module 1

Amity Business School

1

Amity Business SchoolMBA (M&S) Class of 2011, Semester III

Strategic Management

Module-I (Introduction)

Vivek Singh Tomar

[email protected]


• To understand the meaning, scope and nature of Strategy and Strategic

Management

• To understand the concept of planning and strategic management process

• To understand how Strategic Management has evolved over years to its

current state today

• To get familiar with major milestones and contributors to the discipline of


• To understand the hierarchy and pattern of strategy development

• To understand the significance and use of Michael Porter’s value chain

model

Module I (Objectives)


• Concept of Planning

• Evolution of Strategic Management

• Corporate Strategy

• Patterns of Strategy Development

• Levels of Strategy

• Competitive Scope and Value Chain

Module I (Contents)


Managerial Challenges

Start up Challenges

•Think Big

•Start Small

•Scale up

Progress Challenges

•Forget

•Borrow

•Learn


Evaluation of Management Concerns

Focus Operation Resources Conception Performance Change

Concern Efficiency Risk Position Execution Renewal

ResponseBudgeting &

ProceduresLong Range

Planning Strategy Excellence in

Execution

Innovation

Phase-I1950s

Phase-II1960s & 1970s

Phase-III1980s

Phase-IV1990s

Phase-V2000 onwards


Understanding Strategy


“Strategy, the art of war, is especially the planning of movement of troops and ships, into favorable positions; plan of action or policy in business or policies”

Oxford Pocket Dictionary


“Strategy is determination of long term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals”

Alfred Chandler

‘Strategy & Structure’


“Strategy is a set of managerial decisions and actions involved in making a major market-creating business offering”

W. Chan Kim

‘INSEAD Faculty’


“What Business Strategy is all about is, in one word – Competitive Advantage. The sole objective of Strategic Planning is to enable a company to gain, as efficiently as possible, a sustainable edge over its competitors. Corporate Strategy thus implies an attempt to alter a company’s strength relative to that of its competitors in the most efficient way”

Kenichi Ohmae

‘The Mind of the Strategist’


STRATEGY IS DEFINED AS THOSE ACTIONS THAT A COMPANY PLANS, IN RESPONSE TO, OR IN ANTICIPATION OF, CHANGES IN ITS EXTERNAL ENVIRONMENT, ITS CUSTOMERS AND ITS COMPETITORS.

STRATEGY IS A WAY COMPANY AIMS TO IMPROVE ITS POSITION VIS-À-VIS COMPETITION.


Strategy narrowly defined as “ the art of general” (Greek StratAgos).

It defines “what we want to achieve” & chart out course of action, to survive & sustain growth in changing environments. Strategy is a set of Key decisions made to meet Objectives.


strategic competitiveness and above normal returns

concerns managerial decisions and actions which materially affect the success and survival of business enterprises

involves the judgment necessary to strategically position a business and its resources so as to maximize long-term profits in the face of irreducible uncertainty and aggressive competition

strategy is the linkage between a business and its current and future environment

Domain of Strategy


Common Elements in Successful Strategy

Successful Strategy

Profound understanding of the competitive environment

Objective appraisal of resources

Long-term, simple and agreed uponobjectives

$

EFFECTIVE IMPLEMENTATION

Source: Adapted from Robert S. Grant, 1991


Thinking Strategically

• Answers to the following define an overall direction for the organization's grand strategy

Where is the organization now? Where does the organization want to be? What changes are among competitors? What courses of action will help us achieve our goals?


Understanding Strategic Management


• Strategic or institutional management is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives

• It is the process of specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.


• Strategic management is a level of managerial activity under setting goals and over Tactics.

• Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies

• According to Arieu (2007), "there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context."


• “Strategic management is an ongoing process that evaluates

and controls the business and the industries in which the

company is involved; assesses its competitors and sets goals

and strategies to meet all existing and potential competitors; and

then reassesses each strategy annually or quarterly [i.e.

regularly] to determine how it has been implemented and

whether it has succeeded or needs replacement by a new

strategy to meet changed circumstances, new technology, new

competitors, a new economic environment., or a new social,

financial, or political environment.” (Lamb, 1984:ix)


Strategic ManagementManagers ask such questions as...What changes and trends are occurring?Who are our customers?What products or services should we offer?How can we offer these products or services most

efficiently?


