overall - mba comp guide

8/6/2019 Overall - MBA Comp Guide

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OVERALL -MBACOMP GUIDE.DOC

STRATEGICMARKETING SCHEME

END WITHCONCLUSION

Introduction: (case overview)

Type of Business

Geographic Domain

Culture of Senior Management

Competitive Situation

ENTRYSTRATEGY

1)FOREIGNDIRECTINVESTMENT(DISADVANTAGE:HIGH RISK OFINVESTMENT)

(ADVANTAGE:FULL CONTROL OF BUS)

A)ACQUISITION

I. External Audit (environm ental scanning orindustry an alysis):Macro Environ men t (societal environm ent) (PEST)

(1) Political- legal varia bles: ( David p. 93 Table)

-political stability,

-facilities for the entrance for new foreign investment,

-taxation law,

-deregulation trend

(2) Economic var iables: (David p.85 Table)

-investment laws and regulations,


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- The GDP (which directly reflects on consumer spending power)

- The currency depreciation or appreciation

- Wages level

-price elasticity of demand (kotler 477)

(3) Social, cultural, dem ographics variables: (p. 90 Table)

- Cultural fear or freedom level

- Cultural symbol (status)

- Demographics (age, size,)- continuous growth in the world population

- Whats socially acceptable?

(4) Technological variables (p.93)

-The Intern et; (rapid growth in the internet infrastructure)

- The pace of technological change.

- The rate of development

- The presence of skilled persons

- Presence of technological capabilities.

(5) Compe titive forces (p.96)

- Identification of Rival firms- Determining their SWOT and capabilities- Understand the degree of Intensity among competition in Egypt in this Industry- Conduct a Competitive Intelligence Study Then establish an ongoing unit (and make

it clear to Local management that it is espionage to avoid culture clash)

* More on the competition shall be explained at Industrylevel using Porter 5F model inthe coming section of Task Environment


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Task Environm ent

Directly related to our CO :

Task environm ent Use Porter 5 forces: (p. 100)

1. Threats of new entrants

2. Rivalry among existing firms

3. Threats of substitutes

4. Bargaining power of Buyers

5. Bargaining power of suppliers

* Other Stakeholders (Shareholders, Internal & Ext customers)

Market Size of Market , Perfect competition, Oligopoly, Monopoly,

Customer- Awareness, education, Lobby groups (, Industrial Bus Buyer

Competitors (strategy, objectives, strength and weaknesses)

Distributors and dealer (agents, broker, manufacturer rep., and others who findingand selling to customer)

Suppliers (material supplier, service supplier such as marketing research agency,Adv. Agency, insurance, telecommunication and insurance companies - PR agency)

Few or several suppliers


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The bargaining power of buyers, how strong?

CRITERIA SCORE

A single or very few buyers purchase a high proportion of total sale 1

Product volume purchased 3

Products are standard or undifferentiated 4

Low switching costs 4

Buyer is in low profit business = sensitive to cost 4

Real threat of backward integration from buyer 3

Industry product not important for buyer quality 1

The buyer has full information on product 4

TOTAL 24

% 60%

The bargaining power of suppliers, how strong?

CRITERIA SCORE

Dominated by few companies, more concentrated than the target industry 4

The target industry is NOT important to the supplier 2

Supplier product is unique, or high switching cost 5

Supplier product is critical for the business of the target 4

Substitutes are not easily available 4

Real threat of forward integration from supplier 4

TOTAL 23

% 77%

Rivalry among existing firm s?

CRITERIA SCORE

Number of firms, few equally balanced giants 4

Industry growth rate 1 Very high or fixed storage cost 3

Commoditization, low differentiation 1

Capacity, intermittent overcapacity 5

Diversity of rivalry 5

High strategic/corporate stakes 4

High exit barriers 3

TOTAL 26

% 55%


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Threat of new entran ts barrier s to entry how high

CRITERIA SCORE

Powerful economies of scale 4

Strong customer loyalty by product differentiation 1Large capital investment requirements 2

Switching cost for new products are high 4

Lack of access to distribution channels 3

Structural cost disadvantage 1

Government policy 4

TOTAL 19

% 54%

Substitutes:

CRITERIA SCORE

Relative perceived value tending to improve 2

Where the threat is to another industry's cash cow 4

TOTAL 6

% 60%

Relative Powe r of Other Stakeholders:

Challenges:

1- Globalization (p.107)Knowing that the Co understudy is part of a global structure, the strategic

decisions shall be based on its impact on global productivity rather than

just local achievements in Egypt

This means that Production could be based in Egypt (low labour cost) and

supporting other branches worldwide.

However we have to think Global & act Local eg Mc Mehraga

2- Going international challenges:II. International factors may cause significant risks to the company. The

company's business may be subject to unexpected changes in: regulatory

requirements, tariffs and other trade barriers, costs of localizing productsfor foreign countries, lack of acceptance of localized products in foreign


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countries, longer accounts receivable payment cycles, difficulties in

managing international operations, political instability, potentially adverse

tax obligations, restrictions on the repatriation of earnings and the burdens

of complying with a wide variety of foreign laws and regulations.

III. The laws of certain countries in w hich the company may sell its products

and services do not protect the company's software and intellectual

property rights. As a result, it may be possible for a third party to copy or

otherwise obtain and use the company's technology w ithout

authorization, or to develop similar technology independently. If this

occurs to any substantial degree to the company's business, results ofoperations and financial condition could be affected.

IV. An integral factor in the company's grow th strategy is the development of

third party relationships w ith a number of consulting and systems

integrator firms to enhance its marketing, sales, and customer support

efforts.

3- Internet

Instant transmission of money and Information (ecommerce & Intranet)

1.Opportunities & ThreatsEXTERNAL FACTORS WEIGHT RATING

WEIGHTEDSCORE

COMMENTS

THREATS

Emergence ofsubstitutes products 0.1 4 0.4 Due to the global expansion

Government regulations 0.25 5 1.25May interfere in companyspolicies

OPPORTUNITIES

Expanding globally0.35 4 1.4

Will increase the companiesgrowth and reduce risk

Entering new marketsegments 0.25 5 1.25 Like sport field

Capitalize on leadingposition in the market 0.05 2 0.1

Will reduce risk and increasesprofit

TOTAL SCORES 1 4.4 ABOVEAVERAGE


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Marketing Strategy Audit (Mission Objectives Strategy)

Marketing Organization Audit (Functional Efficiency)

Marketing Productivity Audit (Profitability Cost Effectiveness)

Marketing Functions Audit ( 4 Ps)

People represent the businessThe image they present can be important First contact often human what is the lasting image they

provide to the customer?

