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1、Entrepreneurship 06Business Strategythe function + - : and x are thereto let us know that values can changeonly through learning and function”YOU WILL NEVER FAIL?What if I say.Causes of business failuresYou risk failures when you:Start business with the wrong reasonsDo bad managementDo bad marketing
2、Dont consider competitorsLack of capitalSpend too muchChoose the wrong locationGet too big too fastDont have a website?Have a BAD BUSINESS PLAN!YOU NEED TO KNOW!Strategies.Strategic Strategic ManagementManagementWhat is Strategy? it is an ARTin formulating, implementing, & evaluatingof decisions acc
3、ross the different functions within an organizationto achieve its objectivesStrategy adalah seni dalam menformulasikan, mengimplementasikan dan mengevaluasiBerbagai keputusan lintas fungsional yang memungkinkan organisasi mencapai tujuannya.What?formulateimplementevaluateHow?Enviromental ScanningGat
4、hering InformationExternal: OOpportunities and T ThreatsSocietal Enviromental: General ForcesTask Environment: Industry AnalysisInternal: S Strengths and WWeaknessesStructure: Chain of CommandCulture: Beliefs, expectations, valuesResources: Assets, skills, competence, knowledgeStrategy FormulatingDe
5、veloping Long-range PlansStrategy ImplementationPutting Strategy into ACTION!ACTION!Evaluation and ControlMonitoring PerformanceMissionMissionReasons for existenceObjectivesObjectivesWhat results to accomplish by whenStrategiesStrategiesPlan to achieve the mission & objectivesPoliciesPoliciesBroad g
6、uidelines for decision makingProgramsProgramsActivities needed to accomplish a planPerformancePerformanceActual resultsBudgetsBudgetsCost of programsProceduresProceduresSequence of steps needed to do the jobHow? (proses manajemen strategi)(proses manajemen strategi)Feedback/LearningFeedback/Learning
7、: Make correction as needed: Make correction as neededStrategic Strategic ManagementManagementEconomicSocialCulturalDemographicEnvironmentalPoliticalLegalGovernmentalTechnologicalCompetitive trendsEventsExternal Opportunities and ThreatsSocietal Environment Sociocultural ForcesSociocultural Forces E
8、conomic ForcesEconomic Forces Political-Legal ForcesPolitical-Legal Forces Technological ForcesTechnological ForcesTask Environment ShareholdersShareholders GovermentsGoverments SuppliersSuppliers Special Interest GroupsSpecial Interest Groups Employees / Labor UnionsEmployees / Labor Unions Custome
9、rsCustomers CompetitorsCompetitors CreditorsCreditors Trade AssociationsTrade Associations CommunitiesCommunitiesPorters Generic StrategiesPoints:A firm positions itself by LEVERAGING its strengthsPorter argued that a frims strengths ultimately fall into 2 of 2 headings: cost advantage and different
10、iationIt is called “generic” because it is not firm or industry dependent, it is a strategy that everyone can apply with some measuresIf the primary determinant of a firms profitability is the attractiveness of the industry in which it operates, an important secondary determinant is its position wit
11、hin that industryCost Leadership StrategyThis generic strategy calls for being:Low cost producer in an industry for a given level of qualitySelling products either at average industry prices to earn a profit higher that that of rivals, or below the average industry prices to gain market shareIn pric
12、e war, the firm can maintain some profitability while the competition suffers lossesAs industry matures and prices decline, firms that can produce more cheaply will remain profitable for a longer period of timeCost Leadership StrategyChoices that determine costs:If competing firms are unable to lowe
13、r their costs by a similar amount, the firm may be able to sustain a competitive advantage based on cost leadershipEconomies of scaleAsset utilizationCapacity utilization pattern seasonal, cyclicalInterrelationshipsorder processing and distributionValue chain linkagesAdvertising & salesLogistics & o
14、perationsProduct featuresPerformanceMix & variety of productsService levelsSmall vs large buyersProcess technologyWage levelsHiring, training, motivationDifferentiation StrategyThis generic strategy calls for being:Development of a product or service that offers unique attributes that are valued by
15、customers and that customers perceive to be better than or different from the products of the competitionThe value added by the uniqueness of the product may allow the firm to charge a premium price for it as the firm hopes that the higher price will more than cover the extra costs incurred in offer
16、ing the unique productBecause of the products unique attributes, if suppliers increase their prices, the firm may be able to pass along the costs to its customers who cannot find substitute product easilyRisks on strategiesWith low cost strategy, as technology improves, the competition may be able t
17、o leapfrog the production capabilities, thus eliminating the competitive advantageEven with differentiation, risk may include imitation by competitors and changes in customer tastesIn focused market, even imitation and changes may ocur in target segments, furthermore, broad market cost leader may ad
18、apt its product in order to compete directlyFinally, other focusers may be able to carve out sub-segments that they can serve even betterThreats of New EntrantsBargaining Power of SuppliersBargaining Power of BuyersThreat of Substitute Products or ServicesRivalry Among Existing CompetitorsPorter 5 f
19、orces VS GenericDevelop Vision and Mission StatementsEstablish Long Term ObjectivesGenerate, Evaluate and Select StrategiesImplement Strategies VS IssuesMeasure and Evaluate PerformancePerform Internal AuditPerform External AuditComprehensive Strategic Management Model / Strategic PlanningEntrepreneurialActionsStrategicActionsInnovationNetworksInternationalizationOrganisational learningTop management teams and governanceGrowthWealth Creationstrategywithouttacticsis the slowest road to victorytacticswithoutstrategyis the noise before defeatSUN TZUartofwar
