Chapter 5 : 5 Generic Competitive Strategies

ahaa...salam to all of you who enter into this blog..ehehhehhehe :)

now we will learn the 5 generic strategies that some companies used for achieving the competitive 

advantage..some of this strategies are work better in certain kind of industry and competitive conditions than others.

aha...there something that i want to shared..which is..

on that day..our lecturer has given task to us to answer the question by using hand-phone..when we reply..the answer will pop-out into the computer screen (everyone excited when their sms has shown in front of the class)..ehehhe..something that interesting to attract student but it a bit costly because we need to use credit to reply the answer.. and the system use different number to reply..not stick to one number. (but i have gain new knowledge from this activity :) )

nowadays we are on the generation that everything at the fingertip (i don't know.. is it true the phase that i use?)ehehhehehhhehhe have fun in your world of technology :)

thank's for reading.. 

xoxoxoxox

cik yana boimen

EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT

Salam :)

sory for being late update about my study review :)

Now lets's read..ahahhhahahhahha :)

For this chapter 3 it have correlates with chapter 4.. This chapter learned about the strategically about firm's external environment, and in chapter 4 will learn about the internal environment.

There is a core concept that call macro-environment.

The major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces.

Specific examples of macro environment influences include competitors changes in interest rates, changes in cultural tastes, disastrous weather, or government regulations.

another concept that use is PESTEL concept.

PESTEL analysis are focuses on the six principle components of strategic significance that related to macro-environment.

1. Political factors

2. Economics condition (local to worldwide)

3. Sociocultural forces

4. Technological factors

5. Environmental factors (the natural environment)

6. Legal/regulatory conditions

There 5 competitive forces

This is the factors that influence the competitive position of a company in an industry or market.

: competition from rival sellers

: competition from potential new entrants

: competition from producers of substitute products

: supplier bargaining power

: customer bargaining power

there are a few steps how to using the 5 forces model of competition

1: Identify the different party involved, and the specific factor that brings about competitive pressures

2: Evaluate how strong the pressures (strong, moderate, or weak)

3: Determine whether the strength is conducive to earn profit in the industry.

Last but not least is about Key success factors (KSFs)

KSFs are the strategy elements, product and service attributes, operational approaches resources and competitive capabilities that are essential to surviving and thriving in the industry.

A company's strategy is increasingly effective the more you provide from the competitive pressures and have strong position of firm in industry.

Introduction + week review :)

Salam,

hello and good morning/evening/night (whenever you read this friend) :) I'm happy and thankful to Allah for give me chance to breath and live in a good condition. For your information, I'm glad that now i have two blog already :)

follow me if you free : http://katakmontel.blogspot.com 

For this 2nd blog, I just sharing about what I get, learn and the atmosphere in my strategic management class. Before I go too far, telling you something nonsense, better I start with my diary :) I'm lovin' it !!

First,

I will tell you about my superduper active lecturer. you know why, over the past four semester, she's the one of the lecturer which use cordless. Her name is miss Ummi Salwa. She move independently up and down and make me cannot sit quietly (just because i'm afraid if i'm the one who questioned..ahahahahha :) weird !) but it was something good for me actually :)

Now, I tell you what i learn, after having a nice atmosphere in my first lecture last two weeks :) 

Miss Ummi have given us a task, which is each of group must build a tallest building in 30 minutes (if i'm not mistaken). After 30 minutes, each group send the prototype of the building in front of the hall lecture (roaring because most of the building collapse one by one..ahaaa.. :) ) . From this activity, what I learn in this activity is, even the company/organizations are in the top ranking, if the base (workers/subordinate organization) not in a line, it will drop, like a piece of paper when the wind blow.

Interesting and enjoyable :) miss Ummi has given good first impression to me :) i'm glad to having her as my lecturer for this subject.

For second week of the lecture, 

we have learned about the nature of strategic management, this first chapter, will know about the definition, the stages of strategic which have three stages; strategy formulation (start with develop vision and mission, determine SWOT, and etc.), strategy implementation (focuses on deciding business, allocate resources, what business to abandon and etc.), and last is strategy evaluation (in this stage, the company/organization will evaluate the performance). For second chapter, learned about the vision and mission. This two word are too important in each company/organization to know where the company will go, weather go up or down. (am I right?). For those who always confused to distinguish the word vision and mission, I'll tell you how to memorized the meaning of that word :)

vision  : what we want to be?

mission   : how can you implement to get your target/achieve your goal?

(hope it will help you)

ahaa...get it? I'm not telling you too detail, but I give you a little overview about this subject for the first. After this ( I mean when I update later) I will telling you more, InsyaAllah :) more picture to make the readers not bored... ( I more excited to tell you more about this subject :) )

thanx for reading my dearest darling intan payung :)

xxoxooxoxooxoxox

cik yana boimen