CHAPTER 1. What is strategy and why is it important. Strategic management: analysis‚ formulation and implementation in the search for competitive advantage. What strategy is : Gaining & Sustaining Competitive Advantage. There has always been a desire to outperform our competitors. In most of the situations‚ the winners are generally those with the better strategy in which strategy is formulated as the planned and realized set of actions a firm takes to achieve its goals. A firm that
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Generic Strategies Strategy concerns two factors‚ deciding where you want a business to go‚ and deciding how to get there. According to Grant (2010) “A firm can achieve a higher rate of profit (or potential profit) over a rival in one of two ways: either it can supply an identical product or service at a lower cost‚ or it can supply a product or service that is differentiated in such a way that the customer is willing to pay a price premium that exceeds the additional cost of differentiation.” This
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Strategy Strategy sets the organizations direction and provides the framework that management will use to achieve to goals through strategic‚ tactical and operational planning. When developing a strategy‚ managers answer such questions as "What products should we make?" "What markets should we serve?" What operations should we use?" "How should we compete?" To effectively answer these questions‚ managers consider four elements when they create organizational strategies. STRATEGY LEVELS
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Indicate internal links within the activities‚ if any. Show how the activities of the value chain are linked to company strategy and structure and how these links enhance competitive advantage.(or show the lack of these links and divergence of activities-scope for improvement in value chain.).Explore external links (eg. alignment of activities with vendors that enhances differentiation.) * Conclude-Reflect on overall shift in value chain over time OR difference with competitor’s value chain and how
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CHAPTER 6 STRATEGY FORMULATION: CORPORATE STRATEGY Corporate Strategy Corporate strategy deals with three key issues facing the corporation as a whole: 1. Directional strategy- the firm’s overall orientation toward growth‚ stability‚ or retrenchment 2. Portfolio strategy- the industries or markets in which the firm competes through its products and business units 3. Parenting strategy- the manner in which management coordinates activities‚ transfer resources‚ and cultivates
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Business Strategy Yeo’s compete directly with one another at what is called the business level of strategic management. Competitors may be individual business units of a larger corporation or they may be stand- alone businesses. Because competition takes place at the business level‚ strategic management here is crucial to the overall success for Yeo’s . Accordingly‚ the concept of competitive advantage is both the focus of the three subsequent on strategy formulation. There is three parts that
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COMPETITIVE STRATEGIES ADOPTED BY EQUITY BANK LIMITED By Chege Bernard K. K. A Management Research Project submitted in partial fulfilment of the requirements for the degree of Master of Business Administration (MBA)‚ School of Business‚ University of Nairobi October 2008 ii DECLARATION This project is my original work and has not been submitted for a degree in any other university. Signed: ____________________________________ Chege Bernard K. K. Regn No: D61/P/8500/04 Date: _______________________________________
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Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.[1] Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation‚ evaluation and selection of market-oriented strategies and therefore contribute
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International diversification is a strategy which a firm expands the sales of its goods or services across the borders of global regions and countries into different geographic location or markets. An international strategy is a strategy through which the firm sells its goods or services outside its domestic market. An international strategy results in international diversification. Firms pursue an international strategy to seek new opportunities to create value in international markets. The primary
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company and its growth patterns Examining the Strategy Formulation variables faced by the company – By identifying‚ developing and implementing a strategy to counter the economic slowdown Target Audience • • • Postgraduate Management Students with substantial work experience Business Executives under going MDP in General Management / Business Policy Participants of Advance Courses on Strategy Formulation and Implementation Key Words Strategy‚ Growth‚ Slowdown‚ Internet ‚ Verticals
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