RWTHX - MTI006x - Week 1

POSITIONING(THE(FIRM
Introduction
TORSTEN(OLIVER(SALGE(|+Aachen
School(of(Business(and(Economics
TIME Research+Area+|(Innovation,+Strategy+and+Organization+Group+(ISO)
TIME Research+Area+|+Innovation,+Strategy+and+Organization+Group+(ISO)
LEARNING OBJECTIVES
Outlining+the+objectives+of+this+video
! To+observe+strategy+in+action+
(ILLUSTRATION)
! To+reflect+upon+how+to+scope+the+firm+and+change+the+rules+of+the+game
(REFLECTION)
! To+obtain+a+sneak+preview+of+all+subsequent+videos+on+the+session+theme+
(PREVIEW)
©+Torsten+Oliver+Salge 2
INTRODUCTION(| Illustration
Developing+and+capturing+a+new+market+segment
UNOCCUPIED,(GROWING(
high MOST+ESTABLISHED+CAR+ MARKET(SEGMENT
MODELS+WITH+
CONVENTIONAL+
ENGINES
PERFORMANCE
TO(PRICE(
RATIO
MOST+CURRENT+CAR+
MODELS+WITH+
low ALTERNATIVE
COMBUSTION+ENGINES
low ENVIRONMENTAL( high

FRIENDLINESS
INTRODUCTION(| Illustration
Developing+resources+and+capabilities+most+critical+in+target+segment
Engineering(Talent Mass(Assembly(Capability
Charging(&(Service(Network Energy(Innovation(Capability
INTRODUCTION(| Reflection
Positioning+the+firm+to+outcompete+or+reinventing+the+industry
How(should(Tesla(scope(its(activities(to(optimize(its(position?
Does(Tesla(have(the(potential(to(change(the(rules(of(the(game(in(the(
car(industry(and(create(largely(uncontested(market(space?
YOUR(VIEW
INTRODUCTION(| Reflection
Entering+the+home+battery+business
Why+is+Tesla+entering+the+home+battery+business?+A+smart+move?
©+Torsten+Oliver+Salge Source:+Tesla+(2016) 6
INTRODUCTION(| Preview
Identifying+key+questions+to+be+addressed
How(can(strategy(portfolios(guide(corporate(strategy(and(help(
1 decision\makers(scope(the(activities(of(their(organization?
How(can(generic(strategies(help(organizations(achieve(competitive(
2 advantage(in(their(industry?(
How(can(organizations(make(competition(irrelevant(and(create(
3 uncontested(market(space?
INTRODUCTION(|+Preview
Exploring+positioning+strategies
Competitive Competitive
Market+ Resource+
View View
(Session(2) (Session(3)
Strategy
Process Strategy(Content
(Session(1)
Competitive Cooperative
Positioning
(Session(4) (Session(5)
Strategy(Context
(Session(6)
INTRODUCTION(|+Preview
Previewing+key+insights+from+our+subsequent+videos
Red(Ocean(Strategy Blue(Ocean(Strategy
! Corporate(Strategy.( 2 ! Blue(Ocean(Strategy.(
5
Explore+the+tools+that+ Understand+how+to+create+
help+to+decide+on+the+ uncontested+market+
scope+of+the+business+ space+and+make+
! Generic(Strategy(I.( 3
competition+irrelevant
Become+familiar+with++
cost+leadership+
strategies
! Generic(Strategy(II.( 4
Become+familiar+with+
differentiation+strategies++++++++++++
6
Understand(how(to(best(position(and(scope(the(firm
INTRODUCTION |+Readings
Sources+and+further+readings
De+Wit,+B.++&+Meyer,+R.+(2014).+Strategy:(An(International(Perspective.+Cengage Learning.
Grant,+R.+M.+(2015).+Contemporary(Strategy(Analysis.+John+Wiley+and+Sons.+8th Edition.
Kim,+W.+C.,+&+Mauborgne,+R.+(2005).+Blue+ocean+strategy:+from+theory+to+practice. California(Management(
Review, 47(3),+105c121.
Kim,+W.+C.,+&+Mauborgne,+R.+(2015).+Blue(Ocean(Strategy:(How(to(create(uncontested(market(space(and(
make(the(competition(irrelevant.+Expanded+Edition.+Harvard+Business+Review+Press
Porter,+M.+E.+(1998).+Cluster+and+the+new+economics+of+competition. Harvard(Business(Review, 76(6),+pp.+77–
90.
CONTACT(US(
Contact+details+and+disclaimer
School+of Business+and Economics Images+used:

TIME Research+Area ! Compass:+Pdpics.com,+23+March+2016.+Web.+
Innovation,+Strategy &+Organization Group+(ISO) <http://www.pdpics.com/preview/preview35/6833c
compasscmap.jpg>
! Tesla+Logo:+4+April+2016.+Web.+
Kackertstraße 7 http://www.teslamotors.com
! Tesla+auto bots:+Wikipedia.org,+6+April+2016.+Web.+
52072+Aachen
https://upload.wikimedia.org/wikipedia/commons/5/57
Germany /Tesla_auto_bots.jpg
! Tesla+Surpercharger:+Jeff+Cooper,+14+April+2016.+
Web.+
Phone:(+49+241+80+99197 https://upload.wikimedia.org/wikipedia/commons/f/fd/
Charging_Tesla_Model_S_01.jpg
Mail:(info.iso@time.rwthcaachen.de
! Tesla+Team:+Elon Musk,+14+April+2016,+Twitter.+
Web:(www.time.rwthcaachen.de/iso https://twitter.com/elonmusk/status/26260596200586
8544
! Tesla+Gigafactory:+26+April+2016,+
https://www.teslamotors.com/gigafactory
Red$Ocean$Strategy$I:$Corporate$Strategy
TORSTEN(OLIVER(SALGE(|$Aachen
TIME Research$Area$|(Innovation,$Strategy$and$Organization$Group$(ISO)
TIME Research$Area$|$Innovation,$Strategy$and$Organization$Group$(ISO)
LEARNING OBJECTIVES
Outlining$the$objectives$of$this$video
! To$learn$about$strategy$portfolios$that$help$to$scope$the$firm
(PORTFOLIOS)
! To$discuss$salient$tensions$in$corporate$strategy
(TENSIONS)
! To$learn$how$to$assess$the$value$creation$potential$of$business$opportunities
(RECONCILIATION)
©$Torsten$Oliver$Salge 2
CORPORATE(STRATEGY(| Portfolios
Integrating$insights$from$the$marketK and$the$resourceKbased$view
McKinsey(Matrix Matrix(Dimensions
! External(View((MBV):(
Industry$Attractiveness
Investment$
Selective$ ! Based$on$rigorous$industry$analysis
Competitive(Advantage
High
Selectivity and$
Growth
Growth ! How$high$is$the$rentKearning$
potential$of$that$industry?
Medium
Harvest$/$$$$$ Selective$
Selectivity
Divest Growth
! Internal(View((RBV):(
Competitive$Advantage
Harvest$/$$$$ Harvest$/$$$$
! Based$on$rigorous$resource$and$
Low
Selectivity
Divest Divest
capability$analysis
Low$$$$$$$$$$$$$$$$Medium$$$$$$$$$$$$High ! How$well$is$the$firm$positioned$to$
Industry(Attractiveness exploit$the$rentKearning$potential$of$
the$industry?
Deriving$strategic$implications
! Maintain$overall$ ! Identify$growth$ ! Grow

position segments ! Seek$dominance
High
! Seek$cash$flow ! Invest$strongly ! Maximize$investment

! Invest$at$ ! Maintain$position$
maintenance$level elsewhere
! Prune$lines ! Identify$growth$ ! Evaluate$leadership$

! Minimize$investment segments potential$via$
Medium
! Position$to$divest ! Specialize segmentation

! Invest$selectively ! Identify$weaknesses
! Build$strengths
! Attack$competitor’s$ ! Specialize ! Specialize

cash$generators ! Seek$niches ! Seek$niches
Low
! Time$exit$and$divest ! Consider$exit ! Consider$acquisitions
Low$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Medium$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$High
Industry(Attractiveness
Highlighting$the$plethora$of$strategy$portfolios
What(other(strategy(portfolios(do(you(know?(
YOUR(VIEW
Reviewing$the$classic$BCG$matrix
BCG(Matrix Matrix(Dimensions
! Market(Growth(Rate
15%
Question(Marks Stars ! YearKonKyear$growth$of$market$
segment$in$value
10%
! CutKoff$points:$e.g.$industry$growth$
Extend$/ Sustain$/
Market(Growth
Exploit Extend rate,$GDP$growth$rate$