Extent of training and knowledgeof the product/service concerned

Mission statement how relevant? Do staffs represent the desired culture

of the business?

Process

How do people consume services?What processes do they have to go through to acquire the

services?

Where do they find the availabilityof the service? Contact Reminders Registration Subscription Form filling Degree of technology

Physical Environment

The ambience, mood or physical presentation of theenvironment


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Smart/shabby?Trendy/retro/modern/old fashioned? Light/dark/bright/subdued? Romantic/chic/loud?

Clean/dirty/unkempt/neat? Music? Smell?

2.Internal EnvironmentCorpor ate structure: (p.250) +HR Paper

The organization is the process of arranging people and other resources to work

together to accomplish a goal and as a result of the company strategy the

organization structure must be adjusted to cope with the new strategy and

achieve its goals.

The organization's strategy to grow and go more international must be reflected

on the organization structure to achieve the required result.

Simple structure:Owner-manager makes decisions.

Little specialization of tasks.

Few rules, little formalization.

Advantages: Provides high flexibilityRapid product introduction

Few coordination problems


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Functional structure:The company rather being lead by an entrepreneur, he is replaced by as team of

managers who have functional specializations. The entrepreneur must learn nowto delegate his responsibilities; otherwise, the new structure will yield no benefit

Advantages

Centralized control of operations

Promotes in-depth functional expertise

Enhances operating efficiency where tasks are routine

Disadvantages

Functional coordination problems

Inter-functional rivalry Overspecialization and narrow viewpoints

Hinders development of cross-functional experience

Slower to respond in turbulent environments

President

Legal affairsAccounting

HR Finance Marketing R&D Production


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Divisional structure:It occurs especially when the organization is managing diverse product line or

when the organization is expanding to cover wider geographical areas

Advantages: Decentralized decision making

Each business is organized around products

Puts profit/loss accountability on manager

Facilitates rapid response to environmental changes

Allows efficient management of a large number of units

Disadvantages

May lead to costly duplication of functions

Inter-divisional rivalry

Corporate managers may lose in-depth understanding

President

Productdivision B

Manufacturing

Finance

Marketing

ManufacturingHRMarketing

Finance

Productdivision A

HR


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Strategic business unit (SBU) structure: (p250)

Matrix Structure

The matrix structure (some times called the matrix organization) it combines thefunctional and divisional structure. It is designed to gain the advantage and

minimize the disadvantages of the functional and divisional structures.

The matrix is formed by using permanent cross functional teams to integrate

functional expertise in support of a clear divisional focus on project, product or

program.

The matrix structure in the multinational organizations offers a flexibility to

deal with the regional differences as well as the multi products, programs or

regional needs.

The matrix structure is the common solution for the organizations that pursues

the growth strategies in a dynamic and complex environment

Functional & product form are combined simultaneously at the same

level.

Employee have 2 superior, functional superior & horizontal product

manager

When to use ?

Scarce resources

Ideas need to be cross fertilized across projects External environment is very complex and changeable

3 Distinct phase exist in the development of matrix structure

1 -Temporary cross functional task forces:

Project manager is in charge as the key horizontal link

2 -Product or brand management:

The functional is still the primary organizational structure, product

manager act as integrator of semi permanent product or brand

3-Mature matrix:

A true dual authority structure, functional & product structure are

permanent


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General Manager (Assistant)

Project Manufacturing Engineering SalesMarketing

Manager Manager Manager Manager Manager

Project A xxxx xxxx xxxx xxxx

Project B xxxx xxxx xxxx xxxx

Project C xxxx xxxx xxxx xxxx

Network structure many activities are outsource

series of independent firms or business units that are linked together by computers inan IS

Used when the environment is unstable

Nike , Reebok , Benetton use the network structure on there operation functions by

subcontracting manufacturing to other companies in low cost location around the world.

Advantages:

Rapid response time

Firms emphasize their own core competencies

Very flexible

Reduces capital intensity

Corpor ate Culture

It is the collection of beliefs, expectations and values learned, shared by a corporation's

members, and transferred from one generation of employees to another. It might be changing

or elaborating but hardly completely fades away. It gives the corporation its identity.

The best organization have strong culture that show respect for members


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Leadership Style +HR Paper

The founder (SA) at this point is following a telling leadership style, which is

characterized by giving a specific task directions and closely supervising tasks.

At this point of time and according to the current circumstances the leadershipstyle must be adapted to match the near future circumstances.

According to behavioural approach, there are four styles:

1. Laissez-faire shows low concern for both people and task. Turn most

decisions over the work group and show less interest in the work process

or its results.

2. Directive or Autocratic, High concern for task and low concern for

people. Make most of the decisions, gives directions and expect his

orders to be followed.

3. Supportive or human relations leader shows high concern for people

and low concern for tasks. Warm in interpersonal relationships, avoid

conflict, and seek harmony in decision-making.4. Participative or democratic, shows high concern for both people and

task. Share decisions with the work group, encourage participation and

support the work efforts of others.

Corporate Resources

1-Marketing (st, segmentation, targeting, positioning 4Ps)

2-Finance (financial ratios #trend or comparative)

3-R&D

4-Operations

5-MISINFORMATION SYSTEMS

-Managing and using information systems can pose several challenges

including the development process and ethical responsibilities.

-Information systems are a major source of information and support needed to

promote effective decision making by managers and business professionals.

Information systems can be categorized based on their intended purpose.

1. HUMAN RESOURCES


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OPERATIONSUPPORTSYSTEMS

DEFINITION:Information systems that process data generated by and used in business operationsGoal is to efficiently process business transactions, control industrial processes, support

enterprise communications and collaboration, and update corporate databases

TRANSACTION PROCESSING SYSTEMS (TPS)process data resulting from business transactions, update operational databases, and produce

business document

PROCESS CONTROL SYSTEMS (PCS)

monitor and control industrial processes.

ENTERPRISE COLLABORATION SYSTEMSsupport team, workgroup, and enterprise communications an collaboration.

MANAGEMENTINFORMATIONSYSTEMS (MIS)provide information in the form of pre-specified reports and displays to support business

decision making.

