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 Milton Keynes

Milton Keynes

Milton Keynes also abbreviated as MK is a large town located in Buckinghamshire, England. It was designed as a new town on 23 January 1967 and also an administrative centre of Borough of Milton Keynes. It is located 45 miles that is 72 km away from north-west of London.

Various another town like Bletchley, Wolverton and Stony Stratford exist here along with other 15 villages and farmland. Milton Keynes took its name from existing “Village of Milton Keynes “that is few miles away from the planned centre.

History of Milton Keynes

Milton Keynes has a rich history with proof of human settlement that was found before starting the construction of this city in 1960’s. When UK government decided to establish Milton Keynes, most of the area was farmland, and undeveloped villages and the earlier history was incredibly rich. Until the 10^th century, there was no evidence of occupation in villages. During middle age, 18 villages were present that still form the heart of Milton Keynes districts. With the arrival of London and Birmingham Railway and Grand Junction canal in late 18^th and 19^th century, the area went through many changes and the new town of Wolverton, and New Bradwell emerged.

The greatest change in the history of Milton Keynes was when it was chosen to solve housing problems in London. Milton Keynes was planned as biggest towns and have an area of 89 square kilometres that became home to around 250,000 people. In the beginning, no building was allowed to be tall than the tallest tree, and later Milton Keynes Partnership changed it. Tallest building in Milton Keynes is 14 floors high. Its population will double by the year 2026.

Milton Keynes offers a broad range of opportunities to people to learn new things and get a better education. Bletchley Park code breakers brought innovation to the city in second world war. This team cracked secret codes of Germans. Milton Keynes is a destination that is always passionate about developing minds. It contains some of the best schools and colleges. Milton Keynes College offers a wide range of courses in different domains. It is one of the fastest growing college in the United Kingdom.

Open University offers contemporary learning where degree level education is provided to everyone. The headquarters of the university is located at Walton Hall in Milton Keynes. There is also University Centre Milton Keynes ( UCMK) which is a hub for higher education with new facilities and exciting courses in the middle of the city. This town also contains a solar-powered house that plays a significant role in the development of electric transport. Various courses, classes and opportunities are offered by Milton Keynes Theatre Creative Learning department to young people and adults to explore theatres including makeup, drama, acting and much more.

Sport

Milton Keynes has various professional teams in football, in ice hockey and in Formula one. It is also home to Xscape indoor ski slope, Formula Fast Indoor Karting Centre, Airkix Indoor Sky Diving facility and National Badminton Centre.

Economy

At Borough level, data of Milton Keynes economy, demography and politics is collected. Milton Keynes is one of the most successful economies in Southeast along with gross value added per capita index which was 47% higher than the national average. According to 2015 data, average wages place it in top five nationally.

Just 0.6% of businesses employ people more than 250 which include Open University, Volkswagen Group, Mercedes-Benz and Network Rail. Remaining enterprises around 81.5% employ near about 10 people. Milton Keynes professional, technical and scientific sector contributes large employment. Milton Keynes has a high number of business start-ups in England and start-up levels remained high even during the period of recession 2009/2010. Most of the population is younger. 22.6% of Borough population is under 16, 12.1% are aged 65+. According to 2011 census report, Milton Keynes Urban area comprises of 8.7% South Asian, 78.4% white, 3.5% Mixed Race, 7-5% Black, 1.2% Chinese, 6.7% other ethnic group and Asian.