5%
Poor(Dogs Cash(Cows
! Relative(Market(Share
0%
! Ratio$between$firm$market$share$and$
Exploit$/$ Sustain market$share$of$market$leader
Liquidate
K5% ! CutKoff$points:$1$distinguishes$
0,1$$$$$$$$$0,5$$$$$$$$$$$$$$$$1$$$$$$$$2$$$$$$$$$$$5$$$$$$$$$10
between$leadership$and$followership,$
Relative(Market(Share
or$1.5$to$indicate$strong$dominance
Deriving$strategic$implications
Business( Market(Share( Business( Investment( Net(Cash(

Category Thrust Profitability required Flow
Stars
Hold/ Around$zero$or$
High High
Increase slightly$negative
Cash(Cows
High Low
Hold Highly$positive
Question(Marks
Increase* None$or$negative Very$high Highly$negative
Dogs
Harvest/
Low$or$negative Disinvest Positive
Divest
*$There$is$a$selective$application$of$the$strategy$depending$on$the$decision$made$with$regard$to$the$business:$$$
either$to$enter$aggressively$or$withdraw.
CORPORATE(STRATEGY(| Reflection
Highlighting$the$plethora$of$strategy$portfolios
MATRICES EXTERNAL(FACTORS INTERNAL(FACTORS
McK Matrix Industry$attractiveness Relative$competitive$advantage
BCG(Matrix Market$growth Relative$market$share
Life_Cycle(Matrix Industry$maturity Business$position
Alternative(BCG(Matrix Differentiation$opportunities Extent$of$competitive$advantage
Profitability(Matrix Market$growth Profitability
CORPORATE(STRATEGY(| Tensions
Exploring$tensions$in$corporate$strategy
Michael(Porter(suggested(that(“the(essence(of(strategy(is(choosing(
what(not(to(do.(Strategy(is(creating(fit(among(a(company’s(activities.”(
Why(could(that(be(important?
YOUR(VIEW
CORPORATE(STRATEGY(| Tensions
Exploring$tensions$in$corporate$strategy
Attribute Responsiveness((((((((((vs((((((((((Synergy(
Emphasis(on Responsiveness Synergy
Conception(of(Corporation Holding$company Common$core
Corporate(Composition Potentially$unrelated Closely$related
Key(Success(Factor BU$responsiveness MultiKbusiness$synergy
Focal(Type(of(Synergy Cash$flow$and$risk$optimization$ Resource$integration
Corporate(Management(Style Financial$control Strategy$development
Main(Task(of(Corporate(Centre Capital$allocation$and$control Synergy$management
Position(of(Business(Units Highly$autonomous Highly$integrated
Coordination(between(BUs Low,$incidental High,$structural
Growth(through(Acquisitions Simple$to$accommodate Difficult$to$integrate
©$Torsten$Oliver$Salge Source:$De$Wit$&$Meyer$(2014) 10
CORPORATE(STRATEGY(| Reconciliation
Assessing$Tesla’s$entry$into$the$home$battery$business
Was(this(a(smart(strategic(move?
©$Torsten$Oliver$Salge Source:$Tesla$(2016) 11
Assessing$strategic$diversification$opportunities$
If$diversification$is$to$create$shareholder$value,$it$must$meet$three$tests
(Porter’s$three$essential$tests):
1.(The(Attractiveness(Test(
Diversification$must$be$directed$towards$attractive$industries
(or$industries$that$have$the$potential$to$become$attractive)
2.(The(Cost(of(Entry(Test(
The$cost$of$entry$must$not$capitalize$all$future$profits
3.(The(Better_Off(Test
Either$the$new$unit$must$gain$competitive$advantage$
from$its$link$with$the$company,$or$viceKversa
©$Torsten$Oliver$Salge Source:$Grant$(2015),$Tesla$(2016) 12
Building$the$electric$mobility$ecosystem
Introducing$the$‘missing$piece’$...
©$Torsten$Oliver$Salge Source:$Tesla$(2016) 13
CONTACT(US(
Contact$details$and$disclaimer
School$of Business$and Economics Images$used:

