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Competitive Strategy
M. Krishna Erramilli
M. Krishna Erramilli
“Why do some companies outperform others?” That question is particularly important to ask in industries which are fiercely competitive like the tech sector. Companies competing in these industries find it difficult to achieve competitive advantage and sustain it over the longer run. In this course, you will learn about 21st century competition, the forces driving it, and the challenges it poses for companies. Using that as the backdrop, you will learn how to analyze a company's external and internal environments and develop powerful strategies that allow companies to gain a sustainable competitive advantage even in fast-cycle markets. The course will describe companies that have successfully outperformed their competitors even in the fiercely competitive markets of the 21st century.
Read more
“Why do some companies outperform others?” That question is particularly important to ask in industries which are fiercely competitive like the tech sector. Companies competing in these industries find it difficult to achieve competitive advantage and sustain it over the longer run. In this course, you will learn about 21st century competition, the forces driving it, and the challenges it poses for companies. Using that as the backdrop, you will learn how to analyze a company's external and internal environments and develop powerful strategies that allow companies to gain a sustainable competitive advantage even in fast-cycle markets. The course will describe companies that have successfully outperformed their competitors even in the fiercely competitive markets of the 21st century.
Read more
“Why do some companies outperform others?” That question is particularly important to ask in industries which are fiercely competitive like the tech sector. Companies competing in these industries find it difficult to achieve competitive advantage and sustain it over the longer run. In this course, you will learn about 21st century competition, the forces driving it, and the challenges it poses for companies. Using that as the backdrop, you will learn how to analyze a company's external and internal environments and develop powerful strategies that allow companies to gain a sustainable competitive advantage even in fast-cycle markets. The course will describe companies that have successfully outperformed their competitors even in the fiercely competitive markets of the 21st century.
After completing this course, you will be able to:
- Describe what a competitive strategy is and how it is formulated.
- Analyze the macro-environmental factors and identify opportunities and threats.
- Analyze industry forces and draw conclusions about the industry’s profitability.
- Describe the concept of competitive advantage and its importance.
- Describe the circumstances under which competitive advantage is sustainable.
- Analyze the value chain and understand its contribution to competitive advantage.
- Explain how companies compete on price using a cost leadership strategy.
- Describe how companies compete on their unique features using a differentiation strategy.
- Explain how companies can offer both low prices and unique features simultaneously.
- Describe how to choose a value-creating competitive strategy.
Software Requirements: None
Register for this course and see more details by visiting:
OpenCourser.com/course/rsinqw/competitive
What's inside
Syllabus
Module 1: What is Competitive Strategy?
Welcome to Competitive Strategy. In this course, we will cover the topics of: What is Competitive Strategy?, Competitive Advantage, and Choosing a Competitive Strategy.
The 21st century competitive landscape is characterized by rapid technological change, increasing globalization, and intense competition. To succeed in such a challenging environment, companies need to have an effective competitive strategy to be successful over the long run. We will begin the process of developing such a strategy in this module by analyzing external factors that impact a company's performance. We will learn how to identify opportunities and threats in the macro-environment and to analyze forces that affect an industry's profitability. After completing this module, you will have a clear understanding of what competitive strategy is and how to analyze the external environment.
Read more
Syllabus
Module 1: What is Competitive Strategy?
Welcome to Competitive Strategy. In this course, we will cover the topics of: What is Competitive Strategy?, Competitive Advantage, and Choosing a Competitive Strategy.
The 21st century competitive landscape is characterized by rapid technological change, increasing globalization, and intense competition. To succeed in such a challenging environment, companies need to have an effective competitive strategy to be successful over the long run. We will begin the process of developing such a strategy in this module by analyzing external factors that impact a company's performance. We will learn how to identify opportunities and threats in the macro-environment and to analyze forces that affect an industry's profitability. After completing this module, you will have a clear understanding of what competitive strategy is and how to analyze the external environment.
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Module 2: Competitive Advantage
In this module, you will learn what competitive advantage is and how companies can generate it with a good competitive strategy. Competitive advantage is the firm’s ability to generate greater Economic Value Created (EVC), which is the difference between the maximum price customers are willing to pay for the company’s products or services (WTP) and the firm’s cost of producing and selling the product (COST), than the competitor’s EVC. The company’s internal resources help create competitive advantage when deployed with an effective strategy to exploit opportunities in the external environment. You will learn that certain resources which are valuable, rare, inimitable, and for which the company is well organized to exploit, can lead to sustainable or longer-term competitive advantage – which in turn drives long-term profitability. Finally, you will learn how to analyze the value chain activities and understand how they help generate competitive advantage. At the end of the module, you will learn how to analyze internal resources, how companies generate sustainable competitive advantage, and understand the role of the value chain.
