Nghiệp vụ ngân hàng - Chapter 4, 5: Strategic positioning

Nội dung text: Nghiệp vụ ngân hàng - Chapter 4, 5: Strategic positioning

1. BUSINESS STRATEGY Chapter 4+5- Strategic Positioning Lecturer: PHD. PHẠM QUỐC KHÁNH Banking Academy (Vietnam) khanhhvnh@gmail. com Mobile: 0913210000
2. Chapter 4+5- Strategic Positioning Learning outcomes Strategic management process: External After doing internal and external environment analysis, an Audit enterprises have to develop strategies to exploit opportunities and strengg,ths, mitigate threats and weaknesses!!! Implement Generate, Implement Strategies: Measure & Vision Long-Term Evaluate, Strategies: Marketing, Evaluate & Objectives Select Mgmt Issues Fin/Acct, Performance Mission Strategies R&D, CIS Internal Audit
3. Chapter 4+5- Strategic Positioning Learning outcomes ƒ After finishing these chapters, you will be able to: ƒ Approaches to strategy formulation. ƒ SWOT analysis and gap analysis. ƒ Competitor analysis and the choice of competitive strategy. ƒ Using value chain in competitive strategy. ƒ Using the Ansoff matrix of product- market strategies. ƒ Applying method of growth. ƒ Analysis global factor’s influences to strategy formulation. ƒ Applying benchmarking.
4. Chapter 4+5- Strategic Positioning Contents Corporate Appraisal Gap Analysis Monitoring Competitors Competitive Strategies Value Chain in Competitive Strategy Scenario Planning Direction of growth Method of growth Global Factors Benchmarking
5. Chapter 4+5- Strategic Positioning Corporate Appraisal STRENGTHS OPPORTUNITIES What are your business advantages? Any beneficial trends? Niches that competitors are missing? What are your core competencies? Where are you making the most New technologies? money? New needs of customers? What are you doing well? THREATS WEAKNESSES Obstacles to overcome? What areas are you avoiding? Aggressive competitors? Where do you lack resources? Successful competitors? Negative economic conditions? What are you doing poorly? Government regulation? Where are you losing money? Changing business climate? What needs improvement? Vulnerabilities?
6. Chapter 4+5- Strategic Positioning Corporate Appraisal Strengths Weaknesses Use a firm’s Opportunities internal strengths to take advantage Threats SO of external Strategies opportunities SWOT
7. Chapter 4+5- Strategic Positioning Corporate Appraisal Strengths Weaknesses Improving internal Opportunities weaknesses by taking advantage Threats WO of external Strategies opportunities SWOT
8. Chapter 4+5- Strategic Positioning Corporate Appraisal Strengths – S Weaknesses – W SWOT matrix List Strengths List Weaknesses Opportunities – OSOStrategies WO Strategies Use strengths to take Overcoming List Opportunities advantage of weaknesses by taking opportunities advantage of opportunities Threats – TSTStrategies WT Strategies Use strengths to Minimize weaknesses List Threats avoid threats and avoid threats
9. Chapter 4+5- Strategic Positioning Gap Analysis ƒ Gap analysis compares two things: Target for achievement over GAP F0 Forecast planning period Forecast can never be completely accurate!!!
10. Chapter 4+5- Strategic Positioning Gap Analysis ƒ [?] If your company set the target for next 5 year with sales at 100,000US$ per quarter, however, if you have no change for your marketing , your sales will only be 90,000US$ per quarter. ƒ How can you solve this gap?
11. Chapter 4+5- Strategic Positioning Monitoring Competitors COMPETITOR IDENTIFICATION Customer-Based Approaches – Customer choices – What brand would you buy if your favorite was unavailable? – Application associations – What applications? What brands for each application? – What product substitutes? Strategic Groups – Pursue similar comppgetitive strategies – Have similar characteristics – Have similar assets and competencies
12. Chapter 4+5- Strategic Positioning Monitoring Competitors Assumption Current Future Capabilities s Strategy Objectives •What •Does our •How do •How do assumptio current our goals our ns do our strategy compare capabilities competitor support to our compare s hold changes in competitor to our about the the s’ goals? competitor future of competitiv s? industry e and environme themselve nt? s?
13. Chapter 4+5- Strategic Positioning Monitoring Competitors Competitor actions – Image and Positioning – Objectives and Commitment – Current and Past Strategies – Organization and Culture – Cost Structure – Exit Barriers – Strengths and Weaknesses – Size, Growth & Profitability
14. Chapter 4+5- Strategic Positioning Monitoring Competitors Competitors analysis- Response 1. What will our competitors do in the future? 2. Where do we have a competitive advantage? 3. How will this change our relationship with our competition?
