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Competitive Advantage
ë   
  is creating better
customer value for the same or lower cost than
offered by competitors.
ë Customer value is the difference between what a
customer receives and what customer gives up
ë Customer realization includes basic product
features, service, quality, instructions for use,
brand & any factor that is important for
customer
ë Customer sacrifice includes cost, time spent in
purchasing & maintenance costs

 

   
        
 
   

eneric Strategies & customer
value
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|hree eneric Strategies
ë Cost Leadership: is a competitive strategy in
which a firm succeeds in producing products or
services at the lowest cost in the industry

ë Differentiation: is a competitive strategy in


which a firm succeeds in developing and
maintaining a unique value for the product as
perceived by consumers

ë Focus: selecting or emphasizing a market or


customer segment in which to compete.
Strategic Positioning

It is the process of selecting optimal


mix of three general strategic
approaches with an objective of creating
sustainable competitive advantage
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Comparison of Prior and Contemporary Business
Environment


 

   
 
   




 



Basis of Economies of scale, Quality, functionality, customer
competition standardization satisfaction
Manufacturing High volume, long production Low volume, short production
process runs, significant levels of in-
in- runs, focus on reducing
process and finished inventory levels and other nonnon--
inventory value added activities and costs
Required Machine-paced,
Machine- low level Individually and team
team--paced,
Labour skills skills high--level skills
high
Emphasis on Acceptance of a normal or oal of zero defects
quality usual amount of waste
Contd..



   
 
   




 



Products Relatively few Large number of
variations, long variations, short product
products life cycles life cycles
Markets Largely Domestic lobal
Contd

 
 


   
 


 
   





Focus Financial measures of Non Financial Measures such as
performance quality, customer service, time to
delivery
Management Hierarchical, command and Network based organization
organizational control forms, teamwork focus ²
structure employee has more responsibility
and control, coaching rather than
command and control
Management Emphasis on the short term, Emphasis on the long term, focus
focus short term performance on critical success factors,
measures and compensation, commitment to the long term
concern for sustaining the success of the firm including
current stock price, myopic maximising shareholder value
focus
   
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