Inside Dyson

4072 WordsMar 5, 201217 Pages
Thompson, J., and Martin, F. Strategic Management: Awareness and Change, 6th Edition Chapter 1 Strategy Explained Strategies are means to ends. All organizations, large and small, profit-seeking and not-for-profit, private and public sector, have a purpose, which may or may not be articulated in the form of a mission and/or vision statement. Strategies relate to the pursuit of this purpose. Strategies must be created and implemented, and it is these issues which are addressed by our study of strategic management. This opening chapter begins by outlining how successful organizations manage their strategies, and what they achieve, before exploring the meaning of strategy in greater detail. It then continues with an explanation of the…show more content…
For this reason, it can be useful if particular strengths are not easily learned and imitated by rivals. This is linked to the key themes of core competency and strategic capability. The opening case on Dyson shows how innovation and new ways of creating and adding value through design can markedly change an industry. In this particular case, innovation allowed a newcomer to establish a position of market dominance and force a reaction from established manufacturers. This chapter looks first and briefly at the idea of a resource audit before considering resource linkages and synergy through architecture and the notion of the value chain. The chapter concludes with a section on reputation and branding, key intangible assets. Before reading this chapter you might usefully re-read the sections on core competencies and leveraging resources in the Part One supplement. Chapter 4 – The Dynamics of Competition Few companies enjoy the luxury of having no serious competitors or little likelihood of any need to change their competitive strategy. It is essential for companies to look for opportunities to create – and sustain – a competitive edge over their rivals and build customer loyalty that provides something of a comfort zone. Logically this should lead to superior profits. However, competitive advantage, as a term, is easily misunderstood. Some organizations clearly believe, and thus delude themselves, that a clear
Open Document