DECISIONSUPPORTSYSTEMS (DSS)provide interactive ad hoc support for the decision making processes of managers and other

business professionals.

EXECUTIVEINFORMATIONSYSTEMS (EIS)provide critical information from MIS, DSS, and other sources tailored to the information

needs of executives.

EXPERTSYSTEMS

provide expert advice for operational chores or managerial decisions


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KNOWLEDGEMANAGEMENTSYSTEMSsupport the creation, organization, and dissemination of business knowledge to employees

and managers

FUNCTIONALBUSINESS SYSTEMSsupport basic business functions

STRATEGICINFORMATIONSYSTEMSsupport processes that provide a firm with strategic products, services, and capabilities for

competitive advantage

CROSS-FUNCTIONALINFORMATIONSYSTEMS

integrated combinations of information systems

6- Human Resource + HR paper

REGARDINGHUMANRESOURCEMANAGEMENT

END WITHCONCLUSION

Human resource management is one of the most important key success factors

in organization, which is not totally implemented in Egypt, and its improvement

will greatly improve the organization performance

1. Human Resource ObjectivesThe human resource objective reflects the intention of the senior management

(strategy) with a balance to the related topics such as HR functions, society,

governing rules, etc.

There are four major objectives for the Human resource management;

1. Organizational objectives: to achieve the required organization

effectiveness and objectives and ensure that the organization always has

people with the right abilities available to do the right work

2.FunctionalObjectives: maintain the departments contribution at a level

appropriate to the org. needs3. Societal Objective:respond ethically and socially to the challenges of the

environment while minimizing the negative impact of such demands on

the organizations4.Personal objectives: to assist retain and motivate the employees for

achieving their personal goals and guide them to better achievement(most important )


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2- Human Resource Strategy:

The human resource Strategy addresses the issue of whether to recruit a low

skill, low paid, high turnover employees or higher a high skill, high paid, lowturnover employees. The organization policy to go international must be a

highly paid high skill, low turn over employees to improve creativity of the

employees and the turnover must be kept at its minimum levels.

3-Human Resource Policies and Programs

- Preparation and selection: Review of the employees' job description, job

specification and job performance standard to match the change of the

organization.

- Succession Planning: the preparation of the company succession plan will

enable the organization to stand any future challenges.

- Career Path and development: the preparation of the career path for the

employees will help the stability and minimize the turnover of the employees.

- Recruitment: designing a good recruitment process (Selection, interviews)

with a high level of orientation to ensure the compatibility of the new recruited

employees with the existing culture to achieve organizational objectives.

- Training and development: on-the- job training, Off-the-Job training and

Provide career planning assistance for employees.

- Incentive system will ensure the motivation of the employees to betterperformance (linking incentive to production)

- Compensation Policies and protection: What employees get in exchange for

their contribution to the organization, maintain, retain productiveworkforce, achieve the org. objectives

- Testing: Will ensure the qualification of the candidates and their fit in the

organization culture.

- Managing workforce diversity( if the organization is going internationally)- Enhance employee participation: in implementing our strategy, all

employees from different organizational levels must make a meaningfulcontribution in decision-making .this will increase employee's involvement and

enhance their working life balance.

- Enhance employee organizational commitment: by increasing jobinvolvement, which results in lower levels of absenteeism and turnover.

- Implementing employee recognition programs: starting with personal

attention and ending with appreciation for a job well done.- Develop effective staffing plans supporting the organizational strategies by

allowing to fill job openings proactively (in terms of number and the quality of

the workforce for the short and long term) VIP in case of internationaloperations.( if the company is multinational)


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i. Internal Factor Analysis Summary IFASEXTERNAL FACTORS WEIGHT RATING

WEIGHTEDSCORE

COMMENTS

WEAKNESSES

Decline in film industry 0.1 4 0.4 Needs to be developedDecline in theme parkattendance 0.05 2 0.1 Needs more marketing efforts

Financial performance 0.15 4 0.6 May lead to great losses

STRENGTHS

Copyright protection 0.2 4 0.8 Strong Competitive advantage

Products diversification 0.2 4 0.8 More attractive

Information system 0.1 4 0.4 Strong communications

Strong brand name andreputation 0.1 4 0.4 High Loyalty

Human resourcemanagement 0.1 5 0.5 Successful services

TOTAL SCORES 1 4 ABOVEAVERAGE

ii. Segmental Analysis:Ratio Analysis (Profitability Liquidity Leverage activity)

iii. Competitor analysis:In relation to macroeconomic factors (focus on competitor's strengths which are yourweaknesses)

iv. Customer analysis:


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V. SOWT analysisFIGURE-7: STRENGTHS AND WEAKNESSES ANALYSIS

MARKETING FACTORS

1. Relative market share

2. Reputation

3. Previous performance

4. Competitive stance

5. Customer base

6. Customer loyalty

7. Breadth of product range

8. Depth of product range

9. Product quality

10. Program of productmodification

11. New product program

12. Distribution Costs

13. Dealer network

14. Dealer loyalty

15. Geographical coverage

16. Sales force

17. After sales service

18. Manufacturing costs

19. Manufacturing flexibility

20. Raw material advantage

21. Pricing

22. Advertising

23. Unique selling propositions

24. Structure of competition

FINANCIAL FACTORS

25. Cost of capital

26. Availability of capital

27. Profitability

28. Financial stability

29. Margins

MANUFACTURING FACTORS

30. Production facilities

31. Economies of scale

32. Flexibility

33. Workforce

34. Technical skill

35. Delivery capabilities

36. Supplier sourcing flexibility

ORGANIZATIONAL FACTORS

37. Culture

STRENGTHS

& WEAKNESSES

PERFORMANCE IMPORTANCE

Fundamentalstrength

Marginalstrength

NeutralMarginal

weaknessFundamental

weaknessHigh Medium Low


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OVERALL -MBACOMP GUIDE.DOC PAGE 19 OF 49

38. Leadership

39. Managerial capabilities

40. Workforce

41. Flexibility

42. Adaptability

Figure-3 The m ethods for d eveloping a sustainable competitive advantage canbe divided into three m ain groups:

1. ORGANIZATIONAL ADVANTAGES Economies of scope and/or scale Flexibility

Competitive position Size Speed of response Past performance Financial strengths Patterns of ownership Reputation