TIME Research$Area ! Compass:$Pdpics.com,$23$March$2016.$Web.$
Innovation,$Strategy &$Organization Group$(ISO) http://www.pdpics.com/preview/preview35/6833K
compassKmap.jpg
! Tesla$Logo:$2$May$2016.$Web.$www.teslamotors.com
Kackertstraße 7 ! Tesla$Powerwall Images:$2$May$2016.$Web.$
www.teslamotors.com
52072$Aachen
Germany
Phone:(+49$241$80$99197
Mail:(info.iso@time.rwthKaachen.de
Web:(www.time.rwthKaachen.de/iso
Red$Ocean$Strategy$II:$Generic$Strategy$I$
LEARNING OBJECTIVES
! To$unpack$the$nature$of$Porter’s$generic$strategies$
(INTRODUCTION)
! To$discover$and$illustrate$the$nature$of$cost$leadership$strategies$
(COST(LEADERSHIP)
! To$discuss$der$boundary$conditions$of$cost$leadership$strategies
(REFLECTION)
GENERIC(STRATEGY(|$Introduction
Introducing$Porter’s$three$generic$strategies
Uniqueness$perceived$by$the$ Low$cost$
customer position
Industry
Strategic(Target
wide
Differentiation Cost(leadership
Particular$
segment$
Focus
©$Torsten$Oliver$Salge Source:$Porter (1998) 3

GENERIC(STRATEGY(|$Introduction$
Aligning$the$entire$organization$with$selected$generic$strategy
Generic(Strategy Key(Strategy(Elements Key(Requirements
! ScaleRefficient$production$ ! Standardization$and$volume
! Design$for$manufacture ! Reduced$complexity
! Control$of$overheads$and$R&D ! Tight$cost$control
Cost(Leadership ! Process$innovation ! Process$engineering$capabilities
! Outsourcing$(e.g.,$overseas) ! Specialization$of$jobs$/$functions
! Technological$innovation ! Energy$innovation$capabilities
! New$product$development ! IT$capabilities$(e.g.,$connectivity)
! Charging$ecosystem ! Automation$capabilities
Differentiation ! Quality$ ! High$quality$mass$production
! Design ! Design$capabilities
! Branding$ ! Marketing$capabilities
! Advertising
©$Torsten$Oliver$Salge Source:$Grant$(2015) 4
GENERIC(STRATEGY(|$Cost$Leadership$
Understanding$the$drivers$of$cost$advantage
Increased$dexterity
Economies(of(learning Improved$organizational$routines
Indivisibilities
Economies(of(scale Specialization$and$division$of$labor
Process$innovation
Production(techniques Reengineering$business$processes
Standardizing$designs$&$components
Production(design Design$for$manufacture
Location$advantages
Ownership$of$lowRcost$inputs$
Input(costs NonRunion$labor
Bargaining$power
Ratio$of$fixed$to$variable$costs
Capacity(utilization Speed$of$capacity$adjustment
Organizational$slack_$motivation$&
Residual(efficiency culture_$managerial$efficiency
Minimizing$costs$along$the$value$chain
Imagine,(you(are(consultant(to(Skoda.(
What(would(you(recommend(to(enhance(its(position(as(a(cost(leader?
YOUR(VIEW
Minimizing$costs$along$the$value$chain
Cost( Prices$depend$upon: ! Size$of$R&D$ ! Scale$of$plants ! Size$of$advertising$

! Order$sizes commitment ! Number$of$models$ budget
Drivers ! Productivity$of$R&D
! Average$value$of$$$$$$$ per$plant ! Strength$of$existing$
purchases ! Number$and$ ! Degree$of$ reputation
! Location$of$ frequency$of$new$ automation ! Sales$volume$
suppliers models ! Level$of$wages
! Bargaining$power ! Sales$per$model ! Location$of$plants$
Value(
R&D( Component Testing Goods Sales(&(
Chain Purchasing Assembly Distribution
Design MFR quality inventory Marketing
Linkages 4 3
2
1
Conclusion 1)(Consolidating$purchase$orders$to$increase$discount$increases$inventories
2)(High$quality$parts$and$materials$reduce$costs$of$defects$at$later$stages
3)(Reducing$manufacturing$defects$cuts$warranty$costs
4)(Designing$different$models$around$common$components$and$
platforms$reduces$manufacturing$costs$
Examining$cost$advantages$in$the$airline$industry
Costs(per(Available(Seat`Mile
vs
Southwest(Airlines United(Airlines
(cents) (cents)
Wages$and$benefits 2.4 3.5
Fuel$and$oil 1.1 1.1
Aircraft$ownership 0.7 0.8
Aircraft$maintenance 0.6 0.3
Commissions$on$ticket$sales 0.5 1.0
Advertising 0.2 0.2
Food$and$beverages 0.0 0.5
Other 1.7 3.1
Total 7.2 10.5
GENERIC(STRATEGY(|$Reflection
Discussing$the$boundary$conditions$of$cost$leadership$strategies
Resources(&(Skills Org.(Requirements Risk(Factors

