Zusammenfassung der Ressource
Week 5 & 6
- Porters generic series
- Competitive stratergy
Anmerkungen:
- How a business achieves competitive advantage in its industry
- Competitive advantage
Anmerkungen:
- How a company makes its results better than that of competitors.
- Focus strategy
Anmerkungen:
- Focuses on a clearly defined niche of customers and identifies their needs.
- Price based strategy
Anmerkungen:
- No frills strategy where low price means low quality/percieved value to customers. Buyers have high power.
- Hybrid strategy
Anmerkungen:
- seeks to differentiate product/service and offer lower price than competitors.
- Differentiation strategy
Anmerkungen:
- To create a higher perceived value of product/service so can justify higher price.
Often will have to choose between expansion and targeting of smaller market.
- Stratergy lock in
Anmerkungen:
- When locked into one supplier due to high switching costs. e.g windows and its opperating system, cheap razors with only one type of blade can be used.
- Interactive strategy
Anmerkungen:
- Strategy changes based on how competitors are performing and their current strategy. Constantly changing.
- Strategic drift
Anmerkungen:
- Strategies that tend to develop based on historical and cultral trends
- Strategic flux
Anmerkungen:
- Stratergy changes but with no clear direction, conflict within firm, drop in performance and customer service
- Organisational culture
Anmerkungen:
- How a firm is percieved. Functions staff attitudes affected by structure, layers of culture, Values, beliefs, behaviours, paradigm.
- Linked to stratergy
Anmerkungen:
- Can be a glue if widely accepted, can encourage or hinder innovation
- Formal vs Informal
- Optimal when?
Anmerkungen:
- 1. Match culture and strategy
2. Focus on a few critical behaviour shifts
3. Honour the strengths of your existing culture
4. Intergrate formal and informal interventions
5. Measure and monitor cultral evolution.