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 Manchester

Manchester (fortified town) is a city in Greater Manchester, England, with a population of 530,300 (in 2015). It lies within the United Kingdom's second most populous urban area, with a population of 2.55 million. Manchester is bordered by the Cheshire Plain to the south, the Pennines to the north and east. The local authority is Manchester City Council.

Manchester began with the civilian settlement associated with the Roman fort of Mamucium or Mancunium in about AD 79. It is aid to have been located on a sandstone bluff near the confluence of the rivers Medlock and Irwell. Historically a part of Lancashire, areas of Cheshire south of the River Mersey were incorporated in the 20th century. Throughout the Middle Ages Manchester remained a manorial township. It began to expand "at an astonishing rate" only around the turn of the 19th century. Manchester's unplanned urbanisation came due to a boom in textile manufacture . This and resulted in Manchester becoming the world's first industrialised city.

Manchester achieved city status in 1853. The Manchester Ship Canal opened in 1894, creating the Port of Manchester and linking the place to the sea, 36 miles (58 km) to the west. Its fortunes declined after the Second World War, but the IRA bombing in 1996 led to extensive investment and regeneration.

In 2014, Manchester was ranked as a beta world city, the highest-ranked British city apart from London.

Economy

The economy grew relatively strongly between 2002 and 2012, where growth was 2.3% above the national average. With a GDP of $88.3bn (2012 est., PPP) the wider urban economy is the third-largest in the United Kingdom. In 2012 it showed the strongest annual growth in business stock (5%) of all the Core Cities.

Landmarks

Manchester's buildings display a variety of architectural styles, ranging from Victorian to contemporary architecture. Manchester is home to a number of skyscraperswith the tallest being the Beetham Tower was completed in 2006. Outside London it has been described as the United Kingdom's only real skyscraper outside the capital. The award-winning Heaton Park is one of the largest municipal parks in Europe. The city has 135 parks, gardens, and open spaces.

Two large squares hold many of Manchester's public monuments. Albert Square and the Picaddily Gardens have monuments to various prominent personalities.

Sport

Manchester is well known for being a city of sport. Two decorated Premier League football clubs bear the city name – Manchester United and Manchester City. Manchester United plays its home games at Old Trafford. Manchester City's home ground is the City of Manchester Stadium . The City of Manchester Stadium was initially built as the main athletics stadium for the 2002 Commonwealth Games. It was subsequently reconfigured into a football stadium before Manchester City's arrival. Manchester has hosted football competitions at all levels at the Fallowfield Stadium. The City of Manchester Stadium has also seen many international games being played. The city has hosted almost all the major football competions.