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Strategy

Strategy. Chapter 7 T. A. Sgritta UNC Charlotte. Overall Business Strategy. New Tools for Strategic Planning Chapter 7 of ESB. ESB Pick an Industry. NTSP Use SWOT and mission to pick a business. Strategy: Small Business. ESB Industry analysis. NTSP ch. 6: Data www.census.gov

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Strategy

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  1. Strategy Chapter 7 T. A. Sgritta UNC Charlotte

  2. Overall Business Strategy • New Tools for Strategic Planning • Chapter 7 of ESB

  3. ESB Pick an Industry NTSP Use SWOT and mission to pick a business Strategy: Small Business

  4. ESB Industry analysis NTSP ch. 6: Data www.census.gov Trade associations Industry Analysis

  5. ESB Imitation vs. innovation NTSP SWOT, industry, market, competition, mission and location analysis Overall Strategy

  6. Finding Industry Data • Library • Major public firms • www.census.gov naics • www.census.gov cir (current industry reports) • Competitors • Direct (interview) or developed • Trade associations

  7. Finding Profitability • Library • Publicly traded corporations • BuzStats.com

  8. Benefits (Basis of Competition) • Cost • Value

  9. Value Benefits • What is the product? • Hardware • Software • Service

  10. Value Benefits • What is the product? • Feature • Function • Benefit Be sure to look from the customer’s point of view! Ideas? See list page 180

  11. Tool: SWOT Analysis • Strengths - Unique or valuable assets from which to build. • Opportunities – The unfilled needs, existing or potential, for one or more or a combination of our strengths. • Weaknesses – Internal impediments that limit an organization’s ability to match strengths with opportunities.. • Threats – Specific outside influences, beyond competition as usual, which can damage the ability to marry strengths and opportunities, or to significantly damage existing business.

  12. Tool: SWOT Analysis • Brainstorming • Value Chain • Resource Analysis • Use +, 0, - rating system

  13. Strategy Selection • Find the best marriage of strengths and opportunities • Results are the basis for determining mission • Find ways to overcome weaknesses and threats

  14. Supra Strategies • Craftsmanship • Customization • Super-support • Serving the underserved • Elite, high quality products • Single mindedness • Comprehensiveness

  15. Murphy Panel (single mindedness)

  16. Specific Strategy Selection • Build on strengths • Find opportunities for strengths • Identify mission (use supra-strategies as appropriate) • Develop action plans to • Take advantages of opportunities • Solidify mission • Overcome weaknesses and threats

  17. Advantages • Tangible • Intangible • Organization capabilities

  18. VIRO • Valuable • Rare • Imitabilty • Organization (fit)

  19. Life Cycle Considerations • See chart page 194

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