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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Reach us at +44 1344 961530 or info@pentagonit.co.uk for more information.

About Leicester

Leicester is a city and a local authority area in the East Midlands of England. It is also a county town of Leicestershire. The city of Leicester was established long time ago in the 2^nd or 1^st century BC. Its earliest name has been found to be recorded as Ledecestre. Romans arrived in the Leicester area around AD 47. In 2013 a Roman Cemetry was found just outside the city walls. Geoffrey of Monmouth composed his History of the Kings of Britain around the year 1136, naming a King Leir as an eponymous founder figure. According to Geoffrey's narrative, Cordelia had buried her father beneath the river in a chamber dedicated to Janus and that his feast day was an annual celebration.

Modern day facts

Lady Jane Grey, who reigned as England's uncrowned Queen Regnant in June 1553 and was also great granddaughter to Henry VII, was born near Leicester around 1536.

Economy

Leicester has the largest economy in the East Midlands. he city has historically had a strong association with the production of textiles, clothing and shoes. Moreover, in recent years the higher transport prices and longer lead-times associated with globalised production in Asia mean that some textile manufacturers are locating to the city.

Engineering is an important part of the economy of Leicester. Local commitment to nurturing British engineers includes apprenticeship schemes with local companies and academic-industrial connections with the engineering departments at various universities.

Landmarks

Historic Buildings: Town Hall, Guildhall, Belgrave Hall, Jewry Wall, Secular Hall, Abbey, Castle, St Mary de Castro, The City Rooms, Newark Magazine Gateway.

Transport

East Midlands Airport (EMA), at Castle Donington, is 20 miles (32 km) north-northwest of the City. It can be reached by car or bus routes. The airport is also a significant national hub for the mail/freight networks of the major distributors.

Alternatively, Birmingham Airport (BHX), which is located 38 miles (61 km) west-southwest of Central Leicester, can be reached in an hour or little less. The London Luton Airport (LTN), about 74 miles (119 km) to the south-east, takes around an hour and a half to reach. The Heathrow Airport is the farthest and takes more than 2 hours to reach Leicester Airport (LRC) is a small airport located some 6 miles (10 km) east of Leicester City Centre and does not currently operate scheduled services.