Strategic management
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Any situation, for example an overseas entrepreneurial co. entering the asian market: answering as per these criteria:
a) Porter's 5 force model b) key industry success factors c) sustainable competitive advantage d) competitor retaliation & counter strategies e) one key strategic initiative option new to that industry.
Can use any example - just need a skeleton of how to approach it.
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Discusses a) Porter's 5 force model b) key industry success factors c) sustainable competitive advantage d) competitor retaliation & counter strategies e) one key strategic initiative option new to that industry.
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strategic management skeleton outline
just needing an outline for how to approach this type of question. Any situation, for example an overseas entrepreneurial co. entering the Asian market: answering as per these criteria:
a)porters 5 force model
b) key industry success factors
c) sustainable competitive advantage
d) competitor retailiation & counter strategies
e) one key strategic initive option new to that industry.
can use any example - just need a skeleton of how to approach it.
a) Porter's 5 force model:
Porter's 5 force model provides a framework that models an industry as being influenced by five forces.
These five forces are:
1. Rivalry among competing sellers in an industry
2. Substitute products offered by firms in other industries
3. Potential entry of new competitors
4. Bargaining power of suppliers
5. Bargaining power of buyers
Thus if we take the example of a car manufacturer who wants to enter the Asian market, he can analyze the competitive forces thus:
Threat of New Entrants Low High Barrier to entry
Need a lot of capital
Difficult to establish Brand Loyalty
Competitor retaliation
Bargaining Power of Suppliers Low -Many Suppliers
Rivalry Between Competitors High -Hyper Competition
- Advertising
Bargaining Power of Buyers High -Many different dealerships to choose from
-Consumers are price sensitive
Threat of Substitution Low Other Modes of transportation are less convenient
b) Key industry success factors:
Key success factors (KSFs) spell the difference between profit & loss and between competitive success or failure.
A key success factor can be
? Specific skill or talent
? Competitive capability
? Something a firm must do to satisfy customers
Identifying KSFs should be the top priority for a company. Winning competitive advantage often depends on being distinctively better than rivals at one or more of the KSFs. KSFs consist of three to five major determinants of financial & ...
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