麦肯锡战略咨询手册英文版

1、 房地产房地产e网网confidentialbu strategic plan basicstraining materials8 june 2001this report is solely for the use of client personnel. no part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from mckinsey & company. this m

2、aterial was used by mckinsey & company during an oral presentation; it is not a complete record of the discussion.jim ayala phomelissa gil phoregina manzano phosuresh mustapha phosteve shaw hkoshelly yeh phochoon-gin tan sio 房地产房地产e网网1description of materialsthis document was developed as a trai

3、ning presentation for the newly appointed business unit ceos of an asian family-owned conglomerate.the purpose of this document is to guide new ceos through the basic elements of developing a bu-level strategic plan.this presentation is complemented by a companion document the “bu strategic plan tem

4、plate book” which provides completeness and consistency of bu strategic plan submissions. these templates are not intended to replace or constrain bu strategic thinking and should be adapted to reflect a particular bus sectoral context as 房地产房地产e网网2what is a bu strategy?a strong business concept tha

5、t drives an integrated set of actions that creates value by:creating products/services whose value exceeds the cost of providing themcapturing value from competitors, customers, distributors, suppliers, and producers of substitute products and 房地产房地产e网网3rationale for proposed definitiona strong busi

6、ness concept that drives an integrated set of actions that creates value by:creating products/services whose value exceeds the cost of providing themcapturing value from competitors, customers, distributors, suppliers, and producers of substitute products and services1. recognize dual role of creati

7、ng and capturing value in all elements of business system2. forces choices6. competitive7. externally oriented, customer driven4. recognizes importance of cost as competitive tool5. considers tradeoffs between benefit provided to customers and costs they incur3. gives consideration to all elements o

8、f the business 房地产房地产e网网4common elements of real-life strategiesvisionwhere?strong businessconcept consisting ofhow tocompete?integrated set of actionsdeveloped high quality standards and excellent operational proceduresfocus on developing critical mass of stores and establishing market dominancemcd

9、onalds experienced phenomenal success in globalization due to: successfully screening franchisees and a dedication to intense initial and ongoing training consistent delivery of high-quality food and service around the world huge economies of scale and powerful supplier leverage capitalized on “amer

10、ican” appeal of mcdonalds success in tailoring assortment mix to meet local needs“we want to be the worlds best quick-service restaurant experience”we will offer identical excellent quality across the worldtargeting a broad set of the urban population, increasingly offering a bundled product (i.e.,

11、meals) at a low price in major cities around the worldmcdonalds example 房地产房地产e网网5bu strategy review interactionshighly interactive debate driven by fact-based understanding of environment and internal capabilitieshow do you expect competitor a to react?how sustainable is your business model? can it

12、 be easily duplicated?how robust are your contingency plans?how quickly can you shift your business emphasis to capture industry opportunities?bu-ceo 房地产房地产e网网6bu strategic plan developmentindustry dynamics and implicationsenvironmental and internal assessmentcompetitive assessmentinternal assessmen

13、twhat are the major changes in industry dynamics and resulting opportunities and risks?what are your competitive strengths and weaknesses?how does your current business emphasis fit with industry opportunity and competitive landscape?strategy articulationstrategic definition and implicationsstrategi

14、c initiativesfinancial projectionswhat strategy will your bu pursue over the next 3 years?what will be the impact of major strategic initiatives?what are the expected financial returns of your strategy?+risk/contingen-cies & strategic alternativeswhat strategic alternatives have you considered?+

15、 房地产房地产e网网7industry dynamics and implicationseconomics of demand by segment substitutes, ability to differentiate volatility, cyclicalityeconomics of supply producer concentration and diversity import competition capacity utilization entry/exit barriers cost structure (fixed and variable)industry ch

16、ain economics customer and supplier bargaining powerwhat are the major changes in industry dynamics and the resultingopportunities and risks?how is industry structure changing with respect to demand, supply, and industry chain economics? what are the resulting opportunities and risks?what is the exp

17、ected competitor conduct? what are the resulting opportunities and risks?what are the present and future external factors that could present new opportunities and risks?major industry competitor moves marketing initiatives industry capacity changes m&as, divestitures vertical integration/disaggr

18、egation alliances and partnerships cost control and efficiency improvementsimpact and likelihood of major industry discontinuities changes in regulation/government policy technological breakthroughskey questionsub-questionsissues to be considered* may or may not be applicable to all buswhat industry

19、 are you competing in? what are the various segments in the industry?industry definitionindustry segmentation definition s 房地产房地产e网网8segment analysisillustrativeindustryboundariessegmentsindustry segmentsrelatively distinct sub-groupings within the industrymarket is relatively similar within the seg

20、ment but different across segmentsdifferent industry dynamics may vary in importance in different 房地产房地产e网网9producersindustrystechnology breakthroughschanges in government policy/regulations domestic internationaleconomics of demand availability of substitutes differentiability of products rate of g

21、rowth volatility/cyclicalityeconomics of supply concentration of producers import competition diversity of producers fixed/variable cost structure capacity utilization entry/exit barriersindustry chain economics bargaining power of input suppliers bargaining power of customersmarketing pricing volum

