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Flashcards in Reshaping Industry Deck (14)
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1
Q

Michael Porters five forces

A
  1. Bargaining Power of Buyer
  2. Rivalry among competitors
  3. Threat of new entries
  4. Threat of substitutes
  5. Bargaining power of suppliers
2
Q

Five forces
1. bargaining power

GE aviation

A

smart connected products

  • product differentiation - moving away from pricing
ability to:
customer segmentation
customization
better pricing to capture value
value added services
closer customer relation  

increase buying power by sharing knowleged and let them compare

GE Aviation

3
Q

Redefining industry boundaries

A
increasing capabilities 
             I
reshape competition within industries 
         I
 expand industry boundaries
                    I
change in competition 

from
product - smart products- smart coxnnected products- product system - system of system

4
Q

Five forces
2. rivalry among competitors

Babolat tennis rackets

A

product differentiation
customized added values
broaden value proposition beyond product per se…
data enhance service offering

price migration - higher fixed prices lower variable costs

5
Q

Five forces
3. threat of entrants

thermo fisher

A
  • high fixed costs
  • entrance barrier high if a complete new products needs to be develop
  • if smart connected product leapfrog the asset and strength of incumbents
6
Q

Five forces
5. bargain power of supplier

open automotive alliance

A

shaking up traditional supplier relation
physical product can be discommoded or replaced
software no need for

7
Q

smart connected products

net effect

A
  1. first mover advantages
  2. single and multi product advantage
  3. start ups with less legacy, size, culture, fully smart connect products development
8
Q

smart connected products

competitive advantage

A

either price premium or operat at lower cost as his rivals
= create superior profitabiltiy and growth

FOUNDATION for competitive advantage =
OPERATIONAL EFFECTIVENESS

define a distinctive strategic positioning
deciding what to do and what NOT to do

9
Q

smart connected products

change value proposition

A

Challenge:
Boundaries between products and services blur
• Customers demand integrated and intuitive solutions anytime and anywhere
• Traditional competitive advantages erode
• Low entry barriers grant competitors easy access
• Customers have low switching costs

Possible Approach
Products enriched with digital technologies
• Additional hybrid product-service bundles • Independent service solutions
• Development of configurable product/service modules • Extension of value chain activities (e.g. from mere B2B to B2C and B2T business)

10
Q

smart connected products

Creating new value with data

data sources: External, smart connect, enterprise

data analytics:

descriptive
diagnostic
predictive
prescriptive

deeper insight

business
customer
partners

A

data reveals insight
= product and service optimization and product performance

more-sophisticated analytics, applied to product data

Manufacturing goes beyond production of the physical object

The job of ensuring IT security now cuts across all functions.

new staff with different qualifications

11
Q

smart connected products

data integration

A

Challenges

  • amount of data
  • organize and integrate
  • multitude of external and internal data source

Approaches:

advanced analytics
- gain customer insights
- improve customer experiences
- forecast behavior
- digital customer relationship
-
12
Q

smart connected products

data integration

A

Challenges

  • amount of data
  • organize and integrate
  • multitude of external and internal data source

Approaches:

organized meta data , social data , machine to machine data

  • data warehouse and BI
  • data management proceses
13
Q

smart connected products

A new organizational structure

A

new ways of collaboration to develop skills
structure need to be evolved with functional unis for data management

DEVOP

14
Q

smart connected products

Organizational Agility

A

Challenge

Development of the ability to transform digital opportunities in successful products and services faster than competitors.
Challenges in the Digital Economy:
- Rapid appearance of digital technologies
- Extremely fast adaption by the end-customers
- Ambitious customer requirements every time
Low entry barrier for new competitors
How can organizations gain agility

approaches:

Approach:
• Product and service portfolio (e.g. modularization and standardization of services, products, and IT components)
• Organizational setup (e.g. flat hierarchies, decentralization, social collaboration, Lean Start-up, Digital Unit)
• Project approach (e.g. agile project management)
• IT (e.g. solid core/flexible boundary, bimodal IT)