Module 3: Choosing a Competitive Strategy
This module describes the different competitive strategies like differentiation, cost leadership, and best-cost strategy. You will understand how companies use these approaches to create a superior EVC and enjoy a sustainable competitive advantage. Differentiation strategies generally focus on increasing the WTP while Cost Leadership strategies stress reducing COST. Best-cost strategy aims to increase WTP and reduce COST simultaneously. You will also learn how to do the SWOT analysis by comparing external opportunities and threats with internal strengths and weaknesses. You will learn how a company can develop an optimal competitive strategy by matching internal strengths with external opportunities. Using a fictitious mini case, you will learn how the external analysis in Module 1 and internal analysis in Module 2 all come together to help companies identify an optimal competitive strategy. At the end of Module 3, you will learn the various competitive strategy alternatives available to companies, how they lead to competitive advantage, and how a company could identify the optimal competitive strategy for a given situation.
Summative Course Assessment
This module contains the summative course assessment that has been designed to evaluate your understanding of the course material and assess your ability to apply the knowledge you have acquired throughout the course. Be sure to review the course material thoroughly before taking the assessment.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Focuses on developing strategies for sustained competitive advantage in the dynamic tech sector
Provides insights into the forces driving 21st century competition
Emphasizes the importance of analyzing external and internal environments for competitive strategies
Examines strategies used by successful companies for outperforming competitors in competitive markets
Instructors M. Krishna Erramilli have expertise in the topic
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Activities
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Competitive Strategy.
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Career center
Learners who complete Competitive Strategy will develop knowledge and skills
that may be useful to these careers:
Strategy Consultant
Strategy Consultant
Strategy Consultants help companies develop and implement strategies that will improve their performance. They work with clients to identify their goals, analyze their current situation, and develop and implement plans to achieve their objectives. This course can help build a strong foundation in competitive strategy and is highly recommended for anyone entering the field.
Management Consultant
Management Consultant
Management Consultants help companies improve their performance by providing advice on strategy, operations, and finance. They work with clients to identify their goals, analyze their current situation, and develop and implement plans to achieve their objectives. This course can help build a foundation of knowledge about competitive strategy and may be useful for someone entering the field.
Competitive Intelligence Analyst
Competitive Intelligence Analyst
Competitive Intelligence Analysts are responsible for gathering and analyzing information about their competitors. They use this information to help their companies make better decisions about their products, services, and marketing strategies. This course can help build a foundation of knowledge about competitive strategy and may be useful for someone entering the field.
Investment Banker
Investment Banker
Investment Bankers help companies raise capital by issuing securities such as stocks and bonds. They also advise companies on mergers and acquisitions. This course can help build a foundation of knowledge about the financial markets and how companies can compete on price and differentiation and may be useful for someone entering the field.
Product Manager
Product Manager
Product Managers are responsible for the development and marketing of products. They work with engineers, designers, and marketers to create products that meet the needs of customers. This course can help build a foundation of knowledge about competitive strategy and how companies can compete on price and differentiation and may be useful for someone entering the field.
Business Strategy Consultant
Business Strategy Consultant
Business Strategy Consultants are responsible for helping companies develop and implement strategies that will improve their performance. They work with clients to identify their goals, analyze their current situation, and develop and implement plans to achieve their objectives. This course can help build a foundation of knowledge about competitive strategy and may be useful for someone entering the field.
Chief Executive Officer
Chief Executive Officer
Chief Executive Officers are responsible for the overall success of their organizations. They set the company's vision and strategy, and they oversee all aspects of the business, including operations, finance, and marketing. This course can help build a foundation of knowledge about competitive strategy and may be useful for someone entering the field.
Business Analyst
Business Analyst
The Business Analyst is someone who does something similar to a Business Intelligence Analyst, but usually focuses on an organization's goals, values and structure rather than its data. They work hand in hand with IT departments and C-suite executives to help business stay efficient, agile, and profitable. This Competitive Strategy course can help build a foundation of knowledge about how businesses operate and may be helpful to someone entering the field.
Portfolio Manager
Portfolio Manager
Portfolio Managers are responsible for managing investment portfolios for their clients. They make decisions about which investments to buy and sell, and they monitor the performance of the portfolio. This course can help build a foundation of knowledge about the financial markets and how companies can compete on price and differentiation and may be useful for someone entering the field.
Market Research Analyst
Market Research Analyst
Market Research Analysts gather and analyze data about consumer behavior and market trends. They use this information to help companies develop and market their products and services. This course can help build a foundation of knowledge about the macro-environmental factors that impact a company's performance and may be useful for someone entering the field.
