The influence of complementors on an industryare dependant on:othe ability to integrate backwards or forwards to replace the complementary itemoavailability of substitute complementsobuyer 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 ProcessoPlanning involves looking at the past and assuming past patterns will continue into the future. This is because:oIt is easier to examine the past than forecast the future.oThe firm may have been successful in the past and is banking that the past will repeat itself leading to future success.oCorporate leaders succeeded by doing certain things in the past and they hope to continue this.oIt is important for the firm to gain the best possible estimate of the future and base strategic plans on theseestimates.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 plan2.When to do it—when priorities dictate3.How to do it—make or buy2-8
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4.Who will do it—us, them or combinationii.Common implementation concerns1.Structure2.Personnel issues such as hiring, job assignments, training, development3.Decision making4.Communication to whom, how, when, etc.5.Culture of the firm—norms and values6.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 oPrimary activities include major activities that musttake place to produce the product – inbound logistics, production, shipping, marketing and product service.oSupport activities sustain primary activities. Theseinclude 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 Strategya.Major Questions—Two questions for managing technology strategicallyi.Should a firm create its own new technology and innovationswithin the firm? 2-9
ii.Or, should technology be acquired from others through acquisitions or strategic alliances?2-10
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