...Resumen del Paper “Strategic Planning as Competitive Advantage” Un total de 113 firmas respondieron la encuesta realizada siendo 68 de industria de muebles (SIC 2512) y 45 de la industria de indumentaria (SIC 2335). Entre los coeficientes de correlación que se tomaron en el estudio estaban el tamaño de la firma, la edad de la firma y el locus de control del CEO. Se cree que dependiendo del locus de control puede haber una relación positiva entre la planificación estratégica y los resultados de la planificación. La SIC 2512 se utilizó para probar la hipótesis H1 que es: H1: En industrias de “planificación en equilibrio”, la correlación entre la planificación estratégica y sus rendimientos no difiere significativamente de cero. La SIC 2335 se utilizó para probar la hipótesis H2 que es: H2: En industrias de “planificación en desequilibrio”, la correlación entre la planificación estratégica y sus rendimientos difiere de manera positiva y significativamente de cero. H3: La correlación entre la planeación estratégica y sus rendimientos es significativamente mayor en industrias de “planificación en desequilibrio” que en industrias de “planificación en equilibrio”. Como resultado del estudio estadístico se obtuvo la siguiente conclusión: existe una relación negativa entre las industrias de “planificación en equilibrio” y el rendimiento de la planificación. Esto significa que mientras más empresas en la industria construyan una planificación estratégica, la relación entre la planificación...
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...To create a marketing plan, the manager needs information: SWOT analysis is one of the most effective tools in the analysis of marketing data and information The SWOT analysis fulfils this role by structuring the assessment of the fit between what a firm can and cannot do (S/W) and the environmental conditions working for and against the firm (O/T). If the SWOT analysis is done correctly, it can be a viable mechanism for the development of the marketing plan. If done haphazardly or incorrectly, it can be a great waste of time. They are six directives for a productive SWOT analysis: Stay focused: We often make the mistake of conducting one generic SWOT analysis for the entire business unit. It should be a series of analyses, each focusing on a specific product/market combination (Example of GM) Search Extensively for competitors: The firm must watch for any current or potential direct substitutes for its products (Kodak) Collaborate with Other Functional Areas: It generates information and perspectives that can be shared across a variety of functional areas in the firm. Managers of other areas should learn what other managers see as the firm’s SWOT. Such cross-pollination can generate a very conducive environment for creativity and innovation. Examine issues from the Customers’ Perspective: All issues are not equally important; the marketing manager should identify the most critical issues by looking at each one through the eyes of the firm’s customers. We although...
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...Mangers and organizations must perform effectively to gain and sustain a competitive position in the market place, using one of the five essential types of performance, cost, quality, speed, innovation, and service. These five performance dimensions, when managed well, deliver value to the customer and provide competitive advantage to you and your organization. (the fundamental success drivers)( the sources of competitive advantage) Innovation: Is the introduction of new goods and services. Firms must innovate or it will die. 1. Firms must adapt quickly to changes in consumer demands and to new competitors. 2. Products don’t sell forever. 3. Firms have to be ready with new ways to communicate with customers and deliver the products to them. For example, restaurants in the black. Philips adapted quickly to changes in consumer demands, from light bulbs to X- ray machines, recorded albums and then semiconductors(microchips) and medical equipment and LED- based lightening systems. Quality: Is the excellence of your product( goods or services). The traditional approach was to check work after it was completed and then eliminate defects. Using inspection and statistical data to determine whether products were up to standards. But now there is a new approach includes 1. Preventing defects before they occur. 2. Achieving zero defects in manufacturing. 3. Designing products for quality. 4. Customization like Starbucks. De caffeine coffee. The goal is to solve and eradicate...