Sales Manager
Sales Manager
Sales Managers are responsible for leading and motivating sales teams. They develop and implement sales strategies, and they monitor the performance of the team. This course can help build a foundation of knowledge about competitive strategy and how companies can compete on price and differentiation and may be useful for someone entering the field.
Operations Manager
Operations Manager
Operations Managers are responsible for the day-to-day operations of a company. They oversee all aspects of the business, including production, logistics, and customer service. This course can help build a foundation of knowledge about the value chain and how it contributes to competitive advantage and may be useful for someone entering the field.
Financial Analyst
Financial Analyst
Financial Analysts are responsible for analyzing financial data and making recommendations about investments. They use their knowledge of the financial markets to help their clients make informed decisions about their portfolios. This course can help build a foundation of knowledge about the macro-environmental factors that impact a company's performance and may be useful for someone entering the field.
Business Development Manager
Business Development Manager
A Business Development Manager is an individual who works with new and existing customers to develop and maintain relationships that translate into profit. They help understand the wants and needs of customers, and turn those into an effective strategy that helps everyone involved realize their goals. This course may be helpful for Business Development Managers, as it can help build a foundation of knowledge in how to generate sustainable competitive advantage in fiercely competitive markets.
Business Intelligence Analyst
Business Intelligence Analyst
A Business Intelligence Analyst is someone who analyzes and interprets complex data to create actionable insights that help businesses improve their operations. This course may be useful for Business Intelligence Analysts, as it can help build a foundation of knowledge in market analysis and understanding how businesses can gain a competitive advantage in fast-paced markets.
For more career information including salaries, visit:
OpenCourser.com/course/rsinqw/competitive
Reading list
We've selected 20 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Competitive Strategy.
Save
This classic work by Michael Porter foundational text for understanding competitive strategy and industry analysis. It provides a comprehensive overview of the forces that shape competition and the strategies that firms can use to gain a competitive advantage.
Save
Provides a practical guide to developing and implementing effective competitive strategies. It emphasizes the importance of clarity, focus, and alignment in strategy development.
Explores the challenges that established firms face when disruptive technologies emerge. It provides insights into how firms can avoid the innovator's dilemma and adapt to changing market conditions.
Save
Introduces the concept of blue ocean strategy, which involves creating new market space rather than competing in existing markets. It provides a framework for developing and implementing blue ocean strategies.
Provides a framework for understanding how disruptive technologies can lead to the creation of new markets and the growth of new businesses.
Provides a practical guide to using the lean startup approach to develop and launch new products and services. It emphasizes the importance of experimentation, iteration, and customer feedback.
Explores the challenges of marketing and selling technology products to mainstream customers. It provides a framework for understanding the chasm between early adopters and mainstream customers.
Provides a unique perspective on building and scaling successful startups. It emphasizes the importance of creating something new and different, rather than copying existing businesses.
Save
Explores the factors that distinguish great companies from good companies. It provides a framework for understanding the characteristics and practices that can lead to sustained excellence.
Save
Examines the characteristics and practices of companies that have sustained their success over a long period of time. It provides insights into the principles and values that can lead to enduring success.
Explores the common pitfalls that startups face, such as founder conflict, premature scaling, and lack of focus. It provides insights into how to avoid these pitfalls and increase the chances of success.
Save
Profiles eight successful CEOs who took unconventional approaches to building their businesses. It provides insights into the characteristics and strategies that can lead to long-term success.
Emphasizes the importance of organizational health for business success. It provides a practical framework for assessing and improving organizational health, which can lead to increased performance and profitability.
Explores the five dysfunctions that can prevent teams from performing effectively. It provides a fable-based approach to understanding and overcoming these dysfunctions, which can lead to improved team performance and collaboration.
Provides a candid and practical guide to the challenges of building and running a successful business. It covers a wide range of topics, including leadership, culture, and decision-making.
Save
Provides a step-by-step guide to acquiring customers for a new business. It covers a wide range of traction channels, including content marketing, social media, and paid advertising.
Provides a practical guide to using the lean product development process to create and launch successful products.
Provides a step-by-step guide to creating value propositions that meet the needs of customers.
This classic book provides timeless insights on strategy and competition.
Provides insights on personal and professional effectiveness.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/rsinqw/competitive
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Effort
3 weeks of study, about 15 hrs/week
Level
Intermediate
Via
Coursera
Institution
Illinois Tech
Instructor
M. Krishna Erramilli
Language
English
Transcript
tiếng Việt
Good to know
Focuses on developing strategies for sustained competitive advantage in the dynamic tech sector
Provides insights into the forces driving 21st century competition
Emphasizes the importance of analyzing external and internal environments for competitive strategies
Examines strategies used by successful companies for outperforming competitors in competitive markets
Instructors M. Krishna Erramilli have expertise in the topic
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