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Competitive Strategies Ch .5 of Strategic Management in Action

Competitive Strategies Ch .5 of Strategic Management in Action. Team 6: Michael Grizzle, Ryan Moeller, Stuart Gaston, Tate Rouche , Justin Schamp, Rachel Camunez. Understanding the Competitive Environment . What is competition?

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Competitive Strategies Ch .5 of Strategic Management in Action

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  1. Competitive StrategiesCh.5 of Strategic Management in Action Team 6: Michael Grizzle, Ryan Moeller, Stuart Gaston, Tate Rouche, Justin Schamp, Rachel Camunez

  2. Understanding the Competitive Environment • What is competition? • When organizations battle or vie for some desired object or outcome. • Who Are Competitors? • 3 approaches to defining an organizations • Industry • Market • Strategic Groups

  3. The Role of Resources and Distinctive Capabilities in Gaining Competitive Advantage • Organizations develop strategies that exploit resources and capabilities to get a competitive advantage, thus setting the stage for competition.

  4. From Competitive Advantage to Competitive Strategies • Competitive strategy: • Strategy for how an organization or business unit is going to compete

  5. Traditional Approaches to Defining Competitive Strategy • Miles and Snow’s adaptive strategies • 1. Prospector • 2. Defender • 3. Analyzer • 4. Reactor • Porter’s generic competitive strategies • 1. Cost leadership • 2. Differentiation • 3. Focus • 4. Stuck in the middle

  6. Contemporary Views on Competitive Strategies • 1. Integrated low cost- differentiation strategy • Involves simultaneously achieving low costs and high differentiation • 2. Mintzberg’s generic competitive strategies • An organization’s strategy is either differentiation or being undifferentiated

  7. The Role of Functional Strategies • Competitive strategies are implemented through the functional strategies: • Resources and distinctive capabilities found in the functional areas influence which competitive strategy is feasible • Functional strategies support the organization’s competitive advantage and strategy

  8. Competitive Actions • Competitive strategies are also implemented through competitive strategies • 1. Offensive moves • 2. Defensive moves

  9. Evaluating and Changing Competitive Strategy • Competitive strategies are evaluated by the performance results obtained. • What competitive weaknesses and strengths does the organization have? • Changing the competitive strategy isn’t something that organizations do frequently because it’s based on specific resources, distinctive capabilities, and core competencies developed in the functional areas. • Changing would mean modifying or redeveloping

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