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Session 1
A companys strategy consists of the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, grow the business, conduct operations and achieve targeted objectives
Where do we want to go
Gain market share through pricing, performance measures, appealing design, better quality, customer service Diversify through new businesses Through acquisitions Alliances or strategic partnerships Through merger with rival companies Enter new geography or exit existing market Respond to changing market conditions and external circumstances Strengthen competitive capabilities or correct competitive weakness Define processes including R&D, marketing, and back office
A company achieves sustainable competitive advantage when an attractive number of buyers prefer its products or services over the offerings of competitors and when the basis for this preference is durable
Hertz Enterprise rent a car Dell Coca cola Michelin Toyota Ritz Carlton
External
Reactive Proactive
Internal
Proactive Reactive
Changing circumstances and ongoing management efforts to improve the strategy cause a companys strategy to emerge and evolve over time a condition that makes the task of crafting a strategy - work in progress and not a one time event A companys strategy is driven partly by management analysis and choice and partly by the necessity of adapting and learning by doing
A companys business model relates to whether the revenue / cost / profit economics of its strategy demonstrate the viability of the business enterprise as a whole
VISION
LEVISTRAUSS
We are the embodiment of the energy and events of our times, inspiring people with a pioneering spirit. We believe that business can drive profits through principles, and that our values as a company and as individuals give us a competitive advantage.
LEVISTRAUSS
Empathy Walking in other peoples shoes Empathy begins with paying close attention to the world around us. We listen and respond to the needs of our customers, employees and other stakeholders. Originality Being authentic and innovative The pioneering spirit that started in 1873 with the very first pair of blue jeans still permeates all aspects of our business. Through innovative products and practices, we break the mould. Integrity Doing the right thing Integrity means doing right by our employees, brands, company and society as a whole. Ethical conduct and social responsibility characterize our way of doing business. Courage Standing up for what we believe It takes courage to be great. Courage is the willingness to tell the truth and to challenge hierarchy, accepted practice and conventional wisdom. It means standing by our convictions and acting on our beliefs.
LEVISTRAUSS
Innovative
VISION
ITC LIMITED
Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company's stakeholders
ITC LIMITED
List 6 areas
What is ethical to one organisation could be unethical to another and vice versa
Advertising tobacco Employing child labour Usage of substances that could potentially harm the consumer Sale of drugs banned in certain countries Accounting practices
MANY THANKS
BOOKS TO READ
R Gopalakrishnan
List 6 areas
1. Turnaround 2. Maintain standard fleet size 3. Gradual scale up 4. Direct ticket sales 5. Customer centric 6. No frills
ITC LIMITED
FMCG Cigarettes, personal care, food, lifestyle, education, safety matches and incense sticks Hotels Paper and Speciality Agri business E Choupal Information technology Travels