Management by chuch williams chapter 06

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Management by chuch williams chapter 06

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Chapter Organizational Strategy MGMT Chuck Williams Designed & Prepared by B-books, Ltd Copyright ©2008 Cengage Learning All rights reserved Basics of Organizational Strategy After reading these sections, you should be able to: indicate the components of sustainable competitive advantage and explain why it is important describe the steps involved in the strategy-making process Copyright ©2008 Cengage Learning All rights reserved Sustainable Competitive Advantage Resources Resources The Theassets, assets,capabilities, capabilities,processes, processes, information, information,and andknowledge knowledgethat thatthe the organization organizationcontrols controls Competitive Competitive Advantage Advantage Providing Providinggreater greatervalue valuefor forcustomers customers than thancompetitors competitorscan can Sustainable Sustainable Competitive Competitive Advantage Advantage AAcompetitive competitiveadvantage advantagethat thatother other companies companieshave havetried triedunsuccessfully unsuccessfully to toduplicate duplicate Copyright ©2008 Cengage Learning All rights reserved Requirements for Sustainable Competitive Advantage Valuable Valuable Resources Resources Rare Rare Resources Resources Sustainable Sustainable Competitive Competitive Advantage Advantage Imperfectly Imperfectly Imitable Imitable Resources Resources NonNonSubstitutable Substitutable Resources Resources Copyright ©2008 Cengage Learning All rights reserved Strategy-Making Process Assess need for strategic change Conduct a Situational Analysis Choose Strategic Alternatives Copyright ©2008 Cengage Learning All rights reserved Assessing the Need for Strategic Change Avoid Competitive Inertia  a reluctance to change strategies or competitive practices that have been successful in the past Look for Strategic Dissonance  a discrepancy between a company’s intended strategy and the strategic actions managers take when implementing that strategy 2.1 Copyright ©2008 Cengage Learning All rights reserved Situational Analysis SS Strengths Strengths Internal W W Weaknesses Weaknesses O O Opportunities Opportunities External TT Threats Threats 2.2 Copyright ©2008 Cengage Learning All rights reserved Situational Analysis I N T E R N A L Strengths • Distinctive Competence • Core Capability Weaknesses E X T E R N A L Opportunities • Environmental Scanning Strategic Groups Threats 2.2 Copyright â2008 Cengage Learning All rights reserved Strategic Groups • Core Firms • central companies in a strategic group • Secondary Firms • firms that follow related, but somewhat different, strategies than core firms 2.2 Copyright ©2008 Cengage Learning All rights reserved Choosing Strategic Alternatives • Risk-Avoiding Strategy – protect an existing competitive advantage • Risk-Seeking Strategy – extend or create a sustainable competitive advantage • Strategic Reference Points – targets used by managers to determine if the firm has developed the core competencies it needs to achieve a sustainable competitive advantage 2.3 10 Copyright ©2008 Cengage Learning All rights reserved Problems with Portfolio Strategy • Unrelated diversification does not reduce risk • Present performance is used to predict future performance • Cash cows fail to aggressively pursue opportunities and defend themselves from threats • Being labeled a “cash cow” can hurt employee morale • Companies often overpay to acquire stars • Acquiring firms often treat stars as “conquered foes.” 19 Copyright ©2008 Cengage Learning All rights reserved Grand Strategies Growth Growth Strategy Strategy focuses focuseson onincreasing increasingprofits, profits, revenues, revenues,market marketshare, share,or ornumber number of ofplaces placesto todo dobusiness business Stability Stability Strategy Strategy focuses focuseson onimproving improvingthe theway waythe the company companysells sellsthe thesame sameproducts products or orservices servicesto tothe thesame samecustomers customers Retrenchment Retrenchment Strategy Strategy focuses focuseson onturning turningaround aroundvery verypoor poor company companyperformance performanceby byshrinking shrinking the thesize sizeor orscope scopeof ofthe thebusiness business 3.2 20 Copyright ©2008 Cengage Learning All rights reserved Industry-Level Strategies Five Five Industry IndustryForces Forces Positioning Positioning Strategies Strategies Adaptive Adaptive Strategies Strategies 21 Copyright ©2008 Cengage Learning All rights reserved Porter’s Five Industry Forces Threats Threats of of New NewEntrants Entrants Bargaining Bargaining Power Powerof of Suppliers Suppliers 4.1 Character Character of of Rivalry Rivalry Bargaining Bargaining Power Power of of Buyers Buyers Threat Threatof of Substitutes Substitutes 22 Copyright ©2008 Cengage Learning All rights reserved Positioning Strategies Cost