1、2003 Southwestern Publishing Company,1,Strategic Management and Strategic Competitiveness,Michael A. Hitt R. Duane Ireland Robert E. Hoskisson,Chapter 1,2,Strategy Implementation,Chapter 13 Strategic Entrepreneurship,Chapter 11 Organizational Structure and Controls,Chapter 10 Corporate Governance,Ch

2、apter 12 Strategic Leadership,Strategy Formulation,Strategic Competitiveness Above-Average Returns,Strategic Intent Strategic Mission,Chapter 2 The External Environment,Chapter 3 The Internal Environment,The Strategic Management Process,Feedback,Strategic Inputs,Strategic Actions,Strategic Outcomes,

3、Chapter 6 Corporate- Level Strategy,Chapter 9 Cooperative Strategy,Chapter 5 Competitive Rivalry and Competitive Dynamics,Chapter 8 International Strategy,Chapter 4 Business-Level Strategy,Chapter 7 Acquisition and Restructuring Strategies,3,Important Definitions,Strategic Management Process 策略管理程序,

4、The full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns,4,Important Definitions,Strategic Competitiveness 策略性競爭力,Achieved when a firm successfully formulates and implements a value-creating strategy,Occurs when a fir

5、m develops a strategy that competitors are not simultaneously implementing Provides benefits which current and potential competitors are unable to duplicate,Above-Average Returns平均以上報酬,5,Important Definitions,Risk風險,An investors uncertainty about the economic gains or losses that will result from a

6、particular investment,Returns that are equal to those an investor expects to earn from other investments with a similar amount of risk,Average Returns平均報酬,6,Fundamental nature of competition is changing,Competitive Landscape競爭情勢,Hypercompetitive environments超競爭環(huán)境,Dynamics of strategic maneuvering am

7、ong global and innovative combatants,Price-quality positioning, new know-how, first mover,Protect or invade established product or geographic markets,7,Fundamental nature of competition is changing,Hypercompetitive environments,Competitive Landscape,Emergence of global economy 全球經(jīng)濟的出現(xiàn),Goods, service

8、s, people, skills, and ideas move freely across geographic borders.,Spread of economic innovations around the world.,Political and cultural adjustments are required.,8,Fundamental nature of competition is changing,Hypercompetitive environments,Competitive Landscape,Emergence of global economy,Rapid

9、technological change 快速科技變遷,Increasing rate of technological change and diffusion,The information age,Increasing knowledge intensity,9,超競爭,Hypercompetition 產(chǎn)品生命週期短 均衡是短期現(xiàn)象 對手的行動會使自己喪失優(yōu)勢 很難有持久的競爭優(yōu)勢,10,Strategic Flexibility策略彈性,A set of capabilities used to respond to various demands and opportunities

10、 existing in a dynamic and uncertain competitive environment It involves coping with uncertainty and the accompanying risks,11,Strategic Flexibility,Strategic Flexibility,Strategic Flexibility,Strategic flexibility,12,1.Strategy dictated by the external environments of the firm (what opportunities e

11、xist in these environments?) 2.Firm develops internal skills required by external environment (what can the firm do about the opportunities?),1. External Environments,Industry Environment,Competitor Environment,I/O Model of Above-Average Returns,13,Four Assumptions of the I/O Model,1.The external en

12、vironment is assumed to possess pressures and constraints that determine the strategies that would result in above-average returns 2.Most firms competing within a particular or within a certain segment of it are assumed to control similar strategically relevant resources and to pursue similar strate

13、gies in light of those resources,14,Four Assumptions of the I/O Model,3.Resources used to implement strategies are highly mobile across firms 4.Organizational decision makers are assumed to be rational and committed to acting in the firms best interests, as shown by their profit-maximizing behaviors

14、,15,Industrial Organization Model,I/O Model of Above-Average Returns,1.Study the external environment, especially the industry environment economies of scale barriers to market entry diversification product differentiation degree of concentration of firms in the industry,16,I/O Model of Above-Averag

15、e Returns,2.Locate an attractive industry with a high potential for above-average returns,Attractive industry: one whose structural characteristics suggest above-average returns,Industrial Organization Model,17,I/O Model of Above-Average Returns,3.Identify the strategy called for by the attractive i

