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Samenvatting & lesnotities Strategic management
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Samenvatting & lesnotities Strategic management
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Strategic ManagementProf. Dr. Peter Verhezen, 2021
1 Introduction
- Contact: Prof. Dr. Peter Verhezen
o peter.verhezen@uantwerpen.be
o +32 496 858463
o Values professional & personal growth, grounded in compassionate integrity. Lives
with his family part time in Bali, from where he travels to Jakarta-Singapore to advise
organizations and part time in Antwerp region where he teaches at the University
and B School.
o Bonus: he loves philosophy as well ☺
- Assistant: Maarten Thys
o maarten.thys@uantwerpen.be
o 4th floor in the C-Blok of the "stads-campus" - Prinsstraat 13, Antwerp
- Courses
o Tuesdays: 4 – 6 pm
o Wednesday: 5 – 7 pm
▪ However, some classes are cancelled: 27 oct (see BB)
1.1 Content of the course?
The material of the powerpoint presentations (including cases discussed in class) is the basis for
the oral final exam early January 2022.
- PPT put prior to the classes on BB
o In total: 10 themes
- Academic papers (“recommended papers” & “optional papers”)
o Summarized in the PPT
- Optional: book: Thompson, Strickland, Gamble, Peteraf, Janes & Sutton, (2013-2020),
Crafting and Executing Strategy. The Quest for Competitive Advantage, Berkshire,
McGrawHill
- Some slides are in the course, but not discussed during the class
o Is it necessary to know by heart?
Strategic Management
, 1.2 Evaluation
So, the PPT + the cases = the oral exam in January 2022. But what can you expect?
- 1) You get a sheet with 3 questions
o 1 hour to prepare
▪ you hand in the preparation sheet → this will be compared to what you’re
saying
o Duration of the exam itself: 15 mins
o There is NO right or wrong, as the future is uncertain
▪ Application of the theories is the most important
▪ Do not copy paste the theories!!
o The prof. will listen to you as a “director of the board”
▪ So, you need to know your course, but you should also be convincing as in
real life ☺
- 2) The prof. can ask you things like:
o “Why are you wearing these shoes?”, “why did you buy that?”, “what do you think is
the strategy of the company?”, “why do we choose NIKE and not Adidas?”
▪ The prof is interested in real life, not only in the theories: the application of
theories is even more important
▪ Give examples that make sense
Example questions
- What is the purpose of the business?
- Why are you wearing these shoes? Why did you buy these?
- What do you think is the strategy of company X?
- Why did you choose NIKE and not Adidas?
1.2.1 Happiness – when can we come happy?
- It’s when we’re social we can become happy, when we focus on the other; we’ll become a
happier person (cf. Levinas)
o Also applies to business: businesses that are focused on profitability of themselves
won’t be profitable in the long term. However, when they focus on the customer,
they can become more profitable. Therefore, profitability shouldn’t be the first goal
of a company, it should be about ‘creating value’.
Strategic Management
, Theme 1: What is strategy?
1 Case: NETFLIX
How did it start?
- Netflix was established as a reaction to Blockbuster (another streaming service)
- BB was charging a lot for ppl who handed in their DVDs late.
- As a reaction to this problem, Netflix was born.
- As Netflix is serving its customers well (no fines), they have become the biggest streaming
service in the world.
What is our present situation?
- Business environment and industry conditions
- Firm’s financial and competitive capabilities
Where do we want to go from here?
- Creating a vision for the firm’s future direction
How are we going to get there? Crafting an action plan that will get us there
1.1 Strategy is about …
1) How you deal with competitors
2) How you resolve a problem
1.1.1 Competition
Strategy is about competing differently from rivals—
- Doing what they don’t do or doing it better!
- Doing what they can’t do!
- Doing that which sets the firm apart and attracts customers.
- Deciding what we should or should not do to produce a competitive edge.
- Can be described as adopting a particular position
Competitve advanage
- Meeting customer needs more effectively, with products/Services that customers value more
highly or services that customers value more highly, or more effectively, at lower cost
Sustainable Competitve Advantage (cf. Apple)
- Giving buyers lasting reasosns to prefer a firms’ products/Services over those of its
competitors
Building Competitive
Advantage
Differentiation on Focus on differentiation Focus on cost market
Low-cost provider
features market niche niche
Realized (current) strategy is a blend of:
- Proactive (deliberate) strategy elements that include both continued and new initiatives.
Strategic Management
, - Reactive (emergent) strategy elements that are required due to unanticipated competitive
developments and fresh market conditions.
1.2 Deliberateness emergence
Deliberate & emergent strategy
1.2.1 Example: Honda CASE in USA in the 50s
Exam question: “Please explain me the HONDA case and the strategy?”
- Honda wanted to compete with Harley Davidson in the 50s (California)
- Deliberate strat: they exported their products in the US
o However, they did not gain any market share
o They couldn’t compete with HD. Why?
▪ Their bikes was not accostomed to the hot weather of California
- They continued for a year or two
- Emergent strategy: Japan introduced the electronic bike (which you can see in the slides)
o A store-manager of the US saw it and wanted to re-sell it immediately in their stores.
Strategy?
- Through pure luck + a good advertisement “this is a good bike for everyone: women and
men” (cf. VESPA) HONDA could become competitive for HD.
- It wasn’t according to the plan, but they did it (through adaptation/change).
- If you keep sticking to your plan, you’re not a good businessman!
How does science progress?
- Through trial and progress: you plan, but you adapt/change along the way.
Key of the story: 4 notions:
- Intented strategy: plan of action
- Deliberate strategy: unrealized strategy
- Emergent strategy:
- Realised strategy: pattern of action
They are all different! This needs to be explained for instance during the oral exam
Strategic Management
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