...Review of What Is Strategy Introduction The article---‘What is strategy’ is mainly concerned with exploring the definition of the strategy by distinguishing ‘operational effectiveness’ from ‘strategy’. To explore the real meaning of strategy, the author defines this term from three different perspectives: strategic position, trade-offs and fit. Main part Understanding of the article Some concepts of this article are based on theoretical foundations. Firstly, operational effectiveness is based on the Five Forces Frame Work (Porter, 2008), as its definition ‘performing similar activities better than rivals perform them’ (Porter, 1996) links with external environment, especially for the competitors. Another concept ‘strategic position’, performing different activities from rivals’ or performing similar activities in different ways (Porter, 1996), is related to RBV (Barney, 1991), because both them emphasize on the distinctiveness and uniqueness. The other two concepts ‘trade-offs’ and ‘fit’ are based on VRIO criteria (Barney, 2007), which is the basis of the company to generate sustained competitive advantage. The V of VOIR, value, is consistent with ‘trade-offs’, as they indicate that company should decide what to do and not to do. The ‘fit’ is line with the ‘I-inimitability’, since both of them stress that interlinkages among corporate activities makes difficult for organization to imitate. Wider context of strategy theory Besides, this article could also be...
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........................................................................ 5 2 Definition and Origin of Competitive Advantage .............................................. 6 3 Approaches and Methods to Achieve Competitive Advantages......................... 8 3.1 The Traditional Approach According to Porter ........................................... 8 3.1.1 Cost Leadership ................................................................................. 10 3.1.2 Focusing on Priorities ........................................................................ 10 3.2 Modern Approaches .................................................................................. 10 3.2.1 The Strategy as a Compilation of Simple Rules ................................ 11 3.2.2 The Blue Ocean Strategy ................................................................... 12 4 Ways to achieve Sustainable Competitive Advantage...................................... 13 5 Conclusion ........................................................................................................ 15 References ............................................................................................................. 16 3 Declaration We hereby declare that we have developed and written the enclosed term paper entitled „How Companies Could Achieve Sustainable Competitive Advantage” entirely on our own, and have not used outside sources without...
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...In the article “Blue Ocean or Fast Second Innovation? A Four Breakthrough Model to Explain Successful Market Domination”, Buisson and Siberzahn (2010) highlight how the theories of the first mover and fast second are recognized as the primary approaches to achieving innovation and domination in the market space. Buisson and Siberzahn (2010), insist that neither of these two theories can fully account for market domination and offer research and a comprehensive literature review that to suggest and explain the assertion that market domination is achieved by using four types of breakthroughs either concurrently or separately. The intent of this paper is to describe and highlight the shortcomings of the first mover and fast second theories as described by Buisson and Siberzahn (2010). Summarize their views of the four breakthroughs, review the literature provided, examine the methodology, and report the key findings of their article. The Problem With The First Mover Approach According to Buisson and Siberzahn (2010), neither first mover nor fast second innovation models can fully explain market domination by a company. The first mover approach is one in which the company enters the market, creates and dominates the new area (Buisson, B. & Siberzahn, P. 2010). Buisson and Siberzahn (2010) note that the first mover approach is on top of mind of business leaders due to the introduction of Kim and Mauborgne’s Blue Ocean Strategy (2004). Theoretically, blue oceans represent a sphere...
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...Analysis of the Use of the Blue Ocean Strategy; Case Study Analysis on 14 Different Agencies Zainal Abidin Mohamed, Graduate School of Management/ Faculty of Economics and Management Universiti Putra Malaysia E-mail: zainal@econ.upm.edu.my ABStrAct Fourteen companies who have applied the use of Blue Ocean Strategy (BOS) participated in this study through the case study approach. Basically, the data were focussed on the four action framework of BOS namely eliminate, reduce, raise and create activities (ERRC) identified in each of the cases. The 14 companies were grouped into 6 categories and their ERRC activities summarised accordingly. Of the 76 activities that were raised and created, 42 were customer related of which 9 were new. Of the 40 in the created category, 20 were totally new while 6 were on governance and 5 long term investment projects. Keywords: Blue Ocean Strategy, Eliminate-Reduce-Raise-Create Framework, Competitor Irrelevancy, Competitive Advantage, Introduction The Blue Ocean Strategy is still relatively new and had been introduced only in 2004 by W. C. Kim and R Mauborgne. Its principles are simple but its operationalisation and implementation has yet to be properly synchronized. Courses and workshops trained by licensed BOS are still going on and the number of certified BOS graduates has yet to be felt. Nevertheless there are already agencies that declared that they are already in the midst of applying the said BOS principles. These are the target group...
