战略是什么为什么很重要What Is Strategy and Why Is It Important【国外研究报告】

1、McGraw-Hill/Irwin11 - 10001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100

2、100111101010001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100100111101010001001010010011110101001000100101001001111010100100010010100100111101010

3、00100101001001111010100100010010100100111101010010001001010010011110101000100101001001111010100100010010100100111101010010001001010010011110101000100101001001111010100100010010100100111101010010001001010010011110101000100101001001111010100100010010100100111101010010001001010010011110101Chapter 1Joel

4、 Ross and Michael KamiMcGraw-Hill/Irwin31 - 3uWhat Is Strategy?uWhat Does the Strategy-Making, Strategy-Executing Process Entail?Phase 1: Developing a Strategic VisionPhase 2: Setting ObjectivesPhase 3: Crafting a StrategyPhase 4: Implementing and Executing the StrategyPhase 5: Evaluating Performanc

5、e and Initiating Corrective AdjustmentsuWhat Is the Role of the Board of Directors in the Strategy-Making, Strategy-Executing Process? uWhy Is Strategy Important?McGraw-Hill/Irwin41 - 41. Where are we now?2. Where do we want to go?Business(es) to be in and marketpositions to stake outBuyer needs and

6、 groups to serveOutcomes to achieve3. How will we get there?McGraw-Hill/Irwin51 - 5uConsists of the combination of competitive moves and business approaches used by managers to run the companyuManagements “game plan” toStake out a market positionAttract and please customersCompete successfullyConduc

7、t operationsAchieve organizational objectivesMcGraw-Hill/Irwin61 - 6uCentral thrust of a companys strategy involves moves to strengthen a companysLong-term competitive position andFinancial performanceuKey components of strategyOffensive movesDefensive movesWhat separates a powerful strategy from an

8、ordinary one is managements ability to forge a series of moves, both in the marketplace and internally, thatproduce sustainable competitive advantage!McGraw-Hill/Irwin71 - 7uStrive to be the industrys low-cost provideruOutcompete rivals on a key differentiating featureuFocus on a narrow market niche

9、, doing a better job than rivals of serving the unique needs of niche buyersuDevelop expertise, resource strengths, and capabilities not easily imitated by rivals McGraw-Hill/Irwin81 - 8McGraw-Hill/Irwin91 - 9McGraw-Hill/Irwin101 - 10uA companys strategy is a work in progressuChanges may be necessar

10、y to react toA failing strategy Shifting market conditionsEvolving customer preferencesFresh moves of competitorsTechnological breakthroughsCrisis situationsMcGraw-Hill/Irwin111 - 11uA business model addresses “How do we make money in this business?”Is the strategy capable of delivering good bottom-

11、line results?uDo the revenue-cost-profit economics of the strategy make good business sense?Look at revenue streams the strategy is expected to produceLook at associated cost structure and potential profit marginsDo resulting earnings streams and ROI indicate the strategy makes sense and the company

12、 has a viable business model for making money?McGraw-Hill/Irwin121 - 12Strategy - Deals with a companys competitive initiatives and business approachesBusiness Model -Concerns whether revenues and costs flowing from the strategy demonstrate the business can be amply profitable and viableStrategyBusi

13、nessModelMcGraw-Hill/Irwin131 - 13Employ a cadre of highly skilled programmers to develop proprietary code; keep source code hidden from usersSell resulting OS and software packages to PC makers and users at relatively attractive prices and achieve large unit salesMost costs in developing software a

14、re fixed; variable costs are small - once breakeven volume is reached, revenues from additional sales are almost pure profitProvide technical support to users at no costMcGraw-Hill/Irwin141 - 14Rely on collaborative efforts of volunteer programmers to create the software; make source code open and a

15、vailable to all usersAdd value to free, downloadable version of Linux by offering users Red Hat Linux systems containing upgraded and tested featuresCharge a modest fee to those preferring to subscribe to Red Hat Linux versionMake money by employing a cadre of technical support personnel who provide

16、 technical support to users for a feeMake as much or more money on providing technical support services, training, and consulting as on selling subscriptions to Red Hat LinuxMcGraw-Hill/Irwin151 - 15McGraw-Hill/Irwin161 - 16uInvolves thinking strategically aboutFuture of companyWhere are we going? u

