Chapter 5 Business Level Strategy Successful business model is the product of successful business level strategies. A successful business model can give a company competitive advantage over rivals. To craft a successful business model‚ strategic managers must determine three issues stated below: 1. What to be satisfied-customer’s needs: Customer needs are the wants that can be satisfied by the means of attributes of the products. Customers choose a product based on: A. Product differentiation
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The founder of IKEA‚ Ingvar Kamprad registered his firm 1943. In 1958 he opened his very first IKEA store in Älhult‚ Sweden. From that moment‚ IKEA have continuously expanded by invaded new countries and opening new stores. Today IKEA is one of the leading home furnishings brands in the world with more than 235 stores in more than 30 countries. From being a one man enterprise IKEA now have astonishing 110‚000 co-workers and a turnover of over 20 billion Euros on a worldwide basis (IKEA website 2008)
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Corporate Strategy for Diversified Firm: (1) selection of industries to compete in (2) how the strategies of the business unit should be coordinated HORIZONTAL STRATEGY – coordinates the goals and strategies of related business units; should exist in the group‚ sector and corporate level; bottom-up H strategy rarely happens (the B unit managers have the resources and influence interrelationships) Emerging new pattern of competition – among clusters of related B units Why H strategy? – Horizontal
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patent application is listed in Appendix A. This application process is inclusive of protection within Canada. This application process can be long and costly depending on revisions. However‚ a patent application should be a large part of strategic business development if the industry heavily revolves around significant product changes and costly research and development (Shame‚ 2008). The advantages and disadvantages of obtaining a patent are listed throughout the rest of this report to determine
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Introduction With the advent of the information technology‚ specifically the internet‚ it is said that more and more companies are existing in the online world. The changes in the business market also allows customers to change and become more dependent on online stores and online shopping than go and find something in shopping malls or retail store. One of the existing and considered as the largest and competitive online shopping in the world is Amazon. In this report‚ the goal is
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MOTOROLA BUSINESS STRATEGY There are several strategy that Motorola use to gain competitive advantage to enter the market and widening their market opportunity to attract more customer to use their product. 1. Forward Integration strategies Motorola also now has their own website to give various information related to product and services that their offer. Through the creation of the website are causing an e-commerce activity between user and the retailer. The Motorola website also can be choose
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A global business strategy can be described as the strategies that a business has when they are serving customers around the world or operating in a global business environment (EconomyWatch‚ 2010). Global business strategies are closely related to the long and short term goals of an organization. Generally‚ short term goals deal with improving the day to day operations of the business. The long term goals on the other hand‚ deal with increasing profits and sales to strengthen the organization
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Business Strategy Air AsiaCompany BackgroundAir Asia is one of the companies that very successful in adopting the cost leadership strategy as one of their competitive advantages. Air Asia had been established on 12 december 2001 with Dato Sri TonyFernandez as the CEO. As what the slogan says now everyone can fly which actually attract thecustomers to buy the ticket and also they offer a lot of promotions to many destinations around asia andcustomers are chasing around in getting their promotions
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Chapter 1- What is strategy? Strategy- how to do better than your rivals What is the present situation? Where do we want to go? How will we get there? Strategy- doing things differently from rivals- competitive advantage Effectiveness & Efficiency Doing things differently than others either differently providing value Beauty is in the eye of the beholder Efficiently- “don’t care about value- but do it more efficiently Google focusing more on efficiency Sustainable Competitive advantage
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The IKEA vision is "To create a better everyday life for the many people." Our business idea is "To offer a wide range of well designed‚ functional home furnishing products at prices so low that as many people as possible will be able to afford them." the IKEA concept is based on the market positioning statement. "We do our part" focuses on our commitment to product design‚ consumer value and clever solutions. By using inexpensive materials in a novel way and minimising production‚ distribution
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