企业战略管理第六章 企业战略评估与选择

1、Ch 6 -1Chapter 6Strategy Analysis & ChoiceStrategic Management: Concepts & Cases11th EditionFred DavidCh 6 -2Chapter OutlineThe Nature of Strategy & ChoiceA Comprehensive Strategy-Formulation FrameworkThe Input StageCh 6 -3Chapter Outline (contd)The Matching StageThe Decision StageCultural Aspects o

2、f Strategy ChoiceCh 6 -4Chapter Outline (contd)The Politics of Strategy ChoiceCh 6 -5- Establishing long-term objectives- Generating alternative strategies- Selecting strategies to pursue- Best alternative - achieve mission & objectivesNature of Strategy Analysis & ChoiceStrategy Analysis & ChoiceCh

3、 6 -6VisionMissionObjectivesExternal auditInternal auditPast successful strategiesProviding a basis for generating and evaluating feasible alternative strategiesStrategy Analysis & ChoiceAlternative Strategies Derive From -Ch 6 -7Strategy Analysis & ChoiceGenerating Alternatives -Participation in ge

4、nerating alternative strategies should be as broad as possibleCh 6 -8Comprehensive Strategy-Formulation FrameworkStage 1:The Input StageStage 2:The Matching StageStage 3:The Decision StageCh 6 -9Comprehensive Strategy-Formulation FrameworkAll techniques included in the strategy-formulation framework

5、 require the integration of intuition and analysisStrategists themselves, not analytic tools, are always responsible and accountable for strategic decisions.Ch 6 -10Strategy-Formulation Analytical FrameworkInternal Factor EvaluationMatrix (IFE)External Factor EvaluationMatrix (EFE)Competitive Profil

6、e Matrix(CPM)Stage 1:The Input StageCh 6 -11Stage 1: The Input StageBasic input information for the matching & decision stage matricesRequires strategists to quantify subjectivity early in the processGood intuitive judgment always neededCh 6 -12Strategy-Formulation Analytical FrameworkSWOT MatrixSPA

7、CE MatrixBCG MatrixIE MatrixGrand Strategy MatrixStage 2:The Matching StageCh 6 -13Stage 2: The Matching StageMatch between organizations internal resources & skills and the opportunities & risks created by its external factorsCh 6 -14Stage 2: The Matching StageStrengthsWeaknessesOpportunitiesThreat

8、sSWOT MatrixCh 6 -15SWOT MatrixStrengths-Opportunities (SO)Weaknesses-Opportunities (WO)Strengths-Threats (ST)Weaknesses-Threats (WT)Four Types of StrategiesCopyright 2007 Prentice HallCh 6 -16WO StrategiesImproving internalweaknesses bytaking advantageof externalopportunitiesWOStrategiesStrengthsWe

9、aknessesOpportunitiesThreatsSWOTCopyright 2007 Prentice HallCh 6 -17ST StrategiesUse a firms strengthsto avoid orreduce the impactof externalthreatsSTStrategiesStrengthsWeaknessesOpportunitiesThreatsSWOTWT StrategiesCopyright 2007 Prentice HallCh 6 -18Defensive tacticsaimed at reducinginternal weakn

10、esses & avoidingenvironmentalthreatsWTStrategiesStrengthsWeaknessesOpportunitiesThreatsSWOTCopyright 2007 Prentice HallCh 6 -19SO StrategiesUse a firmsinternal strengthsto take advantageof external opportunitiesSOStrategiesStrengthsWeaknessesOpportunitiesThreatsSWOTCopyright 2007 Prentice HallCh 6 -

11、20SWOT MatrixLeave BlankStrengths SList StrengthsWeaknesses W List WeaknessesOpportunities O List OpportunitiesSO StrategiesUse strengths to take advantage of opportunitiesWO StrategiesOvercoming weaknesses by taking advantage of opportunitiesThreats T List ThreatsST StrategiesUse strengths to avoid

12、 threatsWT Strategies Minimize weaknesses and avoid threatsCh 6 -21Limitations with SWOT MatrixDoes not show how to achieve a competitive advantageProvides a static assessment in timeMay lead the firm to overemphasize a single internal or external factor in formulating strategiesCh 6 -22SPACE Matrix

13、Strategic Position & Action Evaluation MatrixAggressiveConservativeDefensiveCompetitiveCh 6 -23SPACE MatrixTwo Internal DimensionsFinancial Strength (FS)Competitive Advantage (CA)Ch 6 -24SPACE MatrixTwo External DimensionsEnvironmental Stability (ES)Industry Strength (IS)Ch 6 -25Steps to Developing

14、a SPACE MatrixSelect a set of variables depending on the type of organizations to define FS, CA, ES, & ISAssign a numerical value:From +1(worst) to +6 (best) to each FS & IS dimensionsFrom -1 (best) to -6 (worst) to each ES & CA dimensionsCompute an average score for each FS, CA, ES, & ISCh 6 -26Ste