22、e advertising/promotion new products/r&d distributioncapacity change expansion/contraction entry/exit acquisition/merger/ divestiturevertical integration forward/backward integration vertical joint ventures long-term contractsinternal efficiency cost control logistics process r&d organizatio

23、n effectivenessfinance profitability value creationtechnological progressemployment objectivesexternalshocksfeedbacktructureconductperformancestructure-conduct-performance (scp) model 房地产房地产e网网101. determinants of supplier power differentiation of inputs switching costs of suppliers and firms in the

24、 industry presence of substitute inputs supplier concentration importance of volume to supplier cost relative to total purchases in the industry impact of inputs on cost or differentiation threat of forward integration relative to threat of backward integration by firms in the industry2. determinant

25、s of barriers to entry economies of scale proprietary product differences brand identity switching costs capital requirements access to distribution absolute cost advantages proprietary learning curve access to necessary inputs proprietary, low-cost product design government policy expected retaliat

26、ion5. rivalry determinants industry growth fixed (or storage) cost/value added intermittent overcapacity product differences brand identity switching costs concentration and balance informational complexity diversity of competitors corporate stakes exit barriers3. determinants of buying power bargai

27、ning leveragebuyer concentration vs. firm concentrationbuyer volumebuyer switching costs relative to firm switching costsbuyer informationability to backward integratesubstitute productspull-through4. determinants of substitution threat relative price performance of substitutes switching costs buyer

28、 propensity to substitute2. new entrants3. buyers4. substitutesintensity of rivalry1. suppliers price sensitivityprice/total purchasesproduct differencesbrand identityimpact on quality perceptionbuyer profitsdecision makers incentives5. industry competitorsforces at work framework 房地产房地产e网网11opportu

29、nities/threats how are demand and supply expected to evolve? how do you expect the industry chain economics to evolve? what are the potential major industry discontinuities? what competitor actions do you expect?your buswot analysisconvert opportunitiesbuild on strengthsneutralize threatsaddressweak

30、-nessesstrengths/weaknesses what are your bus assets/competencies that solidify your competitive position? what are your bus assets/competencies that weaken your competitive position? can be used as a thought starter for competitive analysis and internal assessmentsurfaces potential opportunities/th

31、reats arising from factors external to the bu 房地产房地产e网网12scp applied to lexmarkrapidly changing technology, e.g., birth of portable, handheld, wireless computersrapidly changing customer preferencespossibility of a paperless society given increasing environmental concern and rise of the internetecon

32、omics of demandinkjet printers replacing laser in non-network environmenthigh price sensitivity; minimal opportunity for major product differentiationgrowth of laser and inkjet printer markets stable but dependent on pc sales and degree of replacementeconomics of supplyhp holds lions share of printe

33、r marketindustry capacity exceeds market demandpresence of counterfeit and recycled product supply especially in consumableshigh exit barriers due to asset intensityindustry chain economicsbargaining power of suppliers low bargaining power of distributors highlittle integration (forward or backward)

34、marketingmanufacturers competing mainly on priceretail dominant distribution channelaggressive development and release of new productsmoves to increase brand awareness via marketing campaignscreative financing packagesinternal efficiency relentless drive to low cost manufacturingcontinuous efforts t

35、o create more specialized features and/or functionsothersentry of pc and peripherals playersclamp down on counterfeit and recycled consumables suppliersfinanceprice competition on printer hardware drives margins down and forces players to rely on profits from consumable products (good margins) and h

36、igh volume capture on hardwaresexternalshocksfeedbacktructureconductp 房地产房地产e网网13resulting opportunities and risks for lexmarkopportunitiesrisksbecome the first mover in printers for portable, handheld, wireless computer marketgrow demand base via use of creative, non-traditional channels and altern

37、ative financing/payment methodsgrow demand for consumables via programs to increase printing usage be the supplier of printers for pc/peripheral players hoping to the expand into printer marketexpand leadership in corporate institutional accountsincreasing demand for customization may increase costs

38、 and erode marginsany decline in pc sales may significantly bring down revenuesmarket share may be eroded as competition intensifies branding/marketing push from established players pricing push from low-cost manufacturersmargins at risk if printing usage declines with push for paperless societynot

39、exhaustive 房地产房地产e网网14competitive assessmentprivileged assets that create competitive advantage, e.g. physical assets, location/”space”, distribution/sales networkdistinctive skills/competencies that create competitive advantage, e.g. innovation, talent developmentwhat are yourcompetitivestrengths a

40、ndweaknesses?what are the capabilities required to succeed in this industry?how do you compare against these necessary capabilities?strengths and weaknesses of your competitive position vs. necessary capabilitiesbenchmark performance against the industrys relevant key performance indicators (kpis),

41、with margin and market share as the required minimumkey questionsub-questionsissues to be considered* kpis are a handful of levers that drive the value of the industry/ 房地产房地产e网网15capability platform: assessment of sources of competitive advantage (1/2)physical assetlocation/spacedistribution/sales

