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strategic market management (five management tasks (strategic analysis…
strategic market management
business strategy
four dimensions
where to compete
product market investment strategy
How should investment resources be allocated?
investment patterns
growth directions matrix
market expansion
product expansion
diversification
market penetration
invest to grow
invest to maintain position
milk business by min investment
recover assets by liquidating or digestion
how to win
customer value proposition
strategies
good value
excellence on an important product or service attribute
best overall quality
innovative offerings
shared passion for an activity or a product
product line breadth
global connections and prestige
assets and competencies
types
strategic competency
Something of strategic importance that a business unit does exceptionally well
strategic asset
a resource that is strong relative to competitors
examples
brand name
knowledge
process
synergies
are significant because they are based on organizational characteristics that are not easily duplicated
examples
reducing cost by sharing distribution system, sales force or logistic system
function
Underlies strategy and provides a sustainable competitive advantage (SCA)
functional strategies and programmes
function
the need for functional strategies and programmes can be determined by asking questions
are assets and competencies needed in place?
do they need to be created, strengthened, or supported? How?
what must happen for the firm to be able to deliver on the value proposition?
supports the value proposition and the set of assets and competencies and help to manifest them in reality
criteria for selecting buisness strategies
six questions
Is ROI attractive?
Is there a SCA?
will the strategy have success in the future?
is the strategy feasible?
does the strategy fit with the other strategies of the firm?
five management tasks
strategic analysis
resources and competencies directed at getting, filtering and converting information about customers, competitors and trends into actionable analysis
innovation
challanges dimensions
organization
create a context that supports innovation
brand portfolio
make sure that innovation is owned and not a short lived market blip
strategic
create the right mix of incremental and transformational innovation
execution
turning innovation to market offerings
multiple businesses
Organize in such a way to facilitate the advantages of the decentralized structure of accountability, deep understanding of product, being close to the customer, and fast to response while avoiding its pitfalls like misalllocation of resources, redundancies, failure to capture cross buisness potential synergies and confused brands
creating sustainable competitive advantages (SCAs)
cornerstones
development of assets
competencies
sponsorship expertise
leveraging of organizational synergy
developing growth platforms
ways
revitalizing core buisnesses
creating new business platforms
strategic market management