Samenvatting Strategisch Management. Opleiding: master organisatie en management. Academiejaar - eerste semester. Lesgever: Peter Verhezen. Samenvatting van slides met extra uitleg - uitleg van grafieken etc.
Summary Strategic Management. Course: master's degree in organisation and management. ...
3.5 A case ............................................................................................................................... 36
4 Theme 4: Generic strategies & Competitive advantage through positioning (positioning
in the industry)............................................................................................................................... 36
4.1 Positioning adopting to existing structure.......................................................................... 36
What is the essence of Strategic thinking & implementation?
Business is about solving a problem/challenge and how u deal with competitors. The start of
a new business is often a reaction to a competitor and their poor treatment of their customers
ex. Netflix
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
But even more importantly: being unique (on your own terms) that allows you to deliver value to
customers who are willing to pay a proper price for your value proposition.
(Sometimes it’s easier being unique because u don’t have any competition)
1.2 Competitive advantage
Competitive Advantage
Meeting customer needs more effectively, with products or services that customers value
more highly, or more efficiently, at lower cost (in comparison with the company’s competitors)
Sustainable Competitive Advantage
Giving buyers lasting reasons to prefer a firm’s products or services over those of its
competitors
Strategic approach choices:
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Building Competitive Advantage
Differentiation on Focus on
Low-cost provider Focus on cost
features differentiation
market niche
market niche
- Low-cost provider vb. Aldi, Tesco
- Differentiation on features vb. Tesla, Porsche
1.3 The evolving nature of an organization’s strategy
Realized (current) strategy is a blend of:
- Proactive (deliberate) strategy elements that include both continued and new initiatives. You,
as an organization, come up with new ideas to fulfill needs the customers didn’t even know
they had.
- Reactive (emergent) strategy elements that are required due to unanticipated competitive
developments and fresh market conditions. Your organization for example follows the
competition.
Deliberateness vs. Emergence
EXAMPLE: HONDA IN THE USA IN 1950
Intended strategy: Honda tried to enter the US market in the 1950 wanting to compete with
Harley Davidson with their 150cc motorbike
Deliberate strategy: In this stage: what has been planned will be materialized. Turns out Honda
couldn’t compete with the Harley Davidson motorcycle because of multiple reasons (ex. it was not
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accustomed to the Californian weather). Honda needed to change their intended strategy to remain
relevant.
Realized strategy: A series of events made it so that a different type of Honda motor would be much
more to the liking of the US market. Honda switched up their strategy and became popular in the
US.
1.4 Businessmodel elements
The Customer Value Proposition
- Satisfying buyer wants and needs at a price customers will consider a good value.
- The greater the value provided (V or WTP) and the lower the price (P), the more attractive
the value proposition is to customers
The Profit Formula
- Creating a cost structure that allows for acceptable profits, given that pricing is tied to the
customer value proposition.
o V—the value provided to customers (V or WTP)
o P—the price charged to customers
o C—the firm’s costs
- The lower the costs (C) for a given customer value proposition (V–P), the greater the ability
of the business model to be a moneymaker.
Business = value creation
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