Final Exam 1.Repurposing think up new use for existing good or service develop plan enable firm to thrive questions to consider: Start-up & growth stages? Market analysis? Strategic choices? Competitors’ reactions? Durable competitive advantage?
Strategic Behaviours related to corporate “culture” not “ How do we dress? ” “ Are we a fun place to work? ” but What comes to the top of the “ to do ” list? What gets dropped? Actions speak louder than words.
Strategic Behaviours innovation behaviours commodity differentiation notice external change recognize opportunity say no to projects meet quality and delivery promises ability to understand failures
Strategic Behaviours cost-focused behaviours commodity differentiation simplify process increase productivity lay off staff cut prices
Strategic Behaviours “ arthritis ” behaviours product profit keep making the same stuff keep doing the same thing argue with the market find yourself unwilling to ask serious questions “ Let ’ s put off change until … dad retires. ” we see if this is just a blip. ”
Strategic Behaviours flexibility behaviours product profit track what makes money drop what doesn ’ t shift from internal to external can change How are rewards handed out? How is success measured?
1.Value Proposition Options PRICEFEATURESEXECUTION DirectTangibleAvailability PriceQualityTiming Discount structurePerformanceConvenience RebatesProprietary propertiesDelivery Credit ratesPre- & post- sales serviceReliability IndirectOptions / choiceIntensity Financial assistanceGuaranteesSales hustle Capital vs. operatingIntangible/ImageService hustle Life cycle costDesignFriendliness Cost absorptionFashions Prestige “Personality” “Why will people buy what we’re selling?”
Strategy Ethics phronimos “wise” “shrewd” “prudent” Jesus Aristotle The Wise & Foolish Virgins The Wise & Foolish Builder The Wise Servant The Shrewd Servant I am sending you out as sheep among wolves, so be shrewd as snakes and innocent as doves. Joseph
Strategy Ethics phronimos be alert see what’s not obvious plan ahead find solutions