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...Gopakumar Nair GMITE 22 Jijo Mathew Rajesh Nair [pic] Executive Summary From the conception level to the launch of a product/service and then to sustain and enhance market acceptability, each product /service follows certain marketing techniques. Marketing strategies decide the futuresucess of a product, be it services or a new product, it is the strategies adopted to identify the customers, positioning and pricing of the product which determines the life of the product in the market. In this paper we have researched on some of the Innovative strategies successfully employed by automobile companies for new customer creation This document is a study about those marketing nuances which are required in the life cycle of every product /service. The three main marketing strategies that are discussed in this paper are Different marketing methodologies like A. traditional methodRed Ocean Strategy- Compete in the existing market space andB.. Blue Ocean strategy-Create uncontested market Space and C.Ccustomer co creation- Customers co-create...
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...senior executive members to refine but the responsibility of all to roll out. Included in the process is comprehensive environmental scanning, strategy formulation (strategic planning), strategy implementation, and monitoring. Students in this course will review how the strategic decision makers within an organisation first identify, define and analyse commercial problems and then develop practical and ethical solutions. It provides a practical guide for, and an initial experience in, strategy formulation and strategic management. Class time will be largely spent in lecture, discussion, case studies and experiential exercises. Students will learn from the theoretical literature, instructor, case studies, videos, research presentations, and from each other. The course materials explain and describe the different aspects, challenges, and stages of strategic management simply and clearly. Goals of the Course To examine and understand the nature and role of strategy, strategic management and strategic leadership within an organization. Learning Outcomes 1. To develop skills in strategic analysis, development and implementation. 2. To explore competing rationales relating to the nature and purpose of business. 3. To critically review the received wisdom on strategic management practice. 4. To review strategic decision-making practises in business. 5. To further develop the presentation skills required to effectively communicate strategic...
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...Administration Swiss Management University March 3, 2012 1 1. Introduction Developments over the last few decades have led to a new way of thinking in economic and management approaches. The scientific approach to management, which emphasizes the basic management functions of planning, organizing, leadership and control, now seems unable to explain the era of change that characterizes economies and organizations alike. This paper will focus on explaining the rational management model, focusing on ordinary management, and go on to discuss the new approaches such as chaos theory – also called complexity theory - and the need for extraordinary management and innovation. 2. Rational management Management and organization science literature have until recently focused on the objective control of agents and worked on the assumption that interactions can be described in linear terms (Webb, 2005). When difficult decisions have to be made, many managers and strategists rely on the economics view in which profit maximization is the guiding principle. Executives will us the rational model tools described above, and believe that precise solutions should be achieved through precise and calculated means (Washburn, 2011). This approach focuses on collecting data, and the analyzing the data to provide management options to evaluate and take decisions on (Parker&Stacey, 1994). This decision-making process depends on evaluating different options based on the data collected and environmental...
