What strategies that a certain firm have to set up and how to set them up?

Answer: Chin lc tng trng Chin lc cp n v kinh doanh Chin lc cnh tranh trong kinh doanh Chin lc chc nng Chin lc khc bit ha sn phm A strategy is an integrated and externally oriented concept of how a firm will achieve its objectives how it will compete against its rivals. Thus a strategy consists of an integrated set of choices. These choices can be categorized as five related elements of strategy based on decisions that managers make regarding arenas, vehicles, differentiators, staging, and economic logic. - Arenas: are the areas in which a firm will be active. Decisions about a firms arenas may encompass its products, services, distribution channels, market segments, geographic areas, technologies and stages of the value-creation process. - Vehicles: are the means for participating in targeted arenas. The possible vehicles for entering a new arena include acquisitions, alliances, licensing/franchising, internal development and joint ventures. - Differentiators: are features and attributes of a firms product or service that help it beat its competitors in the marketplace. Firms can be successful in the marketplace a long a number of common dimensions, including image, customization, technical superiority, price and quality and reliability. Differentiators are what drive potential customers to choose one firms offerings over those of competitors. The earlier and more consistent the firm is at defining and driving these differentiators, the greater the likelihood that customers will recognize them. The best strategies often combine differentiators. There are two critical factors in selecting differentiators: + These decisions must be made early. + Identifying and executing successful differentiators means making tough choices- tradeoffs. - Staging: refers to the timing and pace of strategic moves. Staging choices typically reflect available resources including cash, human capital, and knowledge. Staging decisions should be driven by several factors: resources, urgency, credibility and the need for early wins. - Economic logic: refers to how the firm will earn a profit by implementing a strategy. In analyzing a firms economic logic, think of both costs and revenues. To implement strategies, organization leaders have to consider 3 categories: organization structure, systems and processes, and people and reward. - Organization structure: includes the organizations authority, hierarchy, units, divisions, and coordinating mechanisms. - Systems and processes: Systems are all the organizational processes and procedures used in daily operations. These include control and incentive system, resource-allocation procedures, information systems, budgeting, distribution, and so on.

People and reward: emphasizes the importance of using al of the firms members to implement a strategy. Successful implementation depends on having the right people and then developing and training them in ways that support the firms strategy. And rewards how you pay your people can accelerate the implementation of a strategy or undermine it.