Concept of Planning


• Concept 1: Organisations need a planning architecture.

A planning architecture is an overview of how different planning processes fit together. It identifies:

• different types of plan• the time horizon of each• when they have to be completed• time allowed for preparing the plan• the frequency of updating• who is responsible• how the different plans fit together.


A Planning Architecture


Concept 2: Planning is an intellectual process.


Concept 3: Planning is a social process.


The Strategic Management Process


Strategic Management Process

Implement Strategy via Changes in: Leadership culture, Structure, HR, Information & control systems

SWOT

Formulate Strategy – Corporate, Business, Functional

Define new Mission objectives, Grand Strategy

Identify Strategic Factors – Strengths, Weaknesses

Identify Strategic Factors – Opportunities, Threats

Scan Internal Environment – Core Competence, Synergy, Value Creation

Evaluate Current Mission, objectives, Strategies

Scan External Environment – National, Global


4 Phases of Strategic Management in a Company

• Basic Financial Planning

-(Meeting annual budgets) • Forecasting-based Planning

-(Incorporating predictions beyond next year)

• Externally Oriented Planning

-(Thinking strategically, Strategic Planning)

• Strategic Management

• -(Considering also the implementation & control aspects when formulating strategies)



The Evolution


Some Questions

• How has the strategy field developed? • How has the thinking in strategy evolved?• How is the thinking in strategy moving towards?• What are the questions in strategy that are not answered?• What are the dilemmas and confusions in the field of strategy• What have been the loop holes in strategy making?• What are the potential models of sustainable strategy?


DOMINANTTHEME

1950s 1960s-early 70s Mid-70s-mid-80s Late 80s –1990s 2000s

Budgetary Corporate Positioning Competitive Strategicplanning & planning advantage innovationcontrol Financial Planning Selecting Focusing on Reconcilingcontrol growth &- sectors/markets. sources of size with

diversification Positioning for competitive flexibility &leadership advantage agility

Capital Forecasting. Industry analysis Resources & Cooperativebudgeting. Corporate Segmentation capabilities. strategy.Financial planning. Experience curve Shareholder Complexity. planning Synergy Portfolio analysis value. Owning

E-commerce. standards. — Knowledge Management—

Coordination Corporate Diversification. Restructuring. Alliances && control by planning depts. Global strategies. Reengineering. networksBudgeting created. Rise of Matrix structures Refocusing. Self-organizsystems corporate Outsourcing. ation & virtual

planning organization

MAINISSUES

KEY CONCEPTS&

TOOLS

MANAGE-MENTIMPLIC-ATIONS

Major Timeline


Major Thought Schools

Alfred Chandler – Corporate Strategy

John Dunning – IB Strategy

C K Prahalad – Inclusive Strategy

Sumantra Ghoshal – Problems in T.C.E.


Historical development of Strategic Management

Birth of strategic management

originated in the 1950s and 60s

Alfred D. Chandler, Jr., Philip Selznick,

Igor Ansoff, Peter F. Drucker


Alfred Chandler

Strategy and Structure “structure follows strategy”

Philip Selznick

Organization's internal factors with external environmental circumstances

SWOT analysis


Igor Ansoff

market penetration strategies

product development strategies

market development strategies

horizontal and vertical integration

diversification strategies

Corporate strategy


Peter Drucker

stressed the importance of objectives

management by objectives (MBO)


Growth and portfolio theory

Profit Impact of Marketing Strategies (PIMS)

effect of market share

Started at General Electric, moved to Harvard in the early 1970s, and then moved to the Strategic Planning Institute in the late 1970s, it now contains

decades of information on the relationship between profitability and strategy

"PIMS provides compelling quantitative evidence as to which business strategies work and don't work" - Tom Peters.


The Japanese challenge:

• Higher employee morale, dedication, and loyalty;

• Lower cost structure, including wages;

• Effective government industrial policy;

• Modernization after WWII leading to high capital intensity and productivity;

• Economies of scale associated with increased exporting;

• Relatively low value of the Yen leading to low interest rates and capital costs, low dividend expectations, and inexpensive exports;

• Superior quality control techniques such as Total Quality Management and other systems introduced by W. Edwards Deming in the 1950s and 60s.


