Strategy Formulation: Situation Analysis and Business Strategy Institut für Strategisches Management Institut für Strategisches Management Situational Analysis Strategy Formulation - developing a corporation’s mission, objectives, strategies and policies Situation Analysis - the process of finding a strategic fit between external opportunities and internal strengths while working around external and internal weaknesses Wheelen / Hunger, 2010, p 224 SWOT Analysis SWOT- Strengths-WeaknessesOpportunities-Threats
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existing supply chain strategies in their home countries to the new environment or develop new strategies that are suitable for each country they expand to. Therefore, a successful entry into India by Wal-Mart is dependent on how well the country can execute the following steps. Understand your service supply chain i. Determine the needs of your customers and convey those needs down the supply chain ii. Obtain high quality suppliers iii. Maintain a competitive advantage by offering high value
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Chapter 1 & 2 – What is Strategy What is Strategy? • Strategy is the fundamental approach to winning the market and responsible for long-term success (not short-term). • The core of strategy is value creation and capture, i.e. unique value creation. • Business Strategy focuses on achieving goals, through the allocation of resources with some degree of consistency, integration and cohesiveness in the company’s decisions and actions. • Michael Porter: Strategy is not about doing things better
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Sustainable Competitive Advantage dimensions of durability, mobility and replicability. According to Grant (1995) the sustainability of the competitive advantage is considered to be along the dimensions of durability, mobility and replicability. Durability is a measure of the ability and the resilience of the organization to ward of imitation from competitors. Mobility, on the other hand, refers to the extent to which resources can be transferred between competitors together with the replicability
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Strategic Management Model • Competitive • Supplementary • Business • Functional • Global • Tailoring
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formulation and then the final, strategic implementation, to be successful. Within each of the three processes, there are four sub-processes. Without each process being worked through entirely, successful implementation would not be possible. 2. Strategy analysis is the first step in the strategic management process and everyone knows that without a solid foundation, a house will not stand. Within the strategic analysis, strategic objectives must be set by a firm’s vision and mission statement
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Business Policy and Strategy – Study Guide: Unit 1 Material from McGraw Hill website – Chapters 1 & 2 Chapter 1 What Is Strategy and Why Is It Important? Learning Objectives - After studying this chapter, you should be able to: LO 1. | Understand why every company needs a sound strategy to compete successfully, manage the conduct of its business, and strengthen its prospects for long-term success. | LO 2. | Develop an awareness of the four most dependable strategic approaches for
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August, 1987 ® The Academy of Management EXECUTIVE, pp. 207-219 1987, Vol. 1, No. 3, Linking Competitive Strategies with Human Resource Management Practices Randall S. Schuler and Susan E. Jackson New York University ver the past several years there has been increased recognition that there is a need to match the characteristics of top managers with the nature of the business. According to Reginald H. Jones, former chairman and CEO of the General Electric Company, O The result of
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Section 1, February 3, 2005 EXECUTIVE SUMMARY Jollibee was able to attain a competitive advantage over McDonald’s by doing two things: (1) Retaining tight control over operations management, which allowed it to price below its competitor and (2) Having the flexibility to cater to the tastes of its local consumers. While Tony Kitchner was hired to develop these competitive advantages abroad, his international strategy of “planting the flag” and “targeting expats” was executed haphazardly and resulted
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1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Which one of the five competitive forces is the strongest? Do a five-forces analysis to support your answer. Blue Nile, Inc has been keeping at the lead of the pack even through the harder economic times, even though it has slipped a little since the products are more of a luxury item rather than a necessity. With competition gaining on Blue Nile they need to review practices and procedures
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