2. DEPARTMENTAL AND FUNCTIONAL ADVANTAGES MARKETING

Customer base Customer knowledge New product skills Pricing Communication and advertising Distribution Sales force Service support Reputation

RESEARCH AND DEVELOPMENT Product technology Patents

PRODUCTION Technology Process efficiency Economies of scale Experience Product quality Manufacturing flexibility

PERSONNEL Good managementworker relations Workforce flexibility


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3. ADVANTAGES BASED ON RELATIONSHIPS WITH EXTERNAL BODIES Customer loyalty Channel control Preferential political and legislative treatment Government assistance Beneficial tariff and non-tariff trade barriers Cartels Intra-organizational relationships Access to preferential and flexible financial resources

VI.TOWS MatrixThe TOWS matrix, which while making use of the same inputs (Threats, Opportunities, Weaknesses and Strengths), reorganizes them and integrates them more fully into thestrategic planning process. To do this involves the seven steps that are illustrated in Figure-9. The TOWS matrix is then illustrated in Figure-10.


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An example of how Daimler-Benz used the TOWS matrix in its Mercedes cars division isillustrated in Figure-11.

FIGURE 21 4 TOWS ANALYSIS FORDAIMLER-B ENZS MERCEDES-B ENZ CAR DIVISION1990

STRATEGIES

TACTICS

ACTIONS

INTERNAL STRENGTHS

1. Cash position

2. Luxury car image

3. New car models

4. Location dose tosuppliers

5. Engineering andtechnology

INTERNAL WEAKNESSES

1. High costs

2. Venturing into unrelatedbusinesses

3. Organizational diversity

4. Reliance on pastsuccesses andbureaucracy

5. Long cycle for new modeldevelopment

6. Relatively weak positionin Japan

EXTERNAL OP PORTUNITIES

1. Demand for luxury cars

2. Eastern Europe, especiallyEast Germany

3. Prosperity through EC1992

4. Electronics technology

S-0 STRATEGY

1. Develop new models(using high-tech) andcharge premiumprices

2. Use financialresources to acquireother companies orincreased productioncapacity

W-0 STRATEGY

1. Reduce costs throughautomation and flexiblemanufacturing

2. Manufacture parts inEastern Europe

3. Reorganizations

4. Daimler-Benzmanagement holdingcompanies


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EXTERNAL THREATS

5. Decrease in defense needsbecause of easing of EastWest tensions

6. BMW, Volvo, Jaguar, Lexus,Infinity in Europe

7. BMW in Japan

8. Diesel emissions

9. Renault/Volvo cooperation

10.Political instability in SouthAfrica

S-T STRATEGY

1. Transform defensesector to consumersector

2. Develop new modelsto compete especiallyin Europe

W-T STRATEGY

1. Retrench in South Africa

2. Form strategic alliancewith Mitsubishi topenetrate the Japanesemarket

ASUMMARY OFKEYFINANCIALRATIOS

RATIO HOW CALCULATED WHAT IT MEASURES

Liquidity Ratios

Current RatioCurrent assets The extent to which a firm can meet its

short-term obligationsCurrent liabilities

Quick RatioCurrent assets minus inventory The extent to which a firm can meet its

short-term obligations without relyingupon the sale of its inventoriesCurrent liabilities

Leverage Ratios

Debt-to-Total-Assets Ratio

Total assets The percentage of total funds that areprovided by creditorsTotal Debt

Debt-to-Equity

Ratio

Total debt The percentage of total funds provided

by creditors versus by ownersTotal stockholders equity

Long-TermDebt-to-Equity

Ratio

Long-term debt The balance between debt and equity ina firms long-term capital structure

Total stockholders equity

Times-Interest-

Earned Ratio

Profits before interest and taxes The extent to which earnings candecline without the firm becoming

unable to meet its annual interest costsTotal interest charges

Activity Ratios

InventoryTurnover

SalesWhether a firm holds excessive stocks

of inventories and whether a firm isselling its inventories slowly compared

to the industry average.Inventory of finished goods

Fixed Assets Sales Sales productivity and plant and


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Turnover Fixed Asset Fixed assets equipment utilization

Total Assets

Turnover

Sales Whether a firm is generating asufficient volume of business for the size

of its asset investmentTotal Assets

Accounts

ReceivableTurnover

Annual credit sales The average length of time ittakes a

firm to collect credit sales (in percentageterms)Accounts receivable

Average

CollectionPeriod

Accounts receivableThe average length of time ittakes afirm to collect on credit sales (in days)Total credit sales/365 days

Growth Ratios

SalesAnnual percentage growth in totalsales

Firms growth rate in sales

Net Income Annual percentage growth in profits Firms growth rate in profits

Earnings Per

Share Annual percentage growth in EPS Firms growth rate in EPS

Dividends Per

Share

Annual percentage growth in

dividends per share

Firms growth rate in dividends per

share

RATIO HOW CALCULATED WHAT IT MEASURES

ProfitabilityRatios

Gross Profit

Margin

Sales minus cost of goods sold The total margin available to cover

operating expenses and yield a profitSales

Operating

Profit Margin

Earnings before interest and

taxes (EBIT)Profitability without concern for taxesand interest

Sales

Net ProfitMargin

Net income After-tax profits per dollar of sales

Sales

Return on

Total Assets(ROA)

Net income After-tax profits per dollar of assets; this

ratio is also called return on investment(ROT)Total assets

Return on

StockholdersEquity (ROE)

Net incomeAfter-tax profits per dollar of

stockholders investment in the firmTotal stockholders equity

Earnings PerShare (EPS)

Net income Earnings available to the owners ofcommon stockNumber of shares of common

stock outstanding

Price-earningsRatio

Market price per shareAttractiveness of firm on equity markets

Earnings per share


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I.Mission It is clearly set at beginning but may change to take advantage of a new opportunity

or to respond to new environmental condition

It is a written form to share and communicate it with managers, employees andcustomers and if it is clear, it provides a shared sense pf purpose, direction andopportunity even for geographically dispersed employees

Characters of a good mission statement

1- Focus on limited goals2- Stress on major policies and values

3- Define major competitive scope of operations

The Strategic Breakthrou gh Model

Companies often find themselves in a stalemated situation where it appears that they cannotreach their projected sales goals. Consider the situation illustrated in Exhibit 35. Thecompany has set a high sales goal to be reached by the fifth year.