McKinsey 7S Framework

Strategy, Structure, Systems, Skills, Staff, Style, and Supra-ordinate goals

The Mind of the Strategist was released in America by Kenichi Ohmae

Tom Peters -In Search of Excellence


Gaining competitive advantage Gary Hamel and C. K. Prahalad Strategic intent and strategic architecture

Dave Packard and Bill Hewlett devised an active management style that they called Management By Walking Around (MBWA).

Michael Porter cost minimization strategies, product differentiation

strategies, and market focus strategies


The Military Theorists

• Business War Games by Barrie James, 1984 • Marketing Warfare by Al Ries and Jack Trout, 1986 • Leadership Secrets of Attila the Hun by Wess Roberts , 1987

Philip Kotler was a well-known proponent of marketing warfare strategy

• Offensive marketing warfare strategies • Defensive marketing warfare strategies • Flanking marketing warfare strategies • Guerrilla marketing warfare strategies


Strategic change

In 1968, Peter Drucker (1969) coined the phrase Age of Discontinuity

In 2000, Gary Hamel discussed strategic decay

In 1978, Abell, D. described strategic windows and stressed the importance of the timing (both entrance and exit) of any given strategy


Clayton Christensen (1997)

1-disruptive technology

2-agnostic marketing (no one knows how in what quantities a disruptive product will be used before experiencing the product)

Henry Mintzberg (1988) – Strategy was much more fluid and unpredictable than people had thought


• Strategy as plan - a direction, guide, course of action - intention rather than actual

• Strategy as ploy - a maneuver intended to outwit a competitor

• Strategy as pattern - a consistent pattern of past behaviour - realized rather than intended

• Strategy as position - locating of brands, products, or companies within the conceptual framework of consumers or other stakeholders - strategy determined primarily by factors outside the firm

• Strategy as perspective - strategy determined primarily by a master strategist


Information and technology driven strategy

• Peter Drucker had theorized the rise of the “knowledge worker” back in the 1950s

• In 1990, Peter Senge, who had collaborated with Arie de Geus at Dutch Shell, borrowed de Geus' notion of the learning organization

• People can continuously expand their capacity to learn and be productive

• New patterns of thinking are nurtured

• Collective aspirations are encouraged, and • People are encouraged to see the “whole picture” together.


Senge identified five components of a learning organization. They are:

• Personal responsibility • Self reliance

• Mastery of Mental models

• Team learning -“a spirit of advocacy to a spirit of enquiry” • Systems thinking


The psychology of strategic management

informal, intuitive, non-routinised, and involving primarily oral, 2-way communications

“feeling”, “judgement”, “sense”, “proportion”, “balance”, “appropriateness”.


Criticisms of strategic management

marketing myopia

In 2000, Gary Hamel coined the term strategic convergence

Ram Charan, aligning with a popular marketing tagline, believes that strategic planning must not dominate action. "Just do it!",


Journals/Magazines devoted primarily to Strategic Management

• Strategic Management Journal

• Harvard Business Review

• Long Range Planning

• The Economist

• MIT Sloan Management Review

• Academy of Management Journal


Corporate Strategy


• Corporate Strategy• Approach to future that involves (1) examination of the current and anticipated factors associated

with customers and competitors (external environment) and the firm itself (internal environment),

(2) envisioning a new or effective role for the firm in a creative manner, and

(3) aligning policies, practices, and resources to realize that vision.


Industry Attractiveness

Which Industry should we be in?

Competitive Advantage

How Should we Compete?

Rate of Return above the Cost of

CapitalHow do we make

money?

BusinessStrategy

Corporate Strategy


Corporate Strategy.

Over all attitude of corporation towards its various businesses and product lines in terms of Stability growth & management.

e.g.. Big Bazaars Corporate Strategy of growth diversifying base in retailing into delivery business.


I. Directional Strategy: CORPORATE STRATEGIESA. Growth Strategies:To expand company’s activities

1. Concentration:Growth potential & concentration of resources on current product lines.

a. Vertical Growth:Taking over Suppliers/Distributors Function

i. Back Ward Integration:Take over supplier’s fn.

ii. Forward Integration:Take over Distributor’s fn.

