Business-Level Strategy 5 Three Generic Strategies Towards Competitive Advantage Overall cost leadership

Business-Level Strategy 5 Three Generic Strategies Towards Competitive Advantage Overall cost leadership www.phwiki.com

Business-Level Strategy 5 Three Generic Strategies Towards Competitive Advantage Overall cost leadership

Fields, Kenda, Morning Joy Host has reference to this Academic Journal, PHwiki organized this Journal Business-Level Strategy Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Strategic Management: Text in addition to Cases, 4e 5 Three Generic Strategies Towards Competitive Advantage Overall cost leadership Differentiation Focus strategy Examples of Each Companies pursuing an overall cost leadership strategy McDonalds Wal-Mart Companies pursuing a differentiation strategy Harley Davison Apple Companies pursuing a focus strategy Rolex Lamborghini

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Three Generic Strategies Overall Cost Leadership Vs. Differentiation Exhibit 5.3 Value-Chain Activities: Examples of Overall Cost Leadership Source: Adapted with the permission of The Free Press, a division of Simon & Schuster, Inc., from Competitive Advantage: Creating in addition to Sustaining Superior Per as long as mance by Michael E. Porter. Copyright © 1985 by Michael E. Porter. Comparing Experience Curve Effects Exhibit 5.4 Comparing Experience Curve Effects

Overall Cost Leadership: What are some of the benefits of this strategic position What are some of the challenges of this strategic position Differentiation Several dimensions at once Price premiums must exceed extra costs of being unique Requires value chain integration Speed or quick response Differentiation What are some of the benefits of this strategic position What are some of the challenges of this strategic position

Focus Focus is a selection of a narrow competitive scope within an industry Two variants Cost focus Differentiation focus Focus Strategies What are some of the benefits of this strategic position What are some of the challenges of this strategic position Combination Strategies: Integrating Overall Low Cost in addition to Differentiation Firms that successfully integrate differentiation in addition to cost strategies obtain advantages of competition from both approaches Firms that fail to attain both strategies may end up with neither in addition to become “stuck in the middle”

Life cycle of an industry affects the appropriateness of a given strategy Introduction Growth Maturity Decline Strategies in the Introduction Stage Products are unfamiliar to consumers Market segments not well defined Product features not clearly specified Competition tends to be limited Develop product in addition to get users to try it Generate exposure so product becomes “st in addition to ard” Strategies Strategies in the Growth Stage Characterized by strong increases in sales Attractive to potential competitors Primary key to success is to build consumer preferences as long as specific br in addition to s Strategies Br in addition to recognition Differentiated products Financial resources to support value-chain activities

Strategies in the Maturity Stage Market becomes saturated, few new adopters Direct competition becomes predominant Marginal competitors begin to exit Strategies Efficient manufacturing operations in addition to process engineering Low costs (customers become price sensitive) Strategies in the Decline Stage Industry sales in addition to profits begin to fall Strategic options become dependent on the actions of rivals Strategies Maintaining Exiting the market Harvesting Consolidation

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Fields, Kenda Morning Joy Host

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