17、Tasks includeCreating a roadmap of the futureDeciding future business position to stake outProviding long-term directionGiving company a strong identityMcGraw-Hill/Irwin171 - 17uA strategic vision concerns a firms future business path - “where we are going” Markets to be pursuedFuture technology-pro

18、duct-customer focusKind of company management is trying to createMcGraw-Hill/Irwin181 - 18uWell-stated vision statementsAre distinctive and specific to a particular organizationAvoid generic languageExcite strong emotionsAre challenging, uncomfortable, nail bitingMcGraw-Hill/Irwin191 - 19To be the c

19、ustomers first choice for communications and information services in every market we serve,domestic and international.Verizon CommunicationsMcGraw-Hill/Irwin201 - 20We will clothe the world by marketing the most appealing and widely worn casualclothing in the world.Levi Strauss & Company McGraw-

20、Hill/Irwin211 - 21Empower people through great software - anytime, anyplace, and onany device.Microsoft CorporationMcGraw-Hill/Irwin221 - 22Mayo ClinicThe best care to every patient every day.To make London thesafest city in the world.Scotland YardMcGraw-Hill/Irwin231 - 23We want to set the tone for

21、 the era . . . Green and affordable . . . That means establishing a new paradigm for harmonizing personal transport with the environment. It means revolutionary cost savings in products and production processes. ToyotaMcGraw-Hill/Irwin241 - 24Our vision: Getting to a billion connected computers worl

22、dwide, millions of servers, and trillions of dollars of e-commerce. Intels core mission is being the building block supplier to the Internet economy and spurring efforts to make the Internet more useful. Being connected is now at the center of peoples computing experience. We are helping to expand t

23、he capabilities of the PC platform and the Internet. IntelMcGraw-Hill/Irwin251 - 25GreenpeaceTo halt environmental abuse and promote environmental solutions.To be the worlds premier investment bank in every sector.Goldman SachsMcGraw-Hill/Irwin261 - 26We will become number one or number two in every

24、 market we serve, and revolutionize this company to have the speed and agility of a small enterprise.General ElectricMcGraw-Hill/Irwin271 - 27uA mission statement focuses on current business activities - “who we are and what we do”Current product and service offeringsCustomer needs being servedTechn

25、ological and business capabilitiesMcGraw-Hill/Irwin281 - 28uDefines current business activities, highlighting boundaries of current business Present products and servicesTypes of customers serveduConveysWhat we do,Why we are here, andWhere we are nowA companys mission is not to make a profit! The re

26、al mission is always “What will we do to make a profit?”McGraw-Hill/Irwin291 - 29Our mission: To give our customers the best food and beverage values that they can find anywhere and to provide them with the information required for informed buying decisions. We provide these with a dedication to the

27、 highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit. (a unique grocery store chain)McGraw-Hill/Irwin301 - 30uAn exciting, inspirational visionContains memorable languageClearly maps companys future directionChallenges an

28、d motivates workforceProvokes emotion and enthusiasmMcGraw-Hill/Irwin311 - 31uA statement of values is often provided to guide the companys pursuit of its visionuValues - Beliefs, business principles, and ways of doing things incorporated intoCompanys operationsBehavior of workforceuValues statement

29、sContain between four and eight valuesAre ideally tightly connected to and reinforce companys vision, strategy, and operating practices McGraw-Hill/Irwin321 - 32Home DepotCreating shareholder valueBuilding strong relationshipsEntrepreneurial spiritExcellent customer serviceGiving back to the communi

30、tyRespect for all peopleDoing the right thingTaking care of peopleMcGraw-Hill/Irwin331 - 33Du PontSafetyEthicsEnvironmental stewardshipRespect for peopleMcGraw-Hill/Irwin341 - 34uConverts strategic vision and mission into specific performance targetsuCreates yardsticks to track performanceuPushes fi

31、rm to focus on resultsuHelps prevent complacency and coastingMcGraw-Hill/Irwin351 - 35uRepresent commitment to achieve specific performance targetsuWell-stated objectives areQuantifiableMeasurableContain a deadline for achievementuSpell-out how much of what kind of performance by whenMcGraw-Hill/Irw

