ZCMA6082 Corporate Strategy

Individual Assignment

Instructions:

1. Watch the 2 videos by Nick Hansen and Alex Smith.

2. Discuss 3 important points raised by each speaker. Please provide evidence from the videos.
3. Do the speakers share a common theme (or common themes)? Please elaborate.
4. Do the speakers contradict one another? Please elaborate.
5. Are the arguments, put forth by the speakers, practical and relevant to Malaysian
companies? Why (or why not). (Please support your discussion by giving examples)
6. Given the pandemic that has affected the entire globe, how can Malaysian business leaders
benefit from points discussed in no. 2?
7. In general, do you agree with the speakers? Why or why not.

Note:

1. This is an individual assignment that needs to be completed in a short essay form comprising
a minimum of 500 words.
2. Students are encouraged to discuss and exchange ideas. However, the final submission must
constitute your original work.
3. Kindly limit the typos and grammatical errors.
4. Your work will be evaluated based on the ability to argue and defend your thoughts
convincingly.
5. Plagiarism is not condoned nor tolerated. Evidence of such practice will result in severe
repercussion.
6. The final report must reflect your maturity as graduate students.

Deadline: June 25, 2023 (Sunday) by 2pm

Strategy as Choice | Nick Hansen

“Near-death experience” (6:12 – 7:29)

Nick Hansen gives the example of a railway firm where things are initially going well, but
subsequently encounter a barrier that may otherwise be seen as an opportunity due to the
emergence of new technology. The railway corporation refuses to expand despite having a
solid workforce and infrastructure in place. It eventually began to contract and experience a
recession. The significance of explanatory style, or how we explain the things that happen to
us, is discussed by Nick Hansen. According to him, those with a positive explanation style are
more likely to achieve in life than those with a negative explanatory style.

The power of hope. (7:29 – 10:13)

Hansen also talks about the power of hope. He says that hope is a powerful emotion that
can help us overcome challenges. He cites the example of Martin Seligman, who was
diagnosed with clinical depression but was able to overcome it through the power of hope.

The importance of resilience. (12:51 – 14:01)

Hansen also talks about the importance of resilience. He says that resilience is the ability to
bounce back from setbacks. He cites the example of Viktor Frankl, who survived the
Holocaust and went on to become a renowned psychiatrist.

The importance of taking action. (14:21 – 15:09)

Hansen ends his talk by talking about the importance of taking action. He says that we can't
just sit back and hope for the best. We need to take action to make our dreams a reality.
When we set goals, we give ourselves something to strive for. Goals can help us stay
motivated and focused.
Love your competitors - how great businesses do strategy | Alex Smith

Focus on value, not competition (4:04 – 10:47)

Rather than solely focusing on beating competitors, this approach emphasizes creating
more value for customers. By understanding customer needs and preferences, businesses
can differentiate themselves by offering unique value propositions. This can lead to
customer loyalty and higher profitability in the long run. For example, instead of engaging in
price wars, companies can focus on enhancing the quality, features, or customer service
associated with their products or services.

Find ways to collaborate (10:57 – 14:43)

Collaboration with competitors can yield several benefits. By working together, businesses
can leverage each other's strengths, share resources, and combine expertise to create new
products, services, or enter new markets. Collaborative efforts can lead to innovation and
market expansion that might be challenging to achieve individually. Joint ventures, strategic
partnerships, or industry-wide collaborations are examples of how competitors can come
together for mutual gain.

Be open to feedback (14:55 - 17:19)

Listening to competitors and being receptive to their feedback can provide valuable insights
for improving business operations and offerings. Competitors may have different
perspectives, experiences, or ideas that can shed light on industry trends, customer
preferences, or potential areas for improvement. By incorporating constructive feedback,
businesses can refine their strategies, enhance their products or services, and stay ahead in
the competitive landscape. At the end of the talk he also emphasize on “you win when you
refuse to compete”
Both speakers emphasise the importance of teamwork and cooperation in business. While
Nick Hansen's talk focuses on the mindset and resilience of the individual, Alex Smith's ideas
are about corporations working with their rivals. Both speakers support a change in mindset
that sees rivals as possible collaborators rather than enemies. They advocate for the notion
of producing value and cooperating to benefit all parties involved.

The opinions of the two speakers do not always conflict. While Alex Smith's session focuses
on business collaboration, Nick Hansen's address is mostly about personal mindset and
resilience. Despite having different foci, they can nonetheless work well together. It is
possible for people to develop a constructive explanatory style, resilience, and collaborative
business practises.

Both speakers' arguments may be applicable and useful to businesses in Malaysia.

Competitive cooperation and alliances can promote innovation, resource sharing, and
market expansion. Malaysian businesses can stand out and adopt a more customer-centric
strategy by concentrating on adding value for consumers rather than participating in fierce
rivalry. For instance, to provide a wide choice of products and enhance consumer
experiences, Malaysian e-commerce platforms like Lazada and Shopee have partnered with
numerous brands and sellers.

Malaysian business executives can gain from the ideas presented in the discussion on
collaboration given the pandemic's effects on the world business scene. Businesses can pool
resources, share information, and react to the quickly shifting market conditions through
collaboration. Malaysian businesses can join to address supply chain issues, create cutting-
edge solutions, and investigate new markets. Working together can also help organisations
use technology to turn into digital enterprises and overcome the difficulties of remote work.

As a conclusion, I totally agree with both speakers as points coming from both of them are
complementing each other as how can a business do much better in their own field. As Alex
Smith keep on emphasizing how can a business lead to lower prices, lower profits, and a
"race to the bottom." It highlights collaboration as a positive approach, enabling businesses
to share resources, ideas, and customers. And Nick Hansen mentioned again and again
about the importance of taking risks. Sometimes, we need to take risks in order to achieve
our goals. Risk-taking can be scary, but it can also be very rewarding. The importance of
perseverance. Perseverance is the ability to keep going, even when things are tough. It's
important to never give up on our dreams, no matter how difficult they may seem. As a take
home messages, points between these two speakers are collaboration, a customer-centric
approach, and resilience are often considered valuable strategies for success. The idea of
viewing competitors as partners rather than adversaries can lead to mutually beneficial
outcomes. It's important to evaluate and adapt these concepts based on the specific
circumstances and dynamics of each business and industry.