MGMT_451_Fall_2011_Student_Class 6

MGMT_451_Fall_2011_Student_Class 6 - MGMT 451 Strategic...

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MGMT 451 – Strategic Management Monday – September 12 2011 Class 6 – Quiz, Internal Analysis, Class Exercise Instructor -   Mona Bahl
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Outline for Today l Quiz 1 l Administrative Announcements l Set-Up for Next Class (September 14, 2011) l Internal Analysis l Tinker Toys Game 2
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Quiz #1 – September 12 , 2011 10 minutes 3
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Final group information for case studies posted on Katalyst Home work grades posted on Katalyst Appendix Slides 4 Administrative Announcements
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5 5 Read Chapter 4 Class Reporter Presentation HW 4 due start of class Monday (September 19, 2011) instead of Wednesday (September 14, 2011) Template available on Katalyst Work in teams of two Using the Business Level Strategies and Value Chain templates identify… What is Whole Foods’ generic strategy? Support your view with value chain analysis. Next Class (September 14 2011)
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Core Competencies Building  Blocks Of Value Creation •  Efficiency • Quality • Innovation • Customer    responsiveness Capabilities Higher   Value   Lower   Cost Value Creation Resources Resources & Capabilities: The Roots of Competitive Advantage The resource, or capability, or both need Economizing Use Employing In New Ways 6 http://www.youtube.com/watch?v=cQJPYgl5aoY
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Core competencies are resources and capabilities that serve as a source of competitive advantage for a firm over its rivals In other words … A firm’s unique strength that allows a company to achieve superior efficiency, quality, innovation, or customer service. It allows the firm to create value and capture that value Often, a core competence results from integration of different resources and capabilities of an organization. Core competencies typically reside in a company’s people 7 What Are Core Competencies?
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Key Questions for Managers: How do we assemble bundles of R&C in order to build core competences and create value for our customers? Will environmental changes make our core competences obsolete? Are substitutes available for our CC? Will our competitors be able to imitate our CC? 8
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A property of the product measured by its performance characteristics for which customers are willing to pay 9 Why is this important? If you capture the value that others did not notice yet, you can price it! Same building Different floor Surprisingly, colleagues pay 25 cents  extra for the same bottle of water on a  different floor of the same building What is the “Value”?
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A Buyer’s Maximum Willingness To Pay Consumer Surplus Business Unit’s Profit Production Cost V - P P - C C P: Price per unit C: Cost per unit V: Value to Customer Per Unit of Product Or Service Once Again …Strategy is) Value Creation* 10
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Valuable Capability Help a firm neutralize threats or exploit opportunities Rare Capability Are not possessed by many others Costly-to-Imitate Capability Historical: Firm developed in an unusual way that supported the development of certain competencies (e.g. Southwest)
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MGMT_451_Fall_2011_Student_Class 6 - MGMT 451 Strategic...

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