15、ps to Developing a SPACE MatrixPlot the average score on the appropriate axisAdd the two scores on the x-axis and plot the point. Add the two scores on the y-axis and plot the point. Plot the intersection of the new xy pointDraw a directional vector from the origin through the new intersection point

16、.Ch 6 -27SPACE MatrixFS+6+1+5+4+3+2-6-5-4-3-2-1-6-5-4-3-2-1+1+2+3+4+5+6ESCAISConservativeAggressiveDefensiveCompetitiveCh 6 -28Aggressive ProfilesAn organization is in an excellent position to use its internal strengths to Take advantage of external opportunitiesOvercome internal weaknessesAvoid ext

17、ernal treatsMarket penetration ; market development; product development; integration; diversification; combination strategy all can be feasibleCh 6 -29Conservative ProfilesThe directional vector appear in the upper-left quadrant ,which implies staying close to the firms basic competencies and not t

18、aking excessive risksMarket penetration; market development; product development; concentric diversificationCh 6 -30Defensive ProfilesThe directional vector may be located in the lower-left quadrant, which suggests that the firm should focus on rectifying internal weaknesses and avoiding external th

19、reatsHarvest ，Retrenchment; divestiture; liquidation; concentric diversificationCh 6 -31Competitive ProfilesThe directional vector may be located in the lower-right quadrant, indicating that the firm who has financial problem competes in an unstable but growing industry, should focus on strengthenin

20、g its finance by taking advantage the industry growthBackward, forward, and horizontal integration; Market penetration; market development; product development; and joint ventureCh 6 -321 2 3 4 5 6123Ch 6 -33BCG MatrixBoston Consulting Group MatrixEnhances multi-divisional firm in formulating strate

21、giesAutonomous divisions = business portfolioDivisions may compete in different industriesFocus on market-share position & industry growth rateCh 6 -34BCG MatrixRelative Market Share PositionRatio of a divisions own market share in an industry to the market share held by the largest rival firm in th

22、at industryCh 6 -35BCG MatrixDogsIVCash CowsIIIQuestion MarksIStarsIIRelative Market Share PositionHigh1.0Medium.50Low0.0Industry Sales Growth RateHigh+20Low-20Medium0Ch 6 -36BCG MatrixQuestion MarksLow relative market share compete in high-growth industryCash needs are highCash generation is lowDec

23、ision to strengthen (intensive strategies) or divestCh 6 -37BCG MatrixStarsHigh relative market share and high growth rateBest long-run opportunities for growth & profitabilitySubstantial investment to maintain or strengthen dominant positionIntegration strategies, intensive strategies, joint ventur

24、esCh 6 -38BCG MatrixCash CowsHigh relative market share, competes in low-growth industryGenerate cash in excess of their needsMilked for other purposesMaintain strong position as long as possibleProduct development, concentric diversificationIf weakensretrenchment or divestitureCh 6 -39BCG MatrixDog

25、sLow relative market share & compete in slow or no market growthWeak internal & external positionLiquidation, divestiture, retrenchmentCh 6 -40Limitations of BCG MatrixViewing every business as either a star, cash cow, dog, or question mark is an oversimplificationIt is a snapshot of an organization

26、 at a given point in time, and has no temporal qualitiesOther variables besides relative market share and industry growth rate in sales, are important in making strategic decisions about various divisionsCh 6 -41The Internal-External MatrixPositions an organizations various divisions in a nine-cell

27、displaySimilar to BCG Matrix except the IE Matrix:Requires more information about the divisionsStrategic implications of each matrix are differentCh 6 -42IE MatrixBased on two key dimensionsThe IFE total weighted scores on the x-axisThe EFE total weighted scores on the y-axisDivided into three major

28、 regionsGrow and build Cells I, II, or IVHold and maintain Cells III, V, or VIIHarvest or divest Cells VI, VIII, or IXCh 6 -43QSPMTechnique designed to determine the relative attractiveness of feasible alternative actionsThe only one analytical technique in the literature Quantitative Strategic Plan

29、ning MatrixCh 6 -44QSPMThe QSPM uses input ( critical success factors) from Stage1 analyses and matching results from Stage2 analyses to decide objectively among alternative strategiesThe QSPM, like other strategy-formulation analytical tools, requires good intuitive judgment Ch 6 -45Steps to Develo

30、p a QSPMMake a list of the firms key external opportunities/threats and internal strengths/weaknesses in the left column ( this information should be taken directly from the EFE and IFE Matrices)Assign weights to each key external and internal factor ( these weights are identical to those in the EFE and IFE Matrices)Examine the Stage 2 (matching) matrices, and identify alternative strategies that the organization should consider implementingCh 6 -46Steps to Develop a QSPMDetermine the Attractiven