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...context of “fast growing technological market", what could be the futures perspectives of Apple over the strategic issues in order to maintain its competitive advantage? Introduction I – A Sociology of Steve Jobs A) Steve jobs: the perfect illustration of a charismatic authority B) Steve Jobs: does he really is an inventor? C) From death to succession II – How does Apple react about the uprising competition on the consumer electronic market? A) Understanding the market B) External and Internal analyze through specific models C) Major changes on the market D) Apple’s strategic positioning: a specific target audience III – Recommendations and Justifications A) Drawing of frightening competitor B) Possible strategies C) What Apple is looking for and how to reach it? Conclusion Appendix Introduction In a period of financial turbulences, the consumer electronics market is facing several challenges where every company have to differentiate themselves and bring something more through innovation in to be able to maintain their competitive advantage and to grow their market share. In this case, Apple, great name, is probably the most innovative corporation established on this market by staying aware of the trends evolutions as well as of the electronics consumers’ needs to gain competitive advantages. Indeed, its orientation over frequents innovations, a precise listening of its consumers’ needs and...
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...STRATEGIC MANAGEMENT Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. This definition captures two main elements that go to the heart of the field of strategic management. First, the strategic management of an organization entails three ongoing processes: analysis, decisions, and actions. That is, strategic management is concerned with the analysis of strategic goals (vision, mission, and strategic objectives) along with the analysis of the internal and external environment of the organization. Next, leaders must make strategic decisions. These decisions, broadly speaking, address two basic questions: What industries should we compete in? How should we compete in those industries? These questions also often involve an organization’s domestic as well as its international operations. And last are the actions that must be taken. Decisions are of little use, of course, unless they are acted on. Firms must take the necessary actions to implement their strategies. This requires leaders to allocate the necessary resources and to design the organization to bring the intended strategies to reality. As we will see in the next section, this is an ongoing, evolving process that requires a great deal of interaction among these three processes. Second, the essence of strategic management is the study of why some firms outperform others. Thus, managers need to determine how a firm...
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... What is Competitive Advantage? Competitive advantage. It is a superior performance relative to other competitors in the same industry or the industry average. Sustainable - competitive advantage. When a company is able to outperform its competitors or the industry average over a prolonged period of time. Competitive disadvantage Underperformance relative to other competitors in the same industry or the industry average. Competitive Parity Performance of two or more firms at the same level. The firm that possesses competitive advantage provides superior value to customers at a competitive price or acceptable value at a lower price. What is strategy? Strategy describes the goal – directed actions a firm intends to take in its quest to gain and sustain competitive advantage. Strategy is about creating superior value, while containing the cost to create it. Strategy is not a zero-sum game. It is not always the case that one party wins while all others lose. Win- win scenarios: when competitors cooperate, occasionally, with one another to achieve strategic objectives, we call this co-opetition. Strategic positioning is staking out a unique position in an industry that allows the firm to provide value to customers, while controlling costs. Strategy as a Theory of How to Compete. It provides managers with a roadmap to navigate the competitive territory. A firm´s strategy can be seen as its managers’ theory about how to gain and sustain competitive advantage. (A theory...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5, No. 7; July 2010 Competitive Advantages and Strategic Information Systems Mahmood Hemmatfar, Ph. D. Faculty Member of Islamic Azad University, Brojerd Branch, Iran Mahdi Salehi, Ph. D. (Corresponding author) Assistant Prof. Department of Accounting and Management Ferdowsi University of Mashhad, Iran Tel: 98-912-1425-323 E-mail: Mahdi_salehi54@yahoo.com Marziyeh Bayat, Ph. D. Faculty Member of Islamic Azad University, Hamedan Branch, Iran Abstract Information edge and 3rd millennium predisposed so many of revolutions. Business organization with emphasize on information systems is try to gathering desirable information for decision making. Because of comprehensive change in business background and emerge of computers and internet, the business structure and needed information had change, the competitiveness as a major factor for life of organizations in information edge is preyed of information technology challenges. In this article we have reviewed in the literature of information systems and discussed the concepts of information system as a strategic tool. Keywords: Strategic information systems, Information technology, Information sciences, Decision support systems, Competitive advantages 1. Introduction The potential usefulness of different kinds of Information System (IS) for environmental management is well recognized (Díez et al, 2009). Perhaps we can say advances in information...
