TMP 120 Lecture 17 Summary 112917 (1).ppt - TMP 120 Summary TMP 120 Dr Karen Smith Bogart Today Round 6 Debrief Summary Review Strategy Its About

TMP 120 Lecture 17 Summary 112917 (1).ppt - TMP 120 Summary...

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TMP 120 November 29, 2017 Dr. Karen Smith Bogart TMP 120 Summary
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Today Round 6 Debrief Summary & Review
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Strategy: It’s About Winning Creates a unique sustainable competitive advantage. Common Elements of Strategy Long-term and consistent goals. Deep understanding of the competitive environment. Objective assessment of resources and capabilities. Effective execution to reach the goals. Strategy Aim: Creating Value Key questions: Where to compete? How to compete?
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What is Strategy?: Porter The choice of which unique activities a firm should pursue Sustainable advantage requires trade-offs, can’t pursue everything Operational effectiveness is not strategy. It’s important but not enough…. Advantage requires “fit” among the company activities in the Value Chain … a consistency toward winning objectives. Inbound logistics Operations Marketing and Sales Services Outbound Logistics Company infrastructure Human resource management Technology development Procurement P r of P r of it it Profit Profit
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Strategic Fundamentals: Collis & Rukstad Vision Statement: What do we want to be. Aspiration. Mission Statement: Why we exist. Our Purpose. Values Statement: What we believe in, how we behave Strategy Objective – the ends Scope – the domain of activities Advantage – the means to obtain the “ends” Balanced Scorecard: How we will measure The Strategic Sweet Spot: Where the needs of the customers’ and the resources of the company intersect in a way that rivals can’t compete.
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6 Opportunity Plan Do Target and size the opportunit Define target market Customer benefit Expected value Desired advantage Basis for our difference Competition Skills and resources Action steps and measures: Goals Commercialization and Operations Marketing and Sales Service After-life support Verify Strategy
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“Strategy Happens” Intended Strategy : Set by top leadership outlining what is to be done. Emergent Strategy : Results from the actions and decisions of organizational members as they deal with the “real” forces affecting efforts to implement the above. Unplanned strategy that arises in response to unexpected challenges and opportunities. Realized Strategy : The outcome of the intended and emergent strategies. What really is achieved.
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Situation Analysis PESTEL Porter’s “5 Forces” 5C Analysis SWOT Environmental vs. Industry Analysis
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Industry Attractiveness: Porter’s “5” Forces Suppliers Suppliers Existing Competitors Existing Competitors Buyer Buyer New Entrants New Entrants Substitutions Substitutions Threat of new entrants barriers to entry • economies of scale brand equity Bargaining power of suppliers supplier switching costs • degree of differentiation of inputs substitute inputs supplier concentration to firm concentration ratio threat of forward integration Bargaining power of customers buyer concentration to firm
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