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Encyclopedia > Strategic group

A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies. For example, the fast-food industry can be portrayed as consisting of several strategic groups. The number of groups within an industry and their composition depends on what dimensions you use to define the groups. Strategists often use a two dimensional grid to display the position of each company along to the two most important dimensions. Strategic management is the process of specifying an organizations objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. ... A business model (also called a business design) is the mechanism by which a business intends to generate revenue and profits. ...


The term was coined by Hunt (1972) in his analysis of the appliance industry where he discovered less competitive rivalry than industry concentration ratios suggest there should be. He attributed this to the existence of subgroups within the industry that effectively reduce the number of competitors in each market.


Michael Porter (1980) developed the concept and applied it within his overall system of strategic analysis. He explained strategic groups in terms of what he called "mobility barriers". These are similar to the entry barriers that exist in industries, except they apply to groups within an industry. Because of these mobility barriers a company can get drawn into one strategic group or another. Strategic groups are not to be confused with Porter's generic strategies which are internal strategies and do not reflect the diversity of strategic styles within an industry. Michael E. Porter (born 1947) is the Bishop William Lawrence University Professor, based at Harvard Business School where he leads the Institute for Strategy and Competitiveness. ... Michael Porter has described a category scheme consisting of three general types of strategies that are commonly used by businesses. ...


See also

Strategic management is the process of specifying an organizations objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. ... Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. ... This is a list of articles on general management and strategic management topics. ...

References

  • Hunt, M. (1972) "Competition in the Major Home Appliance Industry", doctoral dissertation, Harvard University, 1972.
  • Porter, M. (1980) Competitive Strategy, Free Press, New York, 1980.

  Results from FactBites:
 
Strategic group - Wikipedia, the free encyclopedia (353 words)
A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies.
The number of groups within an industry and their composition depends on what dimensions you use to define the groups.
Strategic groups are not to be confused with Porter's generic strategies which are internal strategies and do not reflect the diversity of strategic styles within an industry.
Strategic Points Group: Privacy Statement (2106 words)
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