...The following is a highlighted summary of the book, Competing for the Future, published by Harvard Business School Publishing. The statements below are key points of the book as determined by James Altfeld and have been made available at no charge to the user. Competing for the Future By Gary Hamel and C.K. Prahalad Look around your company. Look at the high profile initiatives that have been launched recently. Look at the issues that are preoccupying senior management. Look at the criteria and benchmarks by which progress is being measured. Look at the track record of new business creation. Look into the faces of your colleagues and consider their dreams and fears. Look toward the future and regenerate success again and again in the years and decades to come. Now ask yourself: Does senior management have a clear and broadly shared understanding of how the industry may be different ten years from now? Are its headlights shining farther out than those of competitors? Is its point of view about the future clearly reflected in the company’s short term priorities? Is its point of view about the future competitively unique? Ask yourself: How influential is my company in setting the new rules of competition within its industry? Is it regularly redefining new ways of doing business building new capabilities, and setting new standards of customer satisfaction? Is it more a rule maker than a rule taker within its industry? Is it more intent on challenging the industry status quo...
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...westfarmers. What makes it worse is the announcement of intention of leave of Mr. Mcleod, who has been credited with the very successful turnaround of Coles business. The purpose of this report is to investigate any potential key challenges presently facing by the group by analysis of the industry and core competence and value chain of westfarmers. 2. Westfarmers background Westfarmers was established in 1914 as Western Australia farmers' co-operative. It is now one of the largest retailers and diversified publicly listed company in Australia. In 1984, when it was firstly listed on ASX, its market value was only $30 million, but by the end of 2008, it had a market capitalization grown to $25 billion. In fact, it has engaged an aggressive acquisition and diversification strategy since its establishment. Of those diverse business one of the most important businesses is the retail business including Coles and Bunnings. This leads to the major competitor of Westfarmers's, woolworths. Currently woolworths entered the home improvement retail market and makes the competition between westfarmers and woolworths more aggressive. 3. Industry analysis The key retail market westfarmers are now competing is the food retail market and home improvement retail market. Given the fact that the nature of both retail markets are pretty much the same both base on supermarket distribution approach), we decided to analyse them together as a whole in both macro- and micro-environment....
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...Product Quality Design Achievement 1 Product Quality Design Achievement: Evaluating Quality Approaches Term Paper by Will Pith PMAN 639 – Project Quality Management Professor University June 24, 2010 Product Quality Design Achievement Table of Contents 2 What is Product Quality................................................................................................................................ 4 Implementing Product Quality: Total Quality Management ........................................................................ 5 Implementing Product Quality: Core Competencies .................................................................................... 8 Implementing Measures to Improve Quality - Wolverhampton .................................................................. 19 Conclusion .................................................................................................................................................. 19 References ................................................................................................................................................... 20 Product Quality Design Achievement Introduction Product quality design can be an amorphous concept, even when it is thoroughly explained, with an abundance of examples. Part of the difficulty is the various arenas in which product quality is required. Construction, automobile manufacturing, and information systems 3 are just a couple of areas...
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...‘Building a durable corporation requires long-term goals as well as rules to channel investments and - initiatives toward the achievement of these goals. These rules- which I will call “strategy”- have several dimensions. A strategy defines in broad terms where and how the firm will seek to add value, the opportunities it will pursue, the breadth and attributes of the firm’s product lines, its pricing policies, distribution channels, technologies, R & D efforts, and so on.’ (Amar V., 2000 pg 265). ‘Broadly, strategies encompass the set of approaches that the company will use to achieve its objectives’ (Jobber and Lancaster, 2006 pg 49) A well defined strategy should therefore integrate decisions about; scope of the business, objectives, resource allocation, developing sustainable differential advantage and synergy. The importance of strategy in the achievement of business goals cannot therefore be over emphasized judging from the above features. Split into corporate and competitive strategies, the former determines the scale and scope of the business while the later determines the sustainability of the company in the ever dynamic and competitive business environment. Whether inward out (resource based) or outward in (market based), competitive strategy is cardinal to the continued existence if the firm. Since successful strategies are those which adapt firms to the opportunities and threats in their markets/environments and which develop their internal capabilities...
