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Competing to be Unique
| Date post: | 12-May-2015 |
| Category: |
Business |
| Upload: | chris-moore |
| View: | 475 times |
| Download: | 2 times |
Competing to be Unique
BEING THE BEST - Best Practice
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Processes and Systems
Client response times Student enrolment process Resource Management Teacher recruitment & CPD Accommodation allocation Data management Timetabling, occupancy CRM Course design
NOW WHAT?
OPERATIONAL EXCELLENCE
Maximising resources
Reducing wastage
Optimising efficiency
Competitive Convergence
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Competing for Value
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Price is what you pay. Value is what you get.
Beware the 5 Forces
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The 5 Forces
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Force 1 – Supplier Bargaining Power
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Force 2 – Buyer Bargaining Power
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Sales
DirectReferralsAgencies
Force 3 – Threat of Substitutes
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• Elearning
• Mlearning
• Games-based learning
• App-based learning
• Video-based learning
• Peer-to-peer learning
• Virtual worlds learning
• Webex, skype, gotomeeting..
• MOOCs
• Better in-country language teaching
• Google Translate
KERRR–CHING!!!
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$10m
€3.5m
$15m $8.5m
Force 4 – Threat of New Entrants
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LOW BARRIERS TO ENTRY
Rooms IT systems Teachers Accommodation very few ‘sunk costs’ HIGHER BARRIERS
Accreditation Relationships with agents Crowded key locations Creating a USP
Force 5 - The Competition…
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Introducing… Strategy
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“Strategy can be viewed as building defenses against the competitive forces or finding a position in the industry where the forces are weakest.” Michael Porter
“You don’t have a real strategy if it doesn’t pass these two tests: that what you’re planning to do really matters to your existing and potential customers; and second, it differentiates you from your competition.” Verne Harnish
Creating Unique Value – Your UVP
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Your Unique Value Proposition:
What are you going to sell?
Who to?
Why are they going to buy from you?
What’s the U in your USP?
Creating Unique Value – Your UVC
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Your Unique Value Chain
How are you going to realise the UVP?
How will you configure your resources most effectively?
How will bring external partners and suppliers on side?
and…
How will you stop others from copying you?
Strategic Choice 1: DIFFERENTIATION
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Strategic Choice 2: FOCUS
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“2 inches wide, 2 miles deep”
Just say No!
Strategic Choice 3: COST MANAGEMENT
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Strategic Choice 3: COST MANAGEMENT
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Aligning the Company
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Suppliers Course Delivery
SalesMarketing
Buyers
Human Resources
Company Infrastructure
Technology
Procurement
Primary Inputs
Support structures
Communicating the Strategy
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KISS!
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To summarise
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1. Operational excellence – yes. Operating in the same way as everyone
else – no.
2. There is no point in size or growth if those are profitless.
3. Competitive advantage is about creating unique value for customers. If you have a competitive advantage, it will show up on your P&L.
4. A distinctive value proposition is essential for strategy. But if it doesn’t require a specifically tailored value chain to deliver it, it will have no strategic relevance.
5. Don’t feel you have to ‘delight’ every possible customer out there. Say No sometimes.
6. Focus, differentiate, lead on costs, align the organisation, execute brilliantly, measure, improve and deepen what you do.
To continue the conversation..
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t: +44 7788 294853
s: chris.moore.slc
w: www.specialistlanguagecourses.com
