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Competitive Rivalry and Competitive DynamicsMichael A.HittR.Duane IrelandRobert E.HoskissonChapter 5Chapter 512003 Southwestern Publishing CompanySouthwestern Publishing CompanySouthwestern Publishing CompanySouthwestern Publishing CompanySouthwestern Publishing CompanyStrategy ImplementationStrategy ImplementationChapter 13Chapter 13StrategicStrategicEntrepreneurshipEntrepreneurshipChapter 11Chapter 11OrganizationalOrganizationalStructure and Structure and ControlsControlsChapter 10Chapter 10CorporateCorporateGovernanceGovernanceChapter 12Chapter 12StrategicStrategicLeadershipLeadershipStrategy FormulationStrategy FormulationStrategicStrategicCompetitivenessCompetitivenessAbove-AverageAbove-AverageReturnsReturnsStrategic IntentStrategic IntentStrategic MissionStrategic MissionChapter 2Chapter 2The ExternalThe ExternalEnvironmentEnvironmentChapter 3Chapter 3The InternalThe InternalEnvironmentEnvironmentThe Strategic Management ProcessFeedbackFeedbackStrategic InputsStrategic InputsStrategic ActionsStrategic ActionsStrategic OutcomesStrategic OutcomesChapter 5Chapter 5Competitive RivalryCompetitive Rivalryand Competitiveand CompetitiveDynamics Dynamics Chapter 4Chapter 4Business-LevelBusiness-LevelStrategyStrategy2Definitionsl lCompetitorsCompetitors firms operating in the firms operating in the same marketsame market,offering,offering similar productssimilar products and targeting and targeting similar similar customerscustomersl lCompetitive rivalryCompetitive rivalry the ongoing set of the ongoing set of competitive actions and competitive actions and responsesresponses occurring between competitors occurring between competitors competitive rivalry influences an individual competitive rivalry influences an individual firms ability to gain and sustain competitive firms ability to gain and sustain competitive advantagesadvantages3Definitionsl lCompetitive behaviorCompetitive behavior the set of the set of competitive actionscompetitive actions and and competitive competitive responsesresponses the firm takes to build or defend its the firm takes to build or defend its competitive advantages and to improve its competitive advantages and to improve its market positionmarket positionl lCompetitive dynamicsCompetitive dynamics the the total set of actions and responsestotal set of actions and responses taken by taken by all firms competing within a marketall firms competing within a market4From Competitors to Competitive DynamicsCompetitorsCompetitors Through competitiveThrough competitivebehaviorbehavior Competitive actionsCompetitive actions Competitive responsesCompetitive responses To gain an advantageousTo gain an advantageousmarket positionmarket positionCompetitive DynamicsCompetitive Dynamics Competitive actions and responses taken by allCompetitive actions and responses taken by allfirms competing in a marketfirms competing in a marketCompetitiveCompetitiverivalryrivalryEngage inEngage inWhat results?What results?What results?What results?Why?Why?How?How?5個案:General Millsl早餐穀片市場早餐穀片市場l主要競爭者主要競爭者家樂氏家樂氏與與Post(Philip Morris旗下的旗下的Kraft)l競爭手法競爭手法價格價格/創新創新產品產品買一送一的促銷買一送一的促銷lGeneral Mills 的問的問題題現有競爭者現有競爭者潛在競爭者潛在競爭者供應商的貨源受污染供應商的貨源受污染l1995年年GM總裁宣佈總裁宣佈取消價格促銷戰術取消價格促銷戰術家樂氏跟進家樂氏跟進Post乘機爭奪市場乘機爭奪市場次要競爭者次要競爭者(私有品牌私有品牌)伺機大顯身手伺機大顯身手改良產品改良產品提高效率提高效率和零售商建立良好關係和零售商建立良好關係l大廠的競爭反應大廠的競爭反應減價減價私有品牌利潤受到壓私有品牌利潤受到壓縮而出售產品線縮而出售產品線6Effect of Competitive Rivalry on a Firms Strategies l lSuccess of a strategy is determined by:Success of a strategy is determined by:the firmcompetitive actions the firmcompetitive actions how well it how well it anticipatesanticipates competitors responses competitors responses to them to them how well the firm anticipates and how well the firm anticipates and respondsresponds to to its competitors initial actions its competitors initial actions l lCompetitive rivalryCompetitive rivalry affects all types of strategies affects all types of strategies most dominant influence is on the firms most dominant influence is on the firms business-level strategy or strategiesbusiness-level strategy or strategies.7A Model of Competitive RivalryCompetitive AnalysisCompetitive Analysis Market commonalityMarket commonality Resource similarityResource similarityDrivers of CompetitiveDrivers of CompetitiveBehaviorBehavior AwarenessAwareness MotivationMotivation AbilityAbilityInterim RivalryInterim Rivalry Likelihood of AttackLikelihood of Attack First mover incentivesFirst mover incentives Organizational sizeOrganizational size QualityQuality Likelihood of ResponseLikelihood of Response Type of competitive actionType of competitive action ReputationReputation Market dependenceMarket dependenceOutcomesOutcomes Market positionMarket position Financial performanceFinancial performancefeedbackfeedback8Competitive Rivalryl lFirms are Firms are mutually interdependentmutually interdependent one firms competitive actions have noticeable one firms competitive actions have noticeable effects effects on