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Transcript of Strategy marketing products
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AGENDA
Hierarchy of Strategy
Two Foundational Schools of
Thought What is Strategy?
Crafting Strategy
Strategy Concept I: 5 Ps
Honda Cases
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Strategic Analysis
Simulated Company
External Analysis
Internal Analysis
Mission
& Vision
Business
Corporate
International
Strategy
What is
Strategy?
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Hierarchy of Strategy
Corporate
In which businesses should we be?
How should we manage the array of
businesses? Business
How should we compete in a given business?
Functional
How best can each function support thebusiness level strategy?
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Two Schools of Thought
IO Model of SuperiorProfitability
Resource-Based Theory of theFirm
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IO Model of Superior Profitability
Assumptions:
The external environment imposesconstraints that determine the strategies
that can result in superior profitability. Competing firms control similar resources
and pursue similar strategies
Resources utilized by firms are highlymobile - - thus homogeneous
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IO Model of Superior Profitability
Prescriptions: Firms must look forattractive industries in which tocompete
Emphasis: External environment,especially the Industry - analyze it!
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Resource-Based Theory of the Firm
Assumptions:
Firms acquire different resources overtime
Resources heterogeneity within aparticular industry
Resources may not be highly mobileacross firms
Difference in resources and how they areused form the basis of competitiveadvantage
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Resource-Based Theory of the Firm
Prescriptions: Firms should look attheir resources and then see how theycan be used
What about the resource makes it asource of competitive advantage?
Valuable
Rare
Imperfectly imitable
Organized
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Resource-Based Theory of the Firm
Emphasis: Organization, especially itsresources
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External Analysis
Opportunities
Threats
Internal Analysis
Strengths
Weaknesses
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External Analysis
Opportunities
Threats
Internal Analysis
Strengths
Weaknesses
Strategic Mission
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The Five Ps
Plan: A consciously intended course ofaction
Ploy: A maneuver intended to outwit a
competitor Pattern: Consistency in a stream of
actions
Position: Niche or product-market
domain place in the industry Perspective: An ingrained way of
perceiving the world
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Strategic Intentions
IntendedStrategy DeliberateStrategy
UnrealizedStrategy
EmergentStrategy
RealizedStrategy
