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Strategic Management (Strategy is? (Positioning map (Strategic positioning…

- - - - Lower price limits the ability to invest for long-term
      - Value = Benefits Received - ( Price + Hassle Inconvenience)
      - Expand the frontier
  - - - Variety-based positioning
        
        Serving many customers, but only a sub-set of needs (eg. specialty retailers, doing different activiities)
      - Needs-based positioning
        
        Serving most needs of a defined group, eg. Amazon
      - Access-based positioning
        
        Reaching customers through a new approach, eg. Teledoc
- - - - External Analysis (Macro)
        
        Strengths
        
        Weaknesses
        
        PESTLEC Factors
        
        Politics
        
        Economics
        
        Society / Culture
        
        Technology
        
        Legal / Regulatory
        
        Environment (natural)
        
        Competition
      - Internal Analysis (Micro)
        
        Opportunities
        
        Threats
  - - - Growth
      - Stability
      - Retrenchment
    - - BCG model
    - - Red Ocean Strategy
        
        Competing in existing market
        
        Beat competition
        
        Capture more of existing demand
        
        Make the value/cost trade-off
      - Blue Ocean Strategy
        
        New market creation
        
        Make competition irrelevant
        
        Create new demand
        
        Disprove the value / cost trade-off
    - - SMART
      - Programs & Tactics
      - Budget
      - Procedures
      - 4 building blocks of Strategy Execution
        
        Clarify decisions rights (2x as important)
        
        Design / Facilitate information flows (2x as important)
        
        Align motivators (Average important)
        
        Change structure (Least important)
      - Mapping tactics to 4 building blocks
    - - Invention
        
        Technical solution to a problem and CREATE new product
      - Innovation
        
        Improvements
        
        3 tests to product innovation
        
        Concept test
        
        Product test
        
        Market test
    - - Eliminate defects
      - Reduce
        
        Costs
        
        Cycle times
        
        Inventory
      - Increase
        
        Market share
        
        Profits
        
        Employee morale
        
        Customer satisfation
- - - - EFAS
        External Factor Anaysis Summary
        
        Average score is?
        
        . > 3.0 ?
        
        < 3.0 ?
- - - - Economic Responsibility
      - Legal
      - Ethical
      - Philanthropic
- - - - Finance
      - Sales
      - Retail, E-commerce
      - Marketing
      - Brand management
      - Regulatory & Legal
      - Public relations
      - International expansion
      - Technology
    - - CEO responsibilities
        
        Operation
        
        Finance
        
        HR
        
        Marketing
        
        R&D