TAILIEUCHUNG - Lecture Crafting and executing strategy (15/e): Chapter 4 - Arthur A. Thompson, A. J. Strickland III, John E. Gamble

Chapter 4 - Evaluating a company’s resources and competitive position. In this chapter, we will address the following questions: How well is the company’s present strategy working? What are the company’s resource strengths and weaknesses and its external opportunities and threats? Are the company’s prices and costs competitive?. | Evaluating a Company’s Resources and Competitive Position Screen graphics created by: Jana F. Kuzmicki, . Troy University-Florida Region 1. How well is the company’s present strategy working? 2. What are the company’s resource strengths and weaknesses and its external opportunities and threats? 3. Are the company’s prices and costs competitive? 4. Is the company competitively stronger or weaker than key rivals? 5. What strategic issues merit front-burner managerial attention? Company Situation Analysis: The Key Questions Fig. : Identifying the Components of a Single-Business Company’s Strategy Question 1: How Well Is the Company’s Present Strategy Working? Must begin by understanding what the strategy is Identify competitive approach Low-cost leadership Differentiation Focus on a particular market niche Determine competitive scope Broad or narrow geographic market coverage? In how many stages of industry’s production/distribution chain does the company operate? Examine recent strategic moves Identify functional strategies Key Considerations Qualitative assessment – Is the strategy well-conceived? Covers all the bases? Internally consistent? Makes sense? Timely and in step with marketplace? Quantitative assessment – What are the results? Is company achieving its financial and strategic objectives? Is company an above-average industry performer? Approaches to Assess How Well the Present Strategy Is Working Trend in sales and market share Acquiring and/or retaining customers Trend in profit margins Trend in net profits, ROI, and EVA Overall financial strength and credit ranking Efforts at continuous improvement activities Trend in stock price and stockholder value Image and reputation with customers Leadership role(s) – Technology, quality, innovation, e-commerce, etc. Key Indicators of How Well the Strategy Is Working S W O T represents the first letter in S trengths W eaknesses O pportunities T hreats For a company’s strategy to be well-conceived, it must be

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• Competitive advantage
• Lecture Crafting and executing strategy
• Crafting strategy
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• Company’s strategy
• Competitive position
• The mediating effect of entrepreneurial marketing
• The relationship between environmental turbulence
• Dynamic capability with sustainable competitive advantage
• An empirical study in Indonesian MSMEs
• Sustainable competitive advantage
• SEM PLS developed a model showing
• The competitive advantage of small and medium sized enterprises
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• Fundamentals of marketing
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• Introduction to management information systems
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