企业战略管理_第4章

1、Chapter 4 The Internal AssessmentStrategic Management: Concepts & Cases11th EditionFred David1Copyright 2005 Prentice HallChapter OutlineThe Nature of an Internal AuditThe Resource-Based View (RBV)/VRIOIntegrating Strategy & Culture2Copyright 2005 Prentice HallChapter Outline (contd)Manageme

2、ntMarketingOpportunity Analysis3Copyright 2005 Prentice HallChapter Outline (contd)Finance/AccountingProduction/OperationsResearch & Development4Copyright 2005 Prentice HallChapter Outline (contd)Management Information SystemsThe Value Chian Analysis (VCA)5Copyright 2005 Prentice HallThe biggest

3、 levers youve got to change a company are strategy, structure, and culture. If I could pick two, Id pick strategy and culture. Wayne Leonard, CEO, EntergyInternal AssessmentWeak leadership can wreck the soundest strategy. Sun Zi6Copyright 2005 Prentice HallNature of an Internal Audit- Strengths- Wea

4、knessesFunctional Areas of Business7Copyright 2005 Prentice HallnInternal strengths/weaknessesnExternal opportunities/threatsnClear statement of missionNature of an Internal AuditBasis for Objectives & Strategies8Copyright 2005 Prentice HallKey Internal ForcesFunctional Business Areas:Vary by or

5、ganizationDivisions have differing strengths & weaknesses9Copyright 2005 Prentice HallKey Internal ForcesDistinctive Competencies:Firms strengths that cannot be easily matched or imitated by competitors10Copyright 2005 Prentice HallKey Internal ForcesDistinctive Competencies:Building competitive

6、 advantage involves taking advantage of distinctive competencies11Copyright 2005 Prentice HallKey Internal ForcesDistinctive Competencies:Strategies designed to improve on a firms weaknesses and turn to strengths12Copyright 2005 Prentice HallInternal AuditInformation from:ManagementMarketingFinance/

7、accountingProduction/operationsResearch & DevelopmentManagement information SystemsParallels process of external audit13Copyright 2005 Prentice HallInternal AuditInvolvement in performing an internal strategic-management audit provides vehicle for understanding nature and effect of decisions in

8、other functional business areas of the firm14Copyright 2005 Prentice HallInternal AuditCoordination & understanding among managers from all functional areasKey to Organizational Success15Copyright 2005 Prentice HallInternal AuditNumber and complexity increases relative to organization sizeFuncti

9、onal Relationships16Copyright 2005 Prentice HallInternal AuditExemplifies complexity of relationships among functional areas of the businessFinancial Ratio Analysis17Copyright 2005 Prentice HallResource Based View (RBV)/VRIO frameworkApproach to Competitive AdvantageInternal resources are more impor

10、tant than external factors18Copyright 2005 Prentice HallVRIO Framework1.Value2.Rarity3.Inimitability4.Organization19Copyright 2005 Prentice Hall20Copyright 2005 Prentice HallSource: Barney and Hesterly 2006, Strategic Management and Competitive Advantage Concepts, Pearson,New Jersey. 21Copyright 200

11、5 Prentice HallResource Based View (RBV)Empirical IndicatorsRareHard to imitateNot easily substitutable22Copyright 2005 Prentice HallIntegrating Strategy & CulturePattern of behavior developed by an organization as it learns to cope with its problem of external adaptation and internal integratio

12、nis considered valid and taught to new membersOrganizational Culture23Copyright 2005 Prentice HallIntegrating Strategy & CultureOrganizational CultureResistant to changeMay represent:StrengthWeakness24Copyright 2005 Prentice HallCulturalProductsValuesLegendsBeliefsHeroesRitesSymbolsRitualsMythsI

13、ntegrating Strategy & Culture25Copyright 2005 Prentice HallIntegrating Strategy & CultureOrganizational Culture Can Inhibit Strategic ManagementMiss external changes due to strongly held beliefsNatural tendency to “hold the course” even during times of strategic change26Copyright 2005 Prenti

14、ce HallU.S. Versus Foreign CulturesTo successfully compete in world markets, U.S. managers must obtain a better knowledge of historical, cultural, and religious forces that motivate and drive people in other countries.27Copyright 2005 Prentice Hall28Copyright 2005 Prentice HallManagementFunctions of

15、 Management1.Planning2.Organizing3.Motivating4.Staffing5.Controlling29Copyright 2005 Prentice HallManagementPlanningStage When Most ImportantFunctionStrategy FormulationOrganizingStrategy ImplementationMotivatingStrategy ImplementationStaffingControllingStrategy ImplementationStrategy Evaluation30Co

16、pyright 2005 Prentice HallManagementPlanningBeginning of management processBridge between present & futureImproves likelihood of attaining desired results31Copyright 2005 Prentice HallPlanningForecastingEstablishing objectivesDevising strategiesDeveloping policiesSetting goalsManagement32Copyrig