42、networkbrand/reputationpatentrelationship with license allocator bhps low-cost mines telecomm/media company with rights radio spectrum avons representatives coca-cola pharmaceutical company with a wonder drug” favored nation status with a key minister in liberalizing economyinnovationcross-functiona

43、l coordinationmarket positioningcost/efficiency managementtalent development 3m with new products mcdonalds with qsc&v j&j with branded consumer health products emerson electrics best cost producer program p&g brand management programprivileged assetsdistinctive competenciesnecessary cap

44、abilities in order to succeed in the industrye 房地产房地产e网网16step 1: ensure that these are the capabilities required to succeed in the industry. use this list as a thought starter, add and delete as you see appropriatebu overallsegmentsabcstep 2: assess your overall position relative to the capabilitie

45、s required to succeed in the industry. also, determine if these capabilities are relevant to the segments you servephysical assetlocation/spacedistribution/sales networkbrand/reputationpatentrelationship with license allocatorinnovationcross-functional coordinationmarket positioningcost/efficiency m

46、anagementtalent developmentprivileged assetsdistinctive competenciesnecessary capabilities in order to succeed in the industrycapability platform: assessment of sources of competitive advantage by segment (2/2)illustrative extremely relevantsomewhat relevanti 房地产房地产e网网17bu overallcompetitorsabcstep

47、3: compare the strengths and weaknesses of your competitive position vs. the necessary skillsphysical assetlocation/spacedistribution/sales networkbrand/reputationpatentrelationship with license allocatorinnovationcross-functional coordinationmarket positioningcost/efficiency managementtalent develo

48、pmentprivileged assetsdistinctive competenciesnecessary capabilities in order to succeed in the industry competitor capability comparisonillustrative 房地产房地产e网网18necessary capabili-ties in order to succeed in the industryprivileged assetsdistinctive competen-ciescapability platform applied to lexmark

49、distribution/sales networkbrand/reputationinnovationcross-functional coordinationmarket positioningcost/efficiency management laserinkjet (sales network)(distribution)(reputation)(brand)segmentsextremely relevantsomewhat relevanti 房地产房地产e网网19necessary capabilities in order to succeed in the industry

50、privileged assetsdistinctive competenciescompetitor capability comparison applied to lexmarkdistribution/sales networkbrand/reputationinnovationcost/efficiency managementlexmarkhpepson formed own account teams; customer relationships inherited from ibmwell-established retail distribution/ dealer net

51、workknown for quality specialized products and network softwarebest-known brandknown for product qualityquick to market with new technologiesawarded leader in implementa-tion of necessary product featuresleader in print qualitycross-functional coordination delivers superior product design and custom

52、er servicemarket positioningcross-functional coordinationownership of technology allows low-cost, in-house manufacture of critical components 房地产房地产e网网20benchmark performance against relevant industry kpiskpis (examples)financial indicatorsmarginnet incomeroce operating indicatorsadvertising effecti

53、venessutilization rate strategic indicatorsmarket sharepercent of revenue from new productsworking capital trend external indicatorsmarket prices of raw materials bucompetitor acompetitor bcompetitor c 房地产房地产e网网21kpisfinancial indicatorsoperating incomemarginsroceoperating indicatorsdistribution rea

54、chcycle timestrategic indicatorsmarket sharebrand awarenesslexmarkhpepsonbenchmarking applied to lexmarkstrongmediumweak* includes other information equipment (e.g. scanners, projectors)$457 million12%29%$1,573 million* 9%*11%*$583 million*6%*n/a*12%47%17% 房地产房地产e网网22internal assessmentrelevant bu s

55、egments (based on customer, product, geography, distribution channel)operating contribution estimates for each segmenthow does your current business emphasis fit with the industry opportunities and the competitive landscape?which segments of the business are providing the highest returns?*what have

56、been the performance trends along major bu kpis?kpi performance trends over the last 3-5 years, e.g. return on capital employed (roce)*, operating income, margins, capital employedassessment of underlying trend driversexpected evolutionkey questionsub-questionsissues to be consideredwhich intangible

57、 assets could be near-term sources of value?identification of in-house intellectual property, talent, networks, brand/imageconversion into sources of value* based on latest available, 1-2 year historical financial statements* roce = operating income x (1-tax rate) all interest bearing debt (short an

58、d long) + minority interest + stockholders 房地产房地产e网网23segment analysisrevenuegross profitoperating profitassets employedpeople employedoperatingprofit margingross profitmarginrocestep 1: identify the relevant segmentsstep 2: provide a segment analysis based on the following minimum financial metrics

59、: revenue, gross profit and margin, operating profit and marginstep 3: to the extent assets and people can be disaggregated by segment, deployment of assets against returns can be analyzed%php% of totalsegment 1php% of totalsegment 2php% of totalsegment 3php% of totalsegment 4php% of totaltotal%segm

60、ent 1segment 2segment 3segment 4t 房地产房地产e网网24segment analysis applied to lexmarkprinters and suppliersother office imagingkeyboards and other59347rest of worldeuropeusproductpercentgeographypercent of total revenues, 1995100% = usd 3,807 million100%=$2494 m100%=$895 m11414864846100%=$3021 m100%=$1024 m14355184646100%=$3452