Pentagon Training | Competitive Strategy Fundamentals

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Introduction
Course Details
Course Content
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A Quick Glance

Decision making is the strongest asset of an organisation. The bad decisions will take the company towards failure. There is a need of skills that can sure the better decision-making. Competitive strategy skills are the skills that help in making strategic decisions. If you wish to make better decisions, then you should attend this course.

Successful business environments inspire our Competitive Strategy Fundamentals course. You can start by gaining the following skills that the successful business environment has:

It performs industry analysis: Business analysis is the base of any system to direct them. You should gain skills of how to analyse the market.
It interacts with outside world very well: The successful interaction is the very essential. You should acquire skills to interact with the outside world of an organisation successfully.

Who should take this course

This course is for everyone.

Prerequisites

This course has no prerequisites.

What Will You Learn

This course is proposed to acquaint you:

With the knowledge of the behaviour of organisations in different market situations
To build up strategies and maintain customer base
To know about the design of an effective organisation who can grow and compete in different

Course Overview

Competitive Strategy is well-defined as the long term plan of a specific company in demand to advance competitive advantage over its contestants in the industry. It is intended for creating a protective position in an industry and making a superior ROI (Return on Investment). The Competitive Strategy Fundamentals course is designed to provide the knowledge of market structure, industry analysis, asset mobility and oligopoly. Our instructors are well qualified and expert ones. After completing this course, you will be able to make strategic decisions in your organisation.

Course Content

An Overview of Customer Strategy

An Introduction to Customer Strategy
Significance of Customer Loyalty
Various kinds of Switching Costs
Customer Value and Switching
Describing Old Dealers and Customers
How to get new Suppliers?
Maintaining your Customer Base Asset Mobility
Oligopoly
Cournot and Bertrand
Strategic Complements and Substitutes lecture
Capacity Competition
Competition and Financial Condition

How to keep business clean?

An Introduction
Explanations for Competition Policy
Knowledge of Instruments used
Define Cartel Agreements
What are the factors Favouring Cartels?
Describing Markets and Measuring Market Power
What are the Forms of Market Forclosure?

How to increase returns?

An Introduction
Network Goods
An Overview of Network Effects I: Direct Network Effects
An Introduction to Network Effects II: Indirect Network Effects
Summary of Market Structure in Network Industries
Frugality of Scale
Diseconomies of Scale & Scope

Strategies in Network Markets

An Introduction
Achieving Critical Mass
Raising Attention and Downsizing Perceived Risks
Plans in Standardisation
Expressive the Target Market
Planned Pricing

How to get growth with partners?

An Introduction
What are Trends and Differences?
Goals for Partners and Buyers
Pre-Merger Deliberations
Merger Control
Post-Merger Mixing
Position and Differentiation
Complementarities in policies within the firm

Competitive Strategy

Competitive strategy is well-defined approach as long term plan of some particular company in the market to gain a benefit over its competitors in the industry. This type of strategies plays a major role when the industry is competitive, and consumers get almost identical products. Take an example of Mobile Phone Market.

Types of competitive strategies

Cost Leadership

In this goal of the firm is to achieve large-scale production by lowering producer cost in the industry, this helps them to attain stable economy. Some factors to achieve cost leadership are High capacity utilisation, good bargaining power and high technology implementation.

Differentiation leadership

In this strategy, firms maintain their unique features of products in the market to create a different image. With this uniqueness, firms target to achieve leadership in the market. Firms charge a high price for the products. Best quality, brand, major distribution channels and consistent promotional support are major attributes of such products.

Cost focus

In this strategy, firms focus on particular market segments and under those segments it keeps its products low priced. This strategy helps firms to satisfy their customers and gain popularity for e.g., Sonata Watches.

Differentiation focus

In this strategy, firms focus on differentiating itself from other competitors in some specific segments only. This type of differentiation is done to meet demands of the customers who restrict from purchasing products of competitors due to some small features missing. It is a clear niche marketing strategy, for example, Titan Watches. Follow this strategy to sustain even in tough times.

