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 Dunfermline

Dunfermline is a town located in Fife, Scotland. In 2011, the population recorded was 49,706 and the figures released in 2012 shown Dunfermline’s population as 50,380 which made It largest locality in Fife and tenth in Scotland.

Dunfermline town was recorded first in the 11^th century. The marriage of Malcolm III, King of Scotland and Saint Margaret at the church located in Dunfermline. This town has much historical significance and also provide facilities for leisure. The primary focus of employment is on service sector that has the largest employer being Sky UK. Other major employers in Dunfermline are Amazon, FMC Technologies, Best Western, Lloyds and Nationwide.

History

Dunfermline has rich history and heritage. Dunfermline signified Gaelic. A fort by a meandering rivulet and fort refers to a building called Malcolm Canmore’s that is at the Peninsular mount in Pittencrieff Glen. Dun means either a fort or hill. Fiar means winding or crooked. From this tower, Dunfermline originated as town and marked its existence. The arms of town are supported by two lions with motto ““Esto rupes inaccessa”.

Dunfermline City is one of the hidden jewel of Scotland and among an impressive place. History of Dunfermline goes back to the residence of kings of Scotland and history of Church.

Sport

Dunfermline is home to professional rugby, football as well as cricket teams. Dunfermline Athletic senior football team play their games at East End Park in Scottish Championship. The team has become famous after winning Scottish Cup twice in 1961 and 1968 and gained a reputation. Dunfermline Senior Rugby team play at McKane Park in Caledonia League Division. A cricket club is also based at Carnegie Cricket Ground which is an athletics ground at Pitreavie. A major extension to the centre was completed in November 2011. It includes 25 yards (23m) Edward training pool in new 25 meters 6 land deck level pool movable floor, there is an improved entrance and reception area with new gym and a new cafe.

Education

Dunfermline has 14 primary schools and four secondary schools. Other facilities include a private school and Calaiswood ASN School intended for children with health needs and learning difficulties.

Oldest secondary school in town is Dunfermline High School, established in 1816 and now it is called Queen Anne Street. Since 1994 school serves both western and southern parts of town as well as Kincardine and Rosyth that occupied a site on St Leonard’s Street. In Wellwood towards the north-west area of the town, Queen Anne High School is located. In 1972, Woodmill High School was updated which was originally a junior secondary. The school was developed in Priory Land. In 1969, St Columba’s high school was opened which is one of two Roman Catholic secondary schools in Fife. School server people are living in West Fife. Fife College provided further education and was known as Lauder Technical School in 1899 and Andrew Carnegie provided its funding. In 1910, the textile school was founded and funded by Carnegie. Later it was known as Technical School in 1927. In 1951 school was known as technical college and then it's named turned to Lauder College in late 20^th century. In 2007 it became Carnegie College.