1.

Strategic is a plan created by a company to make sure that it can survive and sustain
its business. A strategic can be used as a mission to meet the vision of the company.
Timing is very important. Application of the theory is vital in final exam

Why the purpose the strategic management and how it adds value:
- Where do we compete. Apple is competing in electronic industry, innovation,
cellphones and laptops. Ikea is not competing in the highend furniture, custom made
or manufacture.
- What unique value do we bring. Apple: The performance and sustainability, not
lagging, airdrop.
- What resources or capabilities do we utilize. The resource that you can utilize using
your capabilities. Middle east has oil but they don’t have the capabilities that’s why
they asked the US to help them. learning, technology, adaptation. Ikea capabilities is
inexpensive excellent scandanavian design.
- How do we sustain values. You have to continuously improve yourself to deliver the
best products in the market. Identify the resource and capabilities is a continuous
basis process.

2. Is there a winning stratehgy? Check that four questions above and find out what
strategy is perfect for you. (cost leader,)

Sustainability. Continue to innovate your products and continue to investigate new

resources (customers, market, material).

Fit strategy: the 4 qs

Second:
Third: Sustainable competitive advantage is your winning strategy.

3. The timing. Example of Nokia. Motorola touch ID in 1992. If I can still make money
with my old innovation, then there’s no point offering the new one. If the customers
are ready to accept it, then only I will offer the innovation to them. understand the
market.

4. 10 years back Starbucks only offered coffee. But now they are offering many food,
cakes, meat, coffees. The perfect example for product differentiation. They also
open almost 24hr because they are located in the crowded areas (university,
airport). If you can identify the perfect location for your business, you can succeed.
(competitive advantage).

Growth is not a strategy is an outcome.

Timing is everything. Strabucks waited 23 years to open its first store in Milan
because the timing. They were not ready yet. They need to be more knowledgeable
and professional before coming to Milan (the city of coffee) where the coffee market
 are matured or perfect, they already knew about it. Don’t come with a product that
already matured to a matured market.
The timing we want to introduce the product and how timing plays part in it

Starbucks strategy:
- Best cost leadership: value with the cost
- Product differentiation (they are not niche market)