...[pic] An organization does not need any strategy if it is not in a competitive situation TETA-2607 Strategic Management • Do you agree with the claim and what grounds can you provide to support your stance? • Can an organization ever be in such a situation in which it does not encounter any competition whatsoever? | | | |TABLE ON CONTENTS |PAGE | |What is strategy |03 | |LEVELS OF STRATEGY |03 | |Corporate strategy |03 | |BUSINESS STRATEGY | | |FUNCTIONAL STRATEGY | | | |04 | |strategy in absence of competition | ...
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...Strategies for Supply Chain Management for the Trading Agent In an effort to address the of increasingly sophisticated and advanced methods of supply chain management, a joint team of researchers from the e-Supply Chain Management Lab at Carnegie Mellon University, formed The Trading Agent Competition (TAC). This particular forum was designed to address the problem of trading agent competition within the global marketing structure. Within this writing, the problems inherent to trading agent competition will be addressed and certain formulas will determine the validity of such theorems. A definitive description of a supply chain can be described as “a process that transforms materials into products and delivers them to customers through specific activities” 1. An overall objective of supply chain management is to improve upon the timely delivery of goods to suppliers and customers alike, thus while keeping costs at a minimum. This includes all handling and storage costs involved within the supply chain management process. Key aspects of the stages involved are securing raw materials, manufacturing, storing, negotiating, the receipt of customer orders, and delivering the products, paired with using standards adopted from long withstanding relationships between major trading firms. 1 P.B. Schary, T. Skjott-Larsen, Managing the Global Supply Chain, second ed., Copenhagen Business School Press, 2001. The pretense of the...
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...In order to achieve peak performance, athletes must be prepared both mentally and physically. The ideal mental preparation and psychological state of an athlete, both leading up to and during training and performance, will vary for individuals. It will also vary depending on the nature of the activity. Psychological strategies can play an important part in emotional and possibly spiritual recovery by assisting in recovery of concentration, lifting motivation and decreasing anxiety levels. Athletes may experience positive and negative motivation or most likely a combination of both. These will occur partly because of the normal human emotions of the athlete and partly because they will be encouraged by significant others such as coaches, parents, team mates, fellow competitors, and the media. Strategies athletes can use to enhance motivation and mange anxiety include concentration/attention skills, mental rehearsal, visualization, relaxation and goal setting. Concentration and attention skills allow the athlete to focus on the task at hand and ignore other distractions. Concentration can be improved through training that emphasizes the process rather than the outcome. When an individual focuses on the process, they give attention to technique and try to understand why. For example if a marathon runner doesn’t make the finish line as they are focusing on the outcome that places importance on the result, the success or otherwise of the win. Athletes need to know what to focus...
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...ECO 365 Week 5 Learning Team- B Competitive Strategies and Government Policies Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/eco-365-week-5-learning-team-b-competitive-strategies-government-policies/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Competition and Policies Influencing the Airline Industry Emerging Companies, Mergers, Globalization, Pricing, and Profits The airline industry is characterized by increased levels of competition as a result of new companies that venture into the market. Such new entrants bring about an increased level of competition for the existing volumes of consumers that the different airlines have to share. Mergers occur when two companies come together to combine resources, market share, and experience to acquire a better position in the market. Mergers also create a greater pool of resources and stability, which is attractive to consumers. Globalization brings about a higher level of travelling where people will be moving from one point to another. As a result, airline services will be at a greater demand and hence increase business. However, this will also mean that airlines from foreign nations can access any region and as a result there is greater competition (Botten & McManus, 1999; University of Phoenix, 2011)...