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...Chapter 01 What Is Strategy and Why Is It Important? Multiple Choice Questions 1. | Managers in all types of businesses must address the central strategic question A. | Where are we now? | B. | Where do we want to go from here? | C. | How are we going to get there? | D. | When will we know we are there? | E. | All of these | | 2. | A company's strategy consists of A. | actions to develop a more appealing business model than rivals. | B. | plans involving alignment of organizational activities and strategic objectives. | C. | offensive and defensive moves to generate revenues and increase profit margins. | D. | competitive moves and approaches that managers have developed to grow the business, attract and please customers, conduct operations, and achieve targeted objectives. | E. | its strategic vision, its strategic objectives, and its strategic intent. | | 3. | The competitive moves and business approaches a company's management is using to grow the business, compete successfully, attract and please customers, conduct operations, respond to changing economic and market conditions, and achieve organizational objectives is referred to as its A. | strategy. | B. | mission statement. | C. | strategic intent. | D. | business model. | E. | strategic vision. | | 4. | A company's strategy is most accurately defined as A. | management's approaches to building revenues, controlling costs, and...
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...to its owner a sustainable competitive advantage. Therefore, resources and competencies approach first appeared as a theory of competitive advantage or a theory of “performance of the firm” (Argyres & Zenger, 2007). It is only recently, in the last 20 years that organizations have started using the resource based view approach on strategy. Nowadays, they view it as the most important key development in international business research and strategic management, an approach that gives a coherent vision based on a firm's capabilities to help determine the strategic resources necessary for the firm's survival and growth within a particular market place. As Hitt et al (2001) stated, “the resource based model assumes that each organization is a collection of unique resources and capabilities that provides the basis for its strategy and that is the primary source of return.”. It suggests that in order for a firm to sustain competitive advantage, it must not only have resources and capabilities but also have a firm control over it and they must meet certain basic criteria such as being: valuable, rare, inimitable and non substitutable such that it is impossible to be copied or replicated (VRIN). Although a resource based view strategy sounds like the better way to go, others have wondered if this approach is at all necessary or bring any more insight than the traditional understandings into a successful strategy to survive and thrive into a competitive market,...
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...Cand. Merc. IMM INTERNATIONAL MARKETING AND MANAGEMENT “Is there an optimal strategic approach in gaining superior financial performance in a hypercompetitive environment?” Topic no. 2 Authors: Kristofer Edholm Alexandra Johansen Advisor: Magdalena Dobrajska Date of Hand-in: 19/12 – 2012 “IS THERE AN OPTIMAL STRATEGIC APPROACH IN GAINING SUPERIOR FINANCIAL PERFORMANCE IN A HYPERCOMPETITIVE ENVIRONMENT?” ABSTRACT Hypercompetition has made competition more aggressive, and effective strategies have become vital in order for companies to remain competitive in the vigorous marketplace. The paper will study the two most commonly used theories within strategic planning, the Industrial Analysis and the Resource-Based View, to see which is more effective in order to increase financial performance in a hypercompetitive environment. The paper will first look at the overall effect of hypercompetition on the marketplace. Secondly, the Industrial Analysis effect on financial performance in hypercompetition will be examined, and thirdly, the effect the Resource-Based View has on financial performance considering hypercompetitive challenges. Finally, the paper ends by concluding that a strategy based on RBV will have greater effect on financial performance in a hypercompetitive environment, which suggests that managers' should spend more resources concerning companies' internal environment than the external in order to increase their return on investments. 2 INTRODUCTION ...
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...Company’s Competitive Advantage Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared For AKM Mominul Haque Talukder (MHT) Senior Lecturer Course: Human Resource Planning Course Code: HRM 360 North South University Date of Submission: 11th April 2012 April 09, 2012 A.K.M. Mominul Haque Talukder Senior Lecturer, School of Business & Assistant Proctor North South University Bashundhara, Dhaka 1229 Dear Sir, Subject: Research Report on Level of Satisfaction of the employees of Avery Dennison. We have the honor to present to you the research report entitled ‘Factors of Human Resource Planning Affecting a Company’s Competitive Advantage’. The main purpose of this report was to assess the relationship between the seven different variables of human resource planning and the independent variable namely competitive advantage...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5, No. 7; July 2010 Competitive Advantages and Strategic Information Systems Mahmood Hemmatfar, Ph. D. Faculty Member of Islamic Azad University, Brojerd Branch, Iran Mahdi Salehi, Ph. D. (Corresponding author) Assistant Prof. Department of Accounting and Management Ferdowsi University of Mashhad, Iran Tel: 98-912-1425-323 E-mail: Mahdi_salehi54@yahoo.com Marziyeh Bayat, Ph. D. Faculty Member of Islamic Azad University, Hamedan Branch, Iran Abstract Information edge and 3rd millennium predisposed so many of revolutions. Business organization with emphasize on information systems is try to gathering desirable information for decision making. Because of comprehensive change in business background and emerge of computers and internet, the business structure and needed information had change, the competitiveness as a major factor for life of organizations in information edge is preyed of information technology challenges. In this article we have reviewed in the literature of information systems and discussed the concepts of information system as a strategic tool. Keywords: Strategic information systems, Information technology, Information sciences, Decision support systems, Competitive advantages 1. Introduction The potential usefulness of different kinds of Information System (IS) for environmental management is well recognized (Díez et al, 2009). Perhaps we can say advances in information...
