工商管理專業(yè)MBALectureLecture第1頁/共18頁KeyConsiderationsWearelookingattheissueofcorporatestrategyfromtheperspectiveofwhatisthemulti-businessscopeoftheorganisation.WhatistheoptimalnumberofbusinessesforthefirmShouldwestayinthisbusinessHowshouldourbusinessesbemanagedHowisthecorporationgoingtooperateasawhole2第2頁/共18頁3ThesourcesofsuperiorprofitabilityRATEOFRETURNABOVETHECOSTOFCAPITALHowdowemakeMoney?INDUSTRYATTRACTIVENESSWhichindustriesshouldwebein?CORPORATESTRATEGYCOMPETITIVEADVANTAGEHowshouldwecompete?BUSINESSSTRATEGY第3頁/共18頁StrategiesDiversificationtwobroadtypes:Relateddiversificationisdevelopmentbeyondthepresentproductandmarket,butstillwithinthebroadconfinesofthe‘industry’.ForExampleUnileverisadiversifiedcorporation,butvirtuallyallitsinterestsareintheconsumergoodsindustry.(a)Backwardintegrationreferstoinputsintothecurrentbusinessfurtherbackinthevaluesysteme.g.Rawmaterials,machinery,labour(b)Forwardintegrationreferstoactivitieswhichareconcernedwiththecompany’soutputse.g.Transport,distribution,repairs,andservicing.Thesearefurtherforwardinthevaluesystem(c)Horizontalintegrationreferstoactivitieswhicharecompetitivewithordirectlycomplementarytoacompany’spresentactivitiesUnrelateddiversificationreferstoactivitydevelopmentbeyondthepresentindustryintoproducts/markets,whichatfacevalue,maybearnoclearrelationshipwithpresentproducts/markets.4第4頁/共18頁Relateddevelopments;relatedandunrelateddiversification5第5頁/共18頁SomeReasonsforrelatedDiversificationPossibleadvantagesExamples/Comments1.ControlofsuppliesQuantityQualityPriceTeaProcessorsownplantationstosecurecontinuityofSupply.ComponentsformotorcarsmayneedtobemanufacturedbythecompanyPrintingfacilitycanbecheaperin-house2.ControlofmarketsUKshoemanufacturersownretailoutletstogainguaranteeddistribution3.AccessofinformationManufacturersareinvolvedinmachinerydevelopmentcompaniestokeepabreastofdevelopment4.CostsavingsFullyintegratedsteelplantssavecostonreheatingandtransportBuildingon:ExpertiseTechnologyAccountancyFirmsmovingintotaxadviceorcorporaterecoveryTransfertosimilartechnicalrequirementsinanotherfield6.SpreadingRiskAvoidoverrelianceononeproduct/market,butbuildonrelatedexperience7.ResourceUtilisationUnder-utilisedmanufactureracquirescompanywithcompatibleproductstofillcapacity6第6頁/共18頁SomereasonsforunrelateddiversificationPossibleAdvantagesExamples/CommentsNeedtouseexcesscashorsafeguardprofitsBuyingataxlosssituation2.PersonalvaluesorobjectivesofpowerfulfiguresPersonalimagelocallyornationallymaybeastrongmotiveExploitingunderutilisedresourcesFarmersusefieldsforcampsites,festivalsCompanieshiretheirconferencesfacilities4.EscapefrompresentbusinessAcompany’sproductsmaybeindeclineandunrelateddiversificationistheonlyescape5.SpreadingriskSomecompaniesbelieveitisgoodsensetohave‘a(chǎn)lltheireggsinonebasket’.6.EvenoutcyclicaleffectsinagivensectorToymanufacturersmakeasubcontractforplasticmouldproductsforindustry.7.BenefitsfromsynergisticeffectsPositivecashflowfromonebusinessusedtofundingrequirementsofanother7第7頁/共18頁StrategiesforDevelopmentWithdrawal:thisoptionneedstobeconsideredbyorganisationswhencompleteorpartialwithdrawalneedstobeconsidered.Assetscanchangeovertime,mayneedtodispose,acquireothersetc.Entrepreneurmayhaveachievedgoalswishestomoveonacquiredifferentthings.Consolidation:Ingrowingmarket,companyexpandswithmarkettomaintainshareofmarketInmaturemarketmoredifficultchallenges,tendencyisforemphasisoncost,qualityofproductorservice.Competitorsareallseekingtoconsolidatetherepositions第8頁/共18頁StrategiescontinuedConsolidationIndecliningmarkets;needtoconsidersignificantchangese.g.Buyinguptheorderbooksofthoseleavingthemarket,distributorsmayneedtofindnewsuppliers.Newinternalagreementstomaincompetitiveedge.Duringatransitionformamaturetoadecliningmarket,theymightconsiderharvestingi.e.gainingmaximumpayofffromstrongposition.e.g.Licensingoftechnology,ordistributionrights,orleasingfacilities.Difficultdecisionwhethertoremaininmarketwherethereisproductdeclinebutchanceofrecovery第9頁/共18頁StrategiesContinuedMarketPenetration:howeasythisisdependsonnatureofthemarketandpositionofcompetitors.Ingeneraleasieringrowingmarkets,thanstaticmarketsormaturemarkets.Productdevelopment:afirmmightthinkconsolidationisnotsufficientinitself.Nospecialstrategyforthisbutthefollowingfactorsinfirmshavebeenshowntohaveinfluencedtheirsuccess.TheyaremoremarketfocusedinselectingopportunitiesforproductdevelopmentandintailoringthemtomarketneedsTheyconcentratedondevelopingproductswhichbuiltontheircorecompetencesandskillsThecommunicatedthenewproductswellwithinthefirmthusavoidingdisruptionstothenewdevelopmentsTheyusedcross-disciplinaryteams,aswellasskillsandviewsformoutsidethefirm,includingsuppliersandcustomers.10第10頁/共18頁StrategiesContinuedMarketDevelopment:inthecaseofmarketdevelopmenttheorganisationmaintainsthesecurityofitspresentproductswhileventuringintonewmarketareas.ThesemayincludeNewmarketsegments;exploitingnewusesoftheproductornewgeographicalareasOptionofproductdevelopmentandmarketdevelopmenttogetherorseparatelyExportdriveOutsourcingtoothercountriesforcostsoflabour,transportsupplies.11第11頁/共18頁P(yáng)ortfolioAnalysisMarketPowerandMarketShareareimportantconceptsforastrategicbusinessunittoconsider.RelativemarketsharemeanstheamountofmarketshareafirmhasrelativetoitcompetitorsThereisanestablishedrelationshipbetweenmarketpowerandperformanceincommercialorganisations.UsefultobreakdownmarketsharebysegmentsandtoexaminemarketsharewithinthosesegmentsWhatisimportantistoseewhichmarketsegmentsareimportantfromcorporate/profitpointofview.Segmentmaybemorecompetitiveorgrowingmoreorbigger12第12頁/共18頁GrowthShareMatrix

