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By Cliff Bowman, David C. Asch

A set that is a part of the Open college built-in instructing method, this booklet is designed to awaken the serious realizing of scholars. There are readings protecting the strategic administration technique, approach formula and handling strategic switch.

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Managing Strategy

A suite that is a part of the Open college built-in instructing process, this publication is designed to awaken the severe realizing of scholars. There are readings overlaying the strategic administration approach, method formula and coping with strategic swap.

Extra resources for Managing Strategy

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If it were easy, everyone could do it. • Analysing Competitive Position Although the principles behind competitive strategy are straightforward, achieving competitive advantage is intensely difficult.

The 'first follower' strategy has its attractions: here the firm rapidly imitates the innovator's move northwards. There is some evidence to suggest that the first follower can execute the innovator's move in one third of the time and at one third of the cost. The strategy requires rapid adaptation of existing products and rapid introduction of new products (which are, in essence, clones of the innovator's new products). The advantages are that the costs and risks of innovating are borne by someone else, but the benefits may accrue to the imitator rather than the innovator.

These two types of switching cost can be represented in the strategy compass. If a firm is able to set up tangible switching costs, competitors are shifted towards the east on the chart, that is, the perceived price of switching from the existing supplier to another supplier is increased. Tangible switching costs include the cost of retraining staff (for example in the event of a shift from one telephone system to another), retooling, spares inventory write-offs and adapting processes (for example reformulating and testing chemical processes, rewriting software).

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