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...1. Design and Emergence Approach of Strategic Management Strategic management is the process of designing an organization vision, mission and goals. It develops set of actions for formulating the strategy. Some arguments exist in corporate that ’how strategy is made’ either through design or emergence approach. According to emergence approach, strategy emerges through the initiative taken by the manager for enhancing the performance of firm. Here, the strategy is formed without any long term plan. The manager just frames it, to meet out the day to day operations of the firm. For instance, Sam Walter, the founder of Wal-Mart, established his store in 1962. His competitor opened the store in urban areas, to get huge profit. But for a change, Sam Walton opened his store in rural area, which brings him success, as he got customers 50 miles away from the stores. Here, he does not apply any strategic plan. Strategy came out through his response to the problem. Emergent approach of framing strategy is common in earlier days, and it become quite successful too. But according to design approach, strategy is intentionally formed by the organization to achieve the goals. For instance, consider an organization is going to expand the business globally. For this, a well planned strategy should be devised to meet out the requirements of various countries. Once the strategy is devised, it should be implemented by keeping in mind about the mission and vision of the organization. Mostly top...
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...------------------------------------------------- VRIO From Wikipedia, the free encyclopedia The VRIO framework, in a wider scope, is part of a much larger strategic scheme of a firm. The basic strategic process that any firm goes through begins with a vision statement, and continues on through objectives, internal & external analysis, strategic choices (both business-level and corporate-level), and strategic implementation. The firm will hope that this process results in a competitive advantage in the marketplace they operate in. VRIO falls into the internal analysis step of these procedures, but is used as a framework in evaluating just about all resources and capabilities of a firm, regardless of what phase of the strategic model it falls under. VRIO is an acronym for the four question framework you ask about a resource or capability to determine its competitive potential: the question of Value, the question of Rarity, the question of Imitability (Ease/Difficulty to Imitate), and the question of Organization (ability to exploit the resource or capability). * The Question of Value: "Is the firm able to exploit an opportunity or neutralize an external threat with the resource/capability?" * The Question of Rarity: "Is control of the resource/capability in the hands of a relative few?" * The Question of Imitability: "Is it difficult to imitate, and will there be significant cost disadvantage to a firm trying to obtain, develop, or duplicate the resource/capability...
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...the organization achieve its competitive advantage. Changes in the environment such as widespread globalization, rapid technology and other such factors have led to organizations realizing the significance of controlling human resources in a firm. Since organizations have also become more dynamic and complex, the need to manage human resources has become more essential. In recent years, many individuals demanded for a more strategic approach to managing people in a firm, rather than the traditional methods, and thus the idea of strategic human resource management (SHRM) was adopted. Strategic human resource management is a branch of human resource management, and it can be defined as ‘ the linking of human resources with strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation, flexibility and competitive advantage.’ (Sinha, R 2007). This essay is going to focus on how strategic human resource management helps organizations achieve a sustained competitive advantage. Sustainable competitive advantage is the position a firm develops in relation to its competitors that are not duplicable an unsurpassable than its competitors. Recently scholars have come to the basis of HR skills and competences as sources of competitive advantage. Human resource practices as well as competitive strategies are based on the assumption that employee behaviors are needed for each type of competitive strategy and that these behaviors...
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