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Del curso dictado por University of Virginia

Foundations of Business Strategy

1011 calificaciones

University of Virginia

Foundations of Business Strategy

1011 calificaciones

Curso 1 de 5 en SpecializationBusiness Strategy

Develop your ability to think strategically, analyze the competitive environment, and recommend firm positioning and value creation. In this course, we will explore the underlying theory and frameworks that provide the foundations of a successful business strategy and provide the tools you need to understand that strategy: SWOT, Competitor, Environmental, Five Forces, and Capabilities Analyses, as well as Strategy Maps. We'll apply these tools in case studies of industry leaders Google, Redhook, Piaggio and Apple.

De la lección

Determining Competitive Position

Welcome to the final module. In these lessons, we'll explore firms' competitive positioning relative to rivals and analyze the advantages and disadvantages of four generic competitive positions firms occupy. We'll use an easy and intuitive tool--strategy maps--to visually communicate information about firm positioning, and discuss which position is best for a particular firm to see maximum value. Then apply what you've learned in the Piaggio case study. Happy analyzing!

Determining Competitive Positioning6:09

Generic Competitive Positions, Part 18:20

Generic Competitive Positions, Part 27:51

Mapping Competitive Positions6:02

Which Position Is Best?5:36

Module Lessons2:15

Conoce a los instructores

Michael Lenox
Senior Associate Dean and Chief Strategy Officer
Darden School of Business
Jared Harris
Samuel L. Slover Research Chair in Business Administration
Darden School of Business

Today, we've been focused on Determining Competitive Positioning.

And the idea here is that we're focused on how to understand that there

are different market positions within a particular industry or

market segment that are more favorable than others.

Some positions are more valuable, positions to occupy, than others.

So I think there's several key ideas to take away from a lot of this material.

First of all, positions like markets are defined both by the market needs and

by the ways of delivering on those needs.

It's not just about the idea of it It's about what can we deliver.

Second key idea is that industries often have more than one profitable position.

So, if you think of a strategy map or if you think of

generic competitive positions, it's very possible to occupy a differentiated or

a nitch position that's highly profitable.

But it's also possible to occupy a cost leadership position that can also be

equally profitable.

The key is different strategies are required

to execute on those different competitive positions.

Third key idea is the idea that profitable or rent producing positions

rely on both favorable industry structure but also on superior capabilities.

It's putting together the insights of understanding the makeup of

the market segment or the competitive industry.

And also understanding how we can do something superior to our rivals within

that context.

It's putting these ideas together that helps us really identify

these favorable market positions.

Right?

Fourth idea.

Firms can combine multiple positions.

It's possible to try to pursue an integrated market position strategy.

To pursue, in other words,

some level of differentiation as well as cost leadership.

But there's a caution here.

Firms need to be really careful not to get stuck in the middle and

accomplish neither of those goals.

So you need a strong, strategic logic to combine those multiple objectives.

Finally, I think that it captures what really is the fundamental challenge of

strategy as how can we capture these valuable,

defendable competitive positions?

That's what strategy is all about.

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