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SMMCG8[BS-1] Leading Strategically, Ex. Netflix, Ex. Razor, Ex. Netflix,…

- - - - Three main purposes
        
        transparent to all stakeholders (customers, investors, employees, or business partners)
        
        play an important role in coordinating action
        
        easier to resolve disputes about the future direction
        
        a great inspiration for managers and employees
        
        give a sense of purpose and motivation
      - A brief statement about company's goals and objectives
      - A good corporate mission
        
        the creation of some type of customer or social value, not being the best or simply making money
        
        focus on important needs or problems to address, not products or services
        
        be worthwhile if it is lived and practiced by the company
        
        be memorable, inspiring, brief statements
      - There are good ones and bad ones
    - - A short aspirational statement about the future direction and impact of a company
      - A good vision statement
        
        very powerful
      - May change occasionally unlike missions
      - Strategic Intent
        
        a stretch vision, with a strategic plan for getting there
    - - companies hold and will stick to
      - as a "code of conduct" for the company and its employees
        
        how we will behave as a company
        
        how we expect employees to behave
      - Ex. Google
        
        “You can make money without doing evil” often shortened to “don’t be evil.”
        
        have a real impact on how Google operates
  - - - have a key responsibility to communicate the company’s mission vision and values
        
        set an example by their own behavior
        
        encourage and urge others to follow
    - - Failure
        
        ex : Enron
        
        Energy Company
        
        2000 annual report
        
        Company's Core Value
        
        Respect
        
        1 more item...
        
        Integrity
        
        1 more item...
        
        Communication
        
        1 more item...
        
        Excellence
        
        1 more item...
        
        Went bankrupt in 2001
        
        Excessive risk-taking
        
        Highly unethical behavior
        
        Culture of greed
        
        Cut-throat competition
        
        Failure to uphold its own values
      - Success
        
        Designed well
        
        Lived and practiced
        
        Constantly communicated by leaders
        
        A true reflection of the ethos of the company
  - - - everybody needs to know why they come to work in the morning
        
        mission should be connected it to your values and strategy
      - have to be motivated and passionate about what you do
        
        do everything has to correlate with that mission
        
        Need to have a mission
        
        Strategic exercise
        
        Come up with values sound great
        
        Any person in the company they won’t know
      - kind of / real art to crafting a mission statement
        
        positive
        
        evangelize that they spend time with people
        
        which is acceptable for our company and for our employees to act to be able to accomplish the mission statement
        
        nagative
        
        get caught up in the day-to-day struggles
        
        not all organizations do well
- - - - soccer
        
        work together with common understanding and consistency of approach
      - company
        
        strategy must be coherence
        
        first rule of strategy
        
        company's strategy must be coherent within the organization
  - - - soccer
        
        different players are assigned to different roles in soccer
        
        adapt to the external environment is important
        
        strategy should ideally be adapted to all of these external condition
        
        need consider many external conditions
        
        attempt to use strategies that align our internal strengths and abilities as a team with the external environment in the most effective way
      - company
        
        strategic fit
        
        the idea of aligning internal aspects of an organization with the external environment
        
        central insight
        
        find a good strategic fit between the company's organization and the external environment
        
        essential to ensuring the company's long-term successful performance
  - - - an early strategy framework
      - incorporates this idea of strategic fit and a lesser extent coherence
      - see elements of idea of coherence in swot (strength and weaknesses half)
      - general idea: check these four elements and find out the company's strategic conclusions
    - - internal element of company
        
        +
    - - external environment
        
        the idea of strategic fit
        
        quite central to swot
        
        =
    - - The SWOT framwork and the specific course of action have no clear connection to the company's final performance.
      - It is often confusing to put the four aspects in which aspect.
        