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...MKTG303 Marketing Strategy Analysis and Decisions Assessment Guide Session 1, 2015 Department of Marketing and Management ASSESSMENT OVERVIEW Assessment 1 (A1) Case Study: Individual Assessment (30%) The case facilitates the discussion of marketing problems in real situations. Each student is to individually conduct a case study analysis during the semester. You should read these cases carefully and come to class prepared to provide constructive input as the class works together to address the issues of the case. 1. Practice Cases (Not assessable but required for class discussion) There will be two practice case studies to be prepared before the relevant class and discussed during class. Participation in these cases is important and will greatly assist you in understanding how to prepare the three assessable cases. Practice Case 1: Discussion Week 2- Seminar 4 - Dr Pepper Snapple Group, Inc: Energy Beverages– Kerin & Peterson page 105. Case Questions: 1. How would you characterise the energy beverage category, competitors, consumers, channels, and DPSG’s category participation in late 2007? 2. Does your characterisation bode well for a new energy beverage brand introduction generally and for Dr Pepper Snapple Group, in particular? 3. What target consumer market should be chosen for a new energy beverage brand? 4. What product should be introduced and how should it be positioned/differentiated? 5. Through which channel(s) should a new energy beverage brand...
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...and dramatic overcoming of a perceived obstacle, allowing the completion of a process." But what really makes an innovation a breakthrough (radical, disruptive) one, rather than incremental, from a marketing point of view? According to Boston Consulting Group report, breakthrough innovations are defined as “innovative products that offer consumers significant new benefits through advances in technology, formulations, or applications or through more convenient packaging (Boston Consulting Group (BCG): A Disciplined Approach to Breakthrough Innovations). Christensen (1997) argues that a necessary condition for an innovation to be disruptive is that it “captures new markets in an original and unexpected way.” Academics of marketing literature differ in their opinion about a relationship between a significant new technology and disruptive innovation. Some authors believe that radical innovation goes hand-in-hand with a significant new technology (Veryzer et al. 1998, O’Conner et al. 1998). Although the notion that significant new technology is an unavoidable condition of radical innovation can be infirmed by Sony Walkman example. Sony Walkman was revolutionary in its product concept but fundamentally new technology was not used in its creation (Mascitelli 2000). Mascitelli in line with other authors (Lynch 1998)...
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......................6 Competing values ........................................................................................................7 Executive Teams..........................................................................................................8 Monitoring the Environment .........................................................................................9 Formulating and executing strategy ...........................................................................10 Conclusion .................................................................................................................12 1 Introduction The following assignment with the title “Strategic Leadership by Executives” will cover the integration of the executive theory in the strategic leadership theory. There are several important differences in the theory, which separates the executive leadership from other leadership. A first objective of this scientific paper is to give the reader a broad overview of the most important theories. Inserting the relevant literature and...
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...churning out new plans, for differentiated products and services, in order to compete in a dynamic environment. This chapter presents a brief overview of the various approaches to strategic planning and provides an overview of the planning literature. There is a lot of material to slog through, but each approach to planning has something to offer. This overview will set the stage for presenting the Ten–Ten planning process in the next chapter. The next chapter will integrate the various planning approaches and present a simplified, yet robust approach to planning called the Ten–Ten planning process. The key benefit of the Ten–Ten planning process is that it can be used for developing business plans in a very short time span. 8.1 Planning Concepts There are two generic planning strategies that a business can pursue.Michael Porter originally identified three generic strategies. He noted that a business can also focus on a market that is not very competitive. Most people consider this to be a special case of the other two strategies. See Porter (1980). It can strive to be efficient, it can differentiate, or both. In other words, a firm can focus on delivering Midas versions of products, Hermes versions of products, or both. A firm that employs a strategy of efficiency strives to be the low-cost producer and compete on the basis of charging less than the other...
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...NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA THESIS ANTHRAX VACCINE AS A COMPONENT OF THE STRATEGIC NATIONAL STOCKPILE: A DILEMMA FOR HOMELAND SECURITY by Thomas L. Rempfer December 2009 Thesis Advisor: Second Reader: Stanley Supinski Dean Lynch Approved for public release; distribution is unlimited THIS PAGE INTENTIONALLY LEFT BLANK REPORT DOCUMENTATION PAGE Form Approved OMB No. 0704-0188 Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instruction, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to Washington headquarters Services, Directorate for Information Operations and Reports, 1215 Jefferson Davis Highway, Suite 1204, Arlington, VA 22202-4302, and to the Office of Management and Budget, Paperwork Reduction Project (0704-0188) Washington DC 20503. 1. AGENCY USE ONLY (Leave blank) 4. TITLE AND SUBTITLE 2. REPORT DATE December 2009 3. REPORT TYPE AND DATES COVERED Master’s Thesis 5. FUNDING NUMBERS Anthrax Vaccine as a Component of the Strategic National Stockpile: A Dilemma for Homeland Security 6. AUTHOR(S) Thomas L. Rempfer 7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES) Naval Postgraduate School Monterey, CA 93943-5000...
