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Summary and collage notes Strategic Management
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Summary and collage notes of the subject Strategic Management. To help you get the best grade.
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Strategic ManagementTopic 1
1.1 Origin of Strategic Management and strategic attitude
Verschillende soorten omgevingen:
Stable environment Turbulent environment
Simple Complex
Static Dynamic
Without uncertainly With uncertainly
Stable environment and efficiently
Turbulent environment and efficacy
Strategic attitude
Karakter eigenschappen:
- Extrovert
- Anticipatory
- Proactive
- Open to change
- Critic
Definitie
Verschillende beslissingen die een bedrijf neem ten implementeert om beter te worden.
Components of stratigy
- Activity area
- Capabilities
- Competitive advantage
- Synergy
Activity area/scope à business (products + markets) (apple lanceerde hun eerste laptop, dus hun
eerste business en dat is technologie.
Products àtechnology + needs
(= industry)
Market à segment
à geographic
à type of client or user cage, gender)
Demographic character
B2B/B2C
Business to business
Business to consumer
1 product is een business (Laptop)
2 producten zijn 2 businesses (Laptop + telefoon)
1
,Dynamic vision of the activity arena: Ansoff growth vector, 1944
Products
Existing New
Existing Market Product
Markets
penetration development
New Market Diversification
development
Tridimensional model, Abell, 1980 (different way of the activity arena/scope)
- Functions (F)
- Technologies (T)
- Groups of clients (GC)
1.2 Capabilities of a company
Establishes boundaries to the field of current and future performance of the company, the group or
portfolio of businesses or activities in which it operates and wants to operate
Business = Product + Market
Product = Technology (way to do things) + Needs (covered) • Market = Segment and geography
Dynamic perspective: Ansoff Growth Matrix (1965)
With the choice of its activity arena the company tries to determine where to compete
They are generated from the company’s resources and present and potential capabilities in the
company.
Competitive
advantage
Resources and
capabilities
Resources Capabilities
Personal Organizaction
Tangible Intangible
characteristics al systems
Human
Physical, capital,
financial reputation,
patents
Competitive advantage
Originated by the key distinctive capabilities that allow a company to reach an advantageous position
with respect to its competitors
Offering products or services differentiated from their competitors: Competitive Advantage in
Differentiation.
When a company offers a product or service that the buyer perceives as unique in any of the
attributes that define it and that allows setting a price higher than the cost of differentiation, or
differentiation premium
2
,Offering products or services at lower costs compared to its competitors: Competitive Advantage in
Costs.
When a company has a cost structure lower than that of competitors for a similar product or service
or comparable in quality; the factors that can contribute to it, for example Economies of scale,
Experience and learning effects.
With the configuration of its distinctive capabilities and its competitive advantage, the company tries
to determine how to compete
Concept of synergies
Fundamental characteristic of the systems by which the result of the parts integrated in the system
as a whole is different from the aggregate result that they offer separately 2 + 2 = 4
Component of the strategy that allows improving the management by coordinating in a positive
synergistic way the choice of the Activity arena, the development of Distinctive Capabilities and the
development of the Competitive Advantage
Synergy means that we are able to create more, the added value. Value we have when we are
collaborating. When you collaborate you can make something what is better when you do it alone.
When you work together it is better than when you work alone.
1.3 The strategic process
3
, 1.4 Levels of strategy and Strategic Business Units
Strategic levels
CORPORATE STRATEGY: Tries to define the relationship of the company with its environment based
on the specification of the activity arena and the distinctive capabilities required for it
BUSINESS STRATEGY: Tries to define how to compete and the distinctive capabilities necessary to
establish a position of advantage in each of the businesses
FUNCTIONAL STRATEGY: Tries to define how to best use resources and capabilities within each
functional area
4
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