6721 formulation evaluation control students 2011

6721 formulation evaluation control students 2011 - Weekend...

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Unformatted text preview: Weekend 3 Strategy formulation Portfolio approaches Evaluating options Strategic control Last time External analysis PESTLE forces (macro-environment) Porter’s 5 Forces (industry) Internal analysis The value chain Interim: The 10-K Integration Good job: Overall means, distributions Strong points Good firms, good selections, good interpretations, good comparisons, analysis Watch out for What’s the best bucket? Politics versus legal Internal (firm-specific) Ss & Ws; External (industry or broader) Os & Ts Coming attractions: Case 1: Industry analysis Due Thursday February 10 Email to: [email protected] and [email protected] Before we move on… Some thoughts from Michael Porter, via CNBC, from the World Economic Forum in Davos last week http://www.cnbc.com/id/15840232?video=1768921549&play=1 Recall: Primary activities ● Inbound logistics ● Operations/Production ● Outbound logistics ● Marketing and sales ● Service Support activities ● Procurement ● Technology development/R&D ● Human resource management ● Firm infrastructure/Top management In the end, the value chain is all about: Identifying sources of sustainable competitive advantage Criteria of Sustainable Competitive Advantage Valuable (creating value for customer) Rare (if everybody’s doing it…) Imperfectly imitable (not easily copied) ● Unique historical conditions ● Causally ambiguous ● Social complexity Porter’s Value Chain Primary activities Support activities ALL are potential sources of sustainable competitive advantage Most firms look to only 1 (why not 3?) Most look to the same few candidates (tunneling!) And even within prod/ops, only a better product (why ignore speed, accuracy, etc.?) Conversation: In your firms Sources of SCA Which link(s) on the value chain? How do you do it? Other links tried (& didn’t work)? Why? Environmental Analysis (SWOT) External Industry (Five Forces) Macro-environment (PESTLE) Internal The Value Chain All of this is environmental analysis Mistakes in Environmental Analysis Can Be Avoided by: First, recall “Black Swan” issues But then… Mistakes in Environmental Analysis Can Be Avoided by: Don’t substitute forecasts for reality Create alternative possible “futures” Consider alternative possible pasts Search for causal processes Identify key events, key success factors, and their consequences Develop an integrated analytical approach Alternative futures...
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6721 formulation evaluation control students 2011 - Weekend...

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