Amount of Vertical Integration Full IntegrationInternally 100%own key supplies & distribution

Taper IntegrationInternally less than 50% own key supplies

OutsourcingLong term contract for key supplies & distribution

b. Horizontal Growth:Expanding in the geographical location & increasing

Product & Services in current markets Popular methods to horizontal growth internationally.

Exporting Licensing Franchising Joint Ventures Acquisitions Green Field Development Production Sharing Turnkey operations Management contracts Build, Operate, Transfer (BOT)


I. DIRECTIONAL STRATEGY: A. Growth Strategies:2. Diversification:Less growth potential in current product lines

a. Concentric Diversifying in related product or services.the search for synergy, the concept for two business can generate more profits together than separately. The point may be similar technology, customer usage, distribution, managerial skills, or product similarity .

b. Conglomerate Diversifying in unrelated product or services. It is concerned primarily with financial considerations of cash flow or risk reduction. To transfer its excellent management system into less well managed acquired firm.


B. Stability: Make no changes in company’s activities

1. Pause Strategy:

2. No Change Strategy:

3. Profit Strategy:

C. Retrenchment Strategy:

1. Turn around: Contraction ‘Stop the Bleeding’ Cut back Size & Cost.

Consolidation: Stream Line the company IBM Computer Service Provider

2. Captive company:Company becomes another company’s sole Supplier or Distributor.

3. Sell out/ Divestment: hotmail, Ranbaxy etc.

4. Bankruptcy / Liquidation:


II. Portfolio StrategyHow individual product lines & business units can gain competitive advantage in the

marketplace by using competitive & cooperative Strategies.

III. Parenting Strategy:Mgt. Coordinates activities & transfers resources & cultivates capability among product lines & business

units.


Patterns of Strategy Development


Levels of Strategy


• Arrange the following terms in a logical hierarchy:– Company– Division– Strategic Business Unit (SBU)– Corporation– Industry– Value Chain– Person– Department– Market


– Industry – Value Chain– Company– Department– Person

A market refers to the place where A market refers to the place where goods and services are exchanged.goods and services are exchanged.

• Arrange the following terms in a logical hierarchy:

– Corporation– Division / SBU– Company


Rumelt's Typology of Diversification

1. Single Product: 95% of revenues from a single product line

2. Dominant Product: 70-94% of revenue from a single product line

3. Related Product: Less than 70% of revenue from a single product line and and the remainder of revenues from a related product domain

4. Unrelated Product: Less than 70% of revenue from a single product and remainder of revenues from an unrelated product domain


FUNCTIONAL STRATEGY:Maximize Resource Productivity

It is concerned with developing & nurturing a distinctive competence to provide a company or business unit with a

competitive advantage

CORPORATE STRATEGY:Overall Direction of Company and Management of Businesses

BUSINESS STRATEGY:Competitive & Cooperative Strategies

It occurs at Business unit or Product level.It emphasizes on improvement of competitive position of

Corporations product & services

Functional Strategy supports Business Strategy which in turn supports the Corporate Strategy


ORGANIZATIONAL STRUCTURE

&

LEVELS OF STRATEGY

Business

Strategy

Corporate Strategy

Functional Strategy

Div-A Div-B Div-C

Prod. HR Fin. Marketing

CorporateHead Office


Corporate Level Strategy• What businesses are we in? What businesses

should we be in?

• Four areas of focus– Diversification management (acquisitions and

divestitures)– Synergy between units– Investment priorities– Business level strategy approval (but not crafting)


Corporate-Level Strategies

FirmStatus

Valuablestrengths

Criticalweaknesses

Environmental StatusAbundant

environmentalopportunities

Criticalenvironmental

threats

Corporategrowth

strategies

Concentric Diversification(Economies of Scope)

ConglomerateDiversification(Risk Mgt.)

Corporateretrenchment

strategiesCan still go for business-level growth

(economies of scale)

Corporatestability

strategies


Business Level Strategy• How do we support the corporate strategy?• How do we compete in a specific business arena?• Three types of business level strategies:

– Low cost producer– Differentiator– Focus

• Four areas of focus– Generate sustainable competitive advantages– Develop and nurture (potentially) valuable capabilities– Respond to environmental changes– Approval of functional level strategies


Functional / Operational Level Strategy

• Functional: How do we support the business level strategy?

• Operational: How do we support the functional level strategy?

