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 Wokingham

Wokingham

Wokingham is an ancient market town located in Berkshire, England that is 39 miles west of London. It is 11 km south-east of Reading, 13 km north of Camberley and 6.4 km west of Bracknell. According to 2011 census, Wokingham had a population of around 30,690.

Wokingham was called Borough before 1974 reorganisation of local government. Later Wokingham was merged with Wokingham rural district to establish a new Wokingham District. Borough granted its status in 2007.

Governance

Nothern part of Wokingham, centred on Ashridge was separated part of Wiltshire. The area was extended well into town centre before being transferred to Berkshire in 1844. In 1894 ancient parish was divided into rural and urban civil parishes. In 1974 Wokingham was merged with Wokingham Rural District under Local Government Act 1972 to create a non-metropolitan district of Wokingham. Since 1998 Wokingham is a unitary authority area. Wokingham consists of 54 elected councillors. Council is headed by one councillor known as the chairman of the council. Council elections are held in three out of every four years with Conservative party having a majority since 2002 election. Offices of Borough Council are based at Shute End. In Wokingham, successor parish continued to exist. Wokingham Town Council administers Wokingham. This council is elected every four years, and consists of 25 councillors that represent Wescott, Norreys, Evendons and Emmbrook and these are four wards of the town. Every year one is elected as Mayor. In 1860 present town hall was erected in Guildhall site. The constituency of Wokingham MP is Conservative John Redwood who has represented Wokingham since 1987.

Education

Wokingham has four secondary schools. Elmbrook School is a co-education school that is a Maths and Computing College. St Crispin's School is also a co-educational school which is a Computing and Maths College. In 1931, The Holl School was founded in the Dower House of Beches’s Manor, and it is a girls' school. The Holl School is also a Science and Language College. Forest School is a boys school and an enterprise as well as a business college. There is Private School also in Wokingham. In 1945 Holme Grange School for Girls was founded and for boys aged 3-`16 years. At Luckley, Luckley House School was founded in 1918 for girls aged 11-18. In 1937 Ludgrove School shifted to Wixenford house. White House Preparatory School was closed. The oldest school in Wokingham Borough, Reading Blue Coal School was founded in 1666. Blue Coat is situated in Sonning village since 1946 and has catchment areas of South Oxfordshire and most of Berkshire.