! Sustained$investment$ ! Tight$cost$control ! Technological$change$
and$access$to$capital ! Frequent,$detailed$ that$nullifies$past$
! Process$engineering$ control$reports investments$or$
and$innovation$skills learning
! Structured$
! Close$supervision$of$ organization$and$ ! LowRcost$learning$by$
labor responsibilities industry$newcomers$
or$followers
! Products$designed$for$ ! Incentives$based$on$
ease$of$manufacturing meeting$strict$ ! Inability$to$recognize$
quantitative$targets required$product$or$
! LowRcost$distribution$
market$changes
system
! Inflation$in$costs
Boundary(Conditions(of(Cost(Leadership(Strategies
CONTACT(US(

Innovation,$Strategy &$Organization Group$(ISO) http://www.pdpics.com/preview/preview35/6833R
compassRmap.jpg
! Tesla$Logo:$2$May$2016.$Web.$www.teslamotors.com
Kackertstraße 7 • SkodaRLogo:$Wikimedia$Commons,$Zaibatsu
52072$Aachen • Southwest$Airlines$Logo:$MSL.$02$Feb$2016.$Web.
<$http://modernservantleader.com/servantR
Germany
leadership/southwestRairlinesR2011RresultsRreflectR
benefitsRofRservantRleadership/>
Phone:(+49$241$80$99197 • United$AirlinesRLogo:$CBS.$02$Feb$2016.$Web.
Mail:(info.iso@time.rwthRaachen.de <$http://www.cbsnews.com/news/whyRunitedR
continentalsRbizarreRnewRmashupRlogoRisRaRworkRofR
Web:(www.time.rwthRaachen.de/iso
genius/>
Red$Ocean$Strategy$III:$Generic$Strategy$II$
LEARNING OBJECTIVES
! To$review$Porter’s$three$generic$strategies$
(INTRODUCTION)
! To$discover$and$illustrate$the$nature$of$differentiation$strategies$
(DIFFERENTIATION)
! To$discuss$der$boundary$conditions$of$differentiation$strategies
(REFLECTION)
GENERIC(STRATEGY(|$Introduction
Reviewing$Porter’s$three$generic$strategies
Uniqueness$perceived$by$the$ Low$cost$
customer position
Industry
Strategic(Target
wide
Differentiation Cost(leadership
Particular$
segment$
Focus
©$Torsten$Oliver$Salge Source:$Porter (1998) 3

GENERIC(STRATEGY(|$Differentiation
Outlining$the$strategic$implications$of$differentiation$strategies
Customer
Value(Creation
“Providing$something$unique$
that$is$valuable$to$the$buyer$beyond$
simply$offering$a$low$price.”$(Porter,$1998)
Strategic
Implications
Customer Product
Segmentation Integrity
Value$can$be$provided$to$broad$ Consistency$of$offering$and$fit
or$narrow$customer$groups with$customer$values$and$preferences
Building$competitive$advantage$through$differentiation
Differentiation
“A$set$of$firm$choices$to$distinguish its$
offerings$from$those$of$its$competitors”
Tangible(Differentiation Intangible(Differentiation
pertains$to$observable(features$ pertains$to$unobservable(features$
! Technology$attributes ! Appeal$to$customer$values
! Performance$attributes ! Appeal$to$customer$image
! Quality$attributes ! Appeal$to$customer$status
! Design$attributes ! Appeal$to$customer$desire$for$exclusivity
! Service$attributes ! Appeal$to$customer$emotions
Example:$Tesla’s$battery$technology Example:$Tesla’s$environmental$mission
Identifying$differentiation$opportunities$along$the$value$chain
Imagine,(you(are(consultant(to(Tesla.(
Which(other(opportunities(for(differentiation(do(you(see?
How(would(you(proceed?
YOUR(VIEW
Identifying$differentiation$opportunities$along$the$value$chain
Serving(entire( Engaging(mission,( Delivering(superior(

electric(mobility engineering(culture( electric(driving(
ecosystem and(high(motivation experience
Firm(Infrastructure
Human(Resource(Management
Technology(Development
Inbound( Operations Outbound( Marketing( Service

