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Revolutionizing Strategic Management: Redefining Value Chains and Market Spaces

Explore innovative strategies that revolutionize traditional business models by reconfiguring the value chain. Learn how companies like Amazon and IKEA radically improve their value equations, compress supply chains for efficiency, and scale operations from local to global. Discover techniques such as product/service bundling, re-conceiving offerings, and achieving the joy of use. This approach aims to redefine market spaces and promote mass customization, empowering businesses to cater to individual customer needs and redefine industry standards.

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Revolutionizing Strategic Management: Redefining Value Chains and Market Spaces

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  1. Strategy as Revolution (Changing the rules of the game) Strategic Management

  2. Reconfigure the Value Chain Radically Improving the Value Equation by employing a completely new/different value chain (e.g., Amazon, IKEA) Compressing the Supply Chain (e.g., Wal-Mart, Dell) Re-scale the Industry Increasing scale, from local to national or national to global (e.g., IKEA, Service Corporation [funerals] International) Downscaling to serve narrow or local customer segments (e.g., microbreweries, local bakeries, bed-breakfast inns). Routes to Industry “Revolution”

  3. Product/Service Bundling Offer broader mix of related products along the value chain beyond “core” product (e.g., software office suites, GM car loans/leasing) Re-conceive a Product or Service Separating Function and Form; apply a technology or skill to a completely different setting (e.g., credit card technology used to create security cards, substitute for metal keys) Achieving Joy of Use (e.g., Trader Joe’s, gourmet deli warehouse; Mayan Restaurant) Redefine Market Space Mass Customization/Striving for Individuality (e.g., Levi’s personal pair system) Pushing the Bounds of Universality (e.g., Fuji single use camera). Routes to Industry “Revolution”

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