Samenvatting van de volledige cursus op basis van de notities en slides voor het vak Strategisch Management (D0S01a), gegeven door Professor Bruno Cassiman in de 2e master Handelsingenieur.
KU Leuven
Master Handelsingenieur in de Beleidsinformatica
Rik Teugels
,TABLE OF CONTENTS
0 Syllabus: .......................................................................................................................................... 4
1 Introduction: what is Strategy? ...................................................................................................... 5
1.1 What is Strategy?................................................................................................................... 5
1.1.1 Definition ........................................................................................................................... 5
1.1.2 Choice of a Future ............................................................................................................. 6
1.1.3 Characteristics ................................................................................................................... 6
1.1.4 Which decisions are Strategic? ......................................................................................... 6
1.1.5 Who does what for strategic decision-making?................................................................ 7
1.2 Mandatory Readings.............................................................................................................. 7
1.2.1 CR01: Strategy and the Business Landscape ..................................................................... 7
1.2.2 CR02: Porter – What is Strategy? ...................................................................................... 8
1.2.3 CR03: Collis & Rukstad – Can You Say What Your Strategy Is? ......................................... 8
2 Value Creation & Value Capture ................................................................................................... 10
2.1 Fundamental questions ....................................................................................................... 10
2.1.1 Is value created by the business?.................................................................................... 10
2.1.2 Is value captured by the business (relative to the capital invested)? ............................. 10
2.1.3 Is value captured sustained by the business (relative to the capital invested)? ............ 12
2.2 Mandatory Readings............................................................................................................ 13
2.2.1 CR04: Branderburger Stuart ............................................................................................ 13
2.2.2 CR05: Koller – Chapter 3 ................................................................................................. 13
2.2.3 CR05: Koller – Chapter 5 ................................................................................................. 14
2.2.4 CR05: Koller – Chapter 6 ................................................................................................. 14
3 The Competitive Landscape .......................................................................................................... 15
3.1 Industry Attractiveness........................................................................................................ 15
3.2 Porter’s 5-Forces Model ...................................................................................................... 15
3.3 Mandatory Readings............................................................................................................ 17
3.3.1 CR06: Strategy and the Business Landscape ................................................................... 17
3.3.2 CR07: Porter – The Five Competitive Forces that Shape Strategy .................................. 17
4 Building Competitive Advantage................................................................................................... 19
4.1 Defining Competitive Advantage......................................................................................... 19
4.2 Types of Competitive Advantage......................................................................................... 19
4.3 Key Questions for Strategy .................................................................................................. 19
4.4 Define the Scope of your Business ...................................................................................... 20
4.4.1 Product & Customer Scope: Customer Specialization Focus .......................................... 20
1
, 4.4.2 Product & Customer Scope: Product Specialization Focus ............................................. 20
4.4.3 Product & Customer & Geographical Scope: Geographic Specialization Focus ............. 21
4.4.4 Product & Customer & Geographical Scope: Niche Focus .............................................. 21
4.4.5 Where you play ............................................................................................................... 21
4.5 Select the Activity set of your Business ............................................................................... 21
4.5.1 Catalog the firm’s analysis .............................................................................................. 21
4.5.2 Examine costs associated with activity ........................................................................... 23
4.5.3 Analyze how each activity generates WTP and try to understand differences in WTP .. 24
4.5.4 Consider changes in activities to widen the wedge between Costs and WTP ................ 24
4.6 Assemble the needed Resources and develop the key Capabilities ................................... 24
4.7 Set up the Business Model to link Value Creation and Value Capture and create a Virtuous
Cycle 26
4.8 Mandatory Readings............................................................................................................ 26
4.8.1 CR08: Strategy and the Business Landscape ................................................................... 26
4.8.2 CR09: Competing on Resources ...................................................................................... 26
4.8.3 CR10: Grant – Analyzing Resources and Capabilities ...................................................... 27
5 Sustaining Competitive Advantage ............................................................................................... 30
5.1 Understand the Sustainability of your Competitive Advantage .......................................... 30
5.1.1 Imitation .......................................................................................................................... 30
5.1.2 Substitution ..................................................................................................................... 31
5.1.3 Holdup ............................................................................................................................. 31
5.1.4 Slack................................................................................................................................. 32
5.2 Test your Strategy................................................................................................................ 32
5.2.1 Internal consistency – coherence ................................................................................... 32
5.2.2 External consistency – coherence ................................................................................... 32
5.2.3 Dynamic consistency ....................................................................................................... 33
5.3 Mandatory Readings............................................................................................................ 33
5.3.1 CR011 Strategy and the Business Landscape – Sustaining Superior Performance ......... 33
6 Putting it all Together: Testing your Strategic Thinking................................................................ 35
6.1 Mandatory Readings............................................................................................................ 35
6.1.1 CR12: Bradley – Have You Tested Your Strategy Lately? ................................................ 35
6.1.2 CR13: Why do so many strategies fail? – Collis............................................................... 35
7 Corporate Strategy ........................................................................................................................ 37
7.1 Corporate Strategy .............................................................................................................. 37
7.1.1 Building your Portfolio of Businesses and Defining your model for Corporate Advantage
38
2
, 7.1.2 Designing your Group and Organizing for Corporate Advantage ................................... 40
7.2 Conclusion ........................................................................................................................... 41
7.3 Mandatory Readings............................................................................................................ 41
7.3.1 CR14: Strategy and the Business Landscape – Choosing Corporate Scope .................... 41
7.3.2 CR15: Collis – Creating Corporate Advantage ................................................................. 43
8 Diversification Strategy ................................................................................................................. 44
9 Governance and Corporate Social Responsibility ......................................................................... 45
9.1 Mandatory Readings............................................................................................................ 45
9.1.1 CR17: The Social Responsibility of Business Is to Increase Its Profits ............................. 45
9.1.2 CR18: Porter – Creating Shared Value ............................................................................ 45
10 Strategy Process ............................................................................................................................ 47
10.1 Formulation and Execution ................................................................................................. 47
10.2 Management System ........................................................................................................... 47
10.3 Challenges/Baises in dealing with Execution ...................................................................... 47
10.3.1 Biases in Decision Making ........................................................................................... 47
10.3.2 Think about your Network .......................................................................................... 48
10.4 Mandatory Readings............................................................................................................ 48
10.4.1 CR19: Kaplan – Mastering the Management System ................................................. 48
11 Conclusion ..................................................................................................................................... 51
11.1 Drivers of Enterprise Value .................................................................................................. 51
3
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur rikteugels. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €10,46. Vous n'êtes lié à rien après votre achat.
