管理学原理第八章课件

©2007PrenticeHall,Inc.

Allrightsreserved.StrategicManagementChapter

8©2007PrenticeHall,Inc.Allrightsreserved.8–2LEARNINGOUTLINE

FollowthisLearningOutlineasyoureadandstudythischapter.TheImportanceofStrategicManagementDefinestrategicmanagement,strategy,andbusinessmodel.Explainwhystrategicmanagementisimportant.TheStrategicManagementProcessListthesixstepsinthestrategicmanagementprocess.Describewhatmanagersdoduringexternalandinternalanalyses.Explaintheroleofresources,capabilities,andcorecompetencies.Definestrengths,weaknesses,opportunities,andthreats.©2007PrenticeHall,Inc.Allrightsreserved.8–3LEARNINGOUTLINE(cont’d)

FollowthisLearningOutlineasyoureadandstudythischapter.TypesofOrganizationalStrategiesDescribethethreemajortypesofcorporatestrategies.DiscusstheBCGmatrixandhowit’sused.Describetheroleofcompetitiveadvantageinbusiness-levelstrategies.ExplainPorter’sfiveforcesmodel.DescribePorter’sthreegenericcompetitivestrategiesandtheruleofthree.©2007PrenticeHall,Inc.Allrightsreserved.8–4LEARNINGOUTLINE(cont’d)

FollowthisLearningOutlineasyoureadandstudythischapter.StrategicManagementinToday’sEnvironmentExplainwhystrategicflexibilityisimportant.Describestrategiesapplyinge-businesstechniques.Explainwhatstrategiesorganizationsmightusetobecomemorecustomerorientedandtobemoreinnovative.©2007PrenticeHall,Inc.Allrightsreserved.8–5Strategiesand

StrategicManagement

Strategy

Thedecisionsandactionsthatdeterminethelong-runperformanceofanorganization.Acomprehensiveplanforaccomplishinganorganization’sgoals.Anactionmanagerstaketoattainagoalofanorganization.StrategicManagement

Thesetofdecisionsandactionsusedtoformulateandexecutestrategiesthatwillprovideacompetitivelysuperiorfitbetweentheorganizationanditsenvironmentsoastoachieveorganizationalgoals.

©2007PrenticeHall,Inc.Allrightsreserved.8–6Alice’sadventuresinwonderland

byLewisCarrollWhereareweandwheredowewanttobe???©2007PrenticeHall,Inc.Allrightsreserved.8–7TheStrategicManagementProcess©2007PrenticeHall,Inc.Allrightsreserved.8–8StrategicManagementProcessStep1:Identifyingtheorganization’scurrent mission,goals,andstrategiesMission:thefirm’sreasonforbeingThescopeofitsproductsandservicesGoals:thefoundationforfurtherplanningMeasurableperformancetargets©2007PrenticeHall,Inc.Allrightsreserved.ComponentsofaMissionStatement©2007PrenticeHall,Inc.Allrightsreserved.8–10Examples:Google’s

MissionStatement“Toorganizetheworld’sinformationandmakeituniversallyaccessibleanduseful.”PhilosophyFocusontheuserandallelsewillfollow.It’sbesttodoonethingreally,reallywell.Fastisbetterthanslow.DemocracyontheWebworks.Youdon’tneedtobeatyourdesktoneedananswer.Youcanmakemoneywithoutdoingevil.Thereisalwaysmoreinformationoutthere.Theneedforinformationcrossesallborders.Youcanbeseriouswithoutasuit.Greatjustisn’tgoodenough.©2007PrenticeHall,Inc.Allrightsreserved.8–11Examples:AppleInc.ItwaswidelyreportedthatafamousquotefromSteveJobsinthe1980'swastheApplecompanymissionstatement:"Manisthecreatorofchangeinthisworld.Assuchheshouldbeabovesystemsandstructures,andnotsubordinatetothem.""Appleiscommittedtobringingthebestpersonalcomputingexperiencetostudents,educators,creativeprofessionalsandconsumersaroundtheworldthroughitsinnovativehardware,softwareandInternetofferings."

