Mgts7301 - lecture 7 - business model analysis
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Covers business model theory, including Porter's Activity System maps and the strategy diamond.
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Mgts7301 - lecture 7 - business model analysis
- 1. Lecture 7 Business Model Analysis Lecturer: Dr. Preston Teeter MGTS7301 Tools and Techniques for Business Analysis
- 2. Outline • Simulation preparation • Business model analysis • Final exam overview
- 4. Simulation • 3-part assessment – Balanced scorecard – 10 marks – Peer-evaluation – 10 marks – Video essay – 10 marks • What did you learn from the simulation experience? • What were the most valuable analytical tools in the simulation? • Based on your simulation experience, what do you need to get better at during your business degree at UQ?
- 5. Event Where Decisions Due Practice Round 1 In class After 120 minutes of class Practice Round 2 (optional) Outside of class 22 Sept 5pm Practice Round 3 (optional) Outside of class 26 Sept 5pm Competitive Simulation Begins! System resets on 27 Sept 8am Competitive Round 1 Outside of class Class start time, first class after the break Round 2 In class After 120 minutes of class Round 3 Outside of class Class start time, 2nd week after break Round 4 In class After 80 minutes of class Round 5 In class After 160 minutes of class Round 6 Outside of class Class start time, final week of class Round 7 In class After 80 minutes of class Round 8 In class After 160 minutes of class
- 6. Simulation • Do’s – Form a strategy! – Have fun! – Ask questions during class, in discussion forum or email Capsim – Create roles for each group member and coordinate decision- making process – Hold all group members accountable • Don’ts – Make random decisions – Get frustrated – Email about problems – Ask for strategic advice – Ask one person to make all final decisions – Complain in final class about group member or simulation results
- 8. Business model Consider the circus industry. Ringling Brothers and Barnum & Baily, known as ‘The Greatest Show on Earth’, was founded in 1871 and is by far the largest and most well known circus in history. Back in the day, their circus would roll into town in a mile-long train of 60 cars. See video
- 11. Business model But the circus industry is far from dead. Montreal-based Cirque du Soleil, founded in 1984, is now the largest theatrical producer in the world. Founded by two street performers, Cirque du Soleil is now regarded as the contemporary circus. Watch video
- 14. Business model So how has Cirque Du Soleil succeeded when others have failed? Answer the following: 1. What are the five elements of the strategy diamond? Describe each and the overall argument of the diamond. 2. Apply the strategy diamond to Cirque Du Soleil. How can you explain their success? Please also exchange contact information with your group members!
- 15. Business model What the Organisation Does Supply What Customers Expect Demand Value Creation for Customers AND Value Capture for the Organisation Business Model
- 20. Value Canvas Analysis: Choices by Cirque Du Soleil Price Star performers Animal shows Aisle concessions Multiple show arenas Fun and humor Thrills and danger Refined watching environment Original themes Original costumes Original music & dance Multiple but unique shows Smaller Regional Circuses Ringling Bros. And Barnum & Bailey Cirque du Soleil High Low EXCEL Parity Not to Compete
- 21. Business model What about Westfield shopping centres? What is their over-riding economic logic and how do their strategic elements provide fit? Consider their 1) arenas, 2) vehicles, 3) differentiators and 4) staging. Who exactly are their customers? Watch video 1 Watch video 2
- 23. Final exam • 40% of course grade • 2-hour exam during exam period • Closed book, no notes, no calculators • Short answer format – 10 cases/situations during lectures 3-7 – 5 will be on your final exam – Answer all questions
- 24. Final exam 1. Asian financial crisis (4 C Framework) 2. Wal-Mart in Germany (Hofstede/Hall) 3. Big 3 auto firms (PESTEL) 4. Airline industry (5 forces) 5. ABC Learning (Generic strategies) 6. CSL (Resource-based view) 7. Amazon (Balanced scorecard) 8. GE (Portfolio matrices) 9. Tesla (3 horizons and real options) 10.Cirque du Soleil (Business models)
- 25. Final exam • Do’s – Study early – Practice each question – Write full sentences, make your meaning clear – Study in a team – Be confident and enjoy learning – Ask questions in discussion forum or visit during consultation hours • Don’ts – Cram – Answer in short fragments, long lists – Sit up all night trying to memorise trivial details – Stress and worry – Email coordinator about exam content/queries
- 26. Questions?
Notes de l'éditeur
- See also http://www.latimes.com/opinion/op-ed/la-oe-allen-ringling-circus-20170522-story.html
- https://qz.com/366601/this-is-how-cirque-du-soleil-reinvented-the-circus/ https://www.theguardian.com/stage/2009/sep/04/cirque-du-soleil-circus
- Activity-system maps, such as this one for Southwest Airlines, show how a company’s strategic position is contained in a set of tailored activities designed to deliver it. In companies with a clear strategic position, a number of higher -order strategic themes (shaded) can be identified and implemented through clusters of lightly linked activities (unshaded).
- Value creation & capture choices described in terms of a ‘system of activities’ that primarily emphasises fit (Hambrick and Fredrickson, 2001) The overall argument of the diamond is that strategy must be an integrated whole. In other words, the different elements must be interrelated and self-reinforcing. Furthermore, the strategy must ‘fit’, meaning it must fit the company, the environment, the industry and other relevant aspects of the business. Arenas: Questions concerning where will the company be active, such as choosing which product categories, which market segments, which geographical areas, etc. Vehicles: Questions concerning how the company will reach its strategy, meaning, will they do it alone, enter into a joint venture, license their brand, acquire other firms, etc. Differentiators: Questions concerning how the company will differentiate itself from competitors, such as what will its image be, will the company customize, price points, better reliability, etc. Staging: Questions concerning the speed and sequence of moves, such as the speed of expansion, the sequence of initiatives, etc. Economic Logic: Explains where returns (profits) will come from, such as through scale advantage, scope and replication advantages, unmatchable service, proprietary product features, etc.
- Customer Value Proposition Analysis Different customers have different perceptions of value – understanding which dimensions of value are important to which customer segments is the foundation of Business Model development Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, Kim and Mauborgne argue that companies can succeed by creating "blue oceans" of uncontested market space, as opposed to "red oceans" where competitors fight for dominance, the analogy being that an ocean full of vicious competition turns red with blood.
- The Westfield Group had origins in the western suburbs of Sydney. The first development was named "Westfield Place", and opened in July 1959 in Blacktown.[4] The name Westfield is derived from "west" related to the West Sydney location, and "field" due to having located on subdivided farmland. The centre was opened by John Saunders and Frank Lowy.[4] The company was floated on the Australian Stock Exchange in 1960 and built another five centres in New South Wales before expanding into Victoria and Queensland in 1966-67.[5] For the first half of 1971, Westfield reported earnings of $886,382.[6] Discuss unmet consumer needs, blue ocean, the number of problems with shopping in Australia