15. Chapter 4+5- Strategic Positioning Competitive Strategies Cost Leadership Differentiation Focus Product Low High Low to high Differentiation (principally (principally by (price or by price) uniqueness) uniqueness) Market Low High Low Segmentation (mass market) (many market (one or a few segments) segments) Distinctive Manufacturing Research and Any kind of Compete n cy aadnd m ateasaterials deve lop me nt, sal es ddstistin ctive management and marketing competency
16. Chapter 4+5- Strategic Positioning Competitive Strategies
17. Chapter 4+5- Strategic Positioning Competitive Strategies • Cost-leadership strategy success is affected by: – Competitors producing at equal or lower costs. – The bargggaining stren gth of su ppliers. – Powerful buyers demanding lower prices. – Substitute ppgroducts moving into the market. – New entrants overcoming entry barriers.
18. Chapter 4+5- Strategic Positioning Competitive Strategies • Differentiation strategy success is achieved through: – An emphasis on product or service quality. – Innovation in ppgroviding new features for which customers will pay a premium price. – Responsiveness to customers after the sale. – Appealing to the psychological desires of customers.
19. Chapter 4+5- Strategic Positioning Competitive Strategies • Differentiation strategy success is affected by: – Competitors imitating features and services. – Increases in supplier costs exceedin g differentiator’s price premium. – Buyers becoming less brand loyal. – Substitute products adding similar features. – New entrants overcoming entry barriers related to differentiator’s competitive advantage.
20. Chapter 4+5- Strategic Positioning Competitive Strategies • Focus strategy success is affected by: – Competitor entry into focuser’s market segment. – Suppliers ca pable of increasin g costs affectin g onl y the focuser. – Buyers defecting from market segment. – Substitute products attracting customers away from focuser’s segment. – New entrants overcoming entry barriers that are the source of the focuser’s competitive advantage.
21. Chapter 4+5- Strategic Positioning Competitive Strategies • [?] Think about your company, which strategy should be applied? Explain the reasons.
22. Chapter 4+5- Strategic Positioning Value Chain in Competitive Strategy Firm Infrastructure Support{ Human Resource Management Activities Technological Development Procurement Sales istics nd ogistics ons gg aa LL How to apply Lo value chain Operati Service Outbound for two star Inbound Marketing hotel and five stars hotel? { PiPrimary Activities
23. Chapter 4+5- Strategic Positioning Scenario Planning • Scenario Analysis is a tool that helps you develop resilient/ flexible strategies for your company. It is a means to explore multiple outcomes to complex or rapidly changing competitive situations, determine the implications of each pp,otential outcome, and set effective future strateg ies. What the Macro Industry future Scenarios Scenarios might turn out to be!
24. Chapter 4+5- Strategic Positioning Scenario Planning 1‐ Decide on drivers for change 2‐ BiBring ddirivers together into a viable framework [?] Forecast at least two 3‐ Produce mini scenarios (7‐9) scenarios for yorour company 4‐ Group mini scenarios (2‐3) industry. 5‐ Write the scenarios 6‐ Indentify issues arising
25. Chapter 4+5- Strategic Positioning Product- market strategy- Direction of Growth Existing PRODUCTS New Existing INCREASING RISK MARKET PRODUCT PENETRATION DEVELOPMENT I N CREAS Sell more in existing Sell new products in Markets existing markets ING RIS MARKETS MARKET EXTENSION DIVERSIFICATION K Achieve higher Sell new products in new sales/market share maaetsrkets New of existing products in new markets
26. Chapter 4+5- Strategic Positioning Product- market strategy- Methods of Growth Build up Acquire new existing business business Joint Merger venture
27. Chapter 4+5- Strategic Positioning Global factors • Drivers for globalization: – Financial factors – Country/ continent alliances – Legal factors – Stock markets – Protectionist measures: • Quotas • Import bans • RtitiRestrictions •Tariffs • Technical standards
28. Chapter 4+5- Strategic Positioning Global factors • Globalization impacts: – Global competition and customers – Science and technology developments – M&A, alliances – New customer value and behaviour – New scrutiny/ inspection by government – Deregulation – Business practices (outsourcing) – The social and business relationship
29. Chapter 4+5- Strategic Positioning Global factors • Effects from Globalization: – Incoming competition – Abroad competition – Abroad Investment – Finance from oversea [?] How do you take advantages from globalization?
30. Chapter 4+5- Strategic Positioning Benchmarking Data Objectives Comparators Benchmarking
31. Chapter 4+5- Strategic Positioning Benchmarking Internal Bench‐ Strategic Functional marking Competi‐ tive
32. Chapter 4+5- Strategic Positioning Benchmarking Key Set objectives performance and areas measures Select Monitor department/ improvement branch/ Benefits from organisation benchmarking? Measure own Improve and other’s performance Compare performance
33. Chapter 4+5- Strategic Positioning Corporate Appraisal Gap Analysis Monitoring Competitors Competitive Strategies Value Chain in Competitive Strategy Scenarioi Pllianning Direction of Growth Method of Growth Global Factors Benchmarking