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SMMCG4[BS-4]LN7&LN8, ［SMMC-ETC ］G4 - Coggle Diagram
SMMC
G4
[BS-4]LN7&LN8
how to be effective strategic leader
prioritize which are the most important
use the experience and judgment and thought
has a series of tactical plans
to achieve the final goal
be a great listener and understand your people
talk to people that are in non analogous companies, non analogous industries.
a continually thirst to be acquisitive about things
don't chase lowest cost
humility
know yourself
Admit when you're wrong
Executive Expertise：Strategic Renewal
small startups
adventage for startups to against large rivals
flexibility
adaptability
robs-advisors
enter data
a financial plan
cognitive dissonance
people try to desensitize everything that's good
but make people want to change
learn new things that make the old decisions looking correct
trust and sincerity
challenge to change for big organization
bureaucracy
further the gap with competitors
throwing more things in the process of competition
add value to customers
adding and pivoting
4-2.1 Dual Strategies
cost leadership
differentiation advantage
avoid stuck in the middle
make the choice
Saab
an aircraft manufacturer
Ursaab
Saab owners
highly education
make profits with its traditional differentiated
1989 General Motors acquired 50% of Saab
reduce costs
1994 redesigned Saab 900
lost its distinctiveness
lack of enthusiasm
popular design
produce a profit
Saab was declared bankrupt in 2011
key factor
GM tried to reduce cost
unable retain key features that supported Saab's original differentiated positioning
dual advantage is so difficult
Michael Porter
trade-offs
trade-offs
trade-offs
the possibility of creating more differentiation with the possibility of reducing costs
if the company doesn't choose a clear strategy
stuck in the middle
Dell
customized computer orders
differentiation advantage
avoid holding inventory and having unsold product
Honda & Toyota
total quality management (TQM)
manufacturing high quality automobiles
do away with costly rework and repair
gain customer value
Fundamental management innovations that simultaneously helped companies to decrease or at least control costs while increasing value at the same time.
trade-offs
cost
successful dual strategies
clear communication
discipline
differentiation
Executive Expertise：Strategic Positioning
How is your strategically positioned in the marketplace-what mix of cost v differentiation and brand v. narrow scope does it use?
First executive
Strategically position of Fieldglass.
Never be a the lowest price provider.
Avoiding feature war, and sell on the basis of the overall company.
Not to sell specific features
Even if we are lack of feature
Our functionality is going to be superior
:Being able to sell on an overall commitment to continue evolving this product.
Try not to make it the primary part of our sale
Feature war is just like a flip of the coin.
Just depends on what our product happens to be, and what happens to be important to people.
Let customers join company ecosystem.
Group of other global 2,000 companies.
Customers caan learn more from it.
Overall value proposition of company.
Different industries responded to different aspects of that messaging depending on really what was most important to them
Fieldglass
Compliance
Quaility
Cycle time
Cost time
Financial services firms
Do not really care about cost savings
Cycle time is the most important thing.
Mining industry
Not really rate sensitive and cycle time sensitive
Just care about compliance was done
Safety was the most important thing
Second executive.
We're definitely focused on more differentiation across different dimensions.
Ease of use
Across service and customer orientation
We're going to provide great value
Provide so much value to the relationship and build so much brand value with the customer
The challenge on the cost side always has to do with the fact that not being a bank
Cost of capital is virtually zero
Probably win just on a pure cost perspective
Across regulatory environment and scheme
Transparency and clarity
Third executive
Service space and we're also in the value add space.
Why?
In efficiency field
Never be more efficient than Geico.
In product innovation
Never be innovate as some of the newer companies that are coming online inside the space
When it comes down to customers.
Country has at its disposal about every product that taking care of their life needs
Geico Progressive State Firm, they've all done a great job of making it a price play
Saving you 15 percent in 15 minutes
Saving you more in shorter bidder into time
We tried to do is ensure that we hit our target market with a value that they need
Target market ：middle-income
We are brokers of our company.
We're in a price-driven society for maybe entry into some of the products.
But , we'll never be the lowest cost,we'll be close.
There is a challenge though of trying to be low-cost, innovative, and have great service.
End up in the undifferentiated middle.
People do not know why they choose you and why you are here.
Example：JD Powers
Always up there in the very top .
Because of the fact is personalized service and commitment
4-3.1 Strategic Renewal
Background
losing strategic alignment can be a major reason for a company to seek strategic renewal.
defeated by WalMart and Amazon because Circuit City has higher price than others
The company was simply unable to adapt its overall strategy to this new environmental reality
Kodak was defeated because the advent of digital camera
What is strategic Renewal?
Strategic renewal is the process of change and the outcome of adjustment in strategic direction that have the potential to determine the long-term competitivity of a firm.
how to apply strategic renewal in business?
Analyze Dynamic capabilities first
which is ability to achieve new forms of competitive advantage
Using 3P framework
Positions
Resource own and available
1 more item...
Paths
Opportunities and strategic options
1 more item...
Processes
Well-developed activities and routine
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4-1.1 Generic Business Strategies
Competitive Advantage
Differentiation advantage
price premium from unique product
emphasizes value creation for customers rather than cost-control and produces higher EVA(Economic Value Added ) and profits
Cost leadership
similar product at lower cost
emphasis on controlling costs in order to generate economic value added and profits
Type of competitive advantage
Cost leadership strategy
focuses on trying to bring costs down
Differentiation advantage strategy
companies focus on increasing the value created for customers, often a subset of customers
successful differentiator
charge a price premium above what its typical competitors
be able to track customers
Average industry competitor
competitor incurs a certain cost but produces more value for customers
thus creates some economic value
Understand what drives cost or customer value in a particular business
figure out how the firm's internal capabilities
value chain or value network
applied to these cost or value drivers
Walmart
develop strong supplier relationships
gathering detailed supplier cost data
analyzing consumer buying behavior
collecting price sensitivity data
hardball negotiation tactics with suppliers
building a great procurement capability
Some input costs are reduced by building or acquiring key resources
network/ a fleet of trucks/ good IT system for managing the logistics
Differentiation Value Drivers
Identifying customers' value drivers
Market research
Company insights
Common value drivers
Product features
Customer service
Customization
Complements
Delivering value
Activities
Resources
Capabilities
Positioning and competitive scope
Genetic strategy
Broad Target Market
Narrow Target Market
Focused Low Cost
Focused Differentiation
Cost Leadership
Differentiation
Value
Cost
［SMMC-ETC ］G4
國企三 蔡彤欣
國企三 王郁茹
國企三 陳儀蓁
東南亞四 許映潔
東南亞三 黃玉龍
國企三 洪潔宜
國企三 朱揚絢