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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Reach us at +44 1344 961530 or info@pentagonit.co.uk for more information.

About Kingston upon Hull

Kingston upon Hull also known as Hull is a city and unitary authority located in East Riding of Yorkshire, England. It is situated on River Hull, 40 km inland from the North Sea and has a population of 260,220. In the 12^th century, this town was discovered. Monks of Meaux Abbey required a port from wool from estates could be exported. These monks choose a place at the confluence of River Humber and Hull to construct quay.

Year in which this town was discovered is not yet known, but it was first mentioned in 1193. It was renamed Kings-town-upon Hull by King Edward 1 in 1299. Hull has been a military support port, market town, whaling and fishing centre and industrial metropolis. In English Civil Wars, Hull was an early theatre of battle. William Wilberforce took a significant part in the abolition of slave trade done in Britain.

From 1902, the city is unique in the United Kingdom has had a municipally owned telephone system. After facing massive damage during Second World War. At the beginning of 21^st century, after facing recession in the late 2000s, the city saw a large amount of new commercial, retail, public and housing service construction spending.

Tourist attractions of Kingston Upon Hull include Museum Quarter, Old Town, The Deep, Hull Marina that is a city landmark. Redevelopment of Ferensway, include the opening of St Stephen’ Hull and new Hull Truck Theatre. Sports in Kingston Upon Hull include Football and Rugby. KCOM study houses Hull City football club and Hull FC rugby league club. Hull is home to English Premier Ice Hockey League Hull Pirates.

The University of Hull was discovered in 1927, and now It has more than 16000 students. It is ranked as the best university in the Yorkshire and Humber region, and it is located in Newland suburb that is in the north-west of the city.

In 2013, it was announced that Hull would be 2017 UK City of Culture.

In 2015, it was announced that Ferens Art Gallery would host prestigious annual art prize called the Turner Prize in 2017. After this, the prize was held outside London every year.

History

The population of Hull in 1901 was 239,000, and it continued to increase. City Hall was built in 1909 and Guildhall in 1916. During 20^th century facilities in Hull improved. In the 1920s and 1930s, slum clearance started in the centre of Hull. Many new council houses were built on West, North and East of the city. At the beginning of 20^th-century various houses in Hull didn’t have flushing facility. In 1929, fences of Hull were extended to include part of Anlaby and Sutton. Queens’s gardens were laid out on a site filled in the dock. Hull suffered depression in the 1930s, and many Dockers got unemployed, similarly in the shipbuilding industry. In 1954, Hull University was founded. In 2001 an aquarium called The Deep was opened in Hull. Later at the beginning of 21^st century, various parts of Hull were regenerated. Fish Market of Hull was closed in 2011. In 2017 Hull became UK City of Culture. Now the population of Hull is 258,000.