©2007PrenticeHall,Inc.Allrightsreserved.8–12Examples:A

“Ourvisionistobeearth'smostcustomercentriccompany;tobuildaplacewherepeoplecancometofindanddiscoveranythingtheymightwanttobuyonline.”

©2007PrenticeHall,Inc.Allrightsreserved.8–13Examples:LenovoOurmission:toinnovateforcustomersWearenowonecompanywithonegoal:Tobuildthebest,mostinnovativeproductsintheworld.Touseworld-classeconomicstoputnewandbettertechnologyinthehandsofmorepeople,byinnovatingoncostthesamewayweinnovateontechnology.Tofocusourenergyandourcommitmentonthesuccessandtrustofourcustomers.

©2007PrenticeHall,Inc.Allrightsreserved.8–14StrategicManagementProcess(cont’d)Step2:DoinganexternalanalysisTheenvironmentalscanningofspecificandgeneralenvironmentsFocusesonidentifyingopportunitiesandthreats©2007PrenticeHall,Inc.Allrightsreserved.8–15StrategicManagementProcess(cont’d)Step3:DoinganinternalanalysisAssessingorganizationalresources,capabilities,andactivities:Strengthscreatevalueforthecustomerandstrengthenthecompetitivepositionofthefirm.Weaknessescanplacethefirmatacompetitivedisadvantage.Analyzingfinancialandphysicalassetsisfairlyeasy,butassessingintangibleassets(employee’sskills,culture,corporatereputation,andsoforth)isn’taseasy.Steps2and3combinedarecalledaSWOTanalysis.(Strengths,Weaknesses,Opportunities,andThreats)©2007PrenticeHall,Inc.Allrightsreserved.8–16SWOTAnalysisS-STRENGTHS1.2.3....W-WEAKNESSES1.2.3....O-OPPORTUNITIES1.2.3....T-THREATS1.2.3....©2007PrenticeHall,Inc.Allrightsreserved.8–17ChecklistforanalyzingorganizationalstrengthsandweaknessesMagt.&OrganizationMagt.QualityStaffqualityDegreeofcentralizationPlanning,information,controlsystemsMarketingDistributionchannelsMarketshareAdvertisingefficiencyCustomersatisfactionProductqualityServicereputationSalesforceturnoverHumanresourcesEmployeeexperience,educationDiversificationTurnover,absenteeismWorksatisfactionFinanceProfitmarginDebt-equityratioInventoryratioReturnoninvestmentCreditratingProductionPlantlocationPurchasingsystemQualitycontrolProductivity/efficiencyResearchanddevelopmentLaboratorycapabilitiesResearchprogramsNewproductinnovationsTechnologyinnovations©2007PrenticeHall,Inc.Allrightsreserved.8–18SomepossiblefactorsinaSWOTanalysisS-STRENGTHS•

