management 3

13問 • 1年前

Charles Jaojao

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Strategies that use strengths to maximize opportunities

maxi-maxi strategy

Strategies that use strengths to minimize threat

Maxi-mini strategy

Strategies that minimize weaknesses by taking advantage of opportunities

Mini-maxi strategies (W and O)

Strategies that minimize weaknesses and avoid threats

Mini-mini strategy (W and T)

is the most favorable situation; the firms faces several environmental opportunities and has numerous strengths that encourage pursuit of those opportunities This situation suggests growth- oriented strategies to exploit favorable match

cell 1

firms have identified several key strengths but faces an unfavorable environment. Strategies would seek to redeploy those strong resources and competencies to build long-term opportunities in more opportunistic product markets

Cell 2

the firms have impressive market opportunities but is constrained by weak internal resources The focus of the strategy for such a firm is eliminating the internal weaknesses so as to more effectively pursue the market opportunity

cell 3

is the least favorable situation; the firms facing major environmental threats from a weak resource position This situation clearly calls for strategies that reduce or direct involvement in the products or markets examined by means of SWOT analysis

cell 4

May be defined as some skill, activity or capacity that the business is uniquely good at in comparison to rival firms • Unique capabilities and values possessed by particular kinds of organizations - organizations that come to be valued in and of themselves, not merely for the products or services they produce.

distinctive competence

To define a firm's distinctive competence, management must complete an assessment of both internal and external corporate environments. • When management finds an internal strength that both meets market needs and gives the firm a comparative advantage in the marketplace, that strength is the firm's distinctive competence. • Taking advantage of an existing distinctive competence is essential to business strategy development. Firms can possess distinctive competence in a wide variety of areas, including technology, marketing, and management.

distinctive competence

Can be built in a number of ways. - Firms can hire more qualified professionals than those employed by competitors; - they can find and exploit previously neglected market niches; and - they can be especially innovative or can gain advantage over competitors through sheer strength of management.

distinctive competence

• There are numerous areas in which a firm can have a distinctive competence. ✓ Some companies have distinctive competence because they manufacture a product with superior quality. ✓ Other firms excel in technological innovation, research and development, or new product introduction. ✓ Still other firms have advantages in low-cost production, customer support, or creative advertising. • For example, McDonald's distinctive competence is its system of controls for operating its fast-food restaurant franchises, which gives the company an unusually high profit margin.

distinctive competence

To define a company's distinctive competence, managers often follow a particular process. 1. First, they identify the strengths and weaknesses of their firm. 2. Next, they determine the strategic importance of these strengths and weaknesses in the given marketplace. 3. Then, they analyze specific market needs and look for comparative advantages that they have over the competition. - Importantly, while managers generally follow this process, they often undertake more than one step simultaneously.

distinctive competence

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