Pentagon Training | Competitive Strategy Fundamentals

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Introduction
Course Details
Course Content
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A Quick Glance

Decision making is the strongest asset of an organisation. The bad decisions will take the company towards failure. There is a need of skills that can sure the better decision-making. Competitive strategy skills are the skills that help in making strategic decisions. If you wish to make better decisions, then you should attend this course.

Successful business environments inspire our Competitive Strategy Fundamentals course. You can start by gaining the following skills that the successful business environment has:

It performs industry analysis: Business analysis is the base of any system to direct them. You should gain skills of how to analyse the market.
It interacts with outside world very well: The successful interaction is the very essential. You should acquire skills to interact with the outside world of an organisation successfully.

Who should take this course

This course is for everyone.

Prerequisites

This course has no prerequisites.

What Will You Learn

This course is proposed to acquaint you:

With the knowledge of the behaviour of organisations in different market situations
To build up strategies and maintain customer base
To know about the design of an effective organisation who can grow and compete in different

Course Overview

Competitive Strategy is well-defined as the long term plan of a specific company in demand to advance competitive advantage over its contestants in the industry. It is intended for creating a protective position in an industry and making a superior ROI (Return on Investment). The Competitive Strategy Fundamentals course is designed to provide the knowledge of market structure, industry analysis, asset mobility and oligopoly. Our instructors are well qualified and expert ones. After completing this course, you will be able to make strategic decisions in your organisation.

Course Content

An Overview of Customer Strategy

An Introduction to Customer Strategy
Significance of Customer Loyalty
Various kinds of Switching Costs
Customer Value and Switching
Describing Old Dealers and Customers
How to get new Suppliers?
Maintaining your Customer Base Asset Mobility
Oligopoly
Cournot and Bertrand
Strategic Complements and Substitutes lecture
Capacity Competition
Competition and Financial Condition

How to keep business clean?

An Introduction
Explanations for Competition Policy
Knowledge of Instruments used
Define Cartel Agreements
What are the factors Favouring Cartels?
Describing Markets and Measuring Market Power
What are the Forms of Market Forclosure?

How to increase returns?

An Introduction
Network Goods
An Overview of Network Effects I: Direct Network Effects
An Introduction to Network Effects II: Indirect Network Effects
Summary of Market Structure in Network Industries
Frugality of Scale
Diseconomies of Scale & Scope

Strategies in Network Markets

An Introduction
Achieving Critical Mass
Raising Attention and Downsizing Perceived Risks
Plans in Standardisation
Expressive the Target Market
Planned Pricing

How to get growth with partners?

An Introduction
What are Trends and Differences?
Goals for Partners and Buyers
Pre-Merger Deliberations
Merger Control
Post-Merger Mixing
Position and Differentiation
Complementarities in policies within the firm

Competitive Strategy

Competitive strategy is well-defined approach as long term plan of some particular company in the market to gain a benefit over its competitors in the industry. This type of strategies plays a major role when the industry is competitive, and consumers get almost identical products. Take an example of Mobile Phone Market.

Types of competitive strategies

Cost Leadership

In this goal of the firm is to achieve large-scale production by lowering producer cost in the industry, this helps them to attain stable economy. Some factors to achieve cost leadership are High capacity utilisation, good bargaining power and high technology implementation.

Differentiation leadership

In this strategy, firms maintain their unique features of products in the market to create a different image. With this uniqueness, firms target to achieve leadership in the market. Firms charge a high price for the products. Best quality, brand, major distribution channels and consistent promotional support are major attributes of such products.

Cost focus

In this strategy, firms focus on particular market segments and under those segments it keeps its products low priced. This strategy helps firms to satisfy their customers and gain popularity for e.g., Sonata Watches.

Differentiation focus

In this strategy, firms focus on differentiating itself from other competitors in some specific segments only. This type of differentiation is done to meet demands of the customers who restrict from purchasing products of competitors due to some small features missing. It is a clear niche marketing strategy, for example, Titan Watches. Follow this strategy to sustain even in tough times.

Examples are given below:

Cost Leadership- Micromax smartphones and mobile phones provide good quality at an affordable price that contains all features which a premium phone like Samsung or Apple offers.

Differentiation Leadership- BMW provides cars that are different from other cars of various brands. Cars of BMW are technologically advanced, better features and got personalised services.

Cost Focus- Sonata Brand Watches focus on giving watches at low cost compared to other competitors like Rolex, Omega, Titan, etc.

These three generic strategies Cost, Differentiation and focus bring various advantages to an organisation. Regarding relative cost and prices, competitive advantage can be defined. It links directly to the profit and presents a new perspective on how to generate profits. The framework of Porter’s for predicting the behaviour of competitor has transformed the way in which companies look at their competitors.

Many managers in both small and large companies throughout the world make use of Porter’s ideas and apply them to assess industries, understand the behaviour of competitors and choose competitive positions.

Competitive Strategy Fundamentals Enquiry

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About Coventry

Coventry is a metropolitan area in the West Midlands, England. Historically part of Warwickshire, Coventry is the 9th largest city in England and the 12th largest in the United Kingdom. It is the second largest city in the West Midlands region, after Birmingham, with a populace of 345,385 in 2015. Coventry is 95 much north-west of central London, 19 miles east-south-east of Birmingham, 24 miles south-west of Leicester and 11 miles north of Warwick. Coventry Cathedral was constructed after the annihilation of the 14th-century cathedral church of Saint Michael by the German Luftwaffe in the Coventry Blitz of 14 November 1940. Coventry motor companies have donated meaningfully to the British motor industry. The city has two universities, Coventry University in the City Centre and the University of Warwick on the southern outskirts.

Areas of Interest:

Cathedral:

St. Michael's Church is Coventry's best-known landmark and visitor place. The 14th-century church was hugely demolished by German bombing during the Second World War, part only the outer walls and spire. At 300 feet above, the spire of St. Michael's is appealed to be the third tallest church spire in England, after Salisbury and Norwich. Due to the architectural design, it lived the destruction of the rest of the cathedral. The new Coventry Cathedral was opened in 1962 next to the ruins of the old. It was reproduced by Sir Basil Spence. The cathedral covers the tapestry Christ in Glory by Graham Sutherland.

Cultural Institution:

The Herbert Art Gallery and Museum is one of the largest cultural organisations in Coventry. Another visitor attraction in the City Centre is the Coventry Transport Museum, which has the main group of British-made road vehicles in the world. The museum established a refurbishment in 2004 which comprised the creation of a new arrival as part of the city's Phoenix Initiative project. It was a finalist for the 2005 Gulbenkian Prize. About four miles from the City Centre and just outside Coventry in Baginton is the Lunt Fort, a reconstructed Roman fort on its original site. The Midland Air Museum is located just within the border of Coventry on land head-to-head to Coventry Airport and near Baginton.

Red Major Improvements endure renewing the City Centre. The Phoenix Initiative, which was deliberated by MJP Architects, stretched the final shortlist for the 2004 RIBA Stirling Prize and has now gained a total of 16 separate awards. It was available in the book ‘Phoenix: Architecture/Art/Regeneration' in 2004. Further major developments are potentially afoot, chiefly the Swanswell Project, which is envisioned to deepen Swanswell Pool and link it to Coventry Canal Basin, joined with the creation of an urban marina and a wide Parisian-style avenue. A possible second phase of the Phoenix Inventiveness is also in the offing, though both of these plans are still on the drawing-board. On 16 December 2007, IKEA's first city-centre store in the UK was opened, in Coventry.