CostLeadership Leadership Differentiation Differentiation Focus Focus Strategy Strategy 4.2 23 Copyright ©2008 Cengage Learning All rights reserved Differentiation 24 Copyright ©2008 Cengage Learning All rights reserved Adaptive Strategies Defenders Defenders Prospectors Prospectors  seek seekmoderate moderategrowth growth  retain retaincustomers customers  seek seekfast fastgrowth growth  emphasize emphasizerisk-taking risk-taking & &innovation innovation Analyzers Analyzers Reactors Reactors  blend blendof ofdefender defender& & prospector prospectorstrategies strategies  imitate imitateothers’ others’ successes successes  use usean aninconsistent inconsistent strategy strategy  respond respondto tochanges changes 4.3 25 Copyright ©2008 Cengage Learning All rights reserved Firm-Level Strategies Basics Basicsof of Direct Direct Competition Competition Strategic StrategicMoves Moves in in Direct Direct Competition Competition Entrepreneurship Entrepreneurship 26 Copyright ©2008 Cengage Learning All rights reserved Firm-Level Strategies DIRECT COMPETITION STRATEGIC MOVES OF DIRECT COMP ENTREPRENEURIAL INTRAPRENEURIAL ORIENTATION Market Marketcommonality commonality Attack Attack Autonomy Autonomy Resource Resourcesimilarity similarity Innovativeness Innovativeness Response Response Risk Risktaking taking Proactiveness Proactiveness Competitive Competitive Aggressiveness Aggressiveness 27 Copyright ©2008 Cengage Learning All rights reserved Market Commonality Direct Competition McDonald’s Wendy’s McDonald’s Burger King High McDonald’s II I III IV McDonald’s Low Subway Luby’s Cafeteria Low High Resource Similarity 5.1 28 Copyright ©2008 Cengage Learning All rights reserved Strategic Moves of Direct Competition Attack A competitive move designed to reduce a rival’s market share or profits Response A competitive countermove, prompted by a rival’s attack, to defend or improve a company’s market share or profit 5.2 29 Copyright ©2008 Cengage Learning All rights reserved Strategic Moves of Direct Competition Types Types of of Responses Responses 1 Match Match or or mirror mirror your your competitor’s competitor’s move move Respond along a different dimension from your competitor’s move or attack 5.2 30 Copyright ©2008 Cengage Learning All rights reserved Strategic Moves of Direct Competition Competitor Analysis Interfirm Rivalry: Action & Response Strong Market Commonality Less Likelihood of an Attack Weak Market Commonality Greater Likelihood of an Attack Strong Resource Similarity Less Likelihood of a Response Low Resource Similarity Greater Likelihood of a Response 5.2 31 Copyright ©2008 Cengage Learning All rights reserved Entrepreneurship Beyond the Book • Entrepreneurship – the process of entering new or established markets with new goods or services • Intrapreneurship – entrepreneurship within an existing organization • Entrepreneurial orientation – the set of processes, practices, and decision-making activities that lead to new entry 32 Copyright ©2008 Cengage Learning All rights reserved Beyond the Book Key Dimensions of Entrepreneurial Orientation Risk Risk Taking Taking Autonomy Autonomy Innovativeness Innovativeness Proactiveness Proactiveness Competitive Competitive Aggressiveness Aggressiveness 33 Copyright ©2008 Cengage Learning All rights reserved ... focuseson onturning turningaround aroundvery verypoor poor company companyperformance performanceby byshrinking shrinking the thesize sizeor orscope scopeof ofthe thebusiness business 3.2 20 Copyright... extend or create a sustainable competitive advantage • Strategic Reference Points – targets used by managers to determine if the firm has developed the core competencies it needs to achieve a sustainable... Competition McDonald’s Wendy’s McDonald’s Burger King High McDonald’s II I III IV McDonald’s Low Subway Luby’s Cafeteria Low High Resource Similarity 5.1 28 Copyright ©2008 Cengage Learning All rights reserved

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Mục lục

  • Chapter 6 Organizational Strategy

  • Basics of Organizational Strategy

  • Sustainable Competitive Advantage

  • Requirements for Sustainable Competitive Advantage

  • Strategy-Making Process

  • Assessing the Need for Strategic Change

  • Situational Analysis

  • Slide 8

  • Strategic Groups

  • Choosing Strategic Alternatives

  • Strategic Reference Points

  • Corporate, Industry, and Firm-Level Strategies

  • Corporate-Level Strategies

  • Slide 14

  • BCG Matrix

  • Slide 16

  • Slide 17

  • Diversification and Risk

  • Problems with Portfolio Strategy

  • Grand Strategies

  • Industry-Level Strategies

  • Porter’s Five Industry Forces

  • Positioning Strategies

  • Differentiation

  • Adaptive Strategies

  • Firm-Level Strategies

  • Slide 27

  • Direct Competition

  • Strategic Moves of Direct Competition

  • Slide 30

  • Slide 31

  • Entrepreneurship

  • Key Dimensions of Entrepreneurial Orientation

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