17、ht 2005 Prentice HallManagementOrganizingAchieves coordinated effortDefines task & authority relationshipsDepartmentalizationDelegation of authority33Copyright 2005 Prentice HallOrganizingOrganizational designJob specializationJob descriptionsJob specificationsSpan of controlUnity of commandCoor

18、dinationJob designJob analysisManagement34Copyright 2005 Prentice HallManagementMotivatingInfluencing to accomplish specific objectivesCommunication major component35Copyright 2005 Prentice HallMotivatingLeadershipCommunicationWork groupsJob enrichmentJob satisfactionNeeds fulfillmentOrganizational

19、changeMoraleManagement36Copyright 2005 Prentice HallManagementStaffingPersonnel managementHuman resources management37Copyright 2005 Prentice HallStaffingWage & salary admin.Employee benefitsInterviewingHiringDischargingTrainingManagement developmentAffirmative ActionEEOLabor relationsManagement

20、38Copyright 2005 Prentice HallManagementControllingEstablishing performance standardsEnsure actual operations conform to planned operationsTaking corrective actions39Copyright 2005 Prentice HallControllingQualityFinancialSalesInventoryExpenseAnalysis of varianceRewardsSanctionsManagement40Copyright

21、2005 Prentice HallManagement Audit ChecklistDoes the firm use strategic management concepts?Are objectives/goals measurable? Well communicated?Do managers at all levels plan effectively?41Copyright 2005 Prentice HallManagement Audit ChecklistDo managers delegate well?Is the organizations structure a

22、ppropriate?Are job descriptions clear?Are job specifications clear?Is employee morale high?42Copyright 2005 Prentice HallManagement Audit ChecklistIs employee absenteeism low?Is employee turnover low?Are the reward mechanisms effective?Are the organizations control mechanisms effective?43Copyright 2

23、005 Prentice HallMarketingCustomer Needs/Wants for Products/Services1.Defining2.Anticipating3.Creating4.Fulfilling44Copyright 2005 Prentice HallMarketingMarketing Functions1.Customer analysis2.Selling products/services3.Product & service planning4.Pricing5.Distribution6.Marketing research7.Oppor

24、tunity analysis45Copyright 2005 Prentice HallCustomer AnalysisCustomer surveysConsumer informationMarket positioning strategiesCustomer profilesMarket segmentation strategiesMarketing46Copyright 2005 Prentice HallAdvertisingSalesPromotionPublicitySales force managementCustomer relationsDealer relati

25、onsMarketingSelling Products/Services47Copyright 2005 Prentice HallTest marketingBrand positioningDevising warranteesPackagingProduct features/optionsProduct styleQualityMarketingPlanning Product/Service 48Copyright 2005 Prentice HallForward integrationDiscountsCredit termsCondition of saleMarkupsCo

26、stsUnit pricingMarketingPricing49Copyright 2005 Prentice HallWarehousingChannelsCoverageRetail site locationsSales territoriesInventory levelsTransportationMarketingDistribution50Copyright 2005 Prentice HallData collectionData inputData analysisSupport business functionsMarketingMarketing Research51

27、Copyright 2005 Prentice HallAssessing costsAssessing benefitsAssessing risksCost/benefit/risk analysisMarketingOpportunity Analysis52Copyright 2005 Prentice HallMarketingOpportunity Analysis1.Are markets segmented effectively?2.Is the organization positioned well among competitors?3.Has the firms ma

28、rket share been increasing?4.Are the distribution channels reliable & cost effective?5.Is the sales force effective?53Copyright 2005 Prentice HallMarketingOpportunity Analysis6.Does the firm conduct market research?7.Are product quality & customer service good?8.Are the firms products/servic

29、es priced appropriately?9.Does the firm have effective promotion, advertising, & publicity strategies?54Copyright 2005 Prentice HallMarketingOpportunity Analysis10.Are the marketing planning & budgeting effective?11.Do the firms marketing managers have adequate experience and training?55Copy

30、right 2005 Prentice HallFinance/AccountingDetermining financial strengths & weaknesses key to strategy formation56Copyright 2005 Prentice HallFinance/AccountingFinance/Accounting Functions1.Investment decision (Capital budgeting)2.Financing decision3.Dividend decision57Copyright 2005 Prentice Ha

31、llFirms ability to meet its short-term obligationsRatiosCurrent ratioQuick (or acid test) ratioBasic Financial RatiosLiquidity Ratios58Copyright 2005 Prentice HallExtent of debt financingRatiosDebt-to-total assetsDebt-to-equityLong-term debt-to-equityTimes-interest earnedBasic Financial RatiosLevera

32、ge Ratios59Copyright 2005 Prentice HallEffective use of firms resourcesRatiosInventory-turnoverFixed assets turnoverTotal assets turnoverAccounts receivable turnoverAverage collection periodBasic Financial RatiosActivity Ratios60Copyright 2005 Prentice HallEffectiveness shown by returns on sales &am

