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c Industry maturity does not imply a lack of opportunity; noIndustry maturity does

not imply a lack of opportunity; nor does maturity imply an absence of
technological change.

c But«industry maturity tends to reduce the number of opportunities for CA and
shift these limited opportunities from differentiation-based factors to cost-based

c Less scope for differentiation due to greater buyer knowledge, product
standardization & less product innovation.

c Diffusion/imitation of process technology makes cost advantages difficult
to obtain and sustain.

c Highly developed industry infrastructure and powerful distributors make it
easier to attack niches.

c Low-cost overseas competitors and exchange rate movements make cost
advantage difficult.

c Cost Advantage: 3 Drivers

c ë  
: The increased standardization that
accompanies maturity assists the exploitation of scale economies.

c j

stock market) c j. : Unionization can hurt existing orgs. Firms that acquire equipment cheaply can gain cost advantages (economy.

etc. cost inefficiency can be fatal. inventory. : Excess overhead costs in mature firms can be pervasive and institutionalized and their elimination may require ³shock therapy. . c Hambrick & Schecter suggest 3 strategies for turnaround: c !  : aggressive cost reduction through reduction of excess capacity. cutbacks in R&D.´ c Although cost efficiency may not always provide competitive advantage. marketing. halting investment in equipment.

c Segment and Customer Selection: c Even unattractive industries may offer profitable niche markets. IT increasingly makes it possible to ID customers that are most profitable. image. c Value chain analysis can help ± potential for reconfiguration of the sequence of activities. . but the structure of segments with regard to concentration. c Turnaround strategies almost always involve changes in the top management team. c Strategic innovation may involve redefining markets: c Embracing new customer groups c Adding products and services that perform new but related functions (Arco. buyer power. Not only do growth rates of demand vary between segments. a combination of the above. c      : refocusing on profitable segments and core competencies. B&N) c Baden Fuller & Stopford ± reconciliation of multiple (often opposing) goals in order to create new options: c Maturity is a state of mind«not a state of business. c This may allow firms to target attractive customers and transform less valuable customers into more valuabInnovation: c Innovation: c The quest for differentiation requires innovation: new approaches to uniqueness in terms of features. distribution. and bundling ± beyond technical innovation«toward strategic innovation. c è   : minor rather than major adjustments. and potential for differentiation varies considerably. c The logic of segment focus implies disaggregation of markets ± to the individual level.

etc. loosely defined roles.´ c Efficiency through bureaucracy: c Dynamic environments require organic org forms characterized by decentralization. c Organizational Inertia c Competency Traps c Industry recipes c Managerial ability to change c ³Somewhere out there there¶s a bullet with your company¶s name on it. . c Reconcile alternatives: quality at low cost. c Sequence the strategic and organizational development. Somewhere out there is a competitor. and high levels of lateral communication. variety at low cost. that will render your strategy obsolete. c Be selective ± a firm¶s market scope needs to be limited by its resources and capabilities. Galvanize top management commitment. maintain momentum. c It is the firm that matters«not the industry. build the strategic capabilities needed. c Create an entrepreneurial (intra) with freedom to experiment and the capacity to learn. speed at low cost. simplify by eliminating outdated/unnecessary activities/control systems. unborn and unknown.

Efficiency is achieved through standardized routines. Bureaucratic orgs are prominent among the large enterprises found in most mature industries. c Decision-making has shifted downward with shrinking corporate staffs. well-defined roles. c Increased emphasis on teams and more permeable boundaries c Wider use of ³aligning´ incentives. c Stable environments require mechanistic org forms characterized by centralization. division of labor and close management control. . and predominantly vertical communication. c Less emphasis on controls and supervision c Org forms in emerging and mature industries are closing the gap. c Less emphasis on E and more emphasis on CR. and open communication & collaboration: c Strategic planning now goes deeper in the org. faster decision-making. c The past two decades have seen growing unpopularity with bureaucracy (even in mature industries): c Increased environmental turbulence c Increased emphasis on innovation c New process technologies (CIM and automation increase the need for job flexibility) c Alienation and conflict (created by bureaucracies) c Changes in bureaucracies include less hierarchy.

c The ease with which capacity can be adjusted to declining demand depends upon: c The predictability of decline. but some entry as new firms get assets ³on sale. c The key features of declining industries are: c Excess capacity c Lack of technical change (stable product and process technology) c Declining number of competitors.) c Managerial commitment (emotional/moral reasons) c Single product c Strategies of surviving firms (dictates your actions in terms of divestiture or acquisition)     . c Barriers to exit: c Asset specificity c Exit costs (severance. broken contracts. etc.´ c High average age of resources. c Aggressive price competition.

Harvest strategies work better if you¶re the leader. perhaps.    c Leadership: c Acquire competitors or encourage competitors to leave (then. . acquire their assets).

customers. models. c Divest: c Early recognition is a must. .c Find a Niche: c Find a stable/growing segment and pursue leadership in the segment. c Harvest: c Halt investment and maximize cash flow. rationalize channels.