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    Ravi Luke
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    This document provides an overview and key learning objectives for chapters 4 and 5 of a management policy course. It discusses human capital and social capital, how firms attract, develop, and retain human capital, and how social capital is formed. It then covers implications for managing these types of capital and introduces two major types of business strategy - business-level strategy and corporate-level strategy. For business-level strategy, it describes the price-cost-value model and focuses on overall cost leadership and product differentiation as two potential sources of competitive advantage.

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    This document provides an overview and key learning objectives for chapters 4 and 5 of a management policy course. It discusses human capital and social capital, how firms attract, develop, and retain human capital, and how social capital is formed. It then covers implications for managing these types of capital and introduces two major types of business strategy - business-level strategy and corporate-level strategy. For business-level strategy, it describes the price-cost-value model and focuses on overall cost leadership and product differentiation as two potential sources of competitive advantage.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    13 views17 pages

    Session 4

    Uploaded by

    Ravi Luke
    This document provides an overview and key learning objectives for chapters 4 and 5 of a management policy course. It discusses human capital and social capital, how firms attract, develop, and retain human capital, and how social capital is formed. It then covers implications for managing these types of capital and introduces two major types of business strategy - business-level strategy and corporate-level strategy. For business-level strategy, it describes the price-cost-value model and focuses on overall cost leadership and product differentiation as two potential sources of competitive advantage.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 17

    c c

    
    
    Management Policy I
    Session 4
    Today·s Agenda and
    Learning Objectives
    ° x apters 4 & 5
    ° Learning objectives
    ° Understanding w at are in man capital and
    social capital and ow t ey come abot
    ° How to manage t ese kinds of capitals
    ° Knowledge-based view of t e firm
    ° Bsiness strategy
    ° How bsiness strategy leads to good performance
    0 an Capital
    ° º at is man capital?

    ° º at are in man capital?


    º ere does an capital
    coe fro

    °
    ree activities
    ° Attracting talented employees
    ° Developing employees· talent
    ° Retaining employees· talent
    |ocial Capital
    ° º at is social capital?

    ° º at are in social capital?

    ° º ere does social capital come from?


    anaging 0 an and |ocial
    Capital
    ° Implications derived man and social
    capital

    ° Having t ese kinds of capital does not


    sfficiently lead to better performance

    °
    e key is ë 
    C apter 5
    °
    wo major types of strategy
    ° Bsiness-level strategy

    ° xorporate-level strategy
    £ siness-level |trategy: PCV
    odel
    ° P ² Price
    ° x ² xost
    ° V ² Vale

    ° In most cases, firms compete for profit


    margin (i.e., P-x
    £ siness-level |trategy: PCV
    odel
    ° P ² Price
    ° x ² xost
    ° V ² Vale

    ° In most cases, firms compete for profit


    margin (i.e., P-x
    Overall Cost Leaders ip
    ° àocses on gaining
    advantages by redcing its
    transaction costs below t e
    costs of competitors

    ° xost leaders ip is not eqal


    to price leaders ip
    ï 
    
        
    
         
    |o rces of cost advantage
    ° conomies of scale
    ° Learning-crve

    °
    e following activities are examples of ow to ac ieve
    cost savings
    ° Aggressive constr ction of efficient-scale facilities
    ° Vigoro s p rs it of cost red ctions fro experience
    ° Tig t cost and over ead control
    ° Avoidance of arginal c stoer acco nts
    ° Cost iniization in all activities in t e fir·s val e c ain, s c
    as R&D, service, sales force, and advertising

    ° Differential low-cost access to factors of prodction


    ° How does overall cost leaders ip
    improve a firm·s position in t e
    indstry?

    ° xan overall cost leaders ip be easily


    imitated? How so?
    Prod ct Differentiation
    ° xreated t e perceived
    vale of prodcts or
    services better t an ï 
    
        
    
         

    t at of competitors
    °
    e created vale
    needs to at least
    provide yo (as a firm
    temporal competitive
    advantage
    ° How does prodct differentiation
    improves a firm·s position in an
    indstry?

    ° àor prodct differentiation to be


    sstainable, w at does a firm need to
    do?
    j   
    
      
    
    
    j 
    º c
    º

    ° x apter 6

    ° xase

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