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...CHAPTER 6 Corporate-Level Strategies Learning Objectives CONTENTS After reading this chapter, you should be able to: Introduction 1. Understand corporate strategy and identify its components. Corporate Strategy 2. Evaluate and identify different approaches to corporate strategy development. The Portfolio Approach 3. Understand how organisations can create and sustain the multibusiness advantage. Corporate Strategy and Adding Value 4. Appreciate how different corporate strategies could add value to a corporation. 5. Appreciate the complexities of developing corporate strategy at the international level. The Core Competence Approach Creating and Sustaining the Multibusiness Advantage Corporate-Level Strategy in the International Perspective Summary Study Questions References and Further Readings 109 110 CHAPTER 6: Corporate-Level Strategies Opening Case The case study organisation is one of the largest international hotel chains operating in more than one hundred countries with its internationally recognised brands. However, the company does not have a culturally diverse workforce at the senior level. It usually recruits executives to the key decision-making positions either from the United Kingdom or the United States. In this respect, it is defined as Anglo-Saxon. Some people argue that the company should get the best from other nationalities involved in the development of an organisation’s strategy. Different...
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...Best of HBR DAVID J. COLLIS AND CYNTHIA A. MONTGOMERY Competing on Resources AS RECENTLY AS rate level. In the 1980s, it turned out that corporations were 10 years ago, we thought we knew most of often destroying value by owning the very divisions that had what we needed to know about strategy. Portfolio planning, seemed to fit so nicely in their growth/share matrices. Threatthe experience curve, PIMS, Michael E. Porter’s five forces – ened by smaller, less hierarchical competitors, many corporate tools like these brought rigor and legitimacy to strategy at stalwarts either suffered devastating setbacks (IBM, Digital, both the business unit and the corporate level. Leading comGeneral Motors, and Westinghouse) or underwent dramatic panies, such as General Electric, built large staffs that reflected transformation programs and internal reorganizations (GE growing confidence in the value of strategic planning. Stratand ABB). By the late 1980s, large multibusiegy consulting boutiques expanded rapidly ness corporations were struggling to justify and achieved widespread recognition. How EDITOR’S NOTE: This influential their existence. different the landscape looks today. The 1995 article (originally published Not surprisingly, waves of new approaches armies of planners have all but disappeared, as “Competing on Resources: to strategy were proposed to address these swept away by the turbulence of the past deStrategy in the 1990s”) intromultiple assaults on the premises of strategic...
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...boundaries of a single business or broaden their scope even further through venturing into other lines of business and becoming multi-business corporations. Vertical integration: when a firm enters other businesses upstream or downstream within its own industry column. It can strive for backward integration by getting involved in supplier businesses or it can initiate forward integration by entering the businesses of its buyers. Horizontal integration: if the firm integrate related businesses at the same tier in the industry column. (Horizontal) diversification: if a firm expands outside of its current industry. The issue of corporate configuration: the issue of deciding on the best array of businesses and relating them to one another. Determining this can be disentangled into two main questions: 1. What business should the corporation be active in? (corporate composition. 2. How should this group of business be managed? (corporate management). Corporate composition This can be divided into: - corporate scope (how many businesses) - corporate distribution (the relative size of the activities in each business are covered) A common way of depicting the corporate composition is to plot all of the businesses in a “portfolio matrix”. Portfolio: the set of business activities carried out by the corporation. The intention of a portfolio matrix is not merely to give an overview of the corporate scope and distribution. But also to provide insight...
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...analysis of the key factors of their company was compiled to find out what the eBay strategy is, and how they are doing financially. Also an internal analysis of their strengths and weaknesses and an external analysis of their opportunities and threats have been provided. Finally, a strength assessment of the main competitors in the online auction industry has been determined to see how strong each competitor is. From its beginning in a San Francisco living room, eBay has grown to be in a league by itself. Analysis of eBay’s Strategy and Business Model Before eBay could begin to compete in the online auction industry a strategy and business model needed to be developed (Appendix A). eBay had to define the businesses they would be competing in and how they would compete in those specific businesses. They also needed to define how they would be a successful service to their customers. Corporate level strategy eBay’s corporate level strategy was to become a diversified business. They wanted to diversify not only the products they offered but also their customer base and global reach. By using the eBay service you can find virtually anything you are looking for. Business Level Strategy eBay competes in the online auction industry using a broad differentiation strategy. Although they may not be the most inexpensive online auction site, they have the largest variety of products offered. They also appeal to a larger group of consumers that include individual sellers...