It has projected the various sources of sales over the five-year period.


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1. Its current products in its current markets (given the same market share) supply thebase level, which grows for a while and then-declines because of the product life cycle.

2. Sales would be higher if the company could increase its market share. More sales cancome from introducing the companys current products into new markers(geographical and segmental).

3. Additional sates will come from launching new products.

4. Finally, the company could acquire new companies or brands.

Yet all those strategy additions may not add up to managements desired sales performancegoal. Either the company will have to reduce its sales (and profit) goal or find breakthroughideas to fill the remaining strategic gap.

That was the situation facing jack Welch, CEO of general Electric, some years ago. Itappeared that GE would not be able to reach its five-year sales and profit goals. At that point, Welch asked each GE division to find one or two breakthrough ideas that wouldsignificantly raise the businesses sales and profit performance. He wanted more than

improvement thinking; he wanted breakthrough thinking.The strategic breakthrough model worked as follows, GE Medical Systems scheduled an all-day breakthrough session involving twenty senior managers. The twenty managers formedfour teams, each with a different mandate. The respective team mandates were:

Find new customers and segments

Find new sales strategies

Find new pricing and equipment financing solutions

Find new product features


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II. Mar ket segmen tation, Targeting andPositioning

DEVELOPINGVALUE PROPOSITION

1.

Choose a broad poisoning for the product2. Choose a specific poisoning for the product

3. Choose a value poisoning for the product

4. Develop the total value proposition for the product

1. CHOOSING ABROAD POSITIONINGMichael Treacy proposed a three-way framework, which they called VALUE DISCIPLINES. Within its industry, a firm could be the PRODUCT LEADER, the OPERATIONALLY EXCELLENTFIRM, or the CUSTOMER INTIMATE FIRM.

This framework is based on the notion that in every market there are three types of

customers:

Some customers favor the firm that is advancing the technological frontier (productleadership).

Another customer group does not need the latest products but wants highly reliableand dependable performance (operational excellence).

A final customer group prefers the firm that is most responsive and flexible inmeeting their individual needs (customer intimacy).

VALUE DISCIPLINES

OPERATIONALEXCELLENCE PRODUCTLEADERSHIP CUSTOMERINTIMANCY

CORE BUSINESSPROCESSES

THAT.

Sharpen distributionsystems and provide nohassle service

Nurture ideas, translatethem into products, andmarket them skilfully

Provide solutions andhelp customers runtheir businesses

STRUCTURE

THAT.

Has strong, central

authority and a finitelevel of empowerment

Acts in an ad hoc,

organic, Loosely knit,and ever-changing way

Pushes empowerment

close to customercontact

MANAGEMENTSYSTEM THAT.

Maintain standardoperating procedures

Reward individualsinnovative capacity andnew product success

Measure the cost ofproviding service and ofmaintaining customerloyalty

CULTURETHAT

Acts predictably andbelieves one size fits all

Experiments and thinksout-of-the-box

Is flexible and thinkshave it your way

Treacy and Wiersema observed that it is difficult for a firm to be best in all three ways, oreven in two ways. Most firms do not have sufficient funds to be best at everything.


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Furthermore, the three value disciplines require different managerial systems and attitudesthat often conflict.

The authors suggest, however, that business units within the same company can eachpractice a different value discipline.

Treacy and Wiersema propose that a business should follow four rules for success:

1. Become best at one of the three value disciplines.

2. Achieve an adequate performance level in the other two disciplines.

3. Keep improving ones superior position in the chosen discipline so as not to lose outto a competitor.

4. Keep becoming more adequate in the other two disciplines, since competitors keepraising customers expectations about what is adequate.

Broad positioning frameworks provide a useful starting point for positioning. However, theyconceal a wealth of other positioning possibilities.

2.CHOOSING ASPECIFIC POSITIONINGCompanies need to go beyond a broad positioning to express a more concrete benefit andreason to buy. Many companies advertise a single major benefit positioning, drawing fromsuch possibilities as:

SPECIFIC POSITIONING: Best quality

Best performance

Most reliable

Most durable

Safest

Fastest

Best value for the money

Least expensive

Most prestigious

Best designed or styled

Easiest to use

Most convenient

Volvos case is interesting in that Volvo recognized that in every country of the world, somecar buyers make safety their highest priority. In discovering this global niche, Volvo is able tosell its cars all over the world. Volvo has added a SECOND BENEFIT POSITIONING of theirautomobile, namely the claim that it is one of the most durable cars. They use that secondpositioning in countries like Mexico, where the buyer is concerned more with buying a ling-lasting car than with safety.

Some companies even practice TRIPLEBENEFIT POSITIONING. Smith Kline Beecham promotes

its Aqua-Fresh toothpaste as offering three benefits: anti-cavity protection, better breath,and whiter teeth. The toothpaste exudes from the tube in three colors, each suggesting and

Thus in the automobile market, Mercedes owns themost prestigious position; BMW owns the best

(driving) performance position; Hyundai owns theleast expensive position; and Volvo owns the

safest position.


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delivering a different benefit. Beecham wants its Aqua-Fresh brand to COUNTERSEGMENTthat is, to attract three segments instead of one.

In searching for a specific positioning, the business unit should consider the followingpossible sources:

ATTRIBUTE POSITIONING: The Company positions itself on some attribute or feature. Ahotel describes itself as the citys tallesthotel. Positioning by feature is normally a weakchoice since no benefit is explicitly claimed.

BENEFIT POSITIONING: The product promises a benefit. Tide claims that it cleans better.

USE/APPLICATION POSITIONING: The product is positioned as the best in a certainapplication. Nike might describe one of its shoes as the best to wear for racing andanother as the best to wear for playing basketball.

USER POSITIONING: The product is positioned in terms of a target user group, AppleComputer describes its computers and software as the best for graphic designers.

COMPETITOR POSITIONING: The product suggests its superiority or difference from acompetitors product. Avis described itself as a company that tries harder (than Hertz,by implication); 7 UP called itself the Uncola,

CATEGORY POSITIONING: The Company may describe itself as the category leader, Xeroxmeans copy machines.

QUALITY/PRICE POSITIONING: The product is positioned at a certain quality and pricelevel. Taco Bell represents its tacos as giving the most value for the money.