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...Blue Ocean Strategy Paper Jamie Carbary MKT 421 Professor William Alan McIntyre November 23rd, 2015 Blue Ocean Strategy Paper Introduction In the current competitive market, businesses often adopt several strategies so as to compete effectively. These strategic moves are usually derived from market – competing strategies. Innovation and creativity are the keys whereby organizations can focus on finding and creating new market spaces resulting in the opening of the new market and increasing their profit margins. The term “Blue Ocean” denotes all the industries that are not in existence today (Kim & Mauborgne, 2004). It includes unknown market and is untainted by competitions. In blue oceans, demand is created rather than fought over. Thus, there is an ample opportunity for growth that is rapid and profitable too. On the other hand "Red Ocean" is regarded as the existing market space with numerous risks and limited opportunities with limited profit margin, whereby companies strive to sustain their position (Gruwer, 2014). The companies operate in saturated market conditions with numerous small and big players and try hard to exploit the demand of customers. Blue Ocean Strategy Blue ocean strategy is the new way of thinking, a new strategic mind – set, a bold and new path to winning the future. It is grounded in analysis and energizes everyone. Blue ocean strategy focuses on creating new markets rather than competing with existing ones so as to stand apart and keep...
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...Blue Ocean Strategy Paper In today’s global economy, many companies are competing each and every day for the same customers. On the other hand, the elite companies are sailing in uncontested waters by being innovative and creative in obtaining profit and growth. Research spanning over 100 years in thirty industries was conducted, and the result was astonishing. The conclusion of the research was that companies need to stop competing head-on in existing industry space because they should make competition irrelevant. How do you make competition irrelevant? What product or service can fall in this innovative strategy? What is the alternative to this strategy and what are the pros and cons? First of all, how to make competition irrelevant? Blue Ocean created by W. Chan. Kim and Renee Mauborgn is Strategy based on 100 years long study of more than 150 strategic moves, spanning more than 30 industries. It pursues differential and low cost. Blue ocean strategy is based on the simultaneous pursuit of differentiation and low cost. It creates uncontested market space because it doesn’t aim at competing nor does it aim at outperforming the competition; rather it aims at making the competition irrelevant by reconstructing the industry standards and boundaries. Blue ocean strategy uses tools and framework to break away from the competition. By doing so, it creates new market space. Blue ocean strategy starts by assessing the current state of play in an industry to exploring the new market...
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...ON COMPETITION Strategy and the Internet 97 Some companies, for example, have used Internet technology to shift the basis of competition away from quality, featurs, and service and toward price, making it harder for anyone in their industries to turn a profit. 98 When seen with fresh eyes, it becomes clear that the Internet is not necessarily a blessing. It tends to alter industry structures in ways that dampen overall profitability, and it has a leveling effect on business practices, reducing the ability of any company to establish an operational advantage that can be sustained. 103 Internet Technology provides buyers with easier access to information about products and suppliers, thus bolstering buyer bargaining power. 105 With more competitors selling largely undifferentiated products, the basis for competition shifts ever more toward price. 107 On the Internet, buyers can often switch suppliers with just a few mouse clicks, and new Web technologies are systematically reducing switching costs even further. ON COMPETITION Strategy and the Internet 97 Some companies, for example, have used Internet technology to shift the basis of competition away from quality, featurs, and service and toward price, making it harder for anyone in their industries to turn a profit. 98 When seen with fresh eyes, it becomes clear that the Internet is not necessarily a blessing. It tends to alter industry structures in ways that dampen overall...
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...Blue Ocean Strategy Paper Anthony Dobson MKT/421 July, 2014 Nickolas Skelton Blue Ocean Strategy Paper A blue ocean strategy can be described as the ability to create uncontested market space and render the competition obsolete. This strategy provides a systematic way to unlock the ocean of unrealized talent, opportunities, and energy within an organization quickly and at a low cost. It can achieve all of this from a management standpoint while preserving time and efficiency. The aim of a blue ocean strategy is not to out-perform the competition in the existing industry, but to create new market space or a blue ocean, thereby making the competition irrelevant. While innovation has been seen as a random/experimental process where entrepreneurs and spin-offs are the primary drivers this strategy offers systematic and reproducible methodologies and processes in pursuit of blue oceans by both new and existing firms. Frameworks and tools within blue ocean strategies are designed to be visual in order to not only effectively build the collective wisdom of a business but also to allow for effective strategy execution through easy communication. Blue ocean strategies cover both strategy formulation and strategy execution. The three key conceptual building blocks of blue ocean strategy are: value innovation, tipping point leadership, and fair process. While competitive strategy is a structuralism theory of strategy where structure shapes strategy, blue ocean strategy is a Reconstructionist...
