Portfoliomodelle IV. Grant, Robert M. Strategische Entscheidungen in diesem Bereich sind insb. In der Forschung gibt es aber eine Vielfalt von Studien, insb. Seit dem Ende der industriellen Revolution und insb.
Chandler, Alfred ; Chandler, Alfred Fortune stetig fiel und die Zahl von diversifizierten Unternehmen zugleich stetig wuchs. Konglomeraten, d. Philip Morris kaufte bspw. Die Erfolge derartiger Wachstumsstrategien durch Diversifikation waren sehr gemischt z. Porter, Michael Brealey, Richard A. Das sog. Der dritte Grund ist die Herstellung von Synergieeffekten. Sehr oft wird auch mit Synergien argumentiert, wenn Branche n zusammenwachsen.
Aus diesem Grund kaufte bspw. Sirower, Mark L. Formen der Diversifikation In der Literatur werden verschiedene Formen der Diversifikation behandelt. Carlos Aber die Erfolgsquote von Kooperation en ist auch eher niedrig. To allow for a better and more granular understanding, I will refer to the former definition in the following chapters. Before we get into the details of building a strategy, it is vital to understand how a strategy differs from a tactic.
While both terms are often interchangeably conf used, they are two entirely different things:. In other words, it shows the path to achieve the defined vision. A tactic refers to the specific actions taken to reach the set goals in line with the strategy. Their managers then need to negotiate with suppliers to reduce the costs of the electronic components used in production.
This is a tactic to achieve the set strategy. Strategy is buying a bottle of fine wine when you take someone out for dinner. Tactics is getting them to drink it. There are three levels at which strategies are typically used: The corporate , business and functional level.
They guide decisions around growth, acquisitions, diversification and investments. Business Level: Business level strategies integrate into the corporate vision, but with a focus on a specific business.
At this level, the vision and objectives are turned into concrete strategies that inform how a business is going to compete in the market. In fact, this is essential to ensure that the different needs of each layer are accurately reflected. Although multiple strategies carry the risk of conflicting priorities and objectives, these risks can be reduced if managed correctly. We will come back to this point in a second.
Essentially, it reflects the strengths and weaknesses of the company and answers how the company plans to respond to the threats and opportunities in the market in which it operates.
A strategy takes into account the resources at hand and how to best deploy them to achieve its set objectives. This incoherence always results in a loss of competitive power that will be exploited in the market. A strategy needs to outline the vision of a business, define its targets and how it is going to grow and compete long-term. Most online sources suggest that strategy formulation should begin by defining the objectives of an organization. But this reaches too far too fast, as it presumes that the offering, the market and the target customers have already been defined.
This is an important step in the strategy building process because it ensures that the designed strategy reflects the actual needs of the relevant market. The former lays out what goods and services are offered, while the value proposition explains why people should buy them in the first place.
Note that the value proposition answers why a firm exists and how it is different from its rivals. In other words, it explains how a firm plans to create demand and compete in the market. To illustrate this with an example, take a look at Shopify. Their value proposition is to offer a single ecommerce platform that lets its customers sell across multiple channels.
Another vital step in building an effective business strategy is to define the type of customer a company serves. Customers are either categorized as consumers B2C or businesses B2B.
Both groups have different criteria, reasons and motivations for purchasing goods and services. Knowing them allows a firm to accurately address their specific needs and wants in its strategy. Finally, strategy builders need to be clear about the market their offering and value proposition are targeting. I recommend reading this article from Annmarie Hanlon if you want to learn more about the specifics of segmenting a market.
The core values and mission are later taken into account when designing the lower-level strategies, such as the marketing or operational strategy.
The fourth step in the strategy formulation answers the question of how the set objectives are achieved. Firms that sell in competitive industries need to define how they want to compete in the market, create demand and increase their sales and margins.
Harvard Business School professor Michael E. Porter identified three types of generic strategies that businesses can choose from when defining their competitive advantage:.
However, firms can also fail to pursue one of these generic strategies effectively. In this case, a company does not offer a product or service unique enough to entice customers to buy. At the same time, the price of the offering is too high to compete effectively in the market.
This cost advantage can be achieved by using economies of scale, proprietary technologies or the ability to create and maintain cost benefits along the supply chain. The cost leadership strategy requires a firm to effectively lower its cost structures while charging prices for its products that are in line with the industry average.
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