管理学专题-3.ppt

management sem shandong agriculture university 主讲教师： 李 平 英 management sem shandong agriculture university “without a strategy the organization is like a ship without a rudder, going around in circles.” “quote” management sem shandong agriculture university n1. where are we now? n2. where do we want to go? nbusiness(es) to be in and market positions to stake out? nbuyer needs and groups to serve? noutcomes to achieve? n3. how do we get there? thinking strategically: the three big strategic questions management sem shandong agriculture university na companys strategy consists of the set of competitive moves and business approaches that management is employing to run the company nstrategy is managements “game plan” to nattract and please customers nstake out a market position nconduct operations ncompete successfully nachieve organizational objectives what is strategy? management sem shandong agriculture university figure 1-1: the five tasks of strategic management craft a strategy to achieve objectives set objectives develop a strategic vision and mission implement and execute strategy improve/ change revise as needed revise as needed improve/ change recycle as needed task 1task 2task 3task 4task 5 monitor, evaluate, and take corrective action management sem shandong agriculture university developing a strategic vision ninvolves thinking strategically about nfirms future business plans nwhere to “go” ntasks include ncreating a roadmap of the future ndeciding future business position to stake out nproviding long-term direction ngiving firm a strong identity first task of strategic management management sem shandong agriculture university missions vs. strategic visions na mission statement focuses on current business activities - “who we are and what we do” ncurrent product and service offerings ncustomer needs being served ntechnological and business capabilities a strategic vision concerns a firms future business path - “where we are going” markets to be pursued future technology-product- customer focus kind of company that management is trying to create management sem shandong agriculture university our vision: getting to a billion connected computers worldwide, millions of servers, and trillions of dollars of e-commerce. intels core mission is being the building block supplier to the internet economy and spurring efforts to make the internet more useful. being connected is now at the center of peoples computing experience. we are helping to expand the capabilities of the pc platform and the internet. intel management sem shandong agriculture university our business is renting cars. our mission is total customer satisfaction. avis rent-a-car management sem shandong agriculture university setting objectives nconverts strategic vision and mission into specific performance targets ncreates yardsticks to track performance npushes firm to be inventive and focused on results nhelps prevent complacency and coasting second task of strategic management management sem shandong agriculture university objectives nall manager at every levels need to set objectives ncompany wide objective need to be broken down specific target for each organizational units and lower level managers nthe broken objectives should be consistent with each other and with the whole companys objective management sem shandong agriculture university types of objectives required outcomes focused on improving financial performance outcomes focused on improving long- term, competitive business position financial objectives strategic objectives $ management sem shandong agriculture university examples of financial objectives ngrow earnings per share 15% annually nboost annual return on investment (or eva) from 15% to 20% within three years nincrease annual dividends per share to stockholders by 5% each year nstrive for stock price appreciation equal to or above the s technology advances; any number of other outside developments occur none or more aspects of executing the strategy may not be going well nnew managers with different ideas take over norganizational learning occurs nall these trigger the need for corrective actions and adjustments fifth task of strategic management management sem shandong agriculture university who performs the five strategic management tasks? nsenior corporate executives nmanagers of subsidiary business units nfunctional area managers noperating managers management sem shandong agriculture university strategic role of a board of directors ncritically appraise and ultimately approve strategic action plans nevaluate strategic leadership skills of the ceo and candidates to succeed the ceo management sem shandong agriculture university macroenvironment legislation and regulation societal values and lifestyles population demographics technology the economy at large company supplierssubstitutes buyer s new entrants rival firms immediate industry and competitive environment management sem shandong agriculture university industry and industry and competitive competitive analysisanalysis management sem shandong agriculture university methods of industry and competitive analysis nindustrys dominant economic traits nindustrys competitive forces ndrivers of industry change ncompetitive positions of rivals ncompetitive moves of rivals nkey success factors nconclusions: overall industry attractiveness management sem shandong agriculture university question 1: what are the industrys dominant economic traits? nmarket size and growth rate nscope of competitive rivalry nnumber of competitors and their relative sizes nprevalence of backward/forward integration nentry/exit barriers nnature and pace of technological change nproduct and customer characteristics nscale economies and experience curve effects ncapacity utilization and resource requirements nindustry profitability management sem shandong agriculture university cost advantages of different experience curve