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What is Strategy?

What is Strategy?. Bus 290 Strategic Thinking. What is Strategy? Viewpoints. Michael Porter Strategy as product positioning/pricing: cost leadership & focused differentiation Strategy as industry structure & firm positioning 5 Forces Country Competitiveness Gary Hamel

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What is Strategy?

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  1. What is Strategy? Bus 290 Strategic Thinking

  2. What is Strategy? Viewpoints • Michael Porter • Strategy as product positioning/pricing: cost leadership & focused differentiation • Strategy as industry structure & firm positioning • 5 Forces • Country Competitiveness • Gary Hamel • Strategy as Revolution or Radical Organizational Processes • Strategy as Core Competencies (w/ C.K. Prahalad)

  3. What is Strategy? Viewpoints • Richard Rumelt • Uncertain imitability • Uncertainty regarding resource bundle to be imitated • Limits firm entry & performance in industry • Firm Differences more important than Industry Differences (in explaining above average returns) • Firms are all different in some ways • Firms cannot figure out exactly what other firms do • Firms and Markets Do Different Things Well • Firm distinctiveness stems from resources that • Create something of value to customers • Not off-the-shelf or hard to imitate • Tacit knowledge, hard to transfer skills, a complex social system

  4. Strategy Viewpoints • Julian Gresser/Mark Fruin • Using Everything w/ Everything • Firm as engine of Managerial Discretion • To lower transaction costs • To create value from resource bundles • To manage firm as Networked Knowledge System

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