专业战略分析工具

1、专业战略分析工具Profit Pools: A Fresh Look at StrategyOrit Gadiesh and James L. GilbertHarvard Business ReviewMay-June 19982022-4-302THE PC INDUSTRYS PROFIT POOLnValue chain focusnAxesnVerticaloperating marginnHorizontalshare of industry data40%30201000100%share of industry revenuemicroprocessorsother compo

2、nentspersonal computerssoftwareperipheralsservicesThe value chain for the PC industry includes six key activities; the profitability of the activities varies widely. Manufacturers compete in the largest but least-profitable segment of the chain.2022-4-303The Profit Pool LensnThe profit pool is the t

3、otal profit earned in an industry at all points along the industrys value chainnSegment profitability may vary by customer group, product category, geographic market, or distribution channelnProfit concentration may be very different than revenue concentrationnShape of the profit pool reflects the c

4、ompetitive dynamics of a business Interactions of companies and customers Competitive strategies of competitorsnProduct pools are not stagnant2022-4-304THE U.S. AUTO INDUSTRYS PROFIT POOL100%operating marginsource: Harvard Business Review, May-June 1998auto rental25%1510500share of industry revenuea

5、uto manufacturingnew car dealersused car dealersauto loansauto insuranceaftermarket parts20leasingwarrantygasolineservice repairThe automotive industry encompasses many value-chain activities. The way that profits and revenues are distributed among these activities varies greatly. The most profitabl

6、e areas of the car business are not the ones that generate the biggest revenues. 中国最大的资料库下载中国最大的资料库下载2022-4-305Profit Pools: Company ExamplesCompaniesAutomakersU-HaulElevators (OTIS)Harley DavidsonPolaroidCore BusinessAuto manufacturingTruck RentalElevator ManufacturingMotorcyclesInstant Photography

7、 CamerasSources of Highest ROIAuto leasing, insurancePacking materials, storageServiceAccessories (consumer products), leasing, service, restaurantsFilm2022-4-306Managerial ImplicationsnFocus on growth and market share can lead a company to focus on unprofitable segments of an industrynTodays deep r

8、evenue revenue pool may be tomorrows dry hole.nThe goal should be to focus on profitable opportunitiesnIndustry should be considered more broadly than traditional definitionnAutomobile industry includes Component manufacture and supply New car assembly and delivery New car warrantee and serviceNew c

9、ar financing and insuranceUsed car sales and service2022-4-307Turbulent industriesnProfit pools are especially important and useful in industries undergoing deregulation and/or technological changenSuch changes can open new profit pool opportunities and drain old onesnChoke points may change or be e

10、liminatednOpportunities for either forward or vertical integration may emergenCurrent vertical integration may be disintermediated2022-4-308Creating and managing a profit poolnProfit pool analysis may indicate new opportunities or threatsnImperativesnBe open to a new perspective on your business and

11、 industrynDeveloping new strategy may require overturning elements of the current strategynBe open to reevaluate the role played by current competitorsnBe vigilant to identify possibility that new entrants may seek to enter your industry with radical strategies 2022-4-309Looking Ahead: Profit Pools

12、and the Five ForcesnProfit pools are computed by multiplying the size of the revenue by the unit profit marginnEssentially an accounting process- no theorynMost valuable in situations in which external conditions are essential stable and/or unimportantn(Often dominated by internal data alone)nThe fi

13、ve forces tells us (which will study next)nthe underlying determinants that determine both the revenue size and the unit profit marginnThe profit drivers which allow us to forecast the direction of change2022-4-3010Marakon RunnersThomas A. StewartFortuneSept. 28, 19982022-4-3011Marakon Associatess A

14、pproach to Corporate StrategynConsultants to many large corporationsnCoca Cola, HP, GM, CitiCorp, etc.nClients have returns 3.1% higher than industry peer groupnGoal is to increase shareholder value through analysis of economic profitnDeep drilling in business data to measure value creation Product

15、segments Customer segments2022-4-3012How Strategy HappensnLearning where value is creatednWaterfall charts by product and customer segmentsnEvaluating strategynIndustry average profit per unitnCompanys profit vs industry averagenManaging valuenCurrent strategynChange product focusnChange customer fo