effects $1 $1 .90 .80 .70 .81 .64 .49 .729 .512 .343 10% cost reduction 20% cost reduction 30% cost reduction 1 million units 2 million units 4 million units 8 million units cost per unit management sem shandong agriculture university question 2: what is competition like and how strong are the competitive forces? nto identify nmain sources of competitive forces nstrength of these forces nkey analytical tool nfive forces model n of competition management sem shandong agriculture university five forces model of competition substitute products (of firms in other industries) suppliers of key inputs buyers potential new entrants rivalry among competing sellers management sem shandong agriculture university what forces change industry conditions? ninternet and e-commerce opportunities nincreasing globalization of industry nchanges in long-term industry growth rate nchanges in who buys the product and how they use it nproduct innovation ntechnological change/process innovation nmarketing innovation management sem shandong agriculture university question 4: which companies are in strongest / weakest positions? types of video game suppliers/distribution channels overall cost to players of video games low (coin-operated equipment) medium (video players cost $100-$300) high (use pc) video arcades, coin-operated machines home pcs video game consoles online game sites sony, sega, nintendo, several others arcade operators publishers of games on cd-roms msn gaming zone, p, america online, heat, engage, oceanline, ten management sem shandong agriculture university question 5: what strategic moves are rivals likely to make next? na firms own best strategic moves are affected by ncurrent strategies of competitors nfuture actions of competitors nprofiling key rivals involves gathering competitive intelligence about their ncurrent strategies nmost recent moves nresource strengths and weaknesses nannounced plans management sem shandong agriculture university question 6: what are the key factors for competitive success? ncompetitive elements most affecting every industry members ability to prosper nspecific strategy elements nproduct attributes nresources ncompetencies ncompetitive capabilities nksfs spell the difference between nprofit and loss ncompetitive success or failure management sem shandong agriculture university example: ksfs for beer industry nutilization of brewing capacity - to keep manufacturing costs low nstrong network of wholesale distributors - - to gain access to retail outlets nclever advertising - to induce beer drinkers to buy a particular brand management sem shandong agriculture university example: ksfs for apparel manufacturing industry nfashion design - to create buyer appeal nlow-cost manufacturing efficiency - to keep selling prices competitive management sem shandong agriculture university example: ksfs for tin and aluminum can industry nlocating plants close to end-use customers - to keep costs of shipping empty cans low nability to market plant output within economical shipping distances management sem shandong agriculture university question 7: is the industry attractive or unattractive and why? develop conclusions about whether the industry and competitive environment is attractive or unattractive, both near- and long-term, for earning good profits objective principle a firm uniquely well-suited in an otherwise unattractive industry can, under certain circumstances, still earn unusually good profits management sem shandong agriculture university evaluating company evaluating company resources and resources and competitive capabilitiescompetitive capabilities management sem shandong agriculture university company situation analysis: 1. how well is firms present strategy working? 2. what are the firms resource strengths and weaknesses and its external opportunities and threats? 3. are firms prices and costs competitive? management sem shandong agriculture university question 1: how well is the present strategy working? ntwo steps involved ndetermine current strategy of company nexamine key indicators of strategic and financial performance management sem shandong agriculture university ntrend in sales and market share nacquiring and/or retaining customers ntrend in profit margins ntrend in net profits, roi, and eva noverall financial strength and credit ranking nefforts at continuous improvement activities ntrend in stock price and stockholder value nimage and reputation with customers nleadership role(s) - technology, quality, innovation, e-commerce, etc. management sem shandong agriculture university question 2: what are the firms s w o t s w o t ? n n s w o t s w o t represents the first letter in ns trengths nw eaknesses no pportunities nt hreats nfor a companys strategy to be well- conceived, it must be matched to both nresource strengths and weaknesses nbest market opportunities and external threats to its well-being sw ot management sem shandong agriculture university figure 4.1: mobilizing company resources to produce competitive advantage competitive advantage strategic assets and market achievements core and distinctive competencies competitive capabilities company resources management sem shandong agriculture university na company competence is the product of organizational learning and experience and represents real proficiency in performing an internal activity na core competence is a well-performed internal activity that is central (not peripheral or incidental) to a companys competitiveness and profitability na distinctive competence is a competitively valuable activity that a company performs better than its rivals management sem shandong agriculture university question 3: are the companys prices and costs competitive? nassessing whether a firms costs are competitive with those of rivals is a crucial part of company analysis nkey analytical tools nstrategic cost analysis nvalue chain analysis nbenchmarking management sem