Week 5 & 6 - created from Mind Map

Porters generic series Competitive stratergy Competitive advantage

Focus strategy

Price based strategy

Hybrid strategy

Differentiation strategy

Stratergy lock in

Interactive strategy

Strategic driftStrategic flux

Organisational culture Linked to stratergy Formal vs Informal Optimal when?

How a business achieves competitive advantage in its industry

How a company makes its results better than that of competitors. 

Focuses on a clearly defined niche of customers and identifies their needs.

No frills strategy where low price means low quality/percieved value to customers. Buyers have high power.

seeks to differentiate product/service and offer lower price than competitors.

To create a higher perceived value of product/service so can justify higher price. Often will have to choose between expansion and targeting of smaller market.

When locked into one supplier due to high switching costs. e.g windows and its opperating system, cheap razors with only one type of blade can be used.

Strategy changes based on how competitors are performing and their current strategy. Constantly changing.

Strategies that tend to develop based on historical and cultral trends

Stratergy changes but with no clear direction, conflict within firm, drop in performance and customer service

How a firm is percieved. Functions staff attitudes affected by structure, layers of culture, Values, beliefs, behaviours, paradigm.

Can be a glue if widely accepted, can encourage or hinder innovation

1. Match culture and strategy 2. Focus on a few critical behaviour shifts 3. Honour the strengths of your existing culture 4. Intergrate formal and informal interventions 5. Measure and monitor cultral evolution.

align_clippings_on_this_page_please

Week 5 & 6

Annotations