competitorson competitors one firms competitive actions one firms competitive actions elicit elicit competitive responses from competitorscompetitive responses from competitors competitorscompetitors feel feel each others actions and each others actions and responsesresponsesl lMarketplace success is a function of both Marketplace success is a function of both individual strategies and the individual strategies and the consequences of their useconsequences of their use9Competitor Analysisl lCompetitor analysisCompetitor analysis a a techniquetechnique firms use to understand their firms use to understand their competitive environment.Along with the competitive environment.Along with the general and industry environments,the general and industry environments,the competitive environment comprises the firms competitive environment comprises the firms external environmentexternal environment a technique used to help the firma technique used to help the firm understandunderstand its competitorsits competitors the first step to being able to the first step to being able to predictpredict competitors behaviorcompetitors behavior in the form of its in the form of its competitive actions and responsescompetitive actions and responses10Market Commonalityl lMarket Commonality is concerned withMarket Commonality is concerned with the the number of marketsnumber of markets with which a firm and a with which a firm and a competitor are jointly involvedcompetitor are jointly involved the the degree of importancedegree of importance of the individual of the individual markets to each competitormarkets to each competitorl lMost industries markets are somewhat Most industries markets are somewhat related in terms ofrelated in terms of technologiestechnologies core competenciescore competenciesl lMultimarket competitionMultimarket competition Firms competing in several marketsFirms competing in several markets11Resource Similarityl lResource similarityResource similarity the extent to which the firms tangible and the extent to which the firms tangible and intangible resources are comparable to a intangible resources are comparable to a competitors in terms of both competitors in terms of both type and amounttype and amount l lFirms with similar types and amounts of Firms with similar types and amounts of resources are likely toresources are likely to have similar strengths and weaknesseshave similar strengths and weaknesses use use similar strategiessimilar strategiesl lAssessing resource similarity can be Assessing resource similarity can be difficult if critical resources are intangible difficult if critical resources are intangible rather than tangiblerather than tangible 12A Framework of Competitor AnalysisMarketMarketCommonalityCommonalityHighHighLowLowLowLowHighHighResourceResourceSimilaritySimilarityThe shaded area represents The shaded area represents degree of market commonality degree of market commonality between two firmsbetween two firmsResource endowment BResource endowment BResource endowment AResource endowment AKEYKEYI III IIIIIIIIIVIV13Drivers of Competitive Actions and Responses:l lAwareness is the extent to which Awareness is the extent to which competitors competitors recognize the degree of recognize the degree of their mutual interdependencetheir mutual interdependence mutual interdependence results mutual interdependence results fromfrom market commonalitymarket commonality resource similarityresource similarityAwarenessAwarenessAwarenessDrivers of competitive behaviorDrivers of competitive behavior14MotivationMotivationDrivers of Competitive Actions and Responses:l lMotivation concerns the firms Motivation concerns the firms incentiveincentive to take actionto take action or to respond to a competitors or to respond to a competitors attackattack and relates to perceived gains and and relates to perceived gains and losseslossesAwarenessAwarenessDrivers of competitive behaviorDrivers of competitive behaviorMotivation15AbilityAbilityDrivers of Competitive Actions and Responses:l lAbility relatesAbility relates to each firms resourcesto each firms resources the the flexibilityflexibility these resources these resources provideprovidel lWithout available resources the firm Without available resources the firm lacks the abilitylacks the ability to attack a competitor to attack a competitor to respond to the competitors to respond to the competitors actionsactionsAwarenessAwarenessDrivers of competitive behaviorDrivers of competitive behaviorMotivationMotivationAbility16Drivers of Competitive Actions and Responses:l lA firm is A firm is more likely to attackmore likely to attack the the rival with whom it has rival with whom it has low market low market commonalitycommonality than the one with whom than the one with whom it competes in multiple marketsit competes in multiple marketsl lBecause of the high stakes of Because of the high stakes of competition under the condition of competition under the condition of market commonality,there