16、ndustry to earn above-average returns,Strategy formulation: selection of a strategy linked with above-average returns in a particular industry,Industrial Organization Model,18,I/O Model of Above-Average Returns,4.Develop or acquire assets and skills needed to implement the strategy,Assets and skills

17、: those assets and skills required to implement a chosen strategy,Industrial Organization Model,19,I/O Model of Above-Average Returns,5. Use the firms strengths (its developed or acquired assets and skills) to implement the strategy,Strategy implementation: select strategic actions linked with effec

18、tive implementation of the chosen strategy,Industrial Organization Model,20,I/O Model of Above-Average Returns,Industrial Organization Model,Superior returns: earning of above-average returns,21,1.Strategy dictated by unique resources and capabilities of the firm (what can the firm do best?) 2.Find

19、an environment in which to exploit these assets (where are the best opportunities?),Resource-based Model of Above Average Returns,1. Firms Resources,22,1.Identify the firms resources- strengths and weaknesses compared with competitors,Resources: inputs into a firms production process,Resource-based

20、Model of Above Average Returns,Resource-based Model,23,2.Determine the firms capabilities-what it can do better than its competitors,Capability: capacity of an integrated set of resources to integratively perform a task or activity,Resource-based Model of Above Average Returns,Resource-based Model,2

21、4,Four Attributes of Resources and Capabilities (Competitive Advantage),the firm is organized appropriately to obtain the full benefits of the resources in order to realize a competitive advantage,Valuable,allow the firm to exploit opportunities or neutralize threats in its external environment,Rare

22、,possessed by few, if any, current and potential competitors,Costly to imitate,when other firms cannot obtain them or must obtain them at a much higher cost,Nonsubstitutable,Resources and Capabilities,25,Core Competencies,Resources and capabilities that meet these four criteria become a source of:,V

23、aluable,Rare,Costly to imitate,Nonsubstitutable,Core Competencies 核心能力,Resources and Capabilities,26,Core Competencies are the basis for a firms,Competitive advantage 競爭優(yōu)勢,Strategic competitiveness 策略性競爭力,Ability to earn above-average returns 獲取平均以上報酬的能力,Core Competencies,27,3.Determine the potentia

24、l of the firms resources and capabilities in terms of a competitive advantage,Competitive advantage: ability of a firm to outperform its rivals,Resource-based Model of Above Average Returns,Resource-based Model,28,4.Locate an attractive industry,An attractive industry: an industry with opportunities

25、 that can be exploited by the firms resources and capabilities,Resource-based Model of Above Average Returns,Resource-based Model,29,5.Select a strategy that best allows the firm to utilize its resources and capabilities relative to opportunities in the external environment,Strategy formulation and

26、implementation: strategic actions taken to earn above average returns,Resource-based Model of Above Average Returns,Resource-based Model,30,Resource-based Model of Above Average Returns,Resource-based Model,Superior returns: earning of above-average returns,31,Strategic Intent & Mission,Strategic In

27、tent 策略性企圖,Winning competitive battles through deciding how to leverage internal resources, capabilities, and core competencies,Strategic Mission 策略性宗旨,An application of strategic intent in terms of products to be offered and markets to be served,奇異公司企圖成為市場的領(lǐng)者,選擇繼續(xù)經(jīng)營與欲退出的市場,32,Groups who are affecte

28、d by a firms performance and who have claims on its wealth,The firm must maintain performance at an adequate level in order to retain the participation of key stakeholders,The Firm and Its Stakeholders,Stakeholders 利益關(guān)係人,33,Capital Market Stakeholders 資本市場利益關(guān)係人,The Firm and Its Stakeholders,Sharehol

29、ders Major suppliers of capital Banks Private lenders Venture capitalists,Stakeholders,34,Capital Market Stakeholders,Product Market Stakeholders 產(chǎn)品市場利益關(guān)係人,The Firm and Its Stakeholders,Primary customers Suppliers Host communities Unions,Stakeholders,35,Capital Market Stakeholders,Product Market Stakeholders,Organizational Stakeholders 組織利益關(guān)係人,The Firm and Its Stakeholders,Employees Managers N