MBA@UNC | Introduction to Business Strategy

hi my name is Chris Bingham I’m Philip Edelman fellow and associate professor strategy and entrepreneurship at unc’s can flagler business pool and I’m delighted and honored to be the developer of this course business strategy and hope you enjoy its content as much as I do let me tell you a little bit about myself my undergraduate degree is in accounting from Brigham Young University I also received a Ma in international studies in an Mba also from Brigham Young University my Phd is from Stanford University where I emphasized in strategy organizations and entrepreneurship my work experience includes stints with large established organizations that you might have heard of such as Price Waterhouse Mckinsey & Company and deloitte consulting as well as some managerial positions in a few startup organizations personally I love I love to run play tennis soccer bike ski water ski and something unique about me is I used to be a nationally sponsored snowboarder so what is strategy about when you’re talking to your friends and your family members and and they ask you what’s what’s this course about strategy is about being your competition it’s about winning in your industry and over the course of the next five weeks we’ll talk about how the tactics and activities that organizations use to beat their competition depend on the level of dynamism in that industry so we’ll begin with strategy is position which is more appropriate for less dynamic industries where the past is largely a predictor of what’s going to happen in the future and there are a couple of counter intuitive insights here with strategy as position a lot of executives think that you need to have very valuable resources to create advantage in your organization and in your industry well the insight here is that when you’re in a stable environment you can have lots of mundane resources that don’t have a whole lot of strategic value in and of themselves but when they’re synergistic and reinforcing they can create a lot of power and value for an organization then we’ll move to strategy as leverage and here we’ll talk about strategies for creating advantage in more dynamic markets where there’s some change but we can largely predict what those changes are going to be and here a counter to intuitive insight is that organizations do rely on a few core resources that they’ve built up and refined and utilized over time and they use those resources as drivers for diversification into new product market categories on this is counterintuitive because a lot of executives when they’re thinking about diversification just look at the attractiveness of new markets and what we’re saying is no you need to look upstream at the resources that your organization is honed over time and let those drive diversification rather than the markets themselves finally we discuss strategy as an opportunity and here we’re talking about strategy and very complex ambiguous environments where there’s a constantly shifting set of competitors where industry boundaries are blurred and it’s really unclear how long your sustainable advantage might might last and here an insight is that when environments become very complex often the best strategies are the most simple so in these environments organizations often rely on a few core growth processes alliances acquisitions product development and what you’ll see is that the most successful organizations often rely on a few simple rules to shape those processes so Cisco relied heavily on acquisitions and in its early days it had a 75 75 acquisition rule so don’t acquire firms with more than 75 employees 75% of which have to be engineers Yahoo also relied on a few simple rules to shape its alliance process one of them was don’t do a deal that jeopardizes the user experience pics are also relies on a few simple rules to shape its plot development one of them is in-house original ideas only so here from the outside forget it doesn’t matter if you’re the gender the auditor but the ideas have to come from inside the organization so stepping back if we look at strategies position leverage an opportunity we see that strategy is and will continue to be about being different in a competitively advantageous way but the way that organizations go about that differs depending on their level of dynamism so I hope that you enjoy this course and wish you all the best in this program Mba at Unc you.

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