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THOMAS L. WHEELEN J. DAVID HUNGER

CHAPTER 6 Strategy Formulation: Situation Analysis & Business Strategy. THOMAS L. WHEELEN J. DAVID HUNGER. Situational Analysis. Strategy formulation -- Strategic planning or long-range planning Develops mission, objectives, strategies, policies. Situational Analysis.

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THOMAS L. WHEELEN J. DAVID HUNGER

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  1. CHAPTER 6Strategy Formulation: Situation Analysis & Business Strategy THOMAS L. WHEELEN J. DAVID HUNGER

  2. Situational Analysis • Strategy formulation -- • Strategic planning or long-range planning • Develops mission, objectives, strategies, policies

  3. Situational Analysis --process of finding a strategic fit between external opportunities and internal strengths while working around external threats and internal weaknesses

  4. IFAS – Maytag as Example

  5. EFAS – Maytag as Example

  6. SFAS Matrix

  7. Situational Analysis • Niche -- • Need in the marketplace that is currently unsatisfied

  8. Situational Analysis • Corporate Goal -- • Find propitious niche • Strategic window

  9. Situational Analysis • SWOT -- • Internal • Strengths/Weaknesses • External • Opportunities/Threats

  10. TOWS Matrix

  11. Business Strategy Focuses on improving competitive position of company’s products or services within the specific industry or market segment

  12. Porter’s Competitive Strategies • Generic Competitive Strategies -- • Lower Cost strategy • Greater efficiencies than competitors • Differentiation strategy • Unique/superior value, quality, features, service

  13. Porter’s Competitive Strategies • Competitive Advantage -- • Determined by Competitive Scope • Breadth of the target market

  14. Porter’s Competitive Strategies

  15. Porter’s Competitive Strategies • Cost Leadership -- • Low-cost competitive strategy • Broad mass market • Efficient-scale facilities • Cost reductions • Cost minimization

  16. Porter’s Competitive Strategies • Differentiation – • Broad mass market • Unique product/service • Premiums charged • Less price sensitivity

  17. Porter’s Competitive Strategies • Cost Focus – • Low-cost competitive strategy • Focus on market segment • Niche focused • Cost advantage in market segment

  18. Porter’s Competitive Strategies • Differentiation Focus – • Specific group or geographic market focus • Differentiation in target market • Special needs of narrow target market

  19. Porter’s Competitive Strategies • Stuck in the middle – • No competitive advantage • Below-average performance

  20. Competitive Strategies Best Cost Provider – A company has an ability to incorporate attractive or upscale attributes at a lower cost than rivals.

  21. Competitive Tactics • Timing Tactics -- • First mover • Late movers

  22. Competitive Tactics • Market Location Tactics -- • Frontal Assault • Flanking Maneuver • Bypass Attack • Encirclement • Guerrilla Warfare

  23. Competitive Tactics • Defensive Tactics -- • Raise structural barriers • Increase expected retaliation • Lower the inducement for attack

  24. Cooperative Strategies • Collusion • Strategic Alliances • Mutual service consortia • Joint ventures • Licensing arrangements • Value-chain partnerships

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