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Strategy. Chapter 7 T. A. Sgritta UNC Charlotte. Overall Business Strategy. New Tools for Strategic Planning Chapter 7 of ESB. ESB Pick an Industry. NTSP Use SWOT and mission to pick a business. Strategy: Small Business. ESB Industry analysis. NTSP ch. 6: Data www.census.gov

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Strategy l.jpg

Strategy

Chapter 7

T. A. Sgritta

UNC Charlotte


Overall business strategy l.jpg

Overall Business Strategy

  • New Tools for Strategic Planning

  • Chapter 7 of ESB


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ESB

Pick an Industry

NTSP

Use SWOT and mission to pick a business

Strategy: Small Business


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ESB

Industry analysis

NTSP ch. 6: Data

www.census.gov

Trade associations

Industry Analysis


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ESB

Imitation vs. innovation

NTSP

SWOT, industry, market, competition, mission and location analysis

Overall Strategy


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Finding Industry Data

  • Library

  • Major public firms

  • www.census.gov naics

  • www.census.gov.cir (current industry reports)

  • Competitors

    • Direct (interview) or developed

  • Trade associations


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Finding Profitability

  • Library

  • Publicly traded corporations

  • BuzStats.com


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Benefits (Basis of Competition)

  • Cost

  • Value


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Entry Wedges

  • Supply shortages

  • Unutilized resources (creativity?)

  • Customer contracting

  • Second sourcing

  • Market relinquishment

  • Favored purchasing

  • Government rules


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Value Benefits

  • What is the product?

    • Hardware

    • Software

    • Service


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Value Benefits

  • What is the product?

    • Feature

    • Function

    • Benefit

      Be sure to look from the customer’s point of view!

      Ideas? See list page 180


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Tool: SWOT Analysis

  • Strengths - Unique or valuable assets from which to build.

  • Opportunities – The unfilled needs, existing or potential, for one or more or a combination of our strengths.

  • Weaknesses – Internal impediments that limit an organization’s ability to match strengths with opportunities..

  • Threats – Specific outside influences, beyond competition as usual, which can damage the ability to marry strengths and opportunities, or to significantly damage existing business.


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Tool: SWOT Analysis

  • Brainstorming

  • Value Chain

  • Resource Analysis

    • Use +, 0, - rating system


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Strategy Selection

  • Find the best marriage of strengths and opportunities

  • Results are the basis for determining mission

  • Find ways to overcome weaknesses and threats


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Supra Strategies

  • Craftsmanship

  • Customization

  • Super-support

  • Serving the underserved

  • Elite, high quality products

  • Single mindedness

  • Comprehensiveness

  • Bare bones/no frills

  • Cutting out the middleman


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Murphy Panel (single mindedness)


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Specific Strategy Selection

  • Build on strengths

  • Find opportunities for strengths

  • Identify mission (use supra-strategies as appropriate)

  • Develop action plans to

    • Take advantages of opportunities

    • Solidify mission

    • Overcome weaknesses and threats


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Advantages

  • Tangible

  • Intangible

  • Organization capabilities


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VIRO

  • Valuable

  • Rare

  • Imitabilty

  • Organization (fit)


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Life Cycle Considerations

  • See chart page 195


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