modern competitive strategy
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MODERN COMPETITIVE STRATEGY
Dr. I. Iskandar
Efektifitas Strategi
Mengapa ada perusahaan yang sangat lama menguasai pasar dan tidak tergoyahkan?
Perusahaan tersebut bisa unggul dalam ukuran, produk, jaringan, lokasi, organisasi, hingga sejarahnya.
Hal ini menjadikan perbedaan yang sangat jelas diantara pesaing-pesaingnya.
3 keuntungan memilih strategi yang tepat
1. Sumber dari perolehan ekonomis. Strategi yang tepat menghubungkan posisi pasar dengan kemampuan perusahaan. Hal ini dikarenakan nilai yang didapatkan pelanggan dapat lebih terasa dibandingkan dengan pesaing.
3 keuntungan memilih strategi yang tepat
2. Strategi menyediakan kerangka kerja untuk alokasi sumberdaya. Jika mempunyai sumberdaya terbatas, organisasi akan didorong untuk membuat keputusan untuk alternatif ber-investasi. Hal ini akan berdampak kepada cara perusahaan berkompetisi dengan pesaingnya.
3 keuntungan memilih strategi yang tepat
3. Pemikiran yang strategis akan bisa mengarahkan perusahaan. Strategi perusahaan yang mudah dimengerti, akan memudahkan pengambilan keputusan di berbagai level manajemen. Hal ini akan berguna ketika perusahaan dalam kondisi yang tidak menentu dan ketika terjadinya konflik manajemen.
Awal dari strategi
Ruang lingkup strategi berasal dari 6 sumber utama, yaitu:
1. Industrial Economics2. Case studies of exemplary
companies3. Business and Industry History4. Economic and Organizational
Sociology5. Strategic planning tools6. Institutional economics
Competitive Advantage
Ada dua aspek yang sangat fundamental dalam ruang lingkup strategi, yaitu: “positioning product line & defending this position against competitors”
Competitive Advantage adalah Goal dari pemikiran strategis dan fokus utama berhasilnya suatu keputusan
Value drivers
Cost drivers
Retain Costu-mers
Prevent
Immita-tion
Resources
Capabilities
Competitive
Advantage
Superior Economic
Contribution
Sustainable Market Position
Membangun Competitive Advantage
Competitive Positioning w/ Customers
Defending Agains tCompetitors
Isolating Mechanisms
Apa yang dimaksud dengan competitive advantage?
Is the goal of strategic thinking and the primary focus of successful entrepreneurial action.
To achieve the goal of competitive advantage, a firm must offer value to customers at a cost that produces economic performance superior to rivals.
The firm must then defend this position from the competition.
The contribution of economic and organizational sociology to strategy1. Analyses of industry trends, especially
rates of firm failure, have shown the importance of firm size, more than age, for survival
2. The internal structures and processes of firms have been analyzed for their relative efficiency and potential for generating innovations
3. The development of networks of organizations has been analyzed as a strategic resource
The contribution of economic and organizational sociology to strategy4. Advantages associated with
geographical location have been identified
5. Trends in corporate governance, including top management compensation and practices of boards of directors have been examined systematically
The distribution economic contribution between Buyer and Supplier
Economic ContributionProduced by the supplier
Buyer’s Surplus
Supplier’s Profit
Customer Value
Market Price
Product Cost
Strategi Umum
A successful firm must have one of two generic strategies, which reflect its value and cost profile. A firm should be either a “differentiator” or the “cost leader”.
A differentiator invests in offering high value, and the cost leader has the lowest costs. These strategies can be applied to a broadly defined market or to a market niche.
In the case of a niche, the strategy is called “focus”. If a firm is neither a differentiator nor the cost leader it is called “stuck in the middle” - SIM
Higher Value
Value D
Value SIM
Value LC
D
SIM
LC
Lower Cost
COST D COST SIM COST LC
Trade-off between Differentiation and Low-cost Generic Strategies
Stuck In the Middle
Differentiatior
Lower Cost
$ Premium FirmValue Schwab
Cost
Typical Competitor’sEconomiccomtribution
Low-priceFirm
Schwab’s Economiccomtribution
Value
CostCost
The Internet Brokerage Industry
Value and Cost DriversValue Drivers Cost Drivers
Quality Scale economies
Delivery Scope economies
Service Learning curve
Technology Low input costs
Breadth of line Vertical integration
Customization
Geography
Risk Assumption
Brand/ Reputation
Network Externalities
Environmental policies
Complementary products
Defending against competitors A successful firm must defend its
superior market position from attack by competitors. The central means of protecting a superior position are the prevention of imitation and the creation of high customer switching costs.
