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Firm Theory Kim Valbum RUC MEA

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The art of war, especially the planning movements of troops and ships ... Porter's Generic Strategies. Features - Cost leadership and differentiation strategies ... – PowerPoint PPT presentation

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Title: Firm Theory Kim Valbum RUC MEA


1
Firm TheoryKim Valbum RUC MEA
  • Strategy

2
The common elements of successful strategies
3
Strategy as link between firm environment
4
Some definitions of strategy
  • The art of war, especially the planning movements
    of troops and ships etc. Into favorable
    positions plan of action or policy in business
    or politics etc. (Oxford dictionary)
  • The determination of the long-run goals and
    objectives of an enterprise, and the adoption of
    courses of action and the allocation of resources
    necessary for carrying out theses goals. (Alfred
    Chandler, MIT)

5
The evolution of Strategic Management
  • Period 1950s 1960s 1970s 1980s 1990s 2000
  • Dominant Budgetary planning Corporate Corporate
    strategy Analysis of The quest for Strategic
  • Theme and control planning industry
    competitive advantage innovation
  • competition
  • Main issues Financial control Planning Portfolio
    planning Choice of Sources of competitive Strategi
    c
  • through operating growth industries, advantage
    whithin organi-
  • budgets segments the firm zational
  • positioning advantages
  • Principal Financial budgeting Forecasting Synergi
    , SBUs, Analysis of Ressource analysis Dynamic
  • Concepts investment planning Investment Portfoli
    o planning matrices industry Analysis of core
    sources of
  • Techniques project appraisal planning Experience
    curves structure competences
    competetive
  • models Returns to market share Competitior
    advantage
  • analysis Control of standards
  • Knowledge learning
  • Organizational Financial management Rise
    of Diversification Greater Corporate
    The virtual
  • Implications is the key corporate Multidivision
    al structures industry restructuring
    organization

6
Sources of superior profitability
7
Level of strategy organization structure
8
Linking value drivers to performance targets
9
Balanced scorecard for Mobil
10
The companys dilemma
11
The Strategy Clock
12
The strategic window a visual metaphor for
entrepreneurs
  • Seeing the window scanning for new opportunities
  • Locating the window positioning the new venture
  • Measuring the window
  • Opening the window gaining commitment
  • Closing the window sustaining competitiveness

13
Strategic positioning Value addition in an
industry chain
  • The end consumer Goods available to consumer
  • Distribution and retail Goods promoted to
    consumer
  • Marketing Finished Goods
  • Manufacturing Refined raw materials
  • Secondary processing Raw materials
  • Primary processing Natural commodities
  • Extraction

14
General factors in market positioning
  • Price relative to competitors
  • Perceived quality value for money
  • Demographic imagery dynamic, up?
  • Performance
  • Number and type of features advanced or ?
  • Branding imagery
  • Service and support
  • Attitude towards supplier

15
Positioning of the ventures product
  • Functional core
  • Aesthetic attractions
  • Emotional benefits

16
The experience curve and technological innovation
17
Competitive advantage
18
Sustaining competitive advantage
19
Sources of competitive advantage
20
Porters Generic Strategies
21
Features - Cost leadership and differentiation
strategies
  • Generic strategy Key strategy elements Rersource
    organizational
  • requirements
  • Cost leadership Scale-efficient plants Access to
    capital
  • Design for manufacture Process engineering
    skillds
  • Control of overheads RD Frequent reports
  • Avoidance of marginal Tight cost control
  • customer accounts Specialization of jobs
    functions
  • Incentives for quantitative
    targets
  • Differentiation Emphasis on branding Marketing
    abilities
  • advertising, design, service, Product
    engineering skills
  • and quality Creativity
  • Research capability
  • Qualitative performance
  • targets incentives
  • Strong interfunctional coordinate
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