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 Nottingham

Nottingham

Nottingham city is located in England and 128 miles north of London. As part of Queen Victoria’s Diamond Jubilee celebration, Nottingham gained its city charter. This town has links with legend of Robin Hood and lace making, tobacco and bicycle industries. Nottingham is a famous tourist destination. Visitors spend a significant amount of money. In 2015, the population of this city was 321,550. The metropolitan economy is the seventh largest in United Kingdom with GDP of $50.9 billion. Globalisation and World Cities Research Network ranked it as a Sufficiency-level world city. Nottingham is a major sporting centre and named as ‘Home of England Sport’ in October 2015. Various traditional centres like National Ice Centre, Trent Bridge and Holme Pierrepont National Watersports Centre are located in Nottingham. It is also a home for two professional football teams. The city has professional ice hockey, rugby, cricket teams and international tennis tournament for WTA and ATP tours.

UNESCO named the Nottingham “City of Literature” on December 11, 2015. Including Norwich, Prague, Melbourne and Barcelona. This title demonstrates rich literary heritage of Nottingham. Nottingham has two universities named Nottingham Trent University and the University of Nottingham. The University of Nottingham has almost 70,610 students. Around 43,765 students are at Nottingham Trent University.

History

Electric trams started in Nottingham in the year 1901. Nottingham Council began building houses in 1920’s and 1930’s. Many houses have been constructed in new estates in the north of the city. In 1948 Nottingham University was founded. Nottingham developed rapidly in the 20th century. In late 20th century, main industries of Nottingham was tobacco, bicycles, textiles, printing and pharmaceuticals. Today the population of Nottingham is 305,000.

Economy

Nottingham city council announced that s part of the economic strategy of the city. Target sectors include life sciences, financial, business services, low carbon technologies, retail and leisure services.

Nottingham is a home to various companies headquarters. Companies include Pedigree, American clothing VF cooperation, Chinese made automobiles, Chinook Sciences and much more. Nottingham is also the home to Nottingham Building Society that was established in 1849. Other companies include Driving Standards Agency, BBC East Midlands, Government office for East Midlands and HM Revenue and Customs.

In 2005, Nottingham was made one of six science cities of UK. Now Cycle Manufacturing is a major industry in Nottingham. It is also a host to UK’s first and only local authority-owned. In 2015, Nottingham was ranked in top 10 UK cities for job growth. Various new companies started in Nottingham in 2014/2015 than any other city of UK.