Week 5 Flashcards
Elements of a business model (3)
- Customer value proposition
- Profit formula
- Key resources
Blue ocean
Untapped market space, demand creation and the opportunity for highly profitable growth
Reconstructionist view
The view that market boundaries and industry structure are not given and can be reconstructued by the actions and beliefs of industry players
Blue ocean frameworks (3)
- Strategy canvas
- Four actions framework
- Eliminate-reduce-raise-create
Strategy canvas
- Captures the current state
- Captures the offering level of buyers
Four actions
- Eliminate factors
- Determine over-designed products
- Eliminate compromises
- Discover new sources
Characteristics of a good strategy (3)
- Focus
- Divergence
- Compelling tagline
Strategic contradictions
Areas where a company is offering a high level on one competing factor while ignore others that support that factor
Strategic inconsistencies
Can be found between the level of offering and price
Industry types (4)
- Fragmented industries
- Emerging industries
- Mature industries
- Declining industries
Fragmented industries strategy
Consolidation or franchising
Emerging industries strategy
Create first mover advantages
First mover advantages (3)
- Technological leadership
- Pre-emption of assets
- Switching costs
Mature industry strategies (3)
- Refine current products
- Emphasize on service
- Invest in process innovation
Declining industries strategies (4)
- Market leadership
- Market niche
- Harvest strategy
- Divestment strategy
