The influence of complementors on an industry are

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The influence of complementors on an industry are dependant on: o the ability to integrate backwards or forwards to replace the complementary item o availability of substitute complements o buyer or suppler switching costs. 4. Strategic Group analysis—a strategic group is a group of firms that competes in a similar manner. This can be determined in a number of ways.— customer base, geography, product, combination of factors, etc. iii. Wrap up of the Planning Process o Planning involves looking at the past and assuming past patterns will continue into the future. This is because: o It is easier to examine the past than forecast the future. o The firm may have been successful in the past and is banking that the past will repeat itself leading to future success. o Corporate leaders succeeded by doing certain things in the past and they hope to continue this. o It is important for the firm to gain the best possible estimate of the future and base strategic plans on these estimates. b. Implementation —after planning, the firm must put the plan into action. (figure 2.7) i. Key actions in implementation: 1. What to do—execute the plan 2. When to do it—when priorities dictate 3. How to do it—make or buy 2-8
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4. Who will do it—us, them or combination ii. Common implementation concerns 1. Structure 2. Personnel issues such as hiring, job assignments, training, development 3. Decision making 4. Communication to whom, how, when, etc. 5. Culture of the firm—norms and values 6. Employee incentives—rewards, awards, etc. iii. Tool to conceptualize elements of the implementation process—value chain analysis which breaks down the firm’s activities into primary and support activities o Primary activities include major activities that must take place to produce the product – inbound logistics, production, shipping, marketing and product service. o Support activities sustain primary activities. These include human resource management, legal and accounting work, finance. c. Evaluation and Control—is concerned with how well the firm’s strategies are working and making adjustments to meet changing conditions. i. Evaluation— comparison of actual outcomes with expected outcomes. ii. Control— adjustments, as needed to either the plan or the implementation. iii. Balanced Scorecard is a tool for evaluation and to define issues to be considered for adjustment. (see figure 2.9) VI. The Next Steps in Integrating MTI and Strategy a. Major Questions—Two questions for managing technology strategically i. Should a firm create its own new technology and innovations within the firm? 2-9
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ii. Or, should technology be acquired from others through acquisitions or strategic alliances? 2-10
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