Marketdominance•

Corestrengths•

Economiesofscale•

Low-costposition•

Leadershipandmanagementskills•

Financialandcashresource•

Manufacturingabilityandageofequipment•

Innovationprocessesandresults•

Architecturenetwork•

Reputation•

Differentiatedproducts•

ProductorservicequalityW-WEAKNESSES•

Shareweaknesses•

Fewcorestrengthsandlowonkeyskills•

Oldplantwithhighercoststhan

competition•

Weakfinancesandpoorcashflow•

Managementskillsandleadershiplacking•

Poorrecordoninnovationandnewideas•

Weakorganisationwithpoorarchitecture•

Lowqualityandreputation•

Productsnotdifferentiatedand

dependentonfewproductsO-OPPORTUNITIES•

Newmarketsandsegments•

Newproducts•

Diversificationopportunities•

Marketgrowth•

Competitorweakness•

Strategicspace•

Demographicandsocialchange•

Changeinpoliticaloreconomicenvironment•

Newtakeoverorpartnershipopportunities•

Economicupturn•

InternationalgrowthT-THREATS•

Newmarketentrants•

Increasedcompetition•

Increasedpressuresfromcustomersandsuppliers•

Substitutes•

Lowmarketgrowth•

Economiccycledownturn•

Technologicalthreat•

Changeinpoliticaloreconomicenvironment•

Demographicchange.Newinternationaltradebarriers©2007PrenticeHall,Inc.Allrightsreserved.8–19IdentifyingtheOrganization’sOpportunities©2007PrenticeHall,Inc.Allrightsreserved.8–20StrategicManagementProcess(cont’d)Step4:FormulatingstrategiesDevelopandevaluatestrategicalternativesSelectappropriatestrategiesforalllevelsintheorganizationthatproviderelativeadvantageovercompetitorsMatchorganizationalstrengthstoenvironmentalopportunitiesCorrectweaknessesandguardagainstthreats©2007PrenticeHall,Inc.Allrightsreserved.8–21StrategicManagementProcess(cont’d)Step5:ImplementingstrategiesImplementation:effectivelyfittingorganizationalstructureandactivitiestotheenvironment.Theenvironmentdictatesthechosenstrategy;effectivestrategyimplementationrequiresanorganizationalstructurematchedtoitsrequirements.Step6:EvaluatingresultsHoweffectivehavestrategiesbeen?Whatadjustments,ifany,arenecessary?DoaSWOTanalysis:thinkingaboutmanagementandpersonalissue(10mins)TrytoperformaSWOTanalysisonabusinessyouknow.What,ifany,competitiveadvantagedoesthisorganizationhave?(Reference:page177ofyourtextbook)DoapersonalSWOTanalysis.Assessyourpersonalstrengthsandweaknesses.Whatareyougoodat?Whatareyounotsogoodat?Howwelldoyouhandleambiguity?Howcreativeareyou?Thenidentifycareeropportunitiesandthreats.©2007PrenticeHall,Inc.Allrightsreserved.8–22©2007PrenticeHall,Inc.Allrightsreserved.8–23TypesofOrganizationalStrategiesCorporateStrategiesTopmanagement’soverallplanfortheentireorganizationanditsstrategicbusinessunitsWhatbusinessarewein?TypesofCorporateStrategiesGrowth:expansionintonewproductsandmarketsStability:maintenanceofthestatusquoRenewal:redirectionofthefirmintonewmarkets©2007PrenticeHall,Inc.Allrightsreserved.8–24LevelsofOrganizationalStrategy©2007PrenticeHall,Inc.Allrightsreserved.8–25ThreelevelsofstrategyinorganizationsCorporate-levelstrategyWhatbusinessarewein?Business-levelstrategyHowdowecompete?Functional-levelstrategyHowdowesupportthebusiness-levelstrategy?©2007PrenticeHall,Inc.Allrightsreserved.8–26CorporateStrategiesGrowthStrategySeekingtoincreasetheorganization’sbusinessbyexpansionintonewproductsandmarkets.TypesofGrowthStrategiesConcentrationVerticalintegrationHorizontalintegrationDiversification©2007PrenticeHall,Inc.Allrightsreserved.8–27GrowthStrategiesConcentrationFocusingonaprimarylineofbusinessandincreasingthenumberofproductsofferedormarketsserved.VerticalIntegrationBackwardverticalintegration:attemptingtogaincontrolofinputs(becomeaself-supplier).Forwardverticalintegration:attemptingtogaincontrolofoutputthroughcontrolofthedistributionchannelorprovidecustomerserviceactivities(eliminatingintermediaries).©2007PrenticeHall,Inc.Allrightsreserved.8–28GrowthStrategies(cont’d)HorizontalIntegrationCombiningoperationswithanothercompetitorinthesameindustrytoincreasecompetitivestrengthsandlowercompetitionamongindustryrivals.RelatedDiversificationExpandingbycombiningwithfirmsindifferent,butrelatedindustriesthatare“strategicfits.”Advantages?Relatedness:similartechnology,commondistributionandmarketingskills,commonreputation,commoncustomersUnrelatedDiversificationGrowingbycombiningwithfirmsinunrelatedindustrieswherehigherfinancialreturnsarepossible.Disadvantages?©2007PrenticeHall,Inc.Allrightsreserved.8–29GrowthStrategies(cont’d)StabilityStrategyAstrategythatseekstomaintainthestatusquotodealwiththeuncertaintyofadynamicenvironment,whentheindustryisexperiencingslow-orno-growthconditions,oriftheownersofthefirmelectnottogrowforpersonalreasons.©2007PrenticeHall,Inc.Allrightsreserved.8–30GrowthStrategies(cont’d)RenewalStrategiesDevelopingstrategiestocounterorganizationweaknessesthatareleadingtoperformancedeclines.Retrenchment:focusingofeliminatingnon-criticalweaknessesandrestoringstrengthstoovercomecurrentperformanceproblems.Turnaround:addressingcriticallong-termperformanceproblemsthroughtheuseofstrongcosteliminationmeasuresandlarge-scaleorganizationalrestructuringsolutions.©2007PrenticeHall,Inc.Allrightsreserved.8–31Managingdiversification:CorporatePortfolioAnalysisManagersmanageportfolio(orcollection)ofbusinessesusingacorporateportfoliomatrixsuchastheBCGMatrix.BCGMatrixDevelopedbytheBostonConsultingGroupConsidersmarketshareandindustrygrowthrateClassifiesfirmsas:Cashcows:lowgrowthrate,highmarketshareStars:highgrowthrate,highmarketshareQuestionmarks:highgrowthrate,lowmarketshareDogs:lowgrowthrate,lowmarketshare©2007PrenticeHall,Inc.Allrightsreserved.8–32TheBCGMatrix©2007PrenticeHall,Inc.Allrightsreserved.8–33TheBCGGrowth/ShareMatrixMarketgrowthrateRelativemarket

