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 York

York is a historic walled city at the meeting point of the rivers Ouse and Foss in North Yorkshire, England. The municipality is the old county town of Yorkshire to which it gives its name. The city has a rich legacy and has provided the venue for main political events in the UK throughout much of its two millennia of existence. The city offers a number of the wealth of historical attractions, of which York Minster is the most prominent, and diversity in cultural and sporting activities making it a popular tourist destination for millions.

In the 19th century, York became a centre of a confectionery manufacturing centre and the railway network. In recent decades, the York’s economy has risen from being dominated by its confectionery and railway-related industries to one that provides services.

Early history

Archaeological evidence recommends that Mesolithic people settled in the area of York between 8000 and 7000 BC, although it is not recognized whether their settlements were temporary or permanent. By the time of the Roman conquest of Britain, the area was occupied by a tribe known to the Romans as the Brigantes.

Governance

Parliamentary constituencies

From the year 1997 to 2010 the central part of the district was covered by the City of York constituency, while the remaining was divided between the constituencies of Ryedale, Selby, and Vale of York. These constituencies were represented by John Grogan, Hugh Bayley, John Greenway and Anne McIntosh respectively.

Demography

The population of the York urban area was a 137,505 with 66,142 males and 71,363 females in 2001. The urban population was increased to 153,717 at the time of 2011 UK census. Also at the time of the UK census in 2001, the City of York had a total population of 181,094 which includes 93,957 were female, and male were 87,137. Of the 76,920 households in York, married couples living together were 36.0%, one-person households were 31.3%, Cohabiting couples were 8.7%, and 8.0% were lone parents.

Economy

York's economy is depended on the service industry, which in 2000 was responsible for 88.7% of employment in the city. The service industries include education, health, finance, information technology (IT), public sector employment, and tourism that provides 10.7% of employment.