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...analysis of the key factors of their company was compiled to find out what the eBay strategy is, and how they are doing financially. Also an internal analysis of their strengths and weaknesses and an external analysis of their opportunities and threats have been provided. Finally, a strength assessment of the main competitors in the online auction industry has been determined to see how strong each competitor is. From its beginning in a San Francisco living room, eBay has grown to be in a league by itself. Analysis of eBay’s Strategy and Business Model Before eBay could begin to compete in the online auction industry a strategy and business model needed to be developed (Appendix A). eBay had to define the businesses they would be competing in and how they would compete in those specific businesses. They also needed to define how they would be a successful service to their customers. Corporate level strategy eBay’s corporate level strategy was to become a diversified business. They wanted to diversify not only the products they offered but also their customer base and global reach. By using the eBay service you can find virtually anything you are looking for. Business Level Strategy eBay competes in the online auction industry using a broad differentiation strategy. Although they may not be the most inexpensive online auction site, they have the largest variety of products offered. They also appeal to a larger group of consumers...
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...VIEWPOINT Core Competence, Distinctive Competence, and Competitive Advantage: What Is the Difference? ANN MOONEY STEVENS INSTITUTE OF TECHNOLOGY HOBOKEN, NEW JERSEY ABSTRACT. Core competence, distinctive competence, and competitive advantage ABSTRACT. are 3 of the most important business concepts that managers, researchers, and educators rely on for decision making, pedagogy, and research. However, little attention has been paid to defining these concepts. As a result, they have become buzzwords that are used so frequently that their meanings are often taken for granted but are not fully understood. In this article, the author reviews the evolution of these concepts in business literature and provides comprehensive definitions, conceptual models, and examples to help clarify and distinguish the concepts so that failures of communication can be avoided. Keywords: competencies, competitive advantage, strategy Copyright © 2007 Heldref Publications 110 Journal of Education for Business S R ince its genesis in the mid-20th century, the study of business disciplines has become an established academic discipline. The proliferation of business curricula, journals, and academic and professional associations is evidence of a dramatic growth in business education. Although the growth has improved the understanding of business and informed business practices, with growth comes various problems. For example, business practitioners, researchers...
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...Academic Report on Strategic Management by Diana Romanova 100878 Strategy & Communication EHM3.SC-02 December 10, 2012 Abstract The purpose of the report is to discuss the current strategy of the Carnival Corporation, the world leader in the cruise industry. Based on the external and internal situation analysis the new growth strategy is formulated. The recommendations on the strategy implementation and evaluation are provided by terms of the various strategic theories and models. The projected internationalization strategy may result in the improvement of the financial business situation, by increasing the corporation’s profit margins and shareholder value, and non-financial indicators, for example, brand awareness. Moreover the company can adapt the proposed scenario for entering new markets in the future. 2|Page Table of Contents Abstract ...................................................................................................................................... 2 Introduction ................................................................................................................................ 4 Situation Analysis ...................................................................................................................... 5 Strategic Direction ..................................................................................................................... 6 Formulating a strategy ..............................................
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...Part 01 Executive Summary M&S as an organization has faced a number of challenges in its 130 year existence, but has successfully weathered each challenge as it presents itself with relative aplomb. The foundation upon which the whole business has rested since its inception in 1884 was in its initial form, involved selling carefully chosen, good quality goods with low margins, and achieving volume sales (relatively speaking, at least) through Michael Marks' Penny Bazaars in the North West of England. This strategy was overwhelmingly successful, and continued to be the central tenet of M&S strategy for many years. M&S sailed through the depression and several recessions, but at the end of the 1990's something went severely wrong. Profits were falling year on year and the footfall in the stores was lower than it had been for several years. From the year of 1991 to 1998 it started to regain its profit again. But from 1999 the situation started to worsen again. This report sets out many of the reasons for that failure then concludes by suggesting and evaluating the strategic options open to the organization going forward. The report concludes that drawing on the substantial capital resources of M&S, brand and product development are the appropriate measures to take in order to put M&S back on the retail map. 1|Page Part 02 Strategic Profile and Case Analysis Purpose Strategic Profile The case study provided several descriptions on the basic elements of the company...