16、cus2022-4-3013Learning where value is createdProduct segmentsCustomer segmentsProfit/loss ($ per unit)Volume (units)Volume (units)02022-4-3014Evaluating StrategyCompany profit per unitIndustry-average profit per unit2022-4-3015Managing for valueCurrentstrategyChangeproductfocusChange CustomerfocusVa

17、lue2022-4-3016Application to our casesnRetail industry (Wal*Mart)nSoft drink industry (Coca-Cola and PepsiCo) nSteel (Nucor) and aluminum cans (CC&S)nHi tech (Intel, Cisco, and Dell)nVideo games (Nintendo)nWeb businesses (eBay and Yahoo!)2022-4-3017The Core Competence of the CorporationPrahalad,

18、 C. K. and Gary HamelHarvard Business Review, May-June 19902022-4-3018Core CompetencenA Firm is made up of resourcesnpeople, patents, brand names, plant &equipment, processes, etcnA competence is the ability to employ diverse skills and resources to perform tasks and activities.nA core competenc

19、e is a broadly based and/or a broadly applied fundamental capability. 2022-4-3019Competence and TechnologynCompetence is not the same as technologynCompetence requiresntechnologiesnsocial organizationncollective learning2022-4-3020Core competence questions:nWhat are we really good at?nHow can we bui

20、ld upon it?nWhat do we need to be good at?2022-4-3021Characteristics of Effective CompetenciesnDurability: Technical equipment can be short lived. Reputation or knowledge may depreciate more slowly.nTransparency: The more complex the source of competence, the harder it is to imitate it.nTransferabil

21、ity: The availability of resources to competitors.nReplicability: A competitors internal ability to replicate a competence using available resources.2022-4-3022Choosing CompetenciesnHow central is this competence to our success in the market?nHow long could we preserve our competitiveness in this bu

22、siness without this particular competence?nWhat future opportunities would be foreclosed if we were to lose this particular competence?2022-4-3023Core Competence and Core ProductsEndProducts/ServicesCore ProductsCore Competence2022-4-3024A Hierarchy of CompetenciesSupplemental CapabilitiesEnabling C

23、apabilitiesCore Capabilities2022-4-3025Building Strategy from CapabilitiesStrategyCapabilitiesResources1. Identify resources, appraiserelative strengths and weaknesses. Leverage use of resources2. Identify capabilities. What do we domore effectively than competitors? Identify resource inputs to capa

24、bilities.3. Appraise rent-generating potential resources and capabilities in terms of:sustainable advantage, inappropriability4. Select strategy that best exploits the firms resources and capabilities rela-tive to external opportunities.5. Identify resourcegaps that need to befilled.Invest in replen

25、ishing,augmenting, and up-grading the firmsresource base.CompetitiveAdvantageSource: Robert M. Grant, “The Resource-Based Theory of Competitive Advantage,”California Management Review, Spring,1991, page 151.2022-4-3026How to map your industrys profit poolOrit Gadiesh and James L. GilbertHarvard Busi

26、ness ReviewMay-June 19982022-4-3027A straight forward exercise with complicationsnConcept is straight forwardnDefine value chain activitiesnDetermine their size and profitabilitynApplication of concept is complicatednFinancial data doesnt correspond to value chain activitiesnCompany data is aggregat

27、ed across businessesnProducts, customer purchases, channel volumes rarely match up with boundaries of an activitynConsiderable creativity is required2022-4-3028Four step processnDefine the poolnDetermine the size of the poolnDetermine the distribution of profitsnReconcile the estimates2022-4-3029Fou

28、r step processDefine the poolDetermine the size of the poolDetermine profit distributionReconcile the estimatesTask: determine which value-chain activity influence profits now and in the futureDevelop a baseline estimate of cumulative profits generated by all profit pool activitiesDevelop estimate o

29、f the profits generated by each activityCompare the outputs of steps 2 & 3GuidelinesTake a broad view of the value chain(beyond traditional industry definition)Seek a rough but accurate estimateShift between aggregation and disaggregation in your analysisIf numbers dont add up,Check assumption a

30、nd calculationsExamine industry from three perspective: own, other players, customersTake easiest route: go where the data areDo own economics first, then large pure players, large mixed, smallerCollect additional dataDont disaggregate more than necessaryTake at least two viewpoints: company level and product levelUse proxy measures where necessaryResolve inconsistenciesdont ignore themOutputProfit pool listEstimate of total pool profits, (range)Point estimate of profits for each value chain activityFinal estimates of activity and total pool profits20