session summary 11

Session Summary

Session 11 Part I

Farisha Joy C. OblegoFebruary 10, 2011

www.farishajoyoblego.blogspot.com

We attended the forum on:Got Strategy? Compete Different: A

Business Forum on Strategic Management

Speaker Guest: Mr. Perry L. Fagan


Background

Mr. Perry L. Fagan: Founder of Get Strategy Had his MBA degree at Harvard

University’s Graduate of School Business and Administration

Author of several case studies on finance and general management


Got Strategy? (Get Real. Get Different. Get Strategy)

What do Strategy and Christmas have in common?

Christmas: we do planning and organizing. we do make resolutions but at the end of

the day, these are not fulfilled.Why? Due to lack of commitment and poor

execution just like STRATEGY.


Top 10 Fatal Misconceptions

1. Striving to be the best2. Strategy is goal setting3. Strategy is innovation4. Being all things to all people5. Strategy is your boss problem6. Strategy is a secret7. Strategy is abstract8. Strategy is academic9. Strategy doesn’t matter, execution does10. Strategy is measurement


Most of what you know about strategy is wrong.

(The audience were requested to write the company strategy.)


Universal Structure of Strategy

Objective

• Single goal• Time frame

Scope

• Geographies• Customers• Degree of

vertical integration

Advantage

• Unique selling propositions

• Interlinked activities

Return on Invested Capital (ROIC)


What is the nature advantage?(examples)


What is the nature advantage?

JOLLIBEE “Langhap Sarap” – Filipino taste

Unique Selling Proposition: Only Jollibee offers you Filipino taste with

same standard of fast food service excellence you expect from Mcdonalds.



COCA COLA

Unique Selling Proposition: Only coke zero gives you zero calories with

the same great coke taste



HERMAN MILLER CHAIR

Unique Selling Proposition: Only the herman miller aeron chair gives

you an ergonomic place to sit at work that boosts your productivity while signifying to your colleagues (and your boss) that you have arrived.



SINGAPORE AIRLINES

Unique Selling Proposition: Only Singapore Airlines offers business

travellers a flight that is its own reward.



CEBU PACIFIC AIRLINES

Unique Selling Proposition: Only Cebu Pacific offers infrequent flyers a

fun flying that is faster and cheaper that taking a bus or ferry.



WESTERN UNION

Unique Selling Proposition: Why hassle with bank acct when only

Western Union gives you the most locations worldwide for instant point-to-point money transfer as you can care for your loved ones as if you never left.



TWITTER

Unique Selling Proposition: Follow your leaders. Lead your own tribe.

Only on twitter.



VIKTOR

Unique Selling Proposition: A good pair of Viktor can get you laid.



RESORT (AMANPULO)

Unique Selling Proposition: In the Philippines, only Amanpulo treats you

like a true VIP.


Strategy

Strategy is the integrated set of choices an enterprise makes to create a unique and valuable position in market space.


Unique Positioning

Unique positioning means performing different activities from rivals or performing similar activities in diff ways.


Execution Gap

Managers who complain of an “execution gap” are confusing strategy with goal setting. Typically, “strategic planning” fails precisely because strategy is defined as a set of goals or objectives, not as the real activities that define a positioning in a market place.

Moreover, managers set goals without the ability to think and plan strategically. In fact, thinking is found rarely un organizations and even when present often lacks any consistency.


Being different vs being the “best”

Strategy is about being different in ways that matter for target customers.

Being the “best” means competing on the same dimensions as competitors for the same customers. It is incompatible with good strategy. Rather, the appropriate question is best for whom?


Reference:

Powerpoint presentation of the guest speaker.


Session Summary

Session 11 Part I

Farisha Joy C. OblegoFebruary 10, 2011
