STEN 4980 Lecture Notes - Lecture 5: Starbucks, Software Engineering
Document Summary
What is a strategy canvas: assess relative strengths and weaknesses against specific customer purchase criteria, uncover how companies attempt to offer unique value to customers relative to competitors. Examine motives and likely behavior of individual competitors: use analysis to identify your own competitive moves which bring most advantageous effect. Evaluate competition by developing a competitor response profile, which identifies characteristics of a competitor to assess likely responses to rival actions. Competitor response profile: a profile of a competitor that identifies its objectives and assumptions, its strategy, and its resources and capabilities in order to anticipate how the competitor might respond to rival actions. Four principles of competitive strategy: know your strengths and weaknesses, bring strength against weakness, protect and neutralize vulnerabilities, develop strategies that cannot be easily imitated or copied (go where the competitor is not) Apple has strengths in product design, but its products are subject to rapid obsolescence because of the rapid pace of technological change.
