The six Porter’s Generic Strategies (Porter, 1985) are as follows.
Name and describe your Strategy. What is the rationale for this choice?
We are choosing The Cost Leadership Strategy
Porter’s generic strategies are ways of gaining competitive advantage – in other words, developing the “edge” that gets you the sale and takes it away from your competitors. There are two main ways of achieving this within a Cost Leadership strategy:
Increasing profits by reducing costs, while charging industry-average prices.
Increasing market share by charging lower prices, while still making a reasonable profit on each sale because you’ve reduced costs.
Each company starts with five products in five very different market segments. The five market segments are as follows. Low-end, Traditional, High-end. Size, and Performance. Which market segment is your initial priority and why?
We will be choosing Performance market segment because it is important to know what our customers think about the product and how it performs.
Team Management Plan
This section defines how the team will allocate assignments and talents. Students may have more than one role on the team.
Team Lead, President & CEO
|R & D, Vice President||Rachel Gibson|
|Marketing, Vice President||Sanela Hamidovic|
|Production, Vice President||Sanela Hamidovic|
|Finance, Vice President||Sanela Hamidovic|
|Quality Assurance||Shanay Alston|
|Human Resources||Shanay Alston|
|Shanay Alston||Problem Solving, Creativity, Working with others, Organizing, Efficient, multitasking||Weak with Presenting , Overthinking|
|Sanela Hamidovic||Creative, organized, presentations, budgeting, Human Resources knowledge||Public speaking|
|Rachel Gibson||Delegating, organizing, time management, and working with others||Overly critical of myself, having to critique another person’s work|
Our team will meet by conference at least once per week. We will also communicate by text and email.
Our team will utilize the discussion board in the group section and upload all document to the “file” section within Canvas.
|Log into Capsim||All|
|Competition Round 1||All|
|Competition Round 2||All|
|Competition Round 3||All|
|Competition Round 4||All|
|Potential Conflict||Recommended Solution|
Member misses a meeting
|We will talk to team member to see why they missed the meeting. From there, we will decide if missing the meeting was excusable.|
Member cannot be reached
|We will try contacting that member at least 2 times. If we cannot reach them after the third attempt, we will contact the professor.|
Member does not complete work on time
|We will talk with the member about the importance of being prompt. If the member turns in work late more than once, we will then need to collectively decide on recourse.|
Member work is unsatisfactory
|We will address issue with the team member and do our best to help fix the unsatisfactory work as a team.|
Member drops the course
|We will divide the work between members left on the team.|
Member has an unavoidable emergency that delays work
|We will pitch in and help and notify the professor if an extension may be needed due to the unforeseen emergency.|
How will you resolve minor disagreements?
|We will talk about all options and make best decision for the team.|
Who rules for major disagreements—team leader or majority rule?
How will you use the Peer Review at the end of the course? What are the consequences of unsatisfactory performance?
|We will review each member fairly and consider all circumstances. Consequences of unsatisfactory performance will be an email to the professor stating that fact.|
Canvas is temporarily offline or class time is cancelled
|We will email or text|
Other potential conflict
Create a list of rules to help you collaborate as a team, including expectations about meetings, communication, course work, conflict resolution, and so on, based on other elements of this charter.
Include a statement of ethical commitment each team member will adhere to which should address such items as making a good contribution to the team, good practices in following academic integrity, open, clear, and honest communication. Be sure to address how your team will ensure it follows ethical principles in decision making.
Ferries Vision Statement:
“Ferris team commits to promoting honesty and ethical conduct, including following academic integrity, open, clear, and honest communication, and being respectful to one another.”
What are some Ethical business practices your team may incorporate in your plan?
|Critical Success Factors||Reason for Importance||Steps Taken to Ensure Attainment|
|Retail Traffic||More sales as we get more traffic||We will advertise|
|Outside supplier||Product delivery||We will make sure we place orders on time|
|Technology||Purchasing is more completed online then in stores||Working App, working website|
Each team member is to write an individual commitment statement. If onsite, each team member will sign his or her commitment statement.
“Shanay, Rachel, and Sanela are committed to values which are reflected in our behavior expectations: recognition, ownership, communication, courtesy, enthusiasm, and teamwork. Each team member will strive to embrace these behaviors continuously.”
Shanay N. Alston
Rachel M. Gibson
Porter, Michael E., “Competitive Advantage”. 1985, Ch. 1, pp 11-15. The Free Press. New York.
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