战略管理

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The Evolving Nature of a Firm’s Strategy
♦ Realized (current) strategy is a blend of:
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Proactive (deliberate) strategy elements that include both continued and new initiatives.
• Which initiatives will likely result in the most enduring competitive advantage? • Which of the initiatives will competitors likely attempt to overcome first?
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WHY DO STRATEGY ?
♦ A firm does strategy:
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To improve its financial performance.
To strengthen its competitive position. To gain a sustainable competitive. advantage over its market rivals.
Profit Formula
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A Company’s Business Model ♦ How the business will make money :
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By providing customers with value. The firm’s customer value proposition ● By generating revenues sufficient to cover costs and produce attractive profits. The firm’s profit formula It takes a proven business model—one that yields appealing profitability—to demonstrate viability of a firm’s strategy.
• Wide menu variety and beverage choices
• Convenience and expansion of dining opportunities • Ongoing restaurant reinvestment and international expansion
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The Quest for Competitive Advantage ♦ Competitive Advantage
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Meeting customer needs more effectively, with products or services that customers value more highly, or more efficiently, at lower cost. Giving buyers lasting reasons to prefer a firm’s products or services over those of its competitors.
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Doing what they don’t do or doing it better!
Doing what they can’t do! Doing that which sets the firm apart and attracts customers. Doing what we should or should not do to produce a competitive edge.
5. Learn the three tests of a winning strategy.
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WHAT DO WE MEAN BY STRATEGY ?
♦ What is our present situation?
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Business environment and industry conditions
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Why a Firm’s Strategy Evolves over Time ♦ Managers modify strategy in response to:
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Changing market conditions Advancing technology Fresh moves of competitors Shifting buyer needs Emerging market opportunities New ideas for improving the strategy
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♦ Sustainable Competitive Advantage
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STRATEGIC APPROACH CHOICES
Building Competitive Advantage
Low-cost provider
Differentiation on features
Focus on market niche
Leabharlann Baidu
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1.1
Identifying a Company’s Strategy—What to Look For
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Key initiatives of the Plan-to-Win strategy:
• Improved restaurant operations • Affordable pricing
4. Learn why it is important for a company to have a viable business model that outlines the company’s customer value proposition and its profit formula.
CHAPTER 1
WHAT IS STRATEGY AND WHY IS IT IMPORTANT?
Copyright ®2012 The McGraw-Hill Companies, Inc.
McGraw-Hill/Irwin
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. 2. Develop an awareness of the four most dependable strategic approaches for setting a company apart from rivals and winning a sustainable competitive advantage. 3. Understand that a company’s strategy tends to evolve over time because of changing circumstances and ongoing management efforts to improve the company’s strategy.
♦ A creative, distinctive strategy:
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Can yield above-average profits.
Makes competition difficult for rivals.
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STRATEGY AND COMPETITORS
♦ Strategy is about competing differently from rivals—
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Firm’s financial and competitive capabilities Creating a vision for the firm’s future direction
♦ Where do we want to go from here?
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♦ How are we going to get there?
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Reactive (emergent) strategy elements that are required due to unanticipated competitive developments and fresh market conditions.
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1.2
A Company’s Strategy Is a Blend of Proactive Initiatives and Reactive Adjustments
Best-cost provider
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STRATEGIC APPROACHES
♦ Building a competitive advantage by:
1. Striving to become the industry’s low-cost provider (efficiency). 2. Outcompeting rivals on differentiating features (effectiveness).
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Follow-up
• Which of McDonald’s Plan-to-Win strategy initiatives are associated with meeting customer needs more effectively?
• Which initiatives are focused on more efficiently delivering products and services?
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GAINING SUSTAINABLE COMPETITIVE ADVANTAGE
♦ How to create a sustainable competitive advantage:
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Develop valuable expertise and competitive capabilities over the long-term that rivals cannot readily copy, match or best. Put the constant quest for sustainable competitive advantage at center stage in crafting your strategy.
3. Focusing on better serving a niche market’s needs (efficiency and\or effectiveness).
4. Offering the lowest (best) prices for differentiated goods (best-cost provider).
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Crafting an action plan that will get us there
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WHAT IS STRATEGY ABOUT? ♦ Strategy is all about How:
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How to outcompete rivals. How to respond to economic and market conditions and growth opportunities. How to manage functional pieces of the business. How to improve the firm’s financial and market performance.
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THE RELATIONSHIP BETWEEN A FIRM’S STRATEGY AND ITS BUSINESS MODEL
Realized Strategy
Competitive Initiatives Business Approaches
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Business Model
Value Proposition