Strategic Planning in Leadership
Question
Class:
Strategic Planning in Leadership
Paper:
Find a TED Talk that illustrates or discusses this week’s readings and post the link for your classmates to view. Provide your rationale, including support from our readings, as to why this TED Talk is important and related to this week’s readings.
Readings:
Bryson, Chapter 5 (p. 150-184)
Porter, M. E. (2007). Understanding industry structure. Harvard Business School No. 707-493. Boston, MA: Harvard Business School Publishing. Understanding Industry Structure HBR.pdf
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Solution
Strategic Planning in Leadership
The TeD talk on, “Why do competitors open their stores next to one another? -by Jac de Haan is all about the competitive strategy. The scenario of firms locating near one another is quite common among banks, food vendors, and vast retailers. Even though it is non-sensical, but there seems to be a valid reason behind it. Fast forward, business premises strive to locate themselves at the epicenter and near their target market or customers.
Based on the readings, the talk is significant and has some relation with porters five forces strategy. The analysis of these concepts shows supplier-buyer power, competitive rivalry, substitution threats, and new entry threats (Porter, (2007). To be more specific, the talk relates to competitive rivalry. In this case, it is defined by the number of competitors and their power to attain a competitive advantage over the rest. A company’s power in a specific locality is undercut by the number of rivals and commodities available within the same region. As per the TED talk, suppliers and buyers will have to seek out an organization offering high-quality deals at standard prices with companies in the same area. That has an immense effect on the others since they will lose a large number of customers.
Therefore, for a company to sustain this level of competition, they need to offer their clients with highly-differentiated products that are unique. Apart from that, their commodities and services must meet the target consumer preferences and tastes (Bryson, 2018). Besides, for a company to succeed, they can develop new or substitute products that perform the same function as the original one. In this case, the customers will have a variety to choose from, and at least the company will reduce the competition.
References
Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement. John Wiley & Sons.
Haan, Jac de. “Why Do Competitors Open Their Stores next to One Another?” TED, www.ted.com/talks/jac_de_haan_why_do_competitors_open_their_stores_next_to_one_another/up-next.
Porter, M. E. (2007). Understanding industry structure. Harvard Business School, 13, 1-16.Porter, M. E. (2007). https://web.uniroma1.it/dip_management/sites/default/files/Understanding%20Industry%20Structure%20HBR.pdf
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