Short and complete summary of lecture slides with personal notes. All you need to know for the final exam. With this note, I got 16/20 for the exam.
Short and complete summary of lecture slides with personal notes. Everything you need to know before the final exam. With this note, I got 16/20 fo...
,THEME 1: WHAT IS STRATEGY AND WHY IS IT IMPORTANT? ..............................................................................................................5
NETFLIX – AN AI DRIVEN COMPANY (**) ......................................................................................................................................................... 5
COMPETITIVE ADVANTAGE ............................................................................................................................................................................ 5
SUSTAINABLE COMPETITIVE ADVANTAGE.......................................................................................................................................................... 5
BUILDING COMPETITIVE ADVANTAGE – STRATEGIC APPROACH CHOICES .................................................................................................................. 5
REALIZED (CURRENT) STRATEGY IS A BLEND OF .................................................................................................................................................. 5
HONDA (**) .............................................................................................................................................................................................. 5
BUSINESS = VALUE CREATION/ VALUE-BASED STRATEGY ..................................................................................................................................... 6
WHAT IS STRATEGY ABOUT? (**) ................................................................................................................................................................... 6
WHAT MAKES A STRATEGY LIKELY TO BE SUCCESSFUL? ......................................................................................................................................... 6
INGREDIENTS OF SUCCESS ............................................................................................................................................................................. 7
THE BUSINESS MODEL (**) ........................................................................................................................................................................... 7
AN EXAMPLE: INTEL BETWEEN 1973 AND 2003 ............................................................................................................................................... 8
THEME 2: EXTERNAL INDUSTRY ANALYSIS .........................................................................................................................................8
LEADERS CRAFTING STRATEGY ........................................................................................................................................................................ 8
WHAT IS THE STRATEGIC SWEET SPOT? ............................................................................................................................................................ 8
NIKE VS ADIDAS .......................................................................................................................................................................................... 8
HOW TO CRAFT A STRATEGY? ......................................................................................................................................................................... 9
WHO IS INVOLVED IN STRATEGY-MAKING?........................................................................................................................................................ 9
AMBIDEXTERITY AND TESLA (**) ................................................................................................................................................................... 9
INDUSTRY EVOLUTION .................................................................................................................................................................................. 9
THE DIFFERENCE BETWEEN MANAGER AND LEADER (*) ..................................................................................................................................... 10
AN INDUSTRY OR EXTERNAL ANALYSIS ........................................................................................................................................................... 10
WHY INDUSTRY MATTERS (**)..................................................................................................................................................................... 10
THE COMPONENTS OF AN ORGANIZATION'S MACRO ENVIRONMENT ..................................................................................................................... 10
ANALYZING THE INDUSTRY – 5 COMPETITIVE FORCES OF MICHAEL PORTER ........................................................................................................... 11
COMPLEMENTS VS SUBSTITUTES ................................................................................................................................................................... 11
PEST ANALYSIS OF INDUSTRY - DRIVERS OF INDUSTRY DEVELOPMENT (**) .......................................................................................................... 11
RISK FACTOR (**) ..................................................................................................................................................................................... 12
WHICH ONE WILL YOU INVEST IN: DREDGING FIRM OR THE PHARMA FIRM (*)........................................................................................................ 12
GUCCI CASE (**) ...................................................................................................................................................................................... 13
RYANAIR (**) .......................................................................................................................................................................................... 14
WHY AFTER COVID, THE RELIABILITY THAT RYANAIR WAS FAMOUS FOR IS NOT TRUE ANYMORE TODAY? (*) ................................................................ 14
INDUSTRY DYNAMICS ................................................................................................................................................................................. 14
IF WE ARE GOING TO HAVE AUTONOMOUS DRIVING CAR, ARE YOU EXPECTING NEWCOMERS? (*) .............................................................................. 14
IMPORTANCE OF AI FOR HUMAN CAPABILITY ................................................................................................................................................... 15
THEME 3: INTERNAL ANALYSIS ........................................................................................................................................................ 15
INDICATORS OF STRATEGIC SUCCESS............................................................................................................................................................... 15
RESOURCES (**)....................................................................................................................................................................................... 15
CAPABILITIES (**) ..................................................................................................................................................................................... 15
WHAT ARE THE ORGANIZATION’S COMPETITIVELY IMPORTANT RESOURCES AND CAPABILITIES? .................................................................................. 15
PUTTING RESOURCE AND CAPABILITY ANALYSIS TO WORK ................................................................................................................................... 16
RESOURCE AND CAPABILITY ANALYSIS (**)..................................................................................................................................................... 16
INSIDE-OUT AND OUTSIDE-IN APPROACH OF STRATEGY ...................................................................................................................................... 16
SUSTAINABILITY OF COMPETITIVE ADVANTAGE ................................................................................................................................................. 16
DUCATI VS HARLEY DAVIDSON (**) .............................................................................................................................................................. 17
THEME 4: POSITIONING IN THE INDUSTRY - RED OCEAN STRATEGY ................................................................................................. 17
DIFFERENCE BETWEEN INDUSTRIES, MARKETS AND BUSINESSES (**) .................................................................................................................. 17
COMPETITIVE ADVANTAGE BASED ON 3 VALUE DISCIPLINES ............................................................................................................................... 18
COMPETITIVE ADVANTAGE THROUGH POSITIONING ......................................................................................................................................... 18
