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 Glasgow

Glasgow

Glasgow is largest city located in Scotland and third largest in the United Kingdom. Earlier, it was a part of Lanark shire which is now one of the 32 council areas of Scotland. Glasgow is located on River Clyde in country’s west central lowlands. People of Glasgow are referred as Glaswegians. Glasgow developed from a small rural settlement on River Clyde. Glasgow had become largest seaport in Britain. In the 18th century, it became a major centre of Scottish Enlightenment. From the 18th century, Glasgow has grown as one of the Great Britain’s central hub of trade including West Indies and North America. Glasgow focused on its heritage to attract tourists from various countries. Tourism is also a source of employment in Glasgow. In 1980, Hunter Ian Art Gallery was opened. In 1983, Collection of Burrel went on display in a museum in Pollock House grounds. In 1985, Scottish Exhibition and Conference centre was built. Clyde Auditorium was also added in 1997.

In the period of 1980’s and 1990’s, traditional manufacturing industries of Glasgow dropped. Service industries grew in Glasgow like retail, tourism and finance. In 1990 Glasgow School Museum of Education was opened. St Mungo's Museum of Religious Life and Art was opened in the year 1993. In 1999, Buchanan Galleries Shopping centre and Clyde Maritime centre was opened. In early 21st century, Glasgow thrived. IMAX cinema was opened in 2000 and Clyde Arc Bridge in 2006. At present, the population of Glasgow is 588,000.

Education

Glasgow has four universities within 1.5km area of city centre. These universities are a major centre of academic and higher research. Name of the Universities are:

University of Glasgow

University of Strathclyde

Glasgow Caledonian University

The University of West of Scotland

Saltire centre located at Glasgow Caledonian University is one of the busiest university libraries in the UK. Three further education colleges are there in the city that includes Royal Conservatoire of Scotland, Glasgow School of Art and Teacher training courses. In 2011 Glasgow had around 53,470 students which is higher than any other town in Scotland. Many live away from home in Dennistoun, Shawlands and West End of City. City council handles 29 secondary schools, 149 primary schools and three special schools. Special schools including Glasgow Gaelic school, Glasgow school of sport and Dance school of Scotland. Glasgow has various independent schools like Hutchesons Grammar School which was founded in 1639. Hutchesons Grammar School is one of the oldest school institutions in Britain. The oldest school in Scotland are Glasgow Academy, Kelvinside Academy, High School of Glasgow, Fernhill School and Craigholme School.

Economy

Glasgow has the largest economy in Scotland and third highest GDP per capita of any city in the UK. The city itself provides 410,000 jobs in over 12000 companies. Between 2000 and 2005 around 153,000 jobs were created and growth rate reached 32%. The annual economic growth rate of Glasgow is 4.4% and is now second to London. Dominant industries like shipbuilding, heavy engineering gradually got replaced. Major manufacturing industries in the city are Clyde Blowers, Linn Products, William Grant and Sons, Aggreko, Weir Group, Whyle and Mackay, Albion Motors, British Polar Engines and Edrington Group. Glasgow was once a most important city in the UK for manufacturing which generated great wealth for the city. Glasgow is now the second most popular foreign tourist destination in Scotland. In the 21st century, some call centres in Glasgow grew substantially. City’s primary manufacturing industries include engineering, construction, shipbuilding, brewing and distilling, printing and publishing, chemicals, textiles and new growth sectors like software development, biotechnology and optoelectronics.