Logistics Logistics &(Sales
Mass(production( Automated Online(sales(and( Reputation(for( Growing(charging(and(home(

of(superior( and(scalable(car( own(distribution environmental( battery(network
batteries assembly network focus
GENERIC(STRATEGY(|$Reflection
Discussing$the$boundary$conditions$of$differentiation$strategies
Resources(&(Skills Org.(Requirements Risk(Factors

! Technological$ ! Strong$coordination$ ! Cost$advantage$of$low]
innovation among$functions$in$ cost$competitors$might$
! New$product$ R&D,$product$ become$too$large
development development$and$ ! Buyers‘$appreciation$of$
marketing differentiating$factors$
! Strong$R&D
! Qualitative$metrics$and$ might$decline
! Reputation$for$quality$
incentives$instead$of$ ! Imitation$might$reduce$
! Long$tradition$in$the$ quantitative metrics perceived$
industry$or$unique$
! Ability$to$attract$highly$ differentiation
combination$of$skills$
skilled$labor,$scientists$
drawn$from$other$
or$creative$people
businesses
Boundary(Conditions(of(Differentiation(Strategies
CONTACT(US(

Innovation,$Strategy &$Organization Group$(ISO) <http://www.pdpics.com/preview/preview35/6833]
compass]map.jpg>
• Tesla$Logo:$4$April$2016.$Web.$
Kackertstraße 7 http://www.teslamotors.com
52072$Aachen
Germany
Phone:(+49$241$80$99197
Mail:(info.iso@time.rwth]aachen.de
Web:(www.time.rwth]aachen.de/iso

RWTHX - MTI006x - Week 1

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RWTHX - MTI006x - Week 1

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POSITIONING(THE(FIRM

low ENVIRONMENTAL( high

School+of Business+and Economics Images+used:

! Maintain$overall$ ! Identify$growth$ ! Grow

! Seek$cash$flow ! Invest$strongly ! Maximize$investment

! Prune$lines ! Identify$growth$ ! Evaluate$leadership$

! Position$to$divest ! Specialize segmentation

! Attack$competitor’s$ ! Specialize ! Specialize

! Time$exit$and$divest ! Consider$exit ! Consider$acquisitions

Exploit Extend rate,$GDP$growth$rate$

Business( Market(Share( Business( Investment( Net(Cash(

MATRICES EXTERNAL(FACTORS INTERNAL(FACTORS

McK Matrix Industry$attractiveness Relative$competitive$advantage

BCG(Matrix Market$growth Relative$market$share

Life_Cycle(Matrix Industry$maturity Business$position

Alternative(BCG(Matrix Differentiation$opportunities Extent$of$competitive$advantage

Profitability(Matrix Market$growth Profitability

Conception(of(Corporation Holding$company Common$core

Corporate(Composition Potentially$unrelated Closely$related

Key(Success(Factor BU$responsiveness MultiKbusiness$synergy

Focal(Type(of(Synergy Cash$flow$and$risk$optimization$ Resource$integration

Corporate(Management(Style Financial$control Strategy$development

Main(Task(of(Corporate(Centre Capital$allocation$and$control Synergy$management

Position(of(Business(Units Highly$autonomous Highly$integrated

Coordination(between(BUs Low,$incidental High,$structural

Growth(through(Acquisitions Simple$to$accommodate Difficult$to$integrate

School$of Business$and Economics Images$used:

©$Torsten$Oliver$Salge Source:$Porter (1998) 3

Generic(Strategy Key(Strategy(Elements Key(Requirements

Cost( Prices$depend$upon: ! Size$of$R&D$ ! Scale$of$plants ! Size$of$advertising$

Resources(&(Skills Org.(Requirements Risk(Factors

School$of Business$and Economics Images$used:

©$Torsten$Oliver$Salge Source:$Porter (1998) 3

Serving(entire( Engaging(mission,( Delivering(superior(

Inbound( Operations Outbound( Marketing( Service

Mass(production( Automated Online(sales(and( Reputation(for( Growing(charging(and(home(

Resources(&(Skills Org.(Requirements Risk(Factors

School$of Business$and Economics Images$used:

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