• An example.• Business L.S.: Become the low

cost producer of widgets• Functional L.S. (Mfg.): Reduce

manufacturing costs by 10%• Operational (Plant #1): Increase

worker productivity by 15%


A Simple Organization Chart(Single Product Business)

Business

Research andDevelopment

Manufacturing MarketingHuman

ResourcesFinance

FunctionalLevelStrategy

BusinessLevelStrategy


A Simple Organization Chart(Dominant or Related Product Business)

MultibusinessCorporation

Corporate Level

Business 1(Related)

Business 2(Related)

Business 3(Related)

BusinessLevel

Research andDevelopment

Manufacturing MarketingHuman

ResourcesFinance

FunctionalLevel


An example of an Unrelated Product Business(Note: By itself, an SBU can be considered a related product business)

A (Multi-business)

Corporation

Ex.: G.E. (GeneralElectric Corp.)

Strategic Business Unit 1

S.B.U. 2

Company 1 Co. 2 Co. 3 Division 1 Div. 2 Div. 3

SBU: a single business or collection of related businesses that is independent and formulates its own strategy


Competitive Scope and Value Chain


How a firm can actually create and sustain a competitive advantage in its industry


Two Basic Types

• Cost leadership

• Differentiation


Value Chain

• Identify which activities contributing to cost leadership and differentiation

• Analyze the source of competitive advantage


Value Chain

Inbo

und

Logi

stic

s

Ser

vice

Mar

ketin

gan

d S

ales

Out

boun

dLo

gist

ics

Mar

gin

Ope

ratio

ns

Procurement

Firm Infrastructure

Human Resource Management

Technology Development

PrimaryActivities

SupportingActivities


Primary Activities

• Inbound LogisticsReceiving, storing, and disseminating inputs. E.g., warehousing, inventory control

• OperationsTransforming inputs into the final product form


Primary Activities

• Outbound LogisticsCollecting, storing and distributing the product to buyers

• Marketing and SalesProviding a means and incentive which allow buyers to purchase the product

• ServiceProviding service to enhance or maintain the value of the product


Primary Activity Focus by Industry

Industry Inbound Logistics

Operations Outbound Logistics

Marketing & Sales

Service

Distributor X X

Restaurant X NA

Corporate Lending

X

Xerox X


Support Activities

• ProcurementFunction of purchasing inputs used in the value chain

• Technology Development


Support Activities

• Human Resource Management

• Firm Infrastructure

planning, finance, accounting, legal, etc.


Competitive Scope

• Four scopes may affect value chain

• Ex. The value chain serves minicomputer requires extensive sales assistance, less hardware performance – different from what serves small business


Competitive Scope

• Segment ScopeDifferences required to serve different product or buyer segment

• Vertical ScopeDivision of activities between a firm and its suppliers, channels, and buyers


Competitive Scope

• Geographic ScopeDifferent geographic areas

• Industry ScopeInterrelationships among business units


“Generic” Competitive Advantage

• Cost Leadership

• Differentiation

• Focus


Competitive Strategies

Competitive Advantage

Lower Cost Differentiation

Com

petitive S

cope

Broad

Target

Cost Leadership Differentiation

Narrow

Target

Cost Focus Differentiation Focus


Cost Leadership Strategy

Steps to achieve cost leadership

• Make cost assignment

• Identify cost drivers

• Understand cost dynamics

• Control cost drivers

• Reconfigure the value chain


Operating Cost Assignment

Firm Infrastructure (9%)

Operations (67%)

Inbo

und

Log

isti

cs (

3%)

(27%)

(40%)

Procurement (1%)

Human Resources Management (2%)

Technology Development(9%)

Mar

keti

ng &

Sal

es (

6%)

OutboundLogistics (1%)

Mar

gin

(5%

)S

ervi

ce (

1%)

Purchased Operating Inputs

Human Resource Costs


Asset Assignment

Firm Infrastructure (16%)

Operations (67%)Inbound Logistics

(38%)

(8%)

Procurement (2%)

Human ResourcesManagement (1%)

Technology Development(2%)

Marketing & Sales (1%)

OutboundLogistics (1%)

Ser

vice

(2%

)

(15%)Liquid Assets

Fixed Assets

(5%)

(6%)

(2%)


Why cost assignment

• Understand the firm’s cost structure

• Find cost drivers of each cost segment

• Match cost structure to buyer’s value chain

• Configure and reconfigure the cost structure


Cost Leadership – Cost Drivers

Factors affect costs.