shareProblemchild

(orQuestionmark)Earnings:low,unstable,growingCash

Flow:

negative,cashuserStrategy:analysetoinvest,harvestordivestStarEarnings:high,stable,growingCashFlow:

neutralStrategy:investforgrowthDogEarnings:low,unstableCashFlow:

neutralornegativeStrategy:focus,downsizetoharvestorwithdrawCashcowEarnings:high,stableCashFlow:

high,stableStrategy:milktoinvestinstarsorpromisingProblemChildren©2007PrenticeHall,Inc.Allrightsreserved.8–34BCG–OverallStrategicSequence1CashFlowFromMilkingCashCows2ConsolidateExistingStarsStarsBecomeFutureCashCows3FinancePromisingProblemChildrenProblemChildrenwithLowProspectsAbandoned4DogsDownsizingorWithdrawFocusStrategyforDogsProblemChildrenBecomeStarsStarsBecomefutureCashCows©2007PrenticeHall,Inc.Allrightsreserved.8–35BusinessorCompetitiveStrategyBusiness(orCompetitive)StrategyAstrategyfocusedonhowanorganizationshouldcompeteineachofitsSBUs(strategicbusinessunits).Howdowecompete?AmountofadDirectionandextentofR&DProductchangesMarkets©2007PrenticeHall,Inc.Allrightsreserved.8–36What’sthedifferencebetweenanorganization’scorecompetenciesanditscompetitiveadvantage?Corecompetenciesaretheorganization’smajorvalue-creatingcapabilitiesandskills.Competitiveadvantageiswhatsetsanorganizationapart.Notalltheorganization’scorecompetenciesaregoingtobesignificantsourcesofcompetitiveadvantage.