MarketShareCOMPETITIVEPOSITIONHighLowStrongAverageWeakHighHighMarketStars?sIndustryGrowthAttractiveness

LowCashDogsMEDCowsLow

TheoriginalBostonConsultingGroupmatrix(BCG)13第13頁/共18頁GrowthShareMatrixcontinuedAstarisanSBUwhichhasahighmarketshareinagrowthmarket.Thefirmmaybespendingheavilytogainthatshare,butexperiencecurvebenefitsshouldmeanthatcostsarereducingovertimeandatfasterratethancompetitorsThequestionmarkisanSBUwithhighgrowbutdoesnothaveahighmarketshare.FirmcouldbespendingheavilybutnotreducingcostsandnotmakinginroadsoncompetitionTheCashCowhasahighmarketshareinamaturemarket.Lowgrowthmarketconditionsstable,needtospendisless.HighrelativemarketsharemeansSBUabletomaintainunitcostlevelsbelowcompetitors.Dogshavelowshareinstaticordecliningmarkets,worstofallcombinations,maydraincashandusedisproportionateamountoftimeandresources.14第14頁/共18頁MarketattractivenessandbusinessstrengthIndicatorsofSBUStrengthIndicatorsofmarketattractivenessMarketshareMarketsizeSalesforceMarketgrowthrateMarketingCyclicalityCustomerserviceCompetitivestructureR&DBarrierstoentryManufacturingIndustryprofitabilityDistributionTechnologyFinancialresourcesInflationImageRegulationWorkforceavailabilityBreadthofproductlineSocialIssuesQuality/reliabilityEnvironmentalissuesManagerialCompetencePoliticalissuesLegaliss