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 Newcastle

Newcastle

Newcastle upon Tyne is also known as Newcastle is a city located in North East of England. Newcastle is 166 km south of Edinburgh, 466 km north of London on River Tyne northern bank. It is a populous city in Northeast and also forms the core of Tyneside conurbation. This core of Tyneside is the eighth most populous urban area in the United Kingdom. Earlier, Newcastle was part of Northumberland County until 1400 when it became country itself. Newcastle is a home to Newcastle University. University is a member of Russel group and Northumbria University.

The city was developed during ancient settlement. Newcastle got its name after a castle built in 1080 by Robert Curthose. It grew as an important wool trade centre in the 14th century and later as major coal mining area. In Newcastle port was developed in the 16th century. Shipyards down the River Tyne was among the world largest shipbuilding as well as ship repairing centres. Newcastle economy includes digital technology, tourism, retail, cultural centres, corporate headquarters and learning. With the help of these city contributes 13 Billion Euro toward GVA of United Kingdom. Icons of Newcastle are Tyne Bridge and Newcastle United Football.

History

Electric trams started in Newcastle upon Tyne streets in 1901. Later these trams were replaced by buses. In 1901 Laing Art Gallery was established. Shipley Art Gallery was opened in 1917. The first cinema in Newcastle was opened in 1909. In 1900 Redneugh Road Bridge was built. In 1906 King Edward VII Railways Bridge was established. In 1925 Hatton Gallery was founded and In 1928 Tyne Bridge, a Suspension bridge was erected. In 20th-century coal exports decreased. In 1956 last coal mine that was located within boundaries of Newcastle was closed. Shipbuilding also decreased. During 1930’s mass unemployment occurred in Newcastle. In 2000 Life Science Centre was opened and In 2001 Millennium Bridge was opened. The present population of Newcastle Upon Tyne is 284,000.

Economy

During the 19th century, Newcastle played a significant role in the industrial revolution. Newcastle was leading centre for shipbuilding, coal mining, engineering, manufacturing and munitions. In the second half of 20th century, heavy industries declined. The city is known for its commitment to environment related issues. A programme was planned for Newcastle to become ‘the first Carbon Neutral town’. These plans slowly slipped, and now it hopes to become carbon neutral by 2050. Newcastle is a commercial and educational focus for North East England. The economy of Newcastle contributes around 13 billion Euros to UK GVA. Central Business District is situated in the Centre of the city. This is bounded by the central station, Haymarket and Quayside areas.