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...Blue Ocean Strategy MARKETING Individual assessment: Blue ocean strategy Do you think that the blue ocean strategy is a relevant tool to generate innovation, value and new customer? Summarize the benefits and the limitation of this strategy. What can corporate do to minimize the impact of this unavoidable imitation/competition? 1. Blue Ocean Strategy (BOS): Benefits, limitations and risks Blue Ocean Strategy signifies all the industries which are not in existence today. In this kind of strategy, the market spaces are unfamiliar, unpolluted by competition. In this strategy, the demand is created rather than fought over. There is sufficient chance for growth which is swift and profitable. Competition is inappropriate because the rules of the game are waiting to be set. 1.1. Benefits of Blue Ocean Strategy The Blue Ocean Strategy is appropriate tool to generate innovation, value and new customers. Considering the condition of CLV it is suitable for this organization to go for it to generate value and innovation. This strategy encourages organizations to attain new ways of thinking which are different than the competitors. With the help of this strategy, organizations can create a new area of demand namely a Blue Ocean and get rid of an intensely competitive market namely a Red Ocean. When any organization successfully creates new markets without competitors they can have a clear Blue Ocean. According to this strategy the organizations must not only focus on...
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...Blue Ocean Strategy MKT 421 Name Date Instructor Blue Ocean Strategy Description and Significance According to Cham Kim and Renee Mauborgne (2004), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors. The strategy is against working in conditions such as Red Ocean, where businesses are ferociously fighting each other for some share of the marketplace. In essence, businesses are most often looking for ways that can better contend with their competitors, and that is the Blue Ocean strategy. According to the book Blue Ocean Strategy, the leading companies succeed not by battling with competitors, but by systematically developing “Blue Oceans” of uncontested market space ripe for the growth. Such a strategy of Blue Oceans the simultaneous pursuit of differentiation and also low cost, including the theory behind it not to outperform the competition in the on-hand industry, but to develop new market space or rather the “Blue Ocean”, in which case it makes the competition irrelevant. (Brooks, 2013) As such, the Blue Ocean strategy illustrates the opportunities of vast and untapped market spaces (Kim & Mauborgne, 2004) The Blue Ocean strategy is quite important. This is because it allows some business to sell its products with no or little competition from other firms. It is...
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...Blue Ocean Strategy MKT 421 Blue Ocean Strategy Description of Blue Ocean Strategy and its Significance According to Cham Kim and Renee Mauborgne (2004), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors. The strategy is against working in conditions such as Red Ocean, where businesses are fighting each other for some share of the marketplace. In essence, businesses are most often looking for ways that can better contend with their competitors, and that is the Blue Ocean strategy. According to the book, Blue Ocean Strategy, the leading companies succeed not by battling with competitors, but by systematically developing “Blue Oceans” of uncontested market space ripe for the growth. Such a strategy of Blue Oceans entails the simultaneous pursuit of differentiation and also low cost, including the theory behind it not to outperform the competition in the on-hand industry, but to develop new market space or rather the “Blue Ocean”, in which case it makes the competition irrelevant. As such, the Blue Ocean strategy illustrates the opportunities of vast and untapped market spaces (Kim & Mauborgne, 2004). The Blue Ocean strategy is quite important. This is because it allows some business to sell its products with no or little competition from other firms. It is also significant...