Companies must avoid the following errors in positioning their brand:

UNDER-POSIRIONING: Failing to present a strong central benefit or reason to buy thisbrand

OVER-POSIRIONING: Adopting such a narrow positioning that some potential customersmay overlook the brand

CONFUSED POSITIONING: Claiming two or more benefits that contradict each other.

IRRELEVANT POSITIONING: Claiming a benefit which few prospects care about

DOUBTFUL POSITIONING: Claiming a benefit that people will doubt the brand or companycan actually deliver

3.CHOOSING AVALUE POSITIONINGWe have discussed the selection of one or more specific benefits that the brand will advertise,without mentioning anything about how the brand will be priced. But buyers think in termsof value for the money: what they get for what they pay. The seller must value-position thebrand. We can distinguish five value positions.

MORE FORMORE

Companies can always be found that specialize in making the most upscale version of theproduct and charging a high price to cover their higher costs. Called luxury goods, suchproducts claim to be better in quality, craftsmanship, durability, performance, or style.

Examples include Mercedes automobiles, Mont Blanc writing instruments, and Gucciapparel.


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The product is not only fine in itself; it is delivering prestige to the buyer. Often the price farexceeds the actual increment of quality.

One can find very expensive restaurants, hotels, coffees, brandies, and so on. One issurprised occasionally at the entry of a new competitor who sets an unusually high price.Haagen-Dazs came in as a premium ice cream brand at a price never before charged for ice

cream; Starbucks came in as an expensive coffee where coffee could always be had for muchless; some Cuban cigar brands command an unbelievably high price, in general, a companyshould be alert to the possibility of introducing a much more for much more brand in anyunderdeveloped product or service category.

Yet more-for-more brands are vulnerable: They often invite imitators who claim the samequality but are priced lower. And luxury goods are at risk during economic downturns whenbuyers become more cautious in their spending.

MORE FOR THE SAME

Companies have been able to attack a more for more brand by introducing a brand

claiming comparable quality and performance but priced much lower . The Toyotacompany introduced its new Lexus automobile with more for the same value positioning.

Lexus advertising shows the Mercedes and Lexus side by side and the superior qualities ofthe Lexus; and through evidence that Lexus dealerships were providing a better buyingexperience than Mercedes dealerships. Mercedes car owners in many American cities endedtip making their next car purchase a Lexus. Since that time the Lexus repurchase rate hasbeen 60 percent twice that of the average car brand repurchase rate.

THE SAME FORLESS

It seems that everyone is happy when they can buy a typical product or brand at less than thenormal price. EverythingArrow shirts, Goodyear tires, Panasonic TV setsseems to beavailable at a lower price at some store or discount shop.

Discount stores dont claim to have superior products, but they can offer ordinary brands atdeep savings, based on superior purchasing power.

LESS FORMUCH LESS

Some people complain that some manufacturers or service providers provide more than theyrequire but they still have to pay the higher price. One cannot say to a hotel, take out the TVset and charge me less, or tell an airline, skip the food and charge me less.

Therefore sellers have an opportunity to enter a market with a less for much less offering.There is a hotel in Tokyo that rents not a room but a berth for substantially less than thenormal hotel price. Southwest Airlines, the most profitable U.S. air carrier, charges muchless by not serving food, not assigning seats, not using travel agents, and not transferringluggage to other carriers.

MORE FORLESS

Of course, the winning value positioning would be to offer prospects and customers more forless. This is the attraction of highly successful categorykiller stores. Sportmart offers the

largest selection of sports equipment and sports clothing for the lowest prices. Massmerchandisers make a similar claim: walking into a Wal-Mart store, one meets a friendly


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greeter, sees a whole array of attractively laid-out, well-known branded goods, finds everydaylow prices, and generous return policies, and leaves thinking of Wal-Mart as a place where heor she can get more for less.

III. Strategic Formulation1.


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Anso wf's Matr ix: (COMPANY'S GROW TH PATH TO BUILD DEMAND)

MARKET

PRODUCTS

Existing Modified New

Existing Sell more of our existingproducts to our existingtypes of customers. (Marketpenetration)

Modify our currentproducts and sell moreof them to our existingcustomers. (Productmodification)

Design new products thatwill appeal to our existingcustomers. (New productdevelopment)

MarketsModified

Enter and sell our productsin other geographical areas.(Geographical expansion)

Offer and sell modifiedproducts to newgeographical markets.

Design new products forprospects in newgeographic areas.

New Sell our existing products tonew types of customers.(Segment invasion)

Offer and sell modifiedproducts to new typesof customers.

Design new products tosell to new types ofcustomers.(Diversification)

OTHER2 OPTIONS REGARDINGANSOWF'S:1. Innovating delivery system (Email, Telephone)

2. Invading new market spaces (alliances, joint ventures)

3.Military strategies


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PRINCIPLES OF DEFENSIVE MARKETING WA RFARE

1. Only the market leader should consider playing defence.

2. The best defensive strategy is the courage to attack.

3. Strong competitive moves should always be blocked.

DEFENSIVE STRATEGIES:FOR MARK ET LEADER

A) Position defence: of the current market (weakest way)

B) Mobile defence: market broadening, diversification into unrelated industries.

C) Flanking defence: Don't ignore secondary markets

D) Contraction defence: withdraw from segments &/or geographical regions which are

most vulnerableE) Pre-emptive defence: Striking first by first gathering information about the

competitors and capitalizing on competitive advantage

F) Counter offensive attack: response after the attack by:

Attack head on

Attacker's flank

Pincer movement

PRINCIPLES OF OFFENSIVE MARKETING WARFAR E

1. The main consideration is the strength of the leaders position2. Find weakness in the leaders strength and attack at that point.

3. Launch the attack on as narrow a front as possible.

OFFENSIVE STRATEGIES: FOR MARKET CHALLENGER

A) Frontal attacks: matching competitors in everything (should have superior resources& willing to persevere.

B) Flank attack: attack part of the market where the competitor is weak

C) Bypass attack: offer new type of product that makes the competitors productunnecessary

D) Encirclement: Encircles the competitor's position in terms of products or markets orboth.

E) Guerrilla warfare: "Hit & Run", small intermittent assaults on different marketsegments (think of exit strategies)

PRINCIPLES OF FLANKING MARKETING WARFARE


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1. A good flanking move must be made into an uncontested area.

