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Ch4-1Chapter4Business-LevelStrategyMichaelA.HittR.DuaneIrelandRobertE.Hoskisson©2000South-WesternCollegePublishingCh4-2Chapter4BusinessLevelStrategySustainableCompetitiveAdvantageChapter2ExternalEnvironmentChapter3InternalEnvironmentCh4-3CoreCompetencyTheresourcesandcapabilitiesthathavebeendeterminedtobeasourceofcompetitiveadvantageforafirmoveritsrivals.Ch4-4StrategyAnintegratedandcoordinatedsetofactionstakentoexploitcorecompetenciesandgainacompetitiveadvantage.CoreCompetencyTheresourcesandcapabilitiesthathavebeendeterminedtobeasourceofcompetitiveadvantageforafirmoveritsrivals.Ch4-5StrategyAnintegratedandcoordinatedsetofactionstakentoexploitcorecompetenciesandgainacompetitiveadvantage.BusinessLevelStrategyActionstakentoprovidevaluetocustomersandgainacompetitiveadvantagebyexploitingcorecompetenciesinspecific,individualproductmarkets.CoreCompetencyTheresourcesandcapabilitiesthathavebeendeterminedtobeasourceofcompetitiveadvantageforafirmoveritsrivals.Ch4-6GenericBusinessLevelStrategiesCostUniquenessSourceofCompetitiveAdvantageBreadthofCompetitiveScopeBroadTargetMarketNarrowTargetMarketFocusedDifferen-tiationCostLeadershipDifferen-tiationFocusedLowCostCostLeadershipCh4-7KeyCriteria:CostLeadershipBusinessLevelStrategyRelativelystandardizedproductsFeaturesacceptabletomanycustomersLowestcompetitivepriceCh4-8Requirements:Constantefforttoreducecoststhrough:BuildingefficientscalefacilitiesStateoftheartmanufacturingfacilitiesSimplificationofprocessesMinimizingcostsofsales,R&DandserviceMonitoringcostsofactivitiesprovidedbyoutsidersTightcontrolofproductioncostsandoverheadCostLeadershipBusinessLevelStrategyCh4-9PrimaryActivitiesSupportActivitiesTechnologicalDevelopmentHumanResourceManagementFirmInfrastructureProcurementInboundLogisticsOperationsOutboundLogisticsMarketing&SalesServiceValueCreatingActivitiesCommontoaCostLeadershipBusinessLevelStrategyCh4-10PrimaryActivitiesSupportActivitiesTechnologicalDevelopmentHumanResourceManagementFirmInfrastructureProcurementInboundLogisticsOperationsOutboundLogisticsMarketing&SalesServiceCostEffectiveMISSystemsRelativelyFewManagementLayerstoReduceOverheadSimplifiedPlanningPracticestoReducePlanningCostsConsistentPoliciestoReduceTurnoverCostsEffectiveTrainingProgramstoImproveWorkerEfficiencyandEffectivenessHighlyEfficientSystemstoLinkSuppliers’ProductswiththeFirm’sProductionProcessesTimingofAssetPurchasesEfficientPlantScaletoMinimizeManufacturingCostsSelectionofLowCostTransportCarriersDeliverySchedulethatReducesCostsNationalScaleAdvertisingProductsPricedtoGenerateSalesVolumeSmall,HighlyTrainedSalesForceEffectiveProductInstallationstoReduceFrequencyandSeverityofRecallsEasy-to-UseManufacturingTechnologiesInvestmentsinTechnologyinordertoReduceCostsAssociatedwithManufacturingProcessesSystemsandProcedurestofindtheLowestCostProductstoPurchaseRawMaterialsFrequentEvaluationProcessestoMonitorSuppliers’PerformancesLocatedinCloseProximitywithSuppliersPolicyChoiceofPlantTechnologyOrganizationalLearningEfficientOrderSizesInterrelationshipswithSisterUnitsValueCreatingActivitiesCommontoaCostLeadershipBusinessLevelStrategyCh4-11HowtoObtainaCostAdvantage1.DetermineandControlCostDrivers2.ReconfiguretheValueChainasneededAlterproductionprocessChangeinautomationNewdistributionchannelDirectsalesinplaceofindirectsalesNewadvertisingmediaNewrawmaterialBackwardintegrationForwardintegrationChangelocationrelativetosuppliersorbuyersCh4-12ReconfiguringtheValueChainofIowaBeefPackers(IBP)RanchCattleShip“ontheHoof”toRailCenter(Chicago)Slaughterintosidesofbeef“BoxedCuts”atMarketsOldWay:SaveonshippingandcattleweightlossUtilizecheapernon-unionrurallaborNewWayNewWay:LocatelargeautomatedplantsnearranchesProcessinto“BoxedCuts”atplantsShipcutsalready“Boxed”toMarketsCh4-13ChoicesThatDriveCostsEconomiesofscaleAssetutilizationCapacityutilizationpatternValuechainlinkagesInterrelationships-Advertising&Sales-Logistics&Operations-Seasonal,cyclical-OrderprocessinganddistributionProductfeaturesProductfeaturesPerformanceMix&varietyofproductsServicelevelsSmallvs.largebuyersProcesstechnologyWagelevelsHiring,training,motivationCh4-14ThreeKeyQuestions2.Howcanagroupoflinkedvalueactivitiesberegroupedorreordered?3.Howmightcoalitionswithotherfirmsloweroreliminatecosts?Gallosoldwinethroughgrocerystoresratherthanliquorstoresbecausetheyweremoreefficientdistributors1.Howcananactivitybeperformeddifferentlyoreveneliminated?Ch4-15EffectiveCostLeaderscanremainprofitableevenwhentheFiveForcesappearunattractiveCh4-16CanfrightenoffNewEntrantsduetotheneedto:EnteratlargescaletobeCostCompetitive*Taketimetomovedownthe“LearningCurve”*EffectiveCostLeaderscanremainprofitableevenwhentheFiveForcesappearunattractiveThreatofNewEntrantsCh4-17CanfrightenoffNewEntrantsduetotheneedto:EnteratLargeScaletobeCostCompetitive*Taketimetomovedownthe“LearningCurve”*BargainingPowerofBuyersThreatofNewEntrantsCanmitigateBuyerPowerby:*DrivingpricesfarbelowcompetitorsmaycauseexitandshiftpowerbacktofirmEffectiveCostLeaderscanremainprofitableevenwhentheFiveForcesappearunattractiveCh4