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...of theories in strategy Corporate strategy; where to compete, portfolio, parent level Competitive strategy; how to compete, SBU, competitive advantage Three layers of theory: management – strategic management – economies Paradox: how is it possible to have a general statement about uniqueness? We try to have general statements about uniqueness. Theory=general statement about cause and effect Stoelhorst, J.W. (2008), Thinking about Strategy Stoelhorst: 5 Schools of thought about strategy • Prescriptive schools: ○ 1960s: Design school (strategy formulation) ○ 1970s: Planning school (strategy formulation) ○ 1980s: Positioning school (strategic analysis) ○ 1990s: Resource-based school (strategic analysis) • Descriptive school: ○ 1980s onwards: Process school Design school: Strategy formulation is a process of conception The CEO formulates a clear, simple, and unique strategy (business policy) through a deliberate process of conscious thought. There should be a fit between a firm’s strengths and weaknesses and external opportunities and threats (SWOT analysis). Strategy formulation and implementation are clearly separate activities. Planning school: Strategy formulation is a formal process Strategy formulation takes...
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...Review Blue Ocean Strategy: From Theory to Practice W. Chan Kim Renée Mauborgne © 2005 by The Regents of the University of California Blue Ocean Strategy: FROM THEORY TO PRACTICE W. Chan Kim Renée Mauborgne or twenty-five years, competition has been at the heart of corporate strategy. Today, one can hardly speak of strategy without involving the language of competition: competitive strategy, competitive benchmarking, building competitive advantages, and beating the competition. Such focus on the competition traces back to corporate strategy’s roots in military strategy. The very language of corporate strategy is deeply imbued with military references—chief executive “officers” in “headquarters,” “troops” on the “front lines,” and fighting over a defined battlefield.1 Industrial organization (IO) economics gave formal expression to the prominent importance of competition to firms’ success. IO economics suggests a causal flow from market structure to conduct and performance.2 Here, market structure, given by supply and demand conditions, shapes sellers’ and buyers’ conduct, which, in turn, determines end performance.3 The academics call this the structuralist view, or environmental determinism. Taking market structure as given, much as military strategy takes land as given, such a view drives companies to try to carve out a defensible position against the competition in the existing market space. To sustain themselves in the marketplace, practitioners of strategy focus on building...
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...(Verizonwireless.com, 2015). Market Structure of Verizon Wireless Verizon Wireless competes in an oligopoly market structure. The oligopoly market consists of few firms, significant barriers to entry, strategic pricing between monopoly and perfect competition, restricted output and the possibility of long-run economic profit (Colander, 2013). The telecommunication service industry consists of a small number of sellers and has high barriers for new entrants. The four leaders of the industry are Verizon, AT&T, Sprint and T-Mobile, combined these firms dominate the market. One of the most important factors that make up the market structure are the barriers that exist. The barriers in the wireless cellular service market exist primarily due to the high costs associated with the infrastructure required to provide reliable wireless service. Another barrier is the limited amount of spectrum (an essential input required to produce cell phone and data services) designated for this type of use (Beard, 2013). Market Structure The four basic market structures are oligopoly, perfect competition, monopoly, and monopolistic competition and each market structure has different characteristics. Perfect competition does not exist in the real world; it only provides us with a reference point to think about other market structures...
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...market place for shoppers with discriminating tastes and who are searching for only the highest quality meats, cheeses and diary, bakery products. In 1930 the start of Publix humble beginnings as a food store in Winter Haven, Florida. Publix has grown to one of country leading super markets in the southeast, with over 1,100 super markets in six states (“Publix”,n.d.). Publix employs more than 168,500 people. Publix is the largest employee owned grocery chain in the United States. This paper will highlight the importance of research to the marketing strategy and the direction in which Publix Super Markets Inc heads. Additionally this paper will cover competitive intelligence and analysis in order to explain the role it plays in the development of marketing strategies and tactics. Industry The industry that Publix operates in is the grocery industry, which would be an example of a monopolistic competition. Monopolistic competition occurs when there are many different firms competing for market share over similar products. There are generally low barriers to entry, which means it is easy for a small company to become a competitor in the market (David C. Colander, 2013). All of the companies in this system sell similar products and must make a strong effort towards product differentiation. Products and services are considered to have a high elasticity of demand; meaning consumer has many comparable alternatives to choose from. If a firm decides to raise prices, a consumer in...
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