Defending against competitors The factors that reduce imitation and
increase switching costs are called isolating mechanism. To defend its market position, the firm aligns these mechanisms with its value and cost drivers, and with its resources and capabilities that produce these drivers. Without these mechanisms, competitive forces would quickly eat up the firm’s profit.
Isolating Mechanisms
Increasing Customer Retention
Preventing Imitation
Search costs Property rightsTransition costs Dedicated AssetsLearning costs Causal Ambiguity
Learning costs
Industry Analysis
How industry structure determines a firm’s economic performance. Industry forces can lower performance, as Michael Porter has argued. Porter’s five forces are buyers, suppliers, competitors, the threat of entry and substitute products.
Each influences performance by affecting a product’s value and price, or the firm’s costs. A sixth force is complementary products (ex: operating systems for computers)
Competitors
Porter’s Five Forces Framework
Buyers Suppliers
Substitutes
Entrants
Competitors
The Value Net
Buyers Suppliers
Complements
Characteristic of Rivalry
Many competitors A common set of buyers for all firms The same value offered by all firms The same cost structure in all firms Relatively costless entry Relatively costless exit
Six factors determine the degree of buyer power Buyer concentration Low market growth Low strategic importance of the product
to the buyer High strategic stakes in selling to the
buyer The need of suppliers to fill capacity
through selling to the buyer The buyer’s credible threat of vertical
integration
Supplier power
Supplier concentration Supplier industry growth rate Percentage volume sold to the firm Strategic importance of the supplier
to the firm Strategic importance of the firm to
the supplier Threat of backward integration by
the firm
Effect on:
Industry Competition
Industry Force
Value Cost Price
Stronger Rivalry
Lowers the price required to compete in industry
Stronger Buyers
Raise the valueRequired toCompete inindustry
Lower the price required to compete in industry
StrongerSuppliers
Lower the value to firms in the industry
Lower EntryCosts
Lower the price to keep entrants out of industry
More PowerfulSubstitutes
Raise the value required to compete in industry
Effect on:
Industry Cooperation
Industry Force
Value Cost Price
Between Firm and Buyers
Raises the value to buyers without comparable rise in firm costs
Lowers firm costs without comparable drop in buyer value
Between Firm and Suppliers
Raises the value to buyers without comparable rise in supplier costs
Lowers firm costs without comparable drop in firm value
Between firm and competitiors
Raises the value to industry buyers without comparable rise in industry costs (shared innovation)
Lowers the costs in industry without comparable drop in value to industry buyers (shared innovation)
Raises the potential price necessary to compete (cooperative pricing)
Effect on:
Complements
Industry Force
Value Cost Price
Presence of effective complements
Raises the value to industry buyers without comparable rise in industry costs
Three Major Stages of Industry Evolution Stage one – Growth: new product
commercialization and industry expansion as the entry rate exceeds the exit rate
Stage two – Shakeout: a shakeout when the rate of entry drops and the rate of exit rises, decreasing the number of firms in the industry
Stage three – Maturity: industry stabilization as entry and exit rates converge
Stage one - Growth
Dynamic Capabilities and the growth of the firm
Developing scalable Value and Cost Drivers
First mover advantage Strategic pricing
Dynamic Growth Cycle
Firm Size
Capacity Expansion
Product or Process
Innovation
Improved Market Position Due to Higher value or
lower cost
Improved Profitability
Key conceps in developing and maintaining dynamic capability
Concept Definition
Dynamic Growth Cycle
The cycle of firm growth linking size, innovation, productivity, profitability, and capacity expansion.
Dynamic Capability
The ability of a firm, as it grows, to build its innovative potential and exploit it effectively
Path Dependence
The tendency of a firm over time to invest in innovations that are upwardly compatible with each other, thereby creating a relatively unique path of product and process development
Absorptive Capacity
The ability of the firm to adopt innovations developed by other organizations based on its prior experience with similar or related practices or technologies
Core Rigidity The inability of a firm to adapt to changing market or technological conditions because of its attachment to its core practices and customers
Customer segmentation over the product life cycle
Industry Volume
Early majority Late Majority
Laggards
Early Adopters
Time
Rates of product and process innovation over the history of the industry
Rate ofInnovation
Process Innovation
Product Innovation
1 2 3 time
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