is a high market commonality,there is a high probability that the attacked firm will probability that the attacked firm will respond to its competitors action in respond to its competitors action in an effort to protect its position in one an effort to protect its position in one or more marketsor more marketsMarketMarketcommonalitycommonalityDrivers of competitive behavior influenced byDrivers of competitive behavior influenced byMarket Commonality17ResourceResourcesimilaritysimilarityDrivers of Competitive Actions and Responses:l lThe greater the The greater the resource imbalanceresource imbalance between the acting firm and between the acting firm and competitors or potential responders,competitors or potential responders,the greater will be the delaythe greater will be the delay in in response by the firm with a resource response by the firm with a resource disadvantagedisadvantagel lWhen facing When facing competitors with greater competitors with greater resourcesresources or or more attractive market more attractive market positionspositions,firms should eventually,firms should eventually respond,no matter how challenging respond,no matter how challenging the responsethe responseDrivers of competitive behavior influenced byDrivers of competitive behavior influenced byMarketMarketcommonalitycommonalityResource Similarity18Competitive Rivalryl lCompetitive actionCompetitive action a a strategic or tactical actionstrategic or tactical action the firm takes to the firm takes to build or defend its competitive advantages or build or defend its competitive advantages or improve its market positionimprove its market positionl lCompetitive responseCompetitive response a a strategic or tactical actionstrategic or tactical action the firm takes to the firm takes to counter the effects of a competitors counter the effects of a competitors competitive actioncompetitive action19Strategic and Tactical Actionsl lStrategic action or a strategic responseStrategic action or a strategic response a market-based move that involves a a market-based move that involves a significant commitment of organizational significant commitment of organizational resourcesresources and is difficult to implement and and is difficult to implement and reversereversel lTactical action or a tactical responseTactical action or a tactical response market-based move that is market-based move that is taken to fine-tune a taken to fine-tune a strategystrategy;it involves fewer resources and is;it involves fewer resources and is relatively easy to implement and reverserelatively easy to implement and reverse20Factors Affecting Likelihood of Attack:l lFirst movers allocate funds forFirst movers allocate funds for product product innovationinnovation and and developmentdevelopment aggressive aggressive advertisingadvertising advanced advanced research and research and developmentdevelopmentl lFirst movers can gain First movers can gain the the loyalty loyalty of customers who may of customers who may become committed to the firms become committed to the firms goods or servicesgoods or services market sharemarket share that can be difficult that can be difficult for competitors to take during for competitors to take during future competitive rivalryfuture competitive rivalryFirst moverFirst moverincentivesincentivesFirst Mover Incentives21Second MoverSecond Mover跟隨第一行動者的競爭性行動而行動的企業跟隨第一行動者的競爭性行動而行動的企業(可可享有搭便車效果享有搭便車效果)第二行動者通常是的第一模仿行動者第二行動者通常是的第一模仿行動者第二行動者掌握部分顧客與顧客忠誠第二行動者掌握部分顧客與顧客忠誠第二行動者掌握部分顧客與顧客忠誠第二行動者掌握部分顧客與顧客忠誠避免部分第一行動者所面臨的未知市場風險避免部分第一行動者所面臨的未知市場風險避免部分第一行動者所面臨的未知市場風險避免部分第一行動者所面臨的未知市場風險成功與否決定於反應的速度成功與否決定於反應的速度(愈快與有利愈快與有利)必須擁有模仿的必要能力必須擁有模仿的必要能力必須擁有模仿的必要能力必須擁有模仿的必要能力第二行動者第二行動者第二行動者第二行動者22SizeSizeFactors Affecting Likelihood of Attack:l lSmall firmsSmall firms are more likely are more likely to launch competitive actions to launch competitive actions to be quicker in doing soto be quicker in doing sol lSmall firms are perceived asSmall firms are perceived as nimble and flexiblenimble and flexible competitors competitors relying on relying on speed and surprisespeed and surprise to to defend their competitive defend their competitive advantages or develop new ones advantages or develop new ones while engaged in competitive while engaged in competitive rivalryrivalryl lSmall firms have the flexibility needed Small firms have the flexibility needed to launch a to launch a greater variety of greater variety of competitive actionscompetitive actionsFirst moverFirst moverincentivesincentivesSize23Factors Affecting Likelihood of Attack:l lLarge firms are likely to initiate more Large firms are likely to initiate more competitive actions as well as competitive actions as well as strategic actionsstrategic actions during a given time during a given time periodperiodl lLarge organizations commonly have Large organizations commonly have the the slack resourcesslack resources required to required to launch a larger number of total launch a larger number of total competitive actionscompetitive actionsFirst moverFirst moverincentivesincentivesSizeSizeSize“Think and act big and well get smaller.Think and Think and act big and well get smaller.Think and act small and well get bigger.”act small and well get bigger.”