Seminario de Negocios
Chapter 1: What is strategy and why is it important?
* Managers face three central questions in evaluating theircompany’s Business prospects: what’s the company’s present situation?, where does the company need to go from here?, how should it get there?
* A company’s strategy consists of the competitive movesand Business approaches that managers are employing to grow the Business, attract and please customers, compete successfully, conduct operations, and achieve targeted levels of organizationsperformance.
* A company’s strategy is all about how: how Management intends to grow the Business, how it will Guild a loyal clientele and outcompete rivals, how each functional piece of the Business willbe operated, how performance will be boosted.
* What make a competitive advantage sustainable as opposed to temporary actions and elements in the strategy that cause an attractive number of buyersto have lasting preference for a company’s product o services.
* Four of the most frequently used and dependable strategic approaches to setting a company apart form rivals. 1. Striving to be theindustry’s low-cost provider, 2.creating a differentiation- based advantage keyed to such features as higher quality, wider product selection, added performance, value-added services, more attractivestyling, technological superiority, or unusually good value for the money, 3. Focusing on serving the especial needs and tastes of buyers comprising a narrow market niche, 4. Developing expertise andresource strengths that give the company competitively valuable capabilities that rivals can’t easily match, copy or trump with substitute capabilities.
* The tight connection between competitiveadvantage and profitability means that the quest for sustainable competitive advantage always ranks center stage in crafting a strategy.
* A company’s strategy is always a work in progress...