The Master Plan: Advanced Business Strategy
Chapter 8. The Master Plan: Advanced Business Strategy
Strategy is not a fixed map; it is a “Living Compass.” In Chapter 2, we learned the basics of SWOT and Porter’s Five Forces. Today, we go deeper. We will explore how to find the hidden “Gold Mines” within a company and how to create entirely new markets where the competition is irrelevant.
Welcome to the pursuit of the Sustainable Competitive Advantage.
1. Finding Inner Strength: The VRIO Framework
A good strategy doesn’t just look outside; it looks inside. To see if a company’s resource can be a source of competitive advantage, we ask four questions:
| Question | Meaning | Result if 'Yes' |
|---|---|---|
| **Value** | Does it provide value to customers? | Parity (Average) |
| **Rarity** | Is it rare among competitors? | Temporary Advantage |
| **Inimitability** | Is it hard for others to copy? | Sustainable Advantage |
| **Organization** | Is the company organized to capture value? | **Core Competence** |
2. Escaping the Blood: Blue Ocean Strategy
Most companies fight in a “Red Ocean”—a saturated market where rivals tear each other apart for a tiny bit of profit. The goal of a master strategist is to find the Blue Ocean.
Which factors that the industry takes for granted should be eliminated?
Which factors should be reduced well below the industry standard?
Which factors should be raised well above the industry standard?
Which factors should be created that the industry has never offered?
Blue Ocean Strategy = Value Innovation. You don’t just beat the competition; you make it irrelevant by creating a new value curve.
3. The Art of Positioning: Cost vs. Differentiation
Michael Porter argued that a firm must choose its “Generic Strategy” or risk being “stuck in the middle.”
| Scope | Low Cost | Unique Value |
|---|---|---|
| **Broad Market** | Cost Leadership (e.g., Walmart) | Differentiation (e.g., Apple) |
| **Narrow Market** | Cost Focus (e.g., Budget Airlines) | Differentiation Focus (e.g., Ferrari) |
The Strategic Choice: A company cannot be all things to all people. Strategy is “Making trade-offs”—deciding what NOT to do is just as important as deciding what to do.
4. Conclusion: Navigating the Future
Advanced strategy is about finding the unique intersection of what the market wants and what only you can provide. By constantly applying VRIO and looking for Blue Oceans, you ensure that your company doesn’t just survive, but leads.
📖 참고문헌
- [Competitive Advantage] - Michael Porter: The building blocks of modern strategic management.
- [Blue Ocean Strategy] - Kim and Mauborgne: The revolutionary guide to creating uncontested market space.
- [Good to Great] - Jim Collins: An analysis of why some companies make the leap and others don’t.
Next time, we wrap up our business series with Global Business and Future Trends—exploring how to lead in a world without borders.
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