32、in361 - 36Outcomes focusedon improving financial performanceOutcomes focused on improving long-term, competitive business positionFinancial Objectives Strategic Objectives$McGraw-Hill/Irwin371 - 37uX % increase in annual revenuesuX % increase annually in after-tax profitsuX % increase annually in ea

33、rnings per shareuRegular dividend increasesuLarger gross profit marginuLarger operating profit marginuLarger net profit marginuX % return on capital employed (ROCE)uX % return on assets (ROA)uX % return on shareholder investment (ROE)uUpward-trending stock price that builds significant shareholder v

34、alue over timeuStrong bond and credit ratingsuReduced levels of debtuSufficient internal cash flows to fund new capital investmentuDiversified revenue baseMcGraw-Hill/Irwin381 - 38uWinning additional market share (or reaching X % market share)uConsistently getting new or improved products to market

35、ahead of rivalsuOvertaking key competitors on product performance or quality or customer serviceuAchieving lower overall costs than rivalsuDeriving X % of revenues from sale of new products introduced in past 5 yearsuBeing a recognized technological leaderuAchieving national or global market coverag

36、e for firms productsuHaving broader or more attractive product selection than rivalsuDeriving X % of revenues from online salesuHaving a better-known or more respected brand name than rivalsuImproving global sales and distribution capabilitiesMcGraw-Hill/Irwin391 - 39uA “balanced scorecard” for meas

37、uring company performance requires both financial objectives and strategic objectivesuCompany achievement of satisfactory financial performance, by itself, is not enough A companys financial performance measures are “lagging indicators” that reflect the results of past decisions and actionsuOf equal

38、 or greater importance is a companys performance on the measures of its strategic well-beingits competitiveness and market positionuUnless a companys performance in the marketplace reflects improving competitive strength and market penetration, its progress is less than inspiring and its ability to

39、continue delivering good financial performance is suspect The “lead indicators” of a companys future financial performance and business prospects are growing competitiveness and strength in the marketplace McGraw-Hill/Irwin401 - 40uPursuit of better financial performance may assume priority over str

40、ategic performance targets whenFirm is struggling financiallyResource commitments for new strategic initiatives may hurt bottom-line for several yearsProposed strategic moves are riskyuOtherwise, strategic objectives merit top priority a firm consistently foregoing opportunities to strengthen its lo

41、ng-term competitive position Risks diluting its competitiveness Risks losing momentum in its marketsHurts its ability to fend off rivals challengesMcGraw-Hill/Irwin411 - 41UnileveruGrow revenues by 5-6 % annually;uIncrease operating profit margins from 11 % to 16 % within five years;uTrim the compan

42、ys 1,200 food, household, and personal care products down to 400 core brands;uFocus sales and marketing efforts on those brands with potential to become respected, market-leading global brands; anduStreamline the companys supply chain.McGraw-Hill/Irwin421 - 42Banc One CorporationTo be one of the top

43、 three bankingcompanies in terms of market share inall significant markets we serve.Bristol-Myers SquibbTo focus globally on those businesses inhealth and personal care where we can be number one or number two through delivering superior value to the customer.McGraw-Hill/Irwin431 - 43uTo satisfy our

44、 customers byProviding quality cars and trucks,Developing new products,Reducing the time it takes to bring new vehicles to market,Improving the efficiency of all our plants & processes, andBuilding on our teamwork with employees, unions, dealers, and suppliers.Ford Motor CompanyMcGraw-Hill/Irwin

45、441 - 44Alcan AluminumTo be the lowest-cost producer of aluminum and to outperform the average return on equityof the Standard and Poors industrial stock index.McGraw-Hill/Irwin451 - 45uAnnual growth in earnings per share of 10% or better, on average;uA return on stockholders equity of 20-25%;uA ret

46、urn on capital employed of 27% or better; anduHave at least 30% of sales come from products introduced in the past four years.3M CorporationMcGraw-Hill/Irwin461 - 46uShort-Range objectivesTargets to be achieved soonServe as stair steps for reaching long-range performanceuLong-Range objectivesTargets

