企业战略管理-第章四

Chapter4

TheInternalAssessmentStrategicManagement:

Concepts&Cases11thEditionFredDavid1ChapterOutlineTheNatureofanInternalAuditTheResource-BasedView(RBV)/VRIOIntegratingStrategy&Culture2ChapterOutline(cont’d)ManagementMarketingOpportunityAnalysis3ChapterOutline(cont’d)Finance/AccountingProduction/OperationsResearch&Development4ChapterOutline(cont’d)ManagementInformationSystemsTheValueChianAnalysis(VCA)5

Thebiggestleversyou’vegottochangeacompanyarestrategy,structure,andculture.IfIcouldpicktwo,I’dpickstrategyandculture.–

WayneLeonard,CEO,EntergyInternalAssessment

Weakleadershipcanwreckthesoundeststrategy.–

SunZi6NatureofanInternalAudit

--Strengths --Weaknesses

FunctionalAreasofBusiness7Internalstrengths/weaknessesExternalopportunities/threatsClearstatementofmissionNatureofanInternalAuditBasisforObjectives&Strategies8KeyInternalForcesFunctionalBusinessAreas:VarybyorganizationDivisionshavedifferingstrengths&weaknesses9KeyInternalForcesDistinctiveCompetencies:Firm’sstrengthsthatcannotbeeasilymatchedorimitatedbycompetitors10KeyInternalForcesDistinctiveCompetencies:Buildingcompetitiveadvantageinvolvestakingadvantageofdistinctivecompetencies11KeyInternalForcesDistinctiveCompetencies:Strategiesdesignedtoimproveonafirm’sweaknessesandturntostrengths12InternalAuditInformationfrom:ManagementMarketingFinance/accountingProduction/operationsResearch&DevelopmentManagementinformationSystemsParallelsprocessofexternalaudit13InternalAuditInvolvementinperforminganinternalstrategic-managementauditprovidesvehicleforunderstandingnatureandeffectofdecisionsinotherfunctionalbusinessareasofthefirm14InternalAuditCoordination&understandingamongmanagersfromallfunctionalareasKeytoOrganizationalSuccess15InternalAuditNumberandcomplexityincreasesrelativetoorganizationsizeFunctionalRelationships16InternalAuditExemplifiescomplexityofrelationshipsamongfunctionalareasofthebusinessFinancialRatioAnalysis17ResourceBasedView(RBV)/VRIOframeworkApproachtoCompetitiveAdvantageInternalresourcesaremoreimportantthanexternalfactors18VRIOFrameworkValueRarityInimitabilityOrganization1920ApplyingtheVRIOFrameworkValuable?Rare?Costlytoimitate?Exploitedbyorganisation?Competitiveimplicationsno--noCompetitivedisadvantageyesno-CompetitiveparityyesyesNoTemporarycompetitiveadvantageyesyesyesyesSustainedcompetitiveadvantage2021ApplyingtheVRIOFrameworkandorganisationalstrengthsandweaknessesValuable?Rare?Costlytoimitate?Exploitedbyorganisation?Competitiveimplicationsno--noweaknessyesno-strengthyesyesNoStrengthanddistinctivecompetenceyesyesyesyesStrengthandsustainabledistinctivecompetenceSource:BarneyandHesterly2006,StrategicManagementandCompetitiveAdvantageConcepts,Pearson,NewJersey.21ResourceBasedView(RBV)EmpiricalIndicatorsRareHardtoimitateNoteasilysubstitutable22IntegratingStrategy&CulturePatternofbehaviordevelopedbyanorganizationasitlearnstocopewithitsproblemofexternaladaptationandinternalintegration…isconsideredvalidandtaughttonewmembersOrganizationalCulture23IntegratingStrategy&CultureOrganizationalCultureResistanttochangeMayrepresent:StrengthWeakness24CulturalProductsValuesLegendsBeliefsHeroesRitesSymbolsRitualsMythsIntegratingStrategy&Culture25IntegratingStrategy&CultureOrganizationalCultureCanInhibitStrategicManagementMissexternalchangesduetostronglyheldbeliefsNaturaltendencyto““holdthecourse””evenduringtimesofstrategicchange26Tosuccessfullycompeteinworldmarkets,U.S.managersmustobtainabetterknowledgeofhistorical,cultural,andreligiousforcesthatmotivateanddrivepeopleinothercountries.2728ManagementFunctionsofManagementPlanningOrganizingMotivatingStaffingControlling29ManagementPlanningStageWhenMostImportantFunctionStrategyFormulationOrganizingStrategyImplementationMotivatingStrategyImplementationStaffingControllingStrategyImplementationStrategyEvaluation30ManagementPlanningBeginningofmanagementprocessBridgebetweenpresent&futureImproveslikelihoodofattainingdesiredresults31PlanningForecastingEstablishingobjectivesDevisingstrategiesDevelopingpoliciesSettinggoalsManagement32ManagementOrganizingAchievescoordinatedeffortDefinestask&authorityrelationshipsDepartmentalizationDelegationofauthority33OrganizingOrganizationaldesignJobspecializationJobdescriptionsJobspecificationsSpanofcontrolUnityofcommandCoordinationJobdesignJobanalysisManagement34ManagementMotivatingInfluencingtoaccomplishspecificobjectivesCommunication––majorcomponent35MotivatingLeadershipCommunicationWorkgroupsJobenrichmentJobsatisfactionNeedsfulfillmentOrganizationalchangeMoraleManagement36ManagementStaffingPersonnelmanagementHumanresourcesmanagement37StaffingWage&salaryadmin.EmployeebenefitsInterviewingHiringDischargingTrainingManagementdevelopmentAffirmativeActionEEOLaborrelationsManagement38ManagementControllingEstablishingperformancestandardsEnsureactualoperationsconformtoplannedoperationsTakingcorrectiveactions39ControllingQualityFinancialSalesInventoryExpenseAnalysisofvarianceRewardsSanctionsManagement40ManagementAuditChecklistDoesthefirmusestrategicmanagementconcepts?Areobjectives/goalsmeasurable?Wellcommunicated?Domanagersatalllevelsplaneffectively?41ManagementAuditChecklistDomanagersdelegatewell?Istheorganization’sstructureappropriate?Arejobdescriptionsclear?Arejobspecificationsclear?Isemployeemoralehigh?42ManagementAuditChecklistIsemployeeabsenteeismlow?Isemployeeturnoverlow?Aretherewardmechanismseffective?Aretheorganization’’scontrolmechanismseffective?43MarketingCustomerNeeds/WantsforProducts/ServicesDefiningAnticipatingCreatingFulfilling44MarketingMarketingFunctionsCustomeranalysisSellingproducts/servicesProduct&serviceplanningPricingDistributionMarketingresearchOpportunityanalysis45CustomerAnalysisCustomersurveysConsumerinformationMarketpositioningstrategiesCustomerprofilesMarketsegmentationstrategiesMarketing46AdvertisingSalesPromotionPublicitySalesforcemanagementCustomerrelationsDealerrelationsMarketingSellingProducts/Services47TestmarketingBrandpositioningDevisingwarranteesPackagingProductfeatures/optionsProductstyleQualityMarketingPlanningProduct/Service48ForwardintegrationDiscountsCredittermsConditionofsaleMarkupsCostsUnitpricingMarketingPricing49WarehousingChannelsCoverageRetailsitelocationsSalesterritoriesInventorylevelsTransportationMarketingDistribution50DatacollectionDatainputDataanalysisSupportbusinessfunctionsMarketingMarketingResearch51AssessingcostsAssessingbenefitsAssessingrisksCost/benefit/riskanalysisMarketingOpportunityAnalysis52MarketingOpportunityAnalysisAremarketssegmentedeffectively?Istheorganizationpositionedwellamongcompetitors?Hasthefirm’’smarketsharebeenincreasing?Arethedistributionchannelsreliable&costeffective?Isthesalesforceeffective?53MarketingOpportunityAnalysisDoesthefirmconductmarketresearch?Areproductquality&customerservicegood?Arethefirm’’sproducts/servicespricedappropriately?Doesthefirmhaveeffectivepromotion,advertising,&publicitystrategies?54MarketingOpportunityAnalysisArethemarketingplanning&budgetingeffective?Dothefirm’smarketingmanagershaveadequateexperienceandtraining?55Finance/AccountingDeterminingfinancialstrengths&weaknesseskeytostrategyformation56Finance/AccountingFinance/AccountingFunctionsInvestmentdecision(Capitalbudgeting)FinancingdecisionDividenddecision57Firm’’sabilitytomeetitsshort-termobligationsRatiosCurrentratioQuick(oracidtest)ratioBasicFinancialRatiosLiquidityRatios58ExtentofdebtfinancingRatiosDebt-to-totalassetsDebt-to-equityLong-termdebt-to-equityTimes-interestearnedBasicFinancialRatiosLeverageRatios59Effectiveuseoffirm’sresourcesRatiosInventory-turnoverFixedassetsturnoverTotalassetsturnoverAccountsreceivableturnoverAveragecollectionperiodBasicFinancialRatiosActivityRatios60Effectivenessshownbyreturnsonsales&investmentRatiosGrossprofitmarginOperatingprofitmarginNetprofitmarginReturnontotalassets(ROA)BasicFinancialRatiosProfitabilityRatios61Effectivenessshownbyreturnsonsales&investmentRatiosReturnonstockholdersequity(ROE)EarningspersharePrice-earningsratioBasicFinancialRatiosProfitabilityRatios(cont’d)62Firm’’sabilitytomaintaineconomicpositionRatiosSalesNetincomeEarningspershareDividendspershareBasicFinancialRatiosGrowthRatios63Finance/AccountingAuditWhereisthefirmstrong/weakasindicatedbyfinancialratioanalysis?Canthefirmraiseshort-termcapitalasneeded?Canthefirmraiselong-termcapitalasneededthroughdebtand/orequity?64Finance/AccountingAuditDoesthefirmhavesufficientworkingcapital?Arecapitalbudgetingprocedureseffective?Aredividendpayoutpoliciesreasonable?Arethefirm’’sfinancialmanagersexperienced&welltrained?65Finance/AccountingAuditEffectiveFinancialAnalysisRequires:AnalysisofhowtheratioshavechangedovertimeHowtheratioscomparetoindustrynormsHowtheratioscomparewithkeycompetitors66Production/OperationsProduction/OperationsFunctionsProcessCapacityInventoryWorkforceQuality67FacilitydesignTechnologyselectionFacilitylayoutProcessflowanalysisFacilitylocationLinebalancingProcesscontrolProduction/OperationsProcess68ForecastingFacilitiesplanningAggregateplanningSchedulingCapacityplanningQueuinganalysisProduction/OperationsCapacity69RawmaterialsWorkinprocessFinishedgoodsMaterialshandlingProduction/OperationsInventory70JobdesignWorkmeasurementJobenrichmentWorkstandardsMotivationtechniquesProduction/OperationsWorkforce71QualitycontrolSamplingTestingQualityassuranceCostControlProduction/OperationsQuality72Production/OperationsAuditAresuppliersofmaterials,parts,etc.reliableandreasonable?Arefacilities,equipment&machineryingoodcondition?Areinventory-controlpoliciesandprocedureseffective?73Production/OperationsAuditArequality-controlpolicies&procedureseffective?Arefacilities,resources,andmarketsstrategicallylocated?Doesthefirmhavetechnologicalcompetencies?74Research&DevelopmentResearch&DevelopmentFunctionsDevelopmentofnewproductsbeforecompetitorsImprovingproductqualityImprovingmanufacturingprocessestoreducecosts75FinancingasmanyprojectsaspossibleUsepercent-of-salesmethodBudgetingrelativetocompetitorsHowmanysuccessfulnewproductsareneededResearch&DevelopmentR&DBudgets76Research&DevelopmentAuditAretheR&Dfacilitiesadequate?IfR&Disoutsourced,isitcosteffective?AretheR&Dpersonnelwellqualified?AreR&Dresourcesallocatedeffectively?77Research&DevelopmentAuditAreMISandcomputersystemsadequate?IscommunicationbetweenR&D&otherorganizationalunitseffective?Arepresentproductstechnologicallycompetitive?78ManagementInformationSystemsPurposeImproveperformanceofanenterprisebyimprovingthequalityofmanagerialdecisions.79ManagementInformationSystemsInformationSystemsCIO/CTOSecurityUser-friendlyE-commerce80ManagementInformationSystemsAuditDomanagersusetheinformationsystemtomakedecisions?IsthereaCIOorDirectorofInformationSystemspositioninthefirm?Isdataupdatedregularly?81ManagementInformationSystemsAuditDomanagersfromallfunctionalareascontributeinputtotheinformationsystem?Arethereeffectivepasswordsforentryintothefirm’sinformationsystem?Arestrategistsofthefirmfamiliarwiththeinformationsystemsofrivalfirms?82ManagementInformationSystemsAuditIstheinformationsystemuser-friendly?Doallusersunderstandthecompetitiveadvantagesthatinformationcanprovide?Arecomputertrainingworkshopsprovidedforusers?Isthefirm’ssystembeingimproved?8384ValueChainValuechainisalinkedsetofvalue-creatingactivitiesbeginningwithbasicrawmaterialscomingfromsuppliers,movingontoaseriesofvalue-addedactivitiesinvolvedinproducingandmarketingaproductorservice,andendingwithdistributorsgettingthefinalgoodsintothehandsoftheultimateconsumer.Industryvaluechain(e.g.Theseatransportindustryvaluechain)Corporatevaluechain8485UsingValueChainAnalysis(VCA)toIdentifyInternalResourcesandCapabilitiesPorterarguesthatthebusinessofafirmcanbestbedescribedasavaluechain,inwhichtotalrevenuesminustotalcostsofallactivitiesundertakentodevelopandmarketaproductorserviceyieldsvalue.Thiscancreateafirm’’scompetitiveadvantage85CorporateValueChainAnalysisVCAreferstotheprocesswherebyafirmdeterminesthecostsassociatedwithorganisationalactivitiesfrompurchasingrawmaterialstomanufacturingproductstomarketingthoseproducts.VCAaimstoidentifywherelowcostadvantageordisadvantagesexistanywherealongthevaluechainfromrawmaterialtocustomerserviceactivities.VCAcanenableafirmtobetteridentifyitsownstrengthsandweaknesses,especiallycomparedtocompetitors’valuechainanalysesandtheirowndataexaminedovertime.868687CorporateValueChainValuecreatingofprimaryandsupportactivities.Source:Wheelen&Hunger(2004).8788CorporateValueChain:primaryactivitiesInboundlogisticsOperationsOutboundlogisticsMarketingandsalesservice8889Source:BarneyandHesterly(2006).8990ValueChainSupportingactivities:ProcurementTechnologydevelopmentHumanresourcemanagementGeneraladministration9091ValueChainSupportingactivitie