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
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