Competitive Strategies and Value Creatio PM107 Why Attend This course introduces key concepts, tools, and principles of strategic management allowing managers to create their organization's unique sustainable competitive advantage using differentiation, low cost, or focus strategies. The course also offers managers insight into the concepts, tools, and methodologies of the blue ocean strategy. Participants will learn the strategic logic behind creating blue oceans of uncontested market space and gain understanding into how this concept complements and goes beyond the traditional approaches to strategy. Course Methodology This program uses an interactive and cooperative learning methodology to actively engage participants into the most effective learning process by using lectures, participants-led presentations, extensive case studies and analysis, teamwork and brainstorming, and video segments followed by discussions. Course Objectives By the end of the course, participants will be able to: Distinguish between low cost, differentiation, focus and best cost strategies Implement low cost strategies in their organizations to gain cost advantages over rivals Recognize and apply differentiation strategies in their organizations to gain differentiation advantages against rivals Apply the basic concepts, tools and frameworks of blue ocean strategy to create a new market place Explain how blue ocean strategy is 'put into action' Target Audience Professionals, managers, and executives who are involved in influencing and supporting the business and functional level strategies of their organization Target Competencies Business acumen Formulating a strategy Planning at business and functional levels Innovation and creativity Critical thinking Decision making Course Outline Introduction to competitive strategies The three big strategic questions Strategy and the quest for competitive advantage Defining competitive strategy The five generic competitive strategies Low cost provider strategies Objectives and key to success Translating a low cost advantage into higher profits Approaches to securing a cost advantage Controlling cost drivers Revamping the value chain Keys to success in achieving low cost leadership When does a low cost strategy work best Pitfalls of low cost strategies Differentiation provider strategies Objectives and key to success Benefits of a successful differentiation Types of differentiation themes Sustaining differentiation Importance of perceived value Signaling value as well as delivering value When does a differentiation strategy work best Pitfalls of differentiation strategies Best cost and focus provider strategies Objectives and key to success When does a best cost strategy work best Risks of a best cost strategy Focus low cost and focus differentiation strategies Objectives and key to success Approaches to defining a market niche When does a focus strategy work best Risks of a focus strategy Blue ocean strategy – the new market space Red ocean versus blue ocean strategies The impact of creating blue oceans Value innovation: the cornerstone of blue ocean strategy The six principles of a blue ocean strategy Analytical tools and frameworks The strategy canvas The 'eliminate-reduce-raise-create' actions framework Reading the value curves Formulating a blue ocean strategy Reconstructing market boundaries Focusing on the big picture, not the numbers Reaching beyond existing demand