2. Tactical surprise ought to be an important element of the plan.

3. The pursuit is as critical as the attack itself.

PRINCIPLES OF GUERRILLA MARKETING WARFAR E

1. Find a segment of the market small enough to defend.

2. No matter how successful you become, never act like the leader.

3. Be prepared to bugout at a moments notice.


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A- Pr odu ct & Ser vice Strategy:

USING THE CONSUMPTION CHAIN TO FIND NEW OPPORTUNITIES (FOR B2C)

1. How do people become aware of their need for your products or service?

2.

How do consumers find your offering?3. How do consumers make their final selections?

4. How do consumers order and purchase your product or service?

5. How is your product or service delivered?

6. What happens when your product or service is delivered?

7. How is your product installed?

8. How is your product or service paid for?

9. How is your product stored?

10.How is your product moved around?

11.What is the customer really using your product for?

12.What do customers need help with when they use your product?13.What about returns or exchanges?

14.How is your product repaired or serviced?

15.What happens when your product is disposed of or no longer used?

FAITH POPCORN S TEN LIFESTYLE TRENDS

Cashing Out: slower but more rewarding paces for those who have worked hard then theyseek relaxation and leisure time so they would be an ideal target for products like music,books and travel packages

Cocooning: Those who want the out-door enjoyment inside willing to pay a premium for that

they would be an ideal target for products like home theaters for example


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Down-Aging: Tendency to feel younger than ones age

Egonomics: Treated differently from others

Fantasy Adventure: Meets people needs to offset their daily routine

99 Lives: Juggle many roles and responsibilities

S.O.S: Make society more socially responsible along the three critical Es: Environment,Education, and Ethics

Small Indulgences: Stressed out consumers need occasional emotional fixes

Staying Alive: Peoples drive to live longer and better lives

The Vigilante Consumer : Those who claim their rights

Product modification Strategies


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CONSUMER ACTIVITY CYCLE (FO RB2B)

CCC and CAC are being used:

Improve the product strategy by knowing to what extent the product fits the targetsegment

Come up with better product ideas

C- Pr ice:

VALUE PRICING USING CONJOINTANALYSIS

Popular marketing research technique.

Determine features and pricing.

Less expensive than concept testing.

Easy to understand; Difficult to master.

Apply to service product development and pricing.


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C- Prom otion:

ADVERTISING SALES PROMOTION PUBLIC RELATIONS SALES FORCE

Print & broadcast ads Contests, games Press kits Sales presentations

Packaging-outer Stakes, lotteries Speeches Sales meetings

Packaging inserts Premiums and gifts Seminars Incentive programs

Motion pictures Sampling Annual reports Samples

Brochures & booklets Fairs and trade shows Charitable donations Fairs and trade shows

Posters and leaflets Exhibits Sponsorships

Directories Demonstrations Publications DIRECT MARKETING

Reprints of ads Coupons Community relations Catalogs

Billboards Rebates Lobbying Mailings

Display signs Low-interest financing Identity media Telemarketing

Point-of-purchase Entertainment Company magazine Electronic shopping

Displays Trade-in-allowances Events TV shopping

Audio-visual material Continuity programs Fax mail

Symbols and logos Tie-ins E-mail

Videotapes

ADVERTISING 5M MODEL

Mission

Message

Media

Money

Measurement

ADVERTISING OBJECTIVES AIDA MODEL

Awareness

Interest

Desire

Action

PUBLIC RELATIONS

P = Publications

E = Events

N = News

C = Community

I = Identity Media

L = Lobbying Activity

S = Social Responsibility


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D- Distribution & P lace:

DISTRIBUTION DECISIONS

Channels Coverage

Assortments

Locations

Inventory

Transport

DISTRIBUTION DECISIONS CRITERIA FORPROPERCHANNEL STRUCTURING

Cost

Capital

Coverage

Control

Continuity

Character

WHATWORK IS PERFORMED BYMARKETING CHANNELS?

1. Many producers lack the financial resources to carry out direct marketing

2. In some cases direct marketing simply is not feasible

3. Producers who do establish their own channels can often earn a greater return byincreasing their investment in their main business

CHANNEL FUNCTIONS AND FLOWS

a. Key Functions

i. Gather information about potential and current customers,competitors, and others

ii. Develop and disseminate persuasive communications to stimulatepurchasing

iii. Reach agreements on price and other terms so that transfer ofownership or possession can be effected

iv. Place orders with manufacturers

v.

Acquire funds to finance inventories at different levels in themarketing channel

vi. Assume risk connected with carrying out channel work

vii. Provide for the successive storage and movement of physical products

viii. Provide for buyers payment of their bills through banks and otherfinancial institutions

ix. Oversee actual transfer of ownership from one organization or personto another

CHANNEL-DESIGN DECISIONS

Push strategy

Pull strategy


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DESIGNING A CHANNEL SY STEM INVOLVES FOUR STEPS

Analyzing customer needs

Establishing channel objectives

Identifying major channel alternatives

Evaluating major channel alternatives


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COMPA NY X STRUCTURE

The organization is the process of arranging people and other resources to work together toaccomplish a goal and as a result of the company strategy the organization structure must beadjusted to cope with the new strategy and achieve its goals.

The organization's strategy to grow and go more international must be reflected on theorganization structure to achieve the required result.

SIMPLE STRUCTURE:

Owner-manager makes decisions.

Little specialization of tasks.

Few rules, little formalization.

ADVANTAGES:

Provides high flexibility

Rapid product introduction

Few coordination problems

FUNCTIONAL STRUCTURE:

The company rather being lead by an entrepreneur, he is replaced by as team of managers who have functional specializations. The entrepreneur must learn now to delegate hisresponsibilities; otherwise, the new structure will yield no benefit

ADVANTAGES

Centralized control of operations

Promotes in-depth functional expertise

Enhances operating efficiency where tasks are routine

DISADVANTAGES

Functional coordination problems

Inter-functional rivalry

Overspecialization and narrow viewpoints

Hinders development of cross-functional experience

Slower to respond in turbulent environments


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DIVISIONAL STRUCTURE:

It occurs especially when the organization is managing diverse product line or when theorganization is expanding to cover wider geographical areas

ADVANTAGES:

Decentralized decision making

Each business is organized around products

Puts profit/loss accountability on manager

Facilitates rapid response to environmental changes

Allows efficient management of a large number of units

DISADVANTAGES

May lead to costly duplication of functions

Inter-divisional rivalry

Corporate managers may lose in-depth understanding

MATRIX STRUCTURE

The matrix structure (some times called the matrix organization) it combines the functionaland divisional structure. It is designed to gain the advantage and minimize the disadvantagesof the functional and divisional structures.