shandong agriculture university nprices paid for raw materials, component parts, energy, and other supplier resources nbasic technology and age of plant avoid scale diseconomies ncapture learning and experience curve effects nmanage costs of key resource inputs nconsider linkages with other activities in value chain nfind sharing opportunities with other business units ncompare vertical integration vs. outsourcing nassess first-mover advantages vs. disadvantages ncontrol percentage of capacity utilization nmake prudent strategic choices related to operations management sem shandong agriculture university approach 2: revamping the value chain nabandon traditional business methods and shift to e- business technologies and use of internet nuse direct-to-end-user sales/marketing methods nsimplify product design noffer basic, no-frills product/service nshift to a simpler, less capital-intensive, or more flexible technological process nfind ways to bypass use of high-cost raw materials nrelocate facilities closer to suppliers or customers ndrop “something for everyone” approach and focus on a limited product/service nreengineer core business processes management sem shandong agriculture university differentiation strategies nincorporate differentiating features that cause buyers to prefer firms product or service over brands of rivals nfind ways to differentiate that create value for buyers and that are not easily matched or cheaply copied by rivals nnot spending more to achieve differentiation than the price premium that can be charged keys to success objective management sem shandong agriculture university nunique taste - dr. pepper nmultiple features - microsoft windows and office nwide selection and one-stop shopping - home depot and a nsuperior service - fedex, ritz-carlton nspare parts availability - caterpillar nmore for your money - mcdonalds, wal-mart nprestige - rolex nquality manufacture - honda, toyota ntechnological leadership - 3m corporation, intel ntop-of-the-line image - ralph lauren, chanel management sem shandong agriculture university focus / niche strategies ninvolve concentrated attention on a narrow piece of the total market serve niche buyers better than rivals nchoose a market niche where buyers have distinctive preferences, special requirements, or unique needs ndevelop unique capabilities to serve needs of target buyer segment objective keys to success management sem shandong agriculture university nbig enough to be profitable and offers good growth potential nnot crucial to success of industry leaders ncostly or difficult for multi-segment competitors to meet specialized needs of niche members nfocuser has resources and capabilities to effectively serve an attractive niche nfew other rivals are specializing in same niche nfocuser can defend against challengers via superior ability to serve niche members management sem shandong agriculture university vertical integration strategies nvertical integration extends a firms competitive scope within same industry nbackward into sources of supply nforward toward end-users of final product ncan aim at either full or partial integration internally performed activities, costs, it forces your hand.” management sem shandong agriculture university gain access to new customers capitalize on resource strengths and competencies help achieve lower costs spread business risk across wider market base obtain access to valuable natural resources management sem shandong agriculture university multi-country competition global competition two primary patterns of international competition management sem shandong agriculture university neach country market is self-contained- buyers have different expectation and like different styling and features, ncompetition in one country market is independent of competition in other country markets nrivals competing in one country market differ from set of rivals competing in another country market nrivals vie for national market leadership nno “international” market, just a collection of country markets multi-country competition management sem shandong agriculture university global competition ncompetitive conditions across country markets are strongly linked together nmany of same rivals compete in many of the same country markets nrivals vie for worldwide leadership na true international market exists na firms competitive position in one country is affected by its position in other countries ncompetitive advantage (or disadvantage) is based on a firms world-wide operations and overall global standing management sem shandong agriculture university strategy options for international markets nexporting nlicensing nfranchising strategy nmulti-country strategy nglobal strategy based on nlow cost ndifferentiation nbest-cost nfocusing nstrategic alliances or joint ventures management sem shandong agriculture university single business strategy nless ambiguity about “who we are” nenergies of firm can be directed down one business path and keeping strategy responsive to industry change nless chance resources will be stretched thinly over too many competing activities nresources can be focused on building competencies and capabilities that make the firm better at what it does management sem shandong agriculture university risks of a single business strategy nputting all the “eggs” in one industry basket nif market becomes unattractive, a firms prospects can quickly dim nunforeseen changes can undermine a single business firms prospects nchanging customer needs ntechnological innovation nnew substitutes management sem shandong agriculture university when to diversify? ndiminishing growth prospects in present business nopportunities to add value for customers or gain competitive advantage by broadening present business to include complementary products nattractive opportunities to transfer existing competencies to new businesses npotential cost-saving opportunities to b