-Herb Kelleher,Herb Kelleher,Former CEO,Southwest Airlines Former CEO,Southwest Airlines24QualityQualityFactors Affecting Likelihood of Attack:l lQuality exists when the firms goods Quality exists when the firms goods or services meet or exceed or services meet or exceed customers expectationscustomers expectationsFirst moverFirst moverincentivesincentivesSizeSizeQualityl lProduct quality dimensions includeProduct quality dimensions include PerformancePerformance性能性能性能性能 FeaturesFeatures特徵特徵特徵特徵 FlexibilityFlexibility彈性彈性彈性彈性 DurabilityDurability耐久性耐久性耐久性耐久性 ConformanceConformance構造構造構造構造 ServiceabilityServiceability有用性有用性有用性有用性 AestheticsAesthetics美感美感美感美感 Perceived qualityPerceived quality品質知覺品質知覺品質知覺品質知覺25QualityQualityFactors Affecting Likelihood of Attack:l lQuality exists when the firms goods Quality exists when the firms goods or services meet or exceed or services meet or exceed customers expectationscustomers expectationsFirst moverFirst moverincentivesincentivesSizeSizeQualityl lService quality dimensions includeService quality dimensions include TimelinessTimeliness及時及時及時及時 CourtesyCourtesy殷勤殷勤殷勤殷勤 ConsistencyConsistency一致一致一致一致 ConvenienceConvenience方便方便方便方便 CompletenessCompleteness完整完整完整完整 AccuracyAccuracy準確準確準確準確26Factors Affecting Likelihood of Responsel lFirms study three factors to predict how a Firms study three factors to predict how a competitor is likely to respond to competitor is likely to respond to competitive actionscompetitive actions type of competitive actiontype of competitive action reputationreputation market dependencemarket dependence27Factors Affecting Likelihood of Response:l lStrategic actions receive strategic Strategic actions receive strategic responsesresponsesl lTactical responses are taken to Tactical responses are taken to counter the effects of tactical actionscounter the effects of tactical actionsl lStrategic actions Strategic actions elicit fewerelicit fewer total total competitive responsescompetitive responsesl lA competitor likely will respond A competitor likely will respond quickly to a tactical actionquickly to a tactical actionl lThe time needed to implement and The time needed to implement and assess a strategic action delays assess a strategic action delays competitors responsescompetitors responsesType ofType ofcompetitivecompetitiveactionactionType of Competitive Action28ReputationReputationFactors Affecting Likelihood of Response:l lAn An actoractor is the firm taking an action is the firm taking an action or responseor responsel lReputation is the Reputation is the positive or negative positive or negative attributeattribute ascribed by one rival to ascribed by one rival to another based on another based on past competitive past competitive behaviorbehaviorl lThe firm studies responses that a The firm studies responses that a competitor has taken competitor has taken previouslypreviously when when attacked to predict likely responsesattacked to predict likely responsesType ofType ofcompetitivecompetitiveactionactionReputation29市場領袖較易被模仿市場領袖較易被模仿市場領袖較易被模仿市場領袖較易被模仿高風險的企業行動較少被模仿高風險的企業行動較少被模仿高風險的企業行動較少被模仿高風險的企業行動較少被模仿價格掠奪者較少被模仿價格掠奪者較少被模仿價格掠奪者較少被模仿價格掠奪者較少被模仿行動者的名聲行動者的名聲30MarketMarketdependencedependenceFactors Affecting Likelihood of Response:l lMarket dependence isMarket dependence is the extent to which a firms the extent to which a firms revenues or profitsrevenues or profits are derived are derived from a particular marketfrom a particular marketl lIn general,firms can predict that In general,firms can predict that competitors with competitors with high market high market dependence are likely to respond dependence are likely to respond stronglystrongly to attacks threatening their to attacks threatening their market position(market position(比較富士軟片攻擊美國比較富士軟片攻擊美國比較富士軟片攻擊美國比較富士軟片攻擊美國市場與台灣市場市場與台灣市場市場與台灣市場市場與台灣市場)Type ofType ofcompetitivecompetitiveactionactionReputationReputationMarket Dependence31Competitionl lCompetitive DynamicsCompetitive Dynamics competitive dynamics concerns the competitive dynamics concerns the ongoing ongoing actions and responsesactions and responses taking place among taking place among allall firms competing within a market for firms competing within a market for advantageous positionsadvantageous positionsl lCompetitive RivalryCompetitive Rivalry building and sustaining competitive building and sustaining competitive advantages are at the advantages are at the core of competitive core of competitive rivalryrivalry competitive advantages are the link to an competitive advantages are the link to an advantageous market positionadvantageous market position32Strategic Conduct is DynamicA firms strategic conduct is dynamic in A firms strategic conduct is dynamic in naturenatureA
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