        Suggestion
        
        SWOT should only be the starting point for your strategic analysis.
      - The any analysis is open-ended, there is no accurate analysis of content and extremely subject.
- - - - make extra money
      - flexible workhours
      - enjoy the moment of interaction with customers
    - - social security number
      - DMV check
      - background check
    - - Customer pay within credit card
        
        The pay will go right into driver's bank account
- - - - Two-side markets
    - - customer segments scope
        
        anyone who has a smartphone is a potential customer
        
        the broader is customer base, the better Uber can match drivers and customers
        
        lower wait times and costs
      - vertical scope
        
        outsources
        
        software and web services
        
        data storage, mapping, and GPS data services, even some software development
      - horizontal scope
        
        compare the different geography scope
        
        find the the ideal locations
        
        local delivery etc
        
        UberX:premium limousine type Services
    - - the app, the algorithm, the management of drivers, payment processing, surge pricing
        
        convenience and timeliness
      - efficiently matching drivers and rides
        
        cuts down on driver and car idle time
      - app
        
        no more human taxi dispatchers, and it taps into a large pool of part-time drivers in their cars
        
        lower costs
    - - development of software
        
        company's algorithms
      - marketing
        
        signing up and keeping drivers, as well as getting more riders
      - the value of political activities & related capabilities
        
        hinge on dealing with local politics, regulatory
        agencies, taxicab commission, city......
- - - - Video rental stores
        
        Closed
        
        Replaced by Internet video services like Netflix, and to video rental which have popped up everywhere in the United States
      - Video rental stores
        +
        liquor store
        
        Still alive
        
        have very less effective internet-based competition
    - - Country Financial
        
        have a business model of the typical captive financial representative
        
        dedicated agent who's delivering financial security
        
        Good with income statement and balance sheet
    - - value-added
      - deliver advice
      - understand your business model
      - recognize and revised problem
    - - V
        
        for the value proposition delivered by the business model
      - A
        
        for the activities, resources, and capabilities needed to implement the business model
      - R
        
        for the realization of value or the revenue model used
      - S
        
        for the scope of the enterprise pursuing this business model
  - - - EVA
        
        creating more value for customers
        
        Offering wide variety of videos from home, and the Netflix recommendation system
        
        reducing the cost of producing value
        
        reduces costs by avoiding owning and operating stores and carrying large in-store inventories
      - offer a new value proposition
        
        increase economic value added
        
        introduce something new to the way the business is operated
      - non-technological capabilities
        
        important even in these technology- driven business models
      - business's revenue model
        
        taking a durable product and then selling services from it
        
        leasing and subscription models
      - razor-blade model
      - freemium model
        
        digital products are offered for free
        
        premium add-ons are also offered that cost money
        
        get users to try the service, which may then entice them to pay for the upgrade
      - revenue models consisting of two-sided markets
        
        two interested parties are matched in a product and the company benefits by charging one party
      - multi-sided platforms and ecosystems
        
        attract multiple participants to jointly create value and then charge some of them for access or transactions or services
      - Another key element
        
        scope of the enterprise
        
        customer segments the business wants to serve
        
        business's horizontal scope
        
        the business's vertical scope along the so-called value chain
    - - What exactly is a business model?
        
        a way to make revenue
        
        First interview
        
        discuss how a company makes money&how the expense relate to the process of making money
        
        traditional industry
        
        manufacturing approach
        
        make money
        
        spend money
        
        1 more item...
        
        revolution approach
        
        google changed it.
        
        Second Interview
        
        Avant's business model
        
        Value Proposition
        
        alternatives for middle-class customer around the world
        
        for customers and Avant
        
        be the best provider of credit products
        
        customer segment
        
        the people who have a 100000 on income
        
        50 plus percent of the US population
        
        Business content
        
        provide product alternatives across all of ther credit verticals
        
        ex:launching a credit card product
        
        1 more item...
        
        Innovative usage habits
        
        If you need to borrow money
        
        Avant
        
        1 more item...
        
        bank
        
        1 more item...
        
        New business model for Netflix
        
        value proposition
        
        sampling is easily
        
        new revenue model
        
        subscription model
        
        the customer can watch sample parts of a movie or
        a TV program for free
        
        New activities, resources,or capabilities
        
        Internet enabled technologies
        
        scope of enterprise
        
        ARC
        
        Business model definition
        
        pragmatic theory of how a business will create and realized value
        
        like experiment
        
        should be ready to revise your business model when facing with such contrary evidence.
        
        must remain a high-level abstracrion anddescription of core elements
        
        business model don't need to be specific to a particular firm