1
, COST LEADERSHIP (**)............................................................................................................................................................................... 19
DIFFERENTIATION (**) ............................................................................................................................................................................... 19
OVERVIEW STRATEGIES-COMPETITIVE ADVANTAGE .......................................................................................................................................... 20
THE EMERGENCE OF COMPETITIVE ADVANTAGE .............................................................................................................................................. 20
COMPETITIVE ADVANTAGE CAN BE DUE TO POSITION OR TO INDUSTRY ATTRACTIVENESS (*) ...................................................................................... 21
SEGMENTATION STRATEGIES – NESPRESSO (**) .............................................................................................................................................. 21
ZARA (**) .............................................................................................................................................................................................. 21
What is unique value proposition of ZARA? (**) .............................................................................................................................. 21
Is ZARA competing with Massimo Dutti? (**) .................................................................................................................................. 22
Why customers in Japan have to pay more than other countries? .................................................................................................. 22
How ZARA dealing with e-commerce? Can ZARA adapt online shopping? (*) ................................................................................. 22
VICTORIA SECRET (**) ............................................................................................................................................................................... 22
Explain the strategy and how they rebranded ................................................................................................................................. 22
RENOVO (**)........................................................................................................................................................................................... 22
Explain how toilet paper can follow differentiation strategy ........................................................................................................... 22
FIVE TESTS OF A GOOD STRATEGY (**) ........................................................................................................................................................... 23
What are the major variables of a good strategy? /How do you describe a good strategy? .......................................................... 23
ZIPCAR (**) ............................................................................................................................................................................................. 23
WHIRLWIND WHEELCHAIR (**) ................................................................................................................................................................... 24
TOMMY HILFIGER (*) ................................................................................................................................................................................ 24
IKEA (**) ............................................................................................................................................................................................... 24
What is network strategy of Ikea? ................................................................................................................................................... 25
NEW MARKETS CREATED THROUGH INNOVATION............................................................................................................................................. 26
SWATCH GROUP (**) .............................................................................................................................................................................. 27
THEME 5: BLUE OCEAN STRATEGY & NON-DISRUPTIVE STRATEGIC INNOVATION ............................................................................ 27
DIFFERENCES BETWEEN RED OCEAN STRATEGY AND BLUE OCEAN STRATEGY ......................................................................................................... 27
THE THREE TIERS OF NON-CUSTOMERS .......................................................................................................................................................... 27
SHIFTING THE FOCUS OF STRATEGY ............................................................................................................................................................... 27
NETJETS ................................................................................................................................................................................................. 28
BODY SHOP ............................................................................................................................................................................................. 28
THE FOUR-GRID FRAMEWORK TO UNDERSTAND BLUE OCEAN (**) ...................................................................................................................... 28
WHY CHOOSING POSITIONING OR BLUE OCEAN (**) ....................................................................................................................................... 29
CIRQUE DU SOLEIL (**).............................................................................................................................................................................. 29
The four-grid framework .................................................................................................................................................................. 29
YELLOW TAIL (**)..................................................................................................................................................................................... 30
ZWIFT VIRTUAL BIKING (**) ...................................................................................................................................................................... 31
NON-DISRUPTIVE STRATEGIC INNOVATION ..................................................................................................................................................... 31
THEME 6: GAME CHANGING INNOVATION ...................................................................................................................................... 32
IBM (**) ................................................................................................................................................................................................ 32
What is IBM doing? / What is IBM standing for? ............................................................................................................................. 32
Why did IBM sell PC business to Lenovo just $B2.7? ........................................................................................................................ 32
ADVANTAGE OF FIRST MOVER – AMAZON ..................................................................................................................................................... 32
Which first-mover advantages did Jeff Bezos have in starting Amazon.com? ................................................................................. 32
What first-mover disadvantages did Bezos have to watch for after starting Amazon.com? ........................................................... 32
Why was the learning curve so steep for Amazon.com? .................................................................................................................. 32
Why stock price of Amazon so high? (*) .......................................................................................................................................... 32
Why Amazon bought the physical whole food business? (*) ........................................................................................................... 32
Example that the first mover does not always succeed – Sony eReader vs Kindle (*) ...................................................................... 33
STRATEGIC INNOVATION TYPES / CHANGES AFFECTING INNOVATION ..................................................................................................................... 33
NOKIA VS BLACKBERRY VS IPHONE................................................................................................................................................................ 33
A JOB TO BE DONE (**) .............................................................................................................................................................................. 33
INTERNET OF THINGS (IOTS) ....................................................................................................................................................................... 33