Examples are given below:

Cost Leadership- Micromax smartphones and mobile phones provide good quality at an affordable price that contains all features which a premium phone like Samsung or Apple offers.

Differentiation Leadership- BMW provides cars that are different from other cars of various brands. Cars of BMW are technologically advanced, better features and got personalised services.

Cost Focus- Sonata Brand Watches focus on giving watches at low cost compared to other competitors like Rolex, Omega, Titan, etc.

These three generic strategies Cost, Differentiation and focus bring various advantages to an organisation. Regarding relative cost and prices, competitive advantage can be defined. It links directly to the profit and presents a new perspective on how to generate profits. The framework of Porter’s for predicting the behaviour of competitor has transformed the way in which companies look at their competitors.

Many managers in both small and large companies throughout the world make use of Porter’s ideas and apply them to assess industries, understand the behaviour of competitors and choose competitive positions.

Competitive Strategy Fundamentals Enquiry

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About Dublin

Dublin

Dublin is the largest city and capital of Ireland. Dublin is located in Leinster province on the east coast of Ireland at River Liffey mouth. The Urban population of the Dublin is 1,345,402. The population of Greater Dublin Area according to 2016 is 1,904,806. After the Invasion, of Normans, Kingdom of Dublin became a principal city of Ireland. Dublin expanded rapidly in the 17th century and is the second largest town in British Empire. Dublin became the capital of Irish Free State after the partition of Ireland in 1922.

City council administers Dublin. It is listed by World Cities Research Network and Globalization as a global city with a ranking of Alpha. Dublin is historic and a major centre for arts, education, industry, administration and economy.

History

During 18th century, Dublin city grew more rapidly because many districts and buildings were added. Districts added was Merrion Square, Royal Exchange and Parliament House. In 1757 beginnings of City Corporation was created. In 1759, Ireland’s famous Guinness Stout was first brewed. In 1779 Grand Canal was built and in 1786 police force was established. At the end of the century, Kilmainham Goal and O Connell Bridge was built. The population was grown to 180,000 in 1800. Overpopulation brought poverty and diseases.

In 19th-century street lighting was introduced in Dublin. Dublin suffered economic as well as political decline. Things changed rapidly in the 20th century with 1916 Easter Rising. Dublin was setting for many significant events during Irish struggle for independence. In mid-1990’s economic boon in Dublin brought massive expansion and development to the city. It included the creation of Dublin’s new landmarks, Spire monument on O Connell Street. Dublin is the only largest conurbation in Ireland. In Greater Dublin Area 1.2 million people live. This area population comprises 28% of country’s total population.

The boom brought many new ethnic groups in the city and created an international feel in the north inner city.

Economy

Ireland Economic Centre is Dublin. During Celtic Tiger period in 2009, Dublin was at the forefront of country’s economic expansion. Dublin is listed as the fourth richest city in the world by power and 10th richest by personal income. It is also a 13th most expensive city in the European Union and 58th expensive place to live in the world. Around 800,000 people employed in Greater Dublin Area. Out of this population, 600,000 were employed in the service sector and 200,000 in an industrial sector.

Various traditional industries in Dublin like food processing, brewing, textile manufacturing and distilling declined. In 1990’s Dublin attracted a various global information, communications and pharmaceutical technology companies. Companies like Amazon, Google, Paypal, Microsoft, Facebook, Twitter, Accenture, Yahoo!, eBay and Pfizer now have headquarters and operational bases in Dublin. Various enterprise clusters like Silicon Docks and Digital Hub are located in this city.

After the establishment of Dublin’s International Financial Services Centre in 1987, financial services became important to Dublin. Under IFSC programme, 500 operations were approved. This centre is also host to world’s top 20 insurance companies and top 50 banks. Various international firms established their headquarters in a city like Citibank and Commerzbank. Irish Enterprise Exchange, Internet Neutral Exchange and Irish Stock Exchange are located in Dublin.