TAILIEUCHUNG - Lecture Crafting and executing strategy: Chapter 6 - Thompson, Peteraf, Gamble, Strickland

Chapter 6 - Strengthening a company’s competitive position: Strategic moves, timing, and scope of operations. The objectives of this chapter are: Learn whether and when to pursue offensive or defensive strategic moves to improve a company's market position, recognize when being a first mover or a fast follower or a late mover is most advantageous, become aware of the strategic benefits and risks of expanding a company's horizontal scope through mergers and acquisitions,. | CHAPTER 6 STRENGTHENING A COMPANY’S COMPETITIVE POSITION: STRATEGIC MOVES, TIMING, AND SCOPE OF OPERATIONS STUDENT VERSION MAXIMIZING THE POWER OF A STRATEGY Offensive and Defensive Competitive Actions Competitive Dynamics and the Timing of Strategic Moves Scope of Operations along the Industry’s Value Chain Making choices that complement a competitive approach and maximize the power of strategy GOING ON THE OFFENSIVE—STRATEGIC OPTIONS TO IMPROVE A FIRM’S MARKET POSITION Strategic Offensive Principles: Focus on relentlessly building competitive advantage and then converting it into sustainable advantage. Apply resources where rivals are least able to defend themselves. Employ the element of surprise as opposed to doing what rivals expect and are prepared for. Display a strong bias for swift, decisive, and overwhelming actions to overpower rivals. 6–3 CHOOSING WHICH RIVALS TO ATTACK Market leaders that are in vulnerable competitive positions Runner-up firms with weaknesses in areas where the challenger is strong Struggling enterprises on the verge of going under Small local and regional firms with limited capabilities Best Targets for Offensive Attacks BLUE-OCEAN STRATEGY— A SPECIAL KIND OF OFFENSIVE The business universe is divided into: An existing market with boundaries and rules in which rival firms compete for advantage. A “blue ocean” market space, where the industry has not yet taken shape, with no rivals and wide-open long-term growth and profit potential for a firm that can create demand for new types of products. 6–5 DEFENSIVE STRATEGIES—PROTECTING MARKET POSITION AND COMPETITIVE ADVANTAGE Lower the firm’s risk of being attacked Weaken the impact of an attack that does occur Influence challengers to aim their efforts at other rivals Purposes of Defensive Strategies TIMING A FIRM’S OFFENSIVE AND DEFENSIVE STRATEGIC MOVES Timing’s Importance: Knowing when to make a strategic move is as crucial as knowing what move to make. Moving .

• Quản trị kinh doanh
• Competitive advantage
• Lecture Crafting and executing strategy
• Crafting strategy
• Executing the strategy
• Company’s strategy
• Distinctive strategy
• 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
• The competitive advantage of smal
• Medium sized enterprises
• Fundamentals of marketing
• Lecture fundamentals of marketing
• Marketing mix
• Marketing task
• Marketing management
• Creating competitive advantage
• Strategic management
• Executing strategy
• Business models
• Management information systems
• Introduction to management information systems
• Business information technology
• Information systems
• Achieve competitive advantage
• Differential Advantage
• Identity ManagementStrategic Branding Decisions
• Destination Branding
• Advantage of the firms
• Capital or unskilled labour
• Human resource capital
• Role of human resources
• Five competitive strategies
• Low cost provider strategies
• Best cost provider strategies
• Company’s resources
• Competitive assets
• Principles of Marketing
• Lecture Principles of Marketing
• Marketing strategy
• Competitor analysis
• Competitive strategies
• Market positioning
• Company’s competitive position
• Operations management
• Operations strategy
• Operations competitive dimensions
• Strategy design process
• Productivity measures
• Modern competitive strategy
• Competitive strategy
• Strategic planning
• Strategy execution
• Growth and innovation
• Strategy over time
• Company’s external environment
• Competitive forces
• Summary Doctoral thesis
• Enterprise knowledge management system
• Enhancing competitive advantage
• Small and medium enterprises
• Strategic alliances
• Acquisition strategies
• Vertical integration strategies
• Foreign markets
• Strategy options
• Profit sanctuaries
• Emerging industries
• High velocity markets
• Maturing industries
• Entering new businesses
• Strategic partnerships