2
, MEMBERSHIP MODEL OR SHARING MODEL ................................................................................................................................................... 34
FREEMIUM MODEL .................................................................................................................................................................................... 34
STITCH FIX (**) ........................................................................................................................................................................................ 34
THE COMPARATIVE ADVANTAGES OF HUMANS AND COMPUTERS.......................................................................................................................... 34
RISKS AND BAD SIDES OF AI ......................................................................................................................................................................... 35
HOW TO COMPETE IN INDUSTRY 4.0 ............................................................................................................................................................. 35
THEME 7: A GLOBAL STRATEGY FOR INTERNATIONAL EXPANSION ................................................................................................... 35
WHY COMPANIES DECIDE TO ENTER FOREIGN MARKETS (**) .............................................................................................................................. 35
WHY ENTERING FOREIGN MARKETS IS DIFFICULT/ MAKES STRATEGY MORE COMPLEX (**) ........................................................................................ 35
DIFFERENCE BETWEEN COMPETITIVE ADVANTAGE AND COMPARATIVE ADVANTAGE (**) ........................................................................................... 36
HOW YOU CAN GO GLOBAL.......................................................................................................................................................................... 36
WHY DOES MICROSOFT ACQUIRE GAME COMPANIES? (*)................................................................................................................................. 36
COMPETING INTERNATIONALLY: THE THREE MAIN STRATEGIC APPROACHES (*) .................................................................................................... 36
VINTED (*)(MINOR QUESTION SOMETIMES BE ASKED) ...................................................................................................................................... 37
M&A of United Wardrobe by Vinted: Transnational, Global or Multidomestic? .............................................................................. 37
Why Vinted acquired United Wardrobe, is it fit? Is it a global/multidomestic/transnational strategy? .......................................... 37
BUILD COMPETITIVE ADVANTAGE IN INTERNATIONAL MARKETS.......................................................................................................................... 37
THE BENEFITS OF A GLOBAL STRATEGY............................................................................................................................................................ 37
THEME 8: A CORPORATE STRATEGY BEYOND STRATEGIC UNITS ....................................................................................................... 37
DIFFERENCE BETWEEN SCOPE AND SCALE (**) ................................................................................................................................................ 37
DEFINING THE SCOPE OF THE FIRM’S OPERATIONS ........................................................................................................................................... 37
THE DIMENSIONS OF FIRM SCOPE ................................................................................................................................................................ 37
HORIZONTAL M&A STRATEGIES ................................................................................................................................................................... 37
BENEFITS OF INCREASING HORIZONTAL SCOPE ................................................................................................................................................ 38
STRATEGIC ALLIANCE AND JOINT VENTURE ...................................................................................................................................................... 38
BENEFITS OF STRATEGIC ALLIANCES .............................................................................................................................................................. 38
DIFFERENCE BETWEEN “CORPORATE STRATEGY” AND “BUSINESS STRATEGY”.......................................................................................................... 38
CHALLENGES FACED BY MULTI-BUSINESS GROUPS ............................................................................................................................................. 38
OPTIONS TO IMPROVE CORPORATE PERFORMANCE ........................................................................................................................................... 38
BREAK-UP VALUE AND ENTERPRISE VALUE (*) ................................................................................................................................................. 39
SIX WAYS TO CREATE SYNERGY ...................................................................................................................................................................... 39
CORPORATE CENTER OR SUPERSTRUCTURE HAS FIVE MAIN TASKS ......................................................................................................................... 39
SYNERGY (1+1=3) .................................................................................................................................................................................... 39
SYNERGY KILLERS (**)................................................................................................................................................................................ 39
BOSTON CONSULTING GROUP MATRIX AND GE MCKINSEY MATRIX (**) ............................................................................................................ 39
Boston Consulting Group Matrix ...................................................................................................................................................... 40
GE McKinsey Matrix ......................................................................................................................................................................... 40
SCOPE – DIFFERENTIATION VS DIVERSIFICATION (**) ....................................................................................................................................... 40
1. Differentiation .......................................................................................................................................................................... 41
2. Diversification .......................................................................................................................................................................... 41
DOES IT MAKE SENSE FOR COCA COLA TO ACQUIRE CANS MANUFACTURERS? (*) ................................................................................................... 41
PORTFOLIO ORGANIZATION AND INTEGRATED ORGANIZATION ............................................................................................................................. 41
ECONOMIES OF SCOPE VS ECONOMIES OF SCALE (**) ....................................................................................................................................... 42
THEME 9: STRATEGY AND SUSTAINABILITY ...................................................................................................................................... 42
INTERDEPENDENCY OF BUSINESS, GOVERNMENT AND CIVIL SOCIETY..................................................................................................................... 42
DEFINITION OF CSR (*) ............................................................................................................................................................................. 42
NIKE SWEATSHOP CASE ............................................................................................................................................................................... 43
STAKEHOLDER VERSUS SHAREHOLDER MODEL (*) ........................................................................................................................................... 43
ALIGNING OBJECTIVES OF STAKEHOLDERS WITH (LONG-TERM) SHAREHOLDERS ...................................................................................................... 43
THE FIRST BIG QUESTION FOR THE BOARD ....................................................................................................................................................... 44
NOVO NORDISK WAY ................................................................................................................................................................................ 44
3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller juliek. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.22. You're not tied to anything after your purchase.