©2007PrenticeHall,Inc.Allrightsreserved.8–37TheRoleofCompetitiveAdvantageCompetitiveAdvantageAnorganization’sdistinctivecompetitiveedge.QualityasaCompetitiveAdvantageDifferentiatesthefirmfromitscompetitors.Cancreateasustainablecompetitiveadvantage.Representsthecompany’sfocusonqualitymanagementtoachievecontinuousimprovementandmeetcustomers’demandforquality.©2007PrenticeHall,Inc.Allrightsreserved.8–38TheRoleofCompetitiveAdvantage(cont’d)SustainableCompetitiveAdvantageContinuingovertimetoeffectivelyexploitresourcesanddevelopcorecompetenciesthatenableanorganizationtokeepitsedgeoveritsindustrycompetitors.©2007PrenticeHall,Inc.Allrightsreserved.8–39Porter’sGenericStrategiesCompetitiveAdvantageLowercostDifferentiationCompetitiveBroadtarget

CostLeadershipe.g.Dell;Wal-martDifferentiatione.g.Rolex;BMW;NikonScopeNarrowtarget

FocusedCostLeadershipe.g.DollarTreeFocusedDifferentiatione.g.A&F©2007PrenticeHall,Inc.Allrightsreserved.8–40Genericstrategies

(Cont.)CostleadershipDesigning-incostreduction:beforetheproducteverreachesthefactoryfloor,redesignofitscomponentsmaysavesubstantialcostsSupplierrelationships:negotiatingbetterpricesforthesamequalitywillreducecostsforamanufacturerEconomiesofscale:unitcostsmayreduceasthesizeoftheplantincreasesEconomiesofscope:itmaybepossiblefordifferentproductstosharesomefunctionalcosts,e.g.commonservices,andsoreducecostsTheExperienceCurve:asacompanybecomesmoreexperiencedatproduction,itshouldbeabletoreducecosts©2007PrenticeHall,Inc.Allrightsreserved.8–41Genericstrategies

(Cont.)Differentiation:high-quality;highvalueDifferentiationisnotnecessarilyaccompaniedbyhigherprices:itmaybeusedtobuildmarketshareandlowerprofitsAchievingdifferentiationthrough:UniquenessorimprovementsinproductsorservicesMarketing-basedapproachesCompetence-basedapproaches“Intheabsenceofsufficientproductdifferentiationorinnovation,it’shardtocreateconsumervalueandshareholdervalue”A.G.Lafley,CEOofP&GFortune,Feb,212005©2007PrenticeHall,Inc.Allrightsreserved.8–42Genericstrategies

(Cont.)Focus(niche)DistinctionbetweenbroadandnarrowtargetsAlthoughtheneedforamarketnichestrategymayhavebeenidentified,thereisnoguidanceonthemoredifficultaspectofidentifyingwhichnicheStuck-in-the-middleEmpiricalevidencethatsomecompaniespursuebothlow-costleadershipanddifferentiation©2007PrenticeHall,Inc.Allrightsreserved.8–43Bowman’sStrategyClock(1996)©2007PrenticeHall,Inc.Allrightsreserved.8–44Bowman’sStrategyClockOptionone-lowprice/lowaddedvaluelikelytobesegmentspecific.Optiontwo-lowpriceriskofpricewarandlowmargins/needtobea'costleader'.Optionthree-hybridlowcostbaseandreinvestmentinlowpriceanddifferentiation.Optionfour-differentiation(a)withoutapricepremium:perceivedaddedvaluebyuser,yieldingmarketsharebenefits.(b)withapricepremium:perceivedaddedvaluesufficienttobearpricepremium.©2007PrenticeHall,Inc.Allrightsreserved.8–45Optionfive-focusseddifferentiationperceivedaddedvaluetoa'particularsegment'warrantingapremiumprice.Optionsix-increasedprice/standardhighermarginsifcompetitorsdonotfollow/riskoflosingmarketshare.Optionseven-increasedprice/lowvaluesonlyfeasibleinamonopolysituation.Optioneight-lowvalue/standardpricelossofmarketshare.©2007PrenticeHall,Inc.Allrightsreserved.8–46ForcesintheIndustryAnalysisSource:BasedonM.E.Porter,CompetitiveStrategy:TechniquesforAnalyzingIndustriesandCompetitors(NewYork:TheFreePress,1980).©2007PrenticeHall,Inc.Allrightsreserved.8–47FiveCompetitiveForcesThreatofNewEntrants

