6-1 thomas l. wheelen j. david hunger chapter 6 strategy formulation: situation analysis &...
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THOMAS L. WHEELEN J. DAVID HUNGER
CHAPTER 6Strategy Formulation: Situation Analysis & Business Strategy
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Situational Analysis
Strategy formulation --
–Strategic planning or long-range planning
•Develops mission, objectives, strategies, policies
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Situational Analysis
--process of finding a strategic fit between external opportunities and internal strengths while working around external threats and internal weaknesses
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IFAS – Maytag as Example
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EFAS – Maytag as Example
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SFAS Matrix
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Situational Analysis
Niche --
–Need in the marketplace that is currently unsatisfied
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Situational Analysis
Corporate Goal --
–Find propitious niche
–Strategic window
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Situational Analysis
SWOT --
–Internal
•Strengths/Weaknesses
–External
•Opportunities/Threats
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TOWS Matrix
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Business Strategy
Focuses on improving competitive position of company’s products or services within the specific industry or market segment
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Porter’s Competitive Strategies
Generic Competitive Strategies --
–Lower Cost strategy
•Greater efficiencies than competitors
–Differentiation strategy
•Unique/superior value, quality, features, service
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Porter’s Competitive Strategies
Competitive Advantage --
–Determined by Competitive Scope
•Breadth of the target market
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Porter’s Competitive Strategies
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Porter’s Competitive Strategies
Cost Leadership --
–Low-cost competitive strategy
–Broad mass market
–Efficient-scale facilities
–Cost reductions
–Cost minimization
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Porter’s Competitive Strategies
Differentiation –
–Broad mass market
–Unique product/service
–Premiums charged
–Less price sensitivity
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Porter’s Competitive Strategies
Cost Focus –
–Low-cost competitive strategy
–Focus on market segment
–Niche focused
–Cost advantage in market segment
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Porter’s Competitive Strategies
Differentiation Focus –
–Specific group or geographic market focus
–Differentiation in target market
–Special needs of narrow target market
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Porter’s Competitive Strategies
Stuck in the middle –
–No competitive advantage
–Below-average performance
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Competitive Strategies
Best Cost Provider –A company has an ability to incorporate attractive or upscale attributes at a lower cost than rivals.
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Competitive Tactics
Timing Tactics --
–First mover
–Late movers
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Competitive Tactics
Market Location Tactics --
–Frontal Assault
–Flanking Maneuver
–Bypass Attack
–Encirclement
–Guerrilla Warfare
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Competitive Tactics
Defensive Tactics --
–Raise structural barriers
–Increase expected retaliation
–Lower the inducement for attack
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Cooperative Strategies
•Collusion
•Strategic Alliances
•Mutual service consortia
•Joint ventures
•Licensing arrangements
•Value-chain partnerships