The matrix is formed by using permanent cross functional teams to integrate functionalexpertise in support of a clear divisional focus on project, product or program.

The matrix structure in the multinational organizations offers a flexibility to deal with theregional differences as well as the multi products, programs or regional needs.

The matrix structure is the common solution for the organizations that pursues the growthstrategies in a dynamic and complex environment


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Functional & product form are combined simultaneously at the same level.

Employee have 2 superior, functional superior & horizontal product manager

WHEN TO USE?

Scarce resources

Ideas need to be cross fertilized across projects

External environment is very complex and changeable

3. DISTINCT PHASE EXIST IN THE DEVELOPMENTOF MATRIX STRUCTURE

1. TEMPORARY CROSS FUNCTIONAL TASK FORCES: Project manager is in charge as the keyhorizontal link

2. PRODUCT OR BRAND M ANAGEMENT: The functional is still the primary organizationalstructure, product manager act as integrator of semi permanent product or brand.

3. MATURE MATRIX : A true dual authority structure, functional & product structure arepermanent

NETWORK STRUCTURE

many activities are outsource

series of independent firms or business units that are linked together bycomputers in an IS

Used when the environment is unstable

Nike, Reebok, Benetton use the network structure on there operation functions bysubcontracting manufacturing to other companies in low cost location around the world.

ADVANTAGES:

Rapid response time


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Firms emphasize their own core competencies

Very flexible

Reduces capital intensity

Leader ship Style

The founder (SA) at this point is following a telling leadership style, which is characterizedby giving a specific task directions and closely supervising tasks. At this point of time andaccording to the current circumstances the leadership style must be adapted to match thenear future circumstances.

According tobehavioural appr oach , there are four styles:

5. LAISSEZ-FAIRE shows low concern for both people and task. Turn most decisions overthe work group and show less interest in the work process or its results.

6. DIRECTIVE ORAUTOCRATIC, High concern for task and low concern for people. Make

most of the decisions, gives directions and expect his orders to be followed.7. SUPPORTIVE OR HUMAN RELATIONS LEADER shows high concern for people and low

concern for tasks. Warm in interpersonal relationships, avoid conflict, and seekharmony in decision-making.

8. P ARTICIPATIVE OR DEMOCRATIC, shows high concern for both people and task. Sharedecisions with the work group, encourage participation and support the work effortsof others.

COMPA NY -X- CULTURE "The company way"

It is the collection of beliefs, expectations and values learned, shared by a corporation'smembers, and transferred from one generation of employees to another. It might bechanging or elaborating but hardly completely fades away. It gives the corporation itsidentity.

REGARDING HUMAN RESOURCE MANAGEMENT

Human resource management is one of the most important key success factors inorganization, which is not totally implemented in Egypt, and its improvement will greatlyimprove the organization performance

2. HUMAN RESOURCE OBJECTIVESThe human resource objective reflects the intention of the senior management (strategy)with a balance to the related topics such as HR functions, society, governing rules, etc.

There are four major objectives for the Human resource management;

5. ORGANIZATIONAL OBJECTIVES: to achieve the required organization effectiveness andobjectives and ensure that the organization always has people with the right abilitiesavailable to do the right work

6. FUNCTIONAL OBJECTIVES : maintain the departments contribution at a level

appropriate to the org. needs


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7. SOCIETAL OBJECTIVE : respond ethically and socially to the challenges of theenvironment while minimizing the negative impact of such demands on theorganizations

8. PERSONAL OB JECTIVES: to assist retain and motivate the employees for achieving theirpersonal goals and guide them to better achievement (most important )

3. HUMAN RESOURCE STRATEGY:The human resource Strategy addresses the issue of whether to recruit a low skill, low paid,high turnover employees or higher a high skill, high paid, low turnover employees. Theorganization policy to go international must be a highly paid high skill, low turn overemployees to improve creativity of the employees and the turnover must be kept at itsminimum levels.

4. HUMAN RESOURCE POLICIES AND PROGRAMS PREPARATION AND SELECTION: Review of the employees' job description, job specification

and job performance standard to match the change of the organization.

SUCCESSION PLANNING: the preparation of the company succession plan will enable theorganization to stand any future challenges.

CAREER P ATH AND DEVELOPMENT: the preparation of the career path for the employeeswill help the stability and minimize the turnover of the employees.

RECRUITMENT: designing a good recruitment process (Selection, interviews) with a highlevel of orientation to ensure the compatibility of the new recruited employees with theexisting culture to achieve organizational objectives.

TRAINING AND DEVELOPMENT: on-the- job training, Off-the-Job training and Providecareer planning assistance for employees.

INCENTIVE SYSTEM will ensure the motivation of the employees to better performance(linking incentive to production)

COMPENSATION POLICIES AND PROTECTION: What employees get in exchange for theircontribution to the organization maintains, retain productive workforce, achieve theorg. objectives.

TESTING: Will ensure the qualification of the candidates and their fit in the organization

culture.

MANAGING W ORKFORCE DIVERSITY( if the organization is going internationally)

ENHANCE EMPLOYEE PARTICIPATION: in implementing our strategy, all employees fromdifferent organizational levels must make a meaningful contribution in decision-making.this will increase employee's involvement and enhance their working life balance.

ENHANCE EMPLOYEE ORGANIZATIONAL COMMITMENT:by increasing job involvement, whichresults in lower levels of absenteeism and turnover.

IMPLEMENTING EMPLOY EE RECOGNITION PROGRAM S: starting with personal attention and

ending with appreciation for a job well done.


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DEVELOP EFFECTIVE STAFFING PLANS supporting the organizational strategies by allowingto fill job openings proactively (in terms of number and the quality of the workforce forthe short and long term) VIP in case of international operations.( if the company ismultinational)

GE Evaluation Criteria

Alternative strategies should be evaluated based on their impact on the following:

1. Financial Results

2. Market Position

3. Productivity

4. Product leadership5. Employee Attitude

6. Personnel Development

7. Community Impact

8. S/T vs L/T


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GE Evaluation Criteria


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BALANCED SCORE CARD


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FM

HR = Training = Virtual University for im ployees eg IPSOS

Marketing = MR

overall - mba comp guide

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