(entrybarriers)Theeaseordifficultywithwhichnewcompetitorscanenteranindustry.ThreatofSubstitutesTheextenttowhichswitchingcostsandbrandloyaltyaffectthelikelihoodofcustomersadoptingsubstitutesproductsandservices.BargainingPowerofBuyersThedegreetowhichbuyershavethemarketstrengthtoholdswayoverandinfluencecompetitorsinanindustry.©2007PrenticeHall,Inc.Allrightsreserved.8–48FiveCompetitiveForcesBargainingPowerofSuppliersTherelativenumberofbuyerstosuppliersandthreatsfromsubstitutesandnewentrantsaffectthebuyer-supplierrelationship.CurrentRivalryIntensityamongrivalsincreaseswhenindustrygrowthratesslow,demandfalls,andproductpricesdescend.©2007PrenticeHall,Inc.Allrightsreserved.8–49FiveForcesFramework(cont.)Threatofnewentrants(entrybarriers)EconomiesofscaleDifferentiationBrandloyaltyStart-upcapitalrequirementsSwitchingcostsAccesstosupplyanddistributionchannelsLegislationorgovernmentactionRetaliation(e.g.pricecutsandadvertisingcampaigns)Entrydeterringprice©2007PrenticeHall,Inc.Allrightsreserved.8–50FiveForcesFramework(cont.)Relativeprice/performanceofsubstitutesSwitchingcostsEffectivenessinmeetingspecificcustomerneedsWillingnessofbuyerstosubstituteProductdifferentiationBrandloyaltyDeterminantsofsubstitutionthreatProduct-for-productsubstitution(e.g.postmailande-mail)Substitutionofneed(morereliabletransportsreducingtheneedforcars)Generic

substitution©2007PrenticeHall,Inc.Allrightsreserved.8–51FiveForcesFramework(cont.)

Competitiverivalrydeterminants

Marketgrowthrates(lifecycle)OvercapacityFixedcostsNumberofcompetitorsintheindustrySimilarityofthesizeandpowerofthecompetitorsDifferentiationoftheproducts/servicesprovided(switchingcostsforbuyers)BrandloyaltyamongconsumersBarrierstoexit(fixedcostsofexit,emotionalattachment,governmentrestrictions,etc)©2007PrenticeHall,Inc.Allrightsreserved.8–52FiveForcesFramework(cont.)Keyquestionsarisingfromthe‘FiveForces’FrameworkWhatarethekeyforcesatworkinthecompetitiveenvironment?Whataretheunderlyingforcesinthemacroenvironmentthataredrivingcompetitiveforces?Isitlikelythattheforceswillchange,andifso,how?Howdoparticularcompetitorsstandinrelationtothesecompetitiveforces?Whatcanmanagersdotoinfluencethecompetitiveforcesaffectingthecompany?Aresomeindustriesmoreattractivethanothers?©2007PrenticeHall,Inc.Allrightsreserved.8–53StrategicManagementTodayStrategicFlexibilityNewDirectionsinOrganizationalStrategiese-businesscustomerserviceinnovation©2007PrenticeHall,Inc.Allrightsreserved.8–54 CreatingStrategicFlexibilityKnowwhat’shappeningwithstrategiescurrentlybeingusedbymonitoringandmeasuringresults.Encourageemployeestobeopenaboutdisclosingandsharingnegativeinformation.Getnewideasandperspectivesfromoutsidetheorganization.Havemultiplealternativeswhenmakingstrategicdecisions.Learnfrommistakes.Source:BasedonK.ShimizuandM.A.Hitt,“StrategicFlexibility:OrganizationalPreparednesstoReverseIneffectiveStrategicDecisions,”AcademyofManagementExecutive,November2004,pp.44–59.©2007PrenticeHall,Inc.Allrightsreserved.8–55HowtheInternetHasChangedBusinessTheInternetallows