Issues to cover for the presentation:
What is the company’s present situation?
Where does the company need to go from here?
How should it get there? (strategy)
How to grow the business
How to please customers
How to outcompete rivals
How to manage each functional piece of business
How to respond to changing market
How to achieve target performance
Objectives of the strategy
Improve financial performance
Strengthen competitive position
Gain competitive advantage over rivals
The issue of sustainable competitive advantage
An attractive number of buyers prefer its product/service over those of rivals
The basis of this performance is durable
Approaches to building competitive advantage
Be the low-cost provider
Differentiating feature (high quality, wide product range)
Narrow market niche
Key to identify company’s strategy:
1. Actions to gain sales and market share
2. Actions to respond to changing markets
3. Action to expand in new geographic markets
4. M&A to improve market standing
5. Actions to improve R&D, production, sales
6. Actions to correct for competitive weaknesses
Strategy in making (5 phases)
1. Developing strategic vision
We need to create our own. It should provide panoramic view of where we are going. Chart a strategic path. Has to be challenging and a bit beyond the immediate reach. Maybe think of a mission?
2. Setting objectives
Quantifiable and Measurable. Has to have a deadline. (Financial, strategic etc. http://redcouch.typepad.com/weblog/2006/10/stem_shares_sky.html ) 3. Implementing and executing the strategy
Operating excellence. Quality improvement. ( here we could talk about strategies of improving calls and dependency on internet. Also talk about availability of smartphones and where ti is best to integrate Skype.
5. Evaluating performance
Evaluate external environment
Here we talk about the...
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