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OverviewOverview
4
Summarization of Chapter 131
2
3
5
Case Analysis (ROOM & BOARD)
S.W.O.T Analysis
5 Porter Forces
Balance Scorecard
7
Analyzed Strategies & How It Impacts Performance6
Recommendation New Strategies
The Strategic Management ProcessThe Strategic Management Process
Chapter SummarizationChapter Summarization
Entrepreneurship
Strategic Entrepreneurship
Corporate Entrepreneurship
Chapter 13: Entrepreneurial Implications for Strategy
Identify entrepreneurial opportunities without being immediately constrained by the resources they control.Identify entrepreneurial opportunities without being immediately constrained by the resources they control.
Taking entrepreneurial actions using a strategic perspective. Firm engaging in strategic entrepreneurship & to continuously find new opportunities that it can try to exploit through innovations.
Taking entrepreneurial actions using a strategic perspective. Firm engaging in strategic entrepreneurship & to continuously find new opportunities that it can try to exploit through innovations.
Application of entrepreneurship within ongoing, established organizationApplication of entrepreneurship within ongoing, established organization
Chapter SummarizationChapter Summarization Chapter 13: Entrepreneurial Implications for Strategy
International Activities
Innovative Activities
Approach to produce Innovation
Firm’s domestic market to globalFirm’s domestic market to global
Invention, Innovation, ImitationInvention, Innovation, Imitation
Internal Innovation, cooperative strategy, innovation through acquisitionsInternal Innovation, cooperative strategy, innovation through acquisitions
Room & Board
national retail storesan annual catalog a Web site
SWOT Analysis SWOT Analysis WEAKNESSES
Depend totally on American designer & supplier.
Product only for American customers.
Lack of advertising.
Less number of store.
Low volume in phone & Web sales.
STRENGTHS
Long-term business relationship with vendors : Create their own supply chain (40 diff. vendor) & delivery centre.
Lower employee turnover – full time & pay based on salary.
Positive corporate culture – trust, respect, relationship, transparency.
Employee Benefits – offered added value (facility, programs & service).
Multichannel sales approach.
THREATS
Small furniture retailer – copy the model & offer low price.
Regulatory environment across the globe – vary – the use of natural resources.
SWOT Analysis SWOT Analysis
OPPURTUNITIES
Expand market - Europe & Asia
Development of technology – innovative in online sales.
Strategic alliances – university & international firm – designing ; green materials for furniture.
5 Forces Analysis5 Forces Analysis
Rivalry Among Existing Competitor
HighCompetition from direct competitors
Eg: Reach & Crate, Barrel
Bargaining Power of BuyersHigh
Buyer can switch to competitors brand – offering
same products
Bargaining Power of SupplierLow
R&B create their own supply chain, vendor – true relationship allow R&B
to set annual goal of its product in stock – quick delivery
Threats of Substitutes Low
Offer different from traditional furniture, used high Q hardwoods, granite & steel
– other company may use different material
Threats of New EntrantsLow
Difficult to entry – huge capital requirement & highly developed
supply chains.
Balance ScorecardBalance ScorecardFinancial
fully integrated
Salesmultichannel
sales approach
disavowed debt and equity-growth financing
Embraced a unique multiple-stakeholders
Same pricing model for everyone
• Customers are mainly consuming high-quality and exclusive design of furniture and less concerning price
• Focus on interaction with the customer from the beginning to the end
• Gain customer satisfaction more than 96 percent
Customer
Balance ScorecardBalance Scorecard
Internal Business Process
Supply
Chain
Culture &
Facilities
Store Format
Service Offering &
Distribution System
Balance ScorecardBalance Scorecard
• Has its own supply chain
• More than 85% in US• Discuss needs and
share financial info
• Own delivery centre • Partnership with
Minneapolis Comp.
• Own its sales locations• Plan to expand more in
US• Freestanding sites with
ample parking• Easy access• Decorate with self design
and furniture
• Create harmony and good environment
• Share accountability with employees
• More facilities for employees
• trust, respect, relationships, transparency, entrepreneurial ownership and the importance of the balanced life.
Balance ScorecardBalance ScorecardLearning & Growth
• Room & Board help suppliers, employees learning more company’s strategic information and action.
• based on the principle of trust, respect, relationships, transparency, entrepreneurial ownership of one’s job and career and the importance of a balance life.
• The Guiding Principles has introduced to employees and leadership team.
• Training its own staff for delivery is to transfer good quality service to customers.
Year Location1986 Skokie, IL1989 Edina, MN1991 Denver, CO1991 Culver City, CA1993 Chicago, IL1997 Oak Brook, IL2002 South Coast Plaza Village, 2004 SoHo, NY2005 San Francisco, CA
Growth
Entrepreneurial mind-set
Clear expectation
Analyzed Strategies & How It Impacts PerformanceAnalyzed Strategies & How It Impacts Performance
Impact•Employees feel happy when spending time at work and can dealt well with customersLow employee turnover
StrategyCulture based on trust respect, relationship, transparency, entrepreneurial ownership of one’s job and career.
Impact
•This helped the employees to
understand their connection to
its business
•Understand the firm’s goal
Strategy Guiding principles for
employees and leadersEmployees were shown annual
strategy and detail financial
package every month
Impact • Employees became one of the competitive advantage for the firm
StrategyInnovations in company
culture, supply chain, employee
development, leadership team,
delivery center, and stores.
Good Culture
Good Benefit Quality
Analyzed Strategies & How It Impacts PerformanceAnalyzed Strategies & How It Impacts Performance
Impact•Contributing to quick deliveries and can control over product quality•Reduced the risk of supply chain disruption
StrategyMet with its vendors frequently to plan growth, discuss needs and share financial data
Impact
Maintain and attract new
customers
Strategy 85% of the company’s product
were made in the United Sates
Impact employees were happier and
served better service to
customer
Strategy Employees given Investment
advice at no cost extensive physical fitness
facilityNo rules for personal leave
and sick pay
Good relationship
with vendors
Recommendation New StrategiesRecommendation New Strategies
1
2
Room & Board can be innovative through cooperative strategies - strategic alliance with Europe and Asian
new innovation – to handle “green earth” issue
Thank You!Thank You!