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 Sheffield

Sheffield is a city area in South Yorkshire, England. Actually part of the West Riding of Yorkshire, its name originates from the River Sheaf, which innings through the city. With some of its southern suburbs occupied from Derbyshire, the city has grown up from its main manufacturing roots to include a broader economic base.

In the 19th century, Sheffield increased a global reputation for steel manufacture. Known as the Steel City, many novelties were industrialised nearby, counting container and stainless steel, powering an almost tenfold increase in the population in the Industrial Rebellion. Sheffield conventional its public charter in 1843, flattering the City of Sheffield in 1893. International rivalry in iron and steel produced a weakening in these businesses in the 1970s and 1980s, according to with the failure of coal withdrawal in the area.

Government:

Sheffield is ruled at the local level by Sheffield City Council. It contains 84 councillors chosen to signify 28 words: three councillors per district. Following the 2016 local votes, the delivery of assembly places is Labor. The city also has a Lord Mayor though now just a ritual position, in the past, the office approved substantial authority, with decision-making powers over the funds and businesses of the city assembly.

Much of its past the assembly was skilful by the Labor Party, and was noted for its leftist understandings; during the 1980s, when David Blunkett ran Sheffield City Council, the area augmented the epithet the Socialist Republic of South Yorkshire. Though, the Liberal Democrats measured the Council between 1999 and 2001 and took control again from 2008 to 2011.

Climate:

Like the break of the United Kingdom, the weather in Sheffield is usually temperate. The Pennies to the west of the city can make a cool, depressed and wet atmosphere, but they also deliver shelter from the usual westerly breezes, forming rain shadow across the area.Between 1971 and 2000 Sheffield be about 824.7 millimetres (32.47 in) of rain per year. December was the rainiest month with 91.9 millimetres (3.62 in) and July the dehydrated with 51.0 millimetres (2.01 in). July was also the hottest month, with an average maximum temperature of 20.8 °C (69.4 °F). The regular least temperature in January and February was 1.6 °C (34.9 °F), however the lowermost heats recorded in these months can be between −10 and −15 °C (14 and 5 °F), though since 1960, the temperature has never fallen below −9.2 °C (15.4 °F), signifying that urbanization around the Weston Park site during the second half of the 20th century may stop temperatures below −10 °C (14 °F) happening.