同济大学经济与管理学院俞秀宝.pptVIP

同济大学经济与管理学院 俞秀宝,1,WELLCOME TO Strategy and Strategic Management,School of Economics and Management Tongji University,同济大学经济与管理学院 俞秀宝,2,- Arthur A. Thompson, Jr. A. Strickland (1998), Strategic Management: Concepts and Cases (12th edition), Mechanical Industry and McGraw-Hill - David A. Aaker (1998), Strategic Market Management (fifth edition), John Wiley & Sons, Inc. - Gerry Johnson and Kevan Scholes (1998), Exploring Corporate Strategy (third edition, in Chinese), Prentice Hall - Fred R. David (1998), Strategic Management (Six edition, in Chinese), Economics Science Press - Cliff Bowman (1997), STRATEGIC MANAGEMENT, Press of China Peoples University and Prentice Hall,Reference Books,同济大学经济与管理学院 俞秀宝,3,Unit 1 Introduction,Objects are an organizations performance targets the results and outcomes it wants to achieve. Strategic objects Relate to outcomes that strengthen an organizations overall business position and competitive vitality.,同济大学经济与管理学院 俞秀宝,4,Strategy,Is a continuous, interactive process aimed at keeping an organization as a whole appropriately matched to its environment (Peter, 1988) A companys strategy consists of the competitive efforts and business approaches that managers employ to please customers, compete successfully and achieving organizational objects (Thompson & Strickeland, 2003),同济大学经济与管理学院 俞秀宝,5,Strategy is concerned with,the long term direction of an organization The scope of an organizations activities achieving advantage over competition matching activities to resources and capabilities the value of power holders major resources implications influence over operation decisions (Johnson & Scholes, 2002) And in China - ,同济大学经济与管理学院 俞秀宝,6,Levels of Strategies,Corporate HQ,SBU A,SBU B,SBU C,Manufacturing Marketing Accounting HR .,Corporate strategy,Competitive strategy,Functional strategies,同济大学经济与管理学院 俞秀宝,7,Content of strategy at different levels,corporate,SBU,Function,Portfolio and resource allocation,How to compete,Product, market Plans,同济大学经济与管理学院 俞秀宝,8,Formulating strategy,strategy,Market understanding,Major environment influences,Competitive analysis,Resource and capabilities,insights,同济大学经济与管理学院 俞秀宝,9,Schools of Strategy Formation,- Planning School - Designing School - Political School - Culture School - Learning School - Fate School - ,同济大学经济与管理学院 俞秀宝,10,Classical model of strategic planning,Strategy formulation,External appraisal Industry attractiveness Threats & opportunities Key successful factors Social responsibilities ,Internal analysis Organizational Strengths & weaknesses Core (distinctive) Competencies Managerial values Personal ambitions. Mintzberg, 1994),Strategy options evaluations,同济大学经济与管理学院 俞秀宝,11,Strategy perceived and realized,Designed strategy,Realized strategy,Intended strategy,Emergent strategy,Unrealized strategy,同济大学经济与管理学院 俞秀宝,12,Who Performs,CEO Vice presidents Major org. units,Production Marketing Human resource Other key department,Diversified companies: CEO Business units Department heads Managers of major operating units employees,同济大学经济与管理学院 俞秀宝,13,Unit 2 Vision and Mission,What is a strategic vision? Why have a vision or mission? Mission statement - how to define,同济大学经济与管理学院 俞秀宝,14,What is a Strategic Vision,Managements views and conclusions about: - organizations future course - the customer focus - the market position it should try to occupy - business activities What kind of company we are trying to create?,同济大学经济与管理学院 俞秀宝,15,Why Have a Vision or Mission,A prerequisite of effective strategic leadership - forming a strategic vision is not an exercise to create a catchy slogan thinking strategically about org future putting the company on a path that management is deeply committed to - Chart a company future,同济大学经济与管理学院 俞秀宝,16,Mission Statement,The mission statement sets out the organizations ground rules to its approach to doing business. A good statement usually address the following: a statement of beliefs and values the products or services that the firm will sell the markets within which the firm will trade how those markets will be reached the technologies that the firm will use attitudes to growth and financing,同济大学经济与管理学院 俞秀宝,17,Pepsi Cos Mission,“ Is to increase the value of our share holders investment. We do this through sales growth, cost control, and wise investment resources. We believe our commercial success depends upon offering quality and value to our consumers; providing products that are safe, wholesome, economically efficient and environmentaly sound; and providing a fair return to investors while adhering to the highest standards of integrity”.,同济大学经济与管理学院 俞秀宝,18,Vision of Amersham PK,“To build our position as a leading provider of products and technologies to enable the molecular medicine revolution, in which disease will be better understood, diagnosed sooner and treated more effectively”.,同济大学经济与管理学院 俞秀宝,19,Tongjis Vision,努力建设一所文理交融、医工结合， 科技教育与人文教育协调发展的研究型、 多功能的一流的现代化大学,同济大学经济与管理学院 俞秀宝,20,Financial Objects vs Strategic Objects,Financial objects Growth in revenues Growth in earnings Higher dividends Wider profit margins Higher returns Attractive EVA performance Strong bond and credit rating Bigger cash flows A rising stock price A more diversified revenue base Stable earning during recession,Strategic objects A big market share Quicker design-to-market times than rivals Higher product quality than rivals Lower costs relative to key competitors Broader pr more attractive product line than rivals A stronger reputation with customers than rivals Superior customer service Wide geographic coverage than rivals Recognition as a leader in technology and/or product innovation,同济大学经济与管理学院 俞秀宝,21,Establishing Objects,Setting objects: convert the strategic vision and directional course into specific performance target. Objects: represent a managerial commitment to achieving specific performance targets within a specific time frame. Experience: “companies whose managers set objects for each key result typically outperform companies whose managers exhibit good intentions, try hard, and hope for the best”.,同济大学经济与管理学院 俞秀宝,22,Unit 2 Activity,为你选定的一家企业撰写一个企业 愿景或使命。