How can customers be retained Can the offer be relaunched repackaged or

How can customers be retained can the offer be

This preview shows page 17 - 23 out of 83 pages.

How can customers be retained? Can the offer be relaunched , repackaged or streamlined? Product / Service Mix Post patent strategy Managing complexity as a constant task Striving for cost improvements The product life cycle 17
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© Han Zheng, 2019 18 The PESTEL Framework
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© Han Zheng, 2019 General PESTEL analysis for China (relevant aspects differ for each company) Strategic priorities of China`s 5-year plan Economic policies Investment in R&D International patents Urbanization Aging society Dependency ratio Gini-coefficient GDP development Exports Wages Service sector development Industrial output Air pollution Energy intensity Ecological footprint Business license Import license M&A policies 19 The PESTEL Framework
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© Han Zheng, 2019 VUCA is an acronym used by the U.S. Military in the 1990s to describe extreme conditions in Afghanistan and Iraq. The acronym has been adopted in the business world, as we have to deal with constantly changing challenges brought on by politics, economics, society and the environment. FROM … TO … Problem solving and planning aimed at reducing uncertainty Actively engaging with uncertainty, requiring higher levels of leadership agility V olatility U ncertainty C omplexity A mbiguity 20 „VUCA“ challenges for strategic decisions
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© Han Zheng, 2019 Complexity Characteristics: The situation has many interconnected parts and variables. Some information is available, but its volume & nature can be overwhelming to process. Ambiguity Characteristics: Causal relationships are unclear and no precedents exist. Volatility Characteristics: The challenge is unexpected or unstable and may be of unknown duration. Knowledge about it is often available. Uncertainty Characteristics: Despite a lack of other information, the event`s basic cause and effect are known. Change is possible but not given. + + - How much do you know about the situation? How well can you predict the results of your decision? V C U A 21 „VUCA“ challenges for strategic decisions
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© Han Zheng, 2019 22 Volatility - Volatility refers to the speed of change in an industry, market or the world in general. It is associated with fluctuations in demand, turbulence and short time to markets. The more volatile the world is, the more and faster things change. Uncertainty - Uncertainty refers to the extent to which we can confidently predict the future. Truly uncertain environments are those that don’t allow any prediction, also not on a statistical basis. The more uncertain the world is, the harder it is to predict. Complexity - Complexity refers to the number of factors that we need to take into account, their variety and the relationships between them. Under high complexity, it is impossible to fully analyze the environment and come to rational conclusions. The more complex the world is, the harder it is to analyze.
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