• Economies or diseconomies of scale• Learning and spillover• Pattern of capacity utilization

– When fixed cost high, capacity utilization is important

• Linkages How other activities are performed– Linkages within the Value Chain– Vertical Linkages



• InterrelationshipsWith other business units within a firm

• IntegrationVertical integration in a value activity

• Timing



• Discretionary policiesPolicies that reflect a firm’s strategy

• Location

• Institutional factorse.g., government regulations, financial incentives, unionization, etc.


Identify Cost Drivers


Cost Dynamics

• What cause the change of cost drivers


Cost Dynamics

• Industry real growth

• Differential scale sensitivity

• Different learning rates

• Differential technological change

• Relative inflation of costs

• Aging

• Market adjustment


How to Achieve Cost Advantage

Cost Position

composition of afirm’s valuechain versuscompetitors’

Cost Advantage

a firm’s relativeposition vis-à-visthe cost driversof each activity

Reconfigure thevalue chain

Control costdrivers

achieve


Analyze Cost Advantage

Your costAdvantage

Mar

gin

Oper

ation

s

Firm Infrastructure

Human Resource Management

Technology Development

Procurement

Inbo

und

Logis

tics

Outb

ound

Logis

tics

Mar

ketin

gan

d Sa

les

Serv

ice


Control Cost Drivers

• E.g., control scale – gain the appropriate firm size


Reconfigure the Value Chain• Reconfiguration of the value chain presents the opportunity

to fundamentally restructure a firm’s cost, compared to settling for incremental improvements.

• By altering the basis of competition in a way that favors a firm’s strengths, it may change the important cost drivers in a way that favors a firm.


Steps in Strategic Cost Analysis

1. Identify the appropriate value chain and assign costs and assets to it.

2. Diagnose the cost drivers of each value activity and how they interact.

3. Identify competitor value chains, and determine the relative cost of competitors and the sources of cost differences.

4. Develop a strategy to lower relative cost position through controlling cost drivers or reconfiguring the value chain and/or downstream value.


Cost Focus

A firm dedicates its efforts to a well-chosen segment of an industry can often lower its costs significantly.


Differentiation

• Emphasize on a unique source of differentiation in the Value Chain, rather than on products or markets only

• Differentiation base on buyers’ value, not only difference that buyers do not value

• Should consider the cost of differentiation


Uniqueness Buyers’ ValueDifferentiation


Identify Sources of Differentiation

Mar

gin

Your strength which canlead to differentiation and

then improve buyers’ value


Drivers of Uniqueness

• Policy Choices• Linkages

– Linkages within the value chain– Supplier linkages– Channel linkages

• TimingBe the first

• Location


Drivers of Uniqueness

• InterrelationshipSharing a value activity with sister business units. E.g., sharing a sales force for both insurance and other financial products

• Proprietary learning• Integration – e.g., integrating online systems to current ordering

systems• Scale• Institutional factors – e.g., “Madame’s route”


Why buyers purchase?

Purchasing Criteria

• User criteria – firms to meet them by lowering cost or raising buyer performance

• Signaling criteria – telling buyers what benefits to get


Differentiation for creating Buyer Value by

• Lowering buyer cost• Raising buyer performance• Signaling the value

• Linking the firm’s value chain to the buyer’s value chain

Through


Steps in Differentiation

1. Determine who the real buyer is2. Identify the buyer’s value chain and the firm’s impact

on it3. Determine ranked buyer purchasing criteria4. Assess the existing and potential sources of

uniqueness in a firm’s value chain


Steps in Differentiation

5. Identify the cost of existing and potential sources of differentiation

6. Choose the configuration of value activities that creates the most valuable differentiation for the buyer relative to cost of differentiating

7. Test the chosen differentiation strategy for sustainability

8. Reduce cost in activities that do not affect the chosen forms of differentiation


Other Discussion

• Creative Industries

• Supply Chain Management

• What is “Buyer’s Value Chain”?

module 1

Documents

business strategy

amity business school

nature of strategy

strategic management

strategic management

organizations grand

institutional management

expectations of management