33、p; investmentRatiosGross profit marginOperating profit marginNet profit marginReturn on total assets (ROA)Basic Financial RatiosProfitability Ratios61Copyright 2005 Prentice HallEffectiveness shown by returns on sales & investmentRatiosReturn on stockholders equity (ROE)Earnings per sharePrice-e

34、arnings ratioBasic Financial RatiosProfitability Ratios(contd)62Copyright 2005 Prentice HallFirms ability to maintain economic positionRatiosSalesNet incomeEarnings per shareDividends per shareBasic Financial RatiosGrowth Ratios63Copyright 2005 Prentice HallFinance/Accounting AuditWhere is the firm

35、strong/weak as indicated by financial ratio analysis?Can the firm raise short-term capital as needed?Can the firm raise long-term capital as needed through debt and/or equity?64Copyright 2005 Prentice HallFinance/Accounting AuditDoes the firm have sufficient working capital?Are capital budgeting pro

36、cedures effective?Are dividend payout policies reasonable?Are the firms financial managers experienced & well trained?65Copyright 2005 Prentice HallFinance/Accounting AuditEffective Financial Analysis Requires:1. Analysis of how the ratios have changed over time2. How the ratios compare to indus

37、try norms3. How the ratios compare with key competitors66Copyright 2005 Prentice HallProduction/OperationsProduction/Operations FunctionsProcessCapacityInventoryWorkforceQuality67Copyright 2005 Prentice HallFacility designTechnology selectionFacility layoutProcess flow analysisFacility locationLine

38、balancingProcess controlProduction/OperationsProcess68Copyright 2005 Prentice HallForecastingFacilities planningAggregate planningSchedulingCapacity planningQueuing analysisProduction/OperationsCapacity69Copyright 2005 Prentice HallRaw materialsWork in processFinished goodsMaterials handlingProducti

39、on/OperationsInventory70Copyright 2005 Prentice HallJob designWork measurementJob enrichmentWork standardsMotivation techniquesProduction/OperationsWorkforce71Copyright 2005 Prentice HallQuality controlSamplingTestingQuality assuranceCost ControlProduction/OperationsQuality72Copyright 2005 Prentice

40、HallProduction/Operations AuditAre suppliers of materials, parts, etc. reliable and reasonable?Are facilities, equipment & machinery in good condition?Are inventory-control policies and procedures effective?73Copyright 2005 Prentice HallProduction/Operations AuditAre quality-control policies &am

41、p; procedures effective?Are facilities, resources, and markets strategically located?Does the firm have technological competencies?74Copyright 2005 Prentice HallResearch & DevelopmentResearch & Development FunctionsDevelopment of new products before competitorsImproving product qualityImprov

42、ing manufacturing processes to reduce costs75Copyright 2005 Prentice HallFinancing as many projects as possibleUse percent-of-sales methodBudgeting relative to competitorsHow many successful new products are neededResearch & DevelopmentR&D Budgets76Copyright 2005 Prentice HallResearch &

43、Development AuditAre the R&D facilities adequate?If R&D is outsourced, is it cost effective?Are the R&D personnel well qualified?Are R&D resources allocated effectively?77Copyright 2005 Prentice HallResearch & Development AuditAre MIS and computer systems adequate?Is communicatio

44、n between R&D & other organizational units effective?Are present products technologically competitive?78Copyright 2005 Prentice HallManagement Information SystemsPurposeImprove performance of an enterprise by improving the quality of managerial decisions.79Copyright 2005 Prentice HallManagem

45、ent Information SystemsnInformation SystemsnCIO/CTOnSecuritynUser-friendlynE-commerce80Copyright 2005 Prentice HallManagement Information Systems AuditDo managers use the information system to make decisions?Is there a CIO or Director of Information Systems position in the firm?Is data updated regul

46、arly?81Copyright 2005 Prentice HallManagement Information Systems AuditDo managers from all functional areas contribute input to the information system?Are there effective passwords for entry into the firms information system?Are strategists of the firm familiar with the information systems of rival

47、 firms?82Copyright 2005 Prentice HallManagement Information Systems AuditIs the information system user-friendly?Do all users understand the competitive advantages that information can provide?Are computer training workshops provided for users?Is the firms system being improved?83Copyright 2005 Pren

48、tice Hall84Copyright 2005 Prentice Hall85Copyright 2005 Prentice Hall86Copyright 2005 Prentice HallValue creating of primary and support activities.Source: Wheelen &Hunger (2004).87Copyright 2005 Prentice Hall88Copyright 2005 Prentice HallSource: Barney and Hesterly (2006).89Copyright 2005 Prentice Hall Supporting activities:ProcurementTechnology developmentHuman resource managementGeneral administration 90Copyright 2005 Prentice HallSupports the entire value chain rather than individual activities,