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PowerPoint presentation describing how a company competes in a particular business & explains how a company can gain a competitive advantage using a distinctive way of competing.
Characteristics of Competitive Strategies How to Devise Your Sustainable Competitive Advantage ………................ Slide 3 – 7 Strategic Questions ……………. Slide 8 – 18 Guidelines for Planning ........ Slide 19 – 25 Table of Contents How to Devise Your Sustainable Competitive Advantage Your Sustainable Identify your Competitive Advantage Company’s capabilities that cannot be Gives you the focal point of your strategy duplicated by your competitors: Break them out into • Tangible capabilities • Intangible capabilities Tangible Intangible Rights to intellectual Strong Brands property Leadership Tact & knowledge Exclusive licenses Skills Statutory monopolies Teamwork Solid Organizational Culture Business processes that are clearly defined Strong Partnerships Your Sustainable Competitive Advantage Identify your Company’s Your Sustainable Competitive Advantage capabilities that can be replicated by your Gives you the focal point of your strategy competitors: • Explicit knowledge • Financial capabilities • Marketing capabilities • Non-exclusive licensure • Technical capabilities Identify strategic ways Your Sustainable to further develop: Competitive Advantage • A stronger customer Gives you the focal point of focus your strategy • A more dynamic strategy that is innovative • Competencies • Capabilities • Newly structured organizational procedures Strategic Questions & Variables Strategic What does the competitive Questions to Ask environment look like globally? What have my competitors done over the past 3 years? What impact has my business had on my competitors over the past 3 years? How can they attack me going forward? How can my business get an advantage over my competitors? Strategic Your Competitive Variables Strategies Winning & Retaining Customers Building Your Competitive Advantage Basic Requirements • Your strategy for staying alive • Your market leadership strategy • Targeting market leadership Your Competitive Strategies Customer Value Proposition • Low cost/benefit ratio • Create higher customer value • Create better customer positioning Marketing Strategy • Mass marketing • Product differentiation Winning & Retaining Customers Customer Satisfaction • Customer Service • Customer intimacy • Value innovation Winning & Retaining Customers Product/Service Innovation • New Attributes • New Line Extensions • New Product Categories • New Brands • Increased Speed Winning & Retaining Customers Strategic Growth Focus • Building Resources • Building Distinctive Capabilities Innovation • Linear • Systematic Building Your Competitive Advantage Technology Innovation • Incremental Innovation • Radical Innovation • Venture Strategies Building Your Competitive Advantage Process Innovation • Functional Improvements • Enterprise-wide Business Process Management Building Your Competitive Advantage Business Innovation • Perfecting the Traditional Business Model • Adaptability • Creating New Business Models Building Your Competitive Advantage Guidelines for Planning Which industry will help me achieve more of a competitive edge? An individual (the general public at large) A business A governmental agency Your co-worker Identifying Your Customers Retail & Wholesale Industries Structural Analysis Individual Consumers Buy Department store Retail When the general public at large buys goods, they usually buy them Gas station from retail establishments. Internet Supermarket Retail Consumers Other businesses Buy Wholesale Government agencies Institutions Universities Hospitals Retail Establishment Goods Purchases Retail establishments and other businesses will purchase goods Equipment and services either for their own use or for resale to consumers. Motor vehicles Office supplies Consumers of wholesale trade firms buy goods to make other products: • Equipment • Motor Vehicles • Office Supplies • Bicycle parts Wholesale Trade Firms Characteristics of Competitive Strategies • Office Supplies • Bicycle parts Wholesale Trade Firms Characteristics of Competitive Strategies
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