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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Reach us at +44 1344 961530 or info@pentagonit.co.uk for more information.

About Wrexham

Wrexham

Wrexham is the largest town located in the north of Wales and also an educational, commercial, administrative, commercial and retail centre. Wrexham is located between lower Dee valley alongside England border and Weish Mountains. Historically it is the part of Denbighshire, the town became part of Clwyd in 1974, and since 1996 it has been the centre of Wrexham County Borough. According to 2011 census, Wrexham had a population of 61,603 which made it a fourth largest urban area in Wales.

History

Council purchased Parciau in the year 1907, and it later turned into a Public Park. In 1910 first cinema in Wrexham was opened. The population of Wrexham continued to grow drastically. In 1901 population was 14,966 and by 1931 it reached 18,567. The population of Wrexham crossed 40,000 for the first time in the year 1981. First-time electricity was generated in the year 1900 in Wrexham. In 1907 electric trams replaced horse-drawn trams and in 1927 they were replaced by buses.

In 1913-1917 Garden Village was built in Wrexham. In the 1920s and 1930s Wrexham council started working for slum clearance. At that time new council house estate has been constructed at Action Park. Other council estates were built at Maes Y Dre and Spring Lodge in 1930s. In 1965 boundaries of Wrexham was extended. In the 1930s at Queens Park, council estate was built. Another was established at Bryn Offa. Action Park estate was extended in the 1960s.

In 1911 Gresford Collery was opened. An explosion and fire accident at Gresford Collery in 1934 killed 261 miners, and three rescuers also died. In late 20^th century, traditional industries declined in Wrexham. Coal mining almost ended. Gresford Collary closed in 1973. In 1986 Bersham Collery was closed. New industries came into existence in Wrexham including Pharmaceuticals, engineering, chemicals, electronics and food processing. During Second World War, a big ordnance factory was built at Wrexham, and it was converted into industrial estate after 1945. In 1983 Bersham Heritage Centre was opened. In 1985 Maelor Hospital was opened. The swimming pool was constructed in 1970. In 1998 it was refurbished and renamed as Waterworld Leisure Complex. In 1999 two new shopping centres were opened in Wrexham named Henblas Square and Island Green. First Wrexham Science Festival was held in 1998. In the 21^st century, Wrexham is still a developing city. In 2002 Border Retail Park was opened. In 2008 Meadow Shopping Centre was opened. Now Wrexham has a population of 43000.