47、 to be achieved within3 to 5 yearsPrompt actions now that willpermit reaching targetedlong-range performance laterMcGraw-Hill/Irwin471 - 47A company exhibits strategic intent when it relentlessly pursues an ambitious strategic objective and concentrates its competitive actions and energies on achiev

48、ing that objective!McGraw-Hill/Irwin481 - 48uIndicates firms intent to stake out a particular position over the long-termuInvolves establishing a BHAG “big, hairy, audacious goal” and then devoting the companys full resources and energies to achieving it over time (Moon Shot)uSignals relentless comm

49、itment to winning in the marketplaceMcGraw-Hill/Irwin491 - 49Objective-setting process is mostly top-down, not bottom-up!1. First, establish organization-wide objectives and performance targets2. Next, set business andproduct line objectives3. Then, establish functionaland departmental objectives4.

50、Individual objectives are established lastMcGraw-Hill/Irwin501 - 50uStrategy-making involves entrepreneurship searching for opportunitiesTo do new things orTo do existing things in new or better waysuStrategizing involvesPicking up on happenings in the external environment andSteering company activi

51、ties in new directions dictated by shifting market conditionsMcGraw-Hill/Irwin511 - 51uStudying market trends and actions of competitorsuListening to customers, anticipating their changing needsuScrutinizing business possibilitiesbased on new technologyuBuilding firms market positionvia acquisitions

52、 or new productsuPursuing ways to strengthenfirms competitive capabilitiesOur strategy will be . . . McGraw-Hill/Irwin521 - 52uHow to grow the businessuHow to please customersuHow to outcompete rivalsuHow to respond to changing market conditionsuHow to manage each functional piece of the business an

53、d develop needed organizational capabilitiesuHow to achieve strategic and financial objectivesStrategy is HOW to . . .McGraw-Hill/Irwin531 - 53uA companys ethics and high moral standards go beyondMerely complying with laws and regulations uA strategy that exemplifies high ethical and moral standards

54、 addressesIssues of duty andWhat is morally responsibleWhat it is “right” to do and not douA strategy is not ethical unless it can pass moral scrutinyMcGraw-Hill/Irwin541 - 54Owners/shareholders Rightfully expect some form of return on their investmentEmployees - Rightfully expect respect for their

55、worth and devoting their energies to firmCustomers - Rightfully expect a seller to provide them with a reliable, safe product or serviceSuppliers - Rightfully expect to have an equitable relationship with firms they supplyCommunity - Rightfully expect businesses to be good citizens in their communit

56、yMcGraw-Hill/Irwin551 - 55Where firm is headed - Strategic vision and business missionAction approaches to achieve targeted results - A comprehensive strategy Short and long term performance targets - Strategic and financial objectivesMcGraw-Hill/Irwin561 - 56uSenior corporate executivesuManagers of

57、 business units and major product lines and key VPsuFunctional area managersuOperating managersMcGraw-Hill/Irwin571 - 57uTeams are increasingly used becauseFinding market- and customer-driven solutions is necessary Complex strategic issues cut across functional areas and departmental unitsIdeas of p

58、eople with differentbackgrounds and experiences strengthen strategizing effortGroups charged with crafting thestrategy often include the peoplecharged with implementing itMcGraw-Hill/Irwin581 - 58McGraw-Hill/Irwin591 - 59Corporate StrategyBusiness StrategiesFunctional StrategiesOperating StrategiesT

59、wo-Way InfluenceCorporate-Level ManagersBusiness-Level ManagersOperatingManagersFunctional ManagersTwo-Way InfluenceTwo-Way InfluenceMcGraw-Hill/Irwin601 - 60Business StrategyTwo-Way InfluenceFunctional StrategiesOperating StrategiesBusiness-Level ManagersOperatingManagersFunctional ManagersTwo-Way

60、InfluenceMcGraw-Hill/Irwin611 - 61uMoves to achieve diversificationuActions to boost performance of individual businessesuCapturing valuable cross-business synergies to provide 1 + 1 = 3 effects!uEstablishing investment priorities and steering corporate resources into the most attractive businessesMcGraw-Hi