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...Instructions to Students Open Book, Take Home Exam This exam is an open book exam. You may use any material to answer the test. Materials might be: • your notes • readings, reference materials or textbooks • equipment like calculators, drafting tools etc. • Company data available through the Internet. Etc… Questions in the open book test The questions in the test evaluate your ability to think critically, and your understanding of the subject. You are not being tested for your ability to memorize and recite, but your ability to find and use information, and submit and defend your arguments. Exam Time The exam question is posted 30 November 2013, Your preliminary answers must be submitted by email by Friday 6th December for discussion and review during the normal lecture time on Saturday 7th December.. . Show us your answers and ask questions. . . We will review in detail the work done then you will have until Saturday 14 December to submit your report. Any test papers submitted after the limit set above will not be considered. Hints Read all the questions carefully Before you start the exam, read all the questions carefully and understand what it is you are being asked to do. Look for the Clue Words in the questions. Use the exam time wisely Answer the 'easy' questions first. Starting with the 'hard' questions (questions you are unsure of) slows you down and can leave you with insufficient time to address the others that you can do well in...
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...Concentrated Knowledge™ for the Busy Executive • www.summary.com Vol. 25, No. 11 (3 parts) Part 1, November 2003 • Order # 25-26 FILE: STRATEGIC MANAGEMENT ® Creating and Sustaining Successful Growth THE INNOVATOR’S SOLUTION THE SUMMARY IN BRIEF Roughly one company in every ten is able to sustain the kind of growth that translates into an above-average increase in shareholder returns over more than a few years. Once a company’s core business has matured, the pursuit of new platforms for growth entails daunting risk — to put it simply, most companies just don’t know how to grow, and pursuing growth the wrong way can be worse than no growth at all. In The Innovator’s Dilemma, Clayton Christensen showed how companies that focus on high-end products for profitable customers can be blindsided by “disruptive” innovations from new competitors — innovations that target low-end customers seeking cheaper products. In The Innovator’s Solution, Christensen and co-author Michael Raynor show established companies how to create disruptions rather than being destroyed by them — how to turn innovative ideas into new disruptive products that will lead to long-term profitable growth. By Clayton M. Christensen and Michael E. Raynor CONTENTS How Can We Beat Our Most Powerful Competitors? Pages 2, 3 What Products Will Customers Want To Buy? Pages 3, 4 What You’ll Learn In This Summary ✓ How you can beat your most powerful competitors. It all starts with disruption — if...
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...465: ADVANCED METHODS IN STRATEGY ANALYSIS Spring, 2006 T, TH 10 am – 11:50 am BRI-8 Professor: Juan Carlos Araque Office: Bridge Hall 301 Phone: USC Office: (213) 821-5708 Email: araque@marshall.usc.edu Office Hours: Thursday 9:00 am - 10:00 am Advanced Methods in Strategy Analysis is an advanced strategy elective designed for business major undergraduates interested in the strategic management of businesses and corporations. The course represents an extension of the frameworks and materials learned in BUAD 497. In particular, MOR 465 focuses on four main substantive areas of interest: Module 1: Basics of Corporate Strategy Module 2: Competitive Rivalries Module 3: Managing Strategic Change Module 4: Academic Research on Strategy Module 1: Basics of Corporate Strategy extends the frameworks and cases taught in BUAD 497 on “Corporate Strategy”, meaning issues that companies with multiple strategic business units face. We focus on the following issues in this module: 1. 2. 3. 4. The basic tenets of corporate strategy; Diversification and the notion of core competences; Vertical integration, Transaction Cost Economics (TCE) & the “make or buy decision”; and Corporate governance and “managing” the managers We examine these issues through both Harvard Business Review readings and Harvard and Stanford Business School cases. Module 2: Competitive Rivalries examines in more detail how firms compete with each-other in fast-moving markets. We read several chapters from the Hitt, Ireland...
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