Learning for Life “Strategic Decision Making in a Competitive Market Environment”
The seminar took place at ALBA facilities on Saturday, November 12, 2005and it was conducted by Kostas Axarloglou, Assistant Professor of Business Economics, Academic Director of P-MBA Program at ALBA and had as invited guest speaker Dr. Frank H. Blejian, Managing Director of Friesland Hellas (1982-2003).
- Assessing the Competitive Environment
- Creating and Sustaining a Competitive Advantage
- Anticipating Competitor’s Actions
- Formulating Dynamic Competitive Strategies
- Issues in Implementing Strategy
1. Assessing the Competitive Environment
One of the primary issues facing managers in formulating competitive strategy is to understand and define the competitive environment of their company. The key questions to be addressed in this session are:
- Where are you competing?
- Who are your competitors?
- How attractive is the competitive environment?
2. Creating and Sustaining a Competitive Advantage
Within their competitive environment, companies seek to build and sustain a competitive advantage over their competitors. This session addressed the following:
- What is the basis of your competitive advantage?
- How to identify and develop your competitive advantage?
- How to renew your competitive advantage?
- How to prevent the erosion of your competitive advantage?
3. Anticipating Competitors’ Actions
In their business environment, managers should understand the mind-set of their rivals and thus anticipate their moves. This session focused on:
- Understand the patterns of the competitive relations with your rivals.
- Determining the payoffs of your strategy.
- How these payoffs change over the course of multiple actions?
- What is your best strategy and what are the likely moves of your competitors?
4. Formulating Dynamic Competitive Strategies
This session focused on the strategy you can follow when a competitor is about to enter in your market. The session dealt with:
- The set of options you might have in responding to new entrants in the market and their competitive moves.
- How pre-emptive strategies might keep your competitor outside your market.
- How narrowing down your options might block your competitors’ moves.
5. Strategic Decision Making in Practice
Invited Speaker: Dr. F.H. Bledjian
This session presented the implementation of strategic decision making in FRIESLAND HELLAS.
- What do we learn this morning and early afternoon?
- Short info about FRIESLAND HELLAS (FR-HL)
- Why did FR-HL formulate a new Competitive Strategy?
- What input info went into this formulation?
- Market (Trade and Consumers)
- E.U. Legislation
What else was needed for a successful Formulation?
- Entrepreneurial spirit, Creativity and Innovation
- Down-to-earth Enthusiasm and Determination
- Meticulous planning
- The profile of the products and product category
- The Product Development
- The Introduction
- The Support (Sales, Marketing, Logistics)
- The Success Story
- What did you take away from the seminar?