The blue ocean strategy
Take a moment to think back to your childhood. If we say the word “circus,” what comes to mind? For most people, it’s a vision of elephants, clowns, and acrobats; sawdust on the floor; and vendors hawking cotton candy and popcorn during the show. If you love the circus and want to create a company to compete in that space, Ringling Bros. is pretty stiff competition — it’s the 800-pound gorilla in the market!
But what if you strategy that the competition isn’t important — that there must be some space out there in which Ringling Bros. doesn’t compete. In other words, you want to find customers it doesn’t serve — a clear blue ocean of “uncontested market space.” Continue reading “The blue ocean strategy” »
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Competitive Advantage
Explains the concept of competitive advantage, using a diagram to illustrate how distinctive competencies and positional advantages create superior value.
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SWOT Analysis
The role of SWOT analysis (strengths, weaknesses, opportunities, and threats) in strategic planning, including an overview of the TOWS matrix.
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PEST Analysis
How a PEST analysis fits into the environmental scan. Provides some examples of the political, economic, social, and technological factors of the external macroenvironment.
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Hierarchical Levels of Strategy
Describes the role of strategy at the corporate level, business unit level, and functional or department level of the firm.
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The Business Vision and Company Mission Statement
Uses a framework proposed by Collins and Porras to describe three components of business vision including core values, core purpose, and visionary goals.
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The Strategic Planning Process
An overview of the strategic planning process including mission statement, environmental scan, strategy formulation, implementation, and control.
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