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...TLFeBOOK Blue Ocean Strategy Blue Ocean Strategy How to Create Uncontested Market Space and Make the Competition Irrelevant H A R VA R D B U S I N E S S S C H O O L P R E S S BOSTON, MASSACHUSETTS ( ) ( ) ( ) ( ) ( W. Chan Kim Renée Mauborgne Copyright 2005 Harvard Business School Publishing Corporation All rights reserved Printed in the United States of America 09 08 07 06 05 5 4 3 2 1 No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher. Requests for permission should be directed to permissions@hbsp.harvard.edu, or mailed to Permissions, Harvard Business School Publishing, 60 Harvard Way, Boston, Massachusetts 02163. Library of Congress Cataloging-in-Publication Data Kim, W. Chan. Blue ocean strategy: how to create uncontested market space and make the competition irrelevant / W. Chan Kim, Renée Mauborgne. p. cm. Includes bibliographical references and index. ISBN 1-59139-619-0 (hardcover: alk. paper) 1. New products. 2. Market segmentation. I. Mauborgne, Renée. II. Title. HF5415.153.K53 2005 658.8 02—dc22 2004020857 The paper used in this publication meets the requirements of the American National Standard for Permanence of Paper for Publications and Documents in Libraries and Archives Z39.48–1992 To friendship and to our families, who make our worlds...
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...Chapter 1 Introduction Selling process involves making the customer understand what the product is and how can it be beneficial for the consumer. The process basically involves explaining the product feature and showing them the pros and cons. But when it involves selling a concept which hardly has anything tangible to show it turns out to be more troublesome. First understanding what a concept selling process is and then we understand it through an example of a concept called FTWZ (Free trade warehousing Zone) Concept Selling- A type of marketing that uses the idea that consumers left to their own devices are unlikely to purchase a particular product. The concept selling approach is often advanced by a business as a justification for being especially aggressive in their marketing campaigns to promote sales. Concept selling is simply taking a product and selling it on the basis of an idea, making it more palatable to the customer. It is painting a word picture to the prospect, letting them visualize a certain situation. Concept selling vs Product selling. So what is the big difference ! “The number one thing when using Concept selling vs Product selling is that it creates a form of communication that gets the prospects attention. You are communicating an idea that makes more sense for your prospect to understand and relate to. In other words, it becomes more palatable to the prospect.” FTWZ- Fee trade warehousing Zone A Free Trade & Warehousing Zones...
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...Design/methodology/approach – This paper analyzes the concepts of strategic positioning and sustainable competitive advantage and their interrelation. The qualitative study of three beverage producers is conducted. Cases are analyzed based on the theoretical models discussed in the first part of the paper. Findings - This paper provides comparison of positioning strategies and SCA of three international beverage producers. The theoretical framework on determinants of these concepts was developed and applied for case study. The concepts of SCA and SP are interchanging, but from the case study it was not possible to conclude whether one leads to another. There is no single theory found which would be universal in explaining the success of the brands. Companies are complex structures and their success depends on many different elements which should be analyzed in combination. Research limitations/implications – The findings are based solely on the case analysis of three unique beverage companies. To generalize conclusions the research of other companies in food industry on possession of SCA and their positioning strategies is needed. Not all firsthand information was possible to get from all companies. Therefore it cannot be guaranteed that factors beyond the scope of this study did not have an influence. Practical implications – The BIONADE and Supermalt brands represents an interesting cases for companies aiming to develop strong premium brands with a limited marketing budget for...
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