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Concentrate on niche market (either cost or differentiation-focused), comes with strong customer loyalty, reduced competition

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in-house outsource

partner offshore

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Provide unique, high quality products or services, targeting broad markets with customers willing to pay a premium for distinctive features

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Positioning Strategy - choose an unoccupied position, setting themselves apart from other competitors

Leverage Strategy - using existing advantages such as brand image, popularity etc. to launch new products

Opportunity Strategy - spotting unmet customer demands, entering quickly to benefit from it

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innovation

operations

marketing

sales and distribution

corporate functions

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Institutions shape international competitiveness.

Formal: laws, regulations, legal systems

Informal: culture, norms, customs, unwritten rules

These affect how firms behave, compete, and perform internationally.

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skills talents knowledge

capacity for collaboration

interpersonal interactions

shared values

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(V)alue

(R)arity

(I)mitability

(O)rganizational

aspects of Resources and Capabilities

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tangible assets: financial, physical technological

intangible assets: goodwill, reputation, innovation

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Product Differentiation

Market Segmentation

Key Functional Areas

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become the low-cost producer in the industry

weakness: compromises value due to drive to reduce costs

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choosing the right position, leverage, or opportunity

strategy

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institution-based view on international competitiveness

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Michael Porter's 5 Forces (Competitive Rivalry)

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Michael Porter's 5 Forces (Competitive Rivalry)

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Threat of potential entrants

Threat of entry

Threat of substitute

The bargaining power of buyers

The bargaining power of suppliers

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VRIO framework

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resource-based approach

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generic strategies of cost leadership, differentiation and

focus

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five forces framework

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COMPETITVE STRATEGY FOR INTERNATIONAL

BUSINESSES