SM Winter 2012

Final Exam 1.Repurposing 2.Novascotian Crystal

Final Exam 1.Repurposing  think up new use for existing good or service  develop plan enable firm to thrive  questions to consider: Start-up & growth stages? Market analysis? Strategic choices? Competitors’ reactions? Durable competitive advantage?

Strategic Behaviours related to corporate “culture”  not “ How do we dress? ” “ Are we a fun place to work? ”  but What comes to the top of the “ to do ” list? What gets dropped? Actions speak louder than words.

Strategic Behaviours innovation behaviours  commodity  differentiation notice external change recognize opportunity say no to projects meet quality and delivery promises ability to understand failures

Strategic Behaviours cost-focused behaviours  commodity  differentiation simplify process increase productivity lay off staff cut prices

Strategic Behaviours “ arthritis ” behaviours  product  profit keep making the same stuff keep doing the same thing argue with the market find yourself unwilling to ask serious questions “ Let ’ s put off change until …  dad retires. ”  we see if this is just a blip. ”

Strategic Behaviours flexibility behaviours  product  profit track what makes money  drop what doesn ’ t shift from internal to external can change  How are rewards handed out?  How is success measured?

Strategic Planning Approaches  “Generic” 1.value proposition  lowest-cost  differentiation »features »execution 2.competitor triangle 3.market options  concentration  penetration  expansion 4.company scope  core business  vertical integration  horizontal integration  diversification  Product/Market  SWOT TOWS matrix  Goals  BCG matrix  Environmental scanning  Five Forces  Profit Pools  Benchmarking  Diamond-E  Scenario Planning  Product Cycle  Game theory  Strategic Group Map  Value Web  Management Preferences  Company Stages

1.Value Proposition Options PRICEFEATURESEXECUTION DirectTangibleAvailability PriceQualityTiming Discount structurePerformanceConvenience RebatesProprietary propertiesDelivery Credit ratesPre- & post- sales serviceReliability IndirectOptions / choiceIntensity Financial assistanceGuaranteesSales hustle Capital vs. operatingIntangible/ImageService hustle Life cycle costDesignFriendliness Cost absorptionFashions Prestige “Personality” “Why will people buy what we’re selling?”

Strategy  Ethics phronimos  “wise”  “shrewd”  “prudent”  Jesus  Aristotle The Wise & Foolish Virgins The Wise & Foolish Builder The Wise Servant The Shrewd Servant I am sending you out as sheep among wolves, so be shrewd as snakes and innocent as doves. Joseph

Strategy  Ethics phronimos  be alert  see what’s not obvious  plan ahead  find solutions

Strategy  Ethics phronimos service life

So exactly what is strategy?  How can profitable growth be achieved?  How can the chances of survival be enhanced?  How can competition be withstood?  How can we thrive?