competitive advantage. This will differ between goods and services. Product Differentiation: Goods. Varying the actual product features. Operations search for ways to make their product features attractive to the consumer. Varying product quality. Making a low quality alternative to attract a different group of consumers. Varying the augmented features. This refers to add-ons or additional benefits. Product Differentiation: Services. Varying the amount of time spent on a service. Example: Hair salons. Varying the level of expertise brought to a service. Some service providers will offer a higher level of expertise. Varying the qualifications and experience of the service provider. This can be an important factor when consumers are choosing their service provider. Varying the quality of materials/ technology used in service delivery. Computer Aided Manufacturing (CAM). Medical technologies. Cross Branding: Operations may choose to offer consumers added benefits from a cross-branding arrangement.
Views: 28555 iitutor.com