,同济大学经济与管理学院 俞秀宝,23,Unit 3 Industry and competitive analysis,Managers are not prepared to decided on a long term direction or a strategy until they have a keen understanding of the companys strategic situation the exact nature of The industry and competitive conditions it faces and how These conditions match up with its resources and capabilities. Thompson & Strickland (2003),同济大学经济与管理学院 俞秀宝,24,Sources of profit,Microeconomic context,Industry conditions,Firm resource capabilities,Industry attractiveness,Company performance,Industry Based view,Resource Based view,同济大学经济与管理学院 俞秀宝,25,A companys Macro-environment,company,suppliers,Buyers,New entrants,rivals,substitutes,Technology,The economy,Registration & regulations,Social and lifestyles,Population demographics,同济大学经济与管理学院 俞秀宝,26,PESTD Analysis,Political - political parties and alignment at local, national & regional trading-block level legislation, regulation, taxation, employment law Relations between government and the organization Government ownership of the industry and attitude to monopolies and to competition Economic resent and future Total GDP and GDP per head Inflation, Interest rates, Unemployment Disposable income and consumer expenditure Currency fluctuations & exchange rate Investment (from state, private and foreign firms) Key material unit cost (energy, transport, telecommunication, ) (Lynch, 2003),同济大学经济与管理学院 俞秀宝,27,PESTD Analysis,Social and culture - shift in value and culture, changes in lifestyle - Attitudes to work and leisure, “green environment” issues Education and health Distribution of incomes Technology rate of adoption of new technologies Expenditure on R&D by rivals New patents and products (Lynch 2003) Demogrphics - age, income, education, geographic lacation,同济大学经济与管理学院 俞秀宝,28,Environment Analysis- key issues,Political what changes in regulation are possible? What will be their impact be? What tax or other incentives are being developed that might affect strategy? what are the political risks operating in a government jurisdiction? Economic what are the economic prospects and inflation outlets for the countries in which the firm operates? How will they affect strategy? Social and culture what are the current or emerging trends in lifestyles, fashions, and other components of culture? Why? What are their implications? Technology To what extent are existing technologies maturing? What technological development or trends are affecting or will affect the industry? Demographics -what demographic trends will affect the market size or sub-market of the industry? - what trends represent opportunities and threats?,同济大学经济与管理学院 俞秀宝,29,Customer Analysis,Segmentation Strategic Business Units, definition How should segments be defined 5-10 variables and firm history Questions need to be asked for segmentation Customer motivations what lies behind their purchase decision Unmet needs represents the opportunities for firms,同济大学经济与管理学院 俞秀宝,30,Competitor Analysis,Identify your competitors Customer choices from your customers point of view Product approaches who is offering similar products Strategic Group approach Understanding competitors Size, growth, profitability Current and past strategies Cost structure Image, positioning, culture Competitors strengths and weaknesses,同济大学经济与管理学院 俞秀宝,31,What are the industrys dominant economic traits?,Market size Scope of competitive rivalry Market growth and where the industry is in the growth cycle Number of rivals and their relative sizes The number of buyers and their relative sizes The prevalence of backward and forward integration The pace of technology change Cost structure Whether rivals product or services are highly or weakly differentiated or identical Whether industry profitability is above/below par,同济大学经济与管理学院 俞秀宝,32,Learning curve,1 2 4 8 million units,Cost Per unit,$ 1 70 cents 35 cents,Cost reduction,Accumulated production,同济大学经济与管理学院 俞秀宝,33,Industry structure,Perfect competition - many equal suppliers of similar products Monopolistic competition - many sellers with each slightly differently Oligopoly - a few large suppliers Monopoly - one dominant seller,同济大学经济与管理学院 俞秀宝,34,Industry structure and advantages,Considerable very few Cost advantages,Differentiation advantages Considerable very few,Monopoly,Oligopoly,Perfect competition,Monopolistic competition,同济大学经济与管理学院 俞秀宝,35,Stages of industry evolution,Introduction Maturity Decline Growth,同济大学经济与管理学院 俞秀宝,36,Industry evolution and competition,Introduction growth maturity decline Demand high income enlarged repeating clever consumers Technology improve stable new prod decline Products low quality high quality standard low quality Manufacture high cost mass production more table over capacity enlarge Trade some export large export export dec no exp small import import inc large inp Competition few companies entry price compt out many many out,同济大学经济与管理学院 俞秀宝,37,Industry evolution,production,New product maturing product standardized product,Unit produced,Innovating country Other industrialized countries Developing countries,同济大学经济与管理学院 俞秀宝,38,Strategic groups,奥迪,别克,本田雅阁,帕萨特,桑塔纳,捷达,富康,夏利,奥托,悦达,market shares,- Firm in an industry following the same or a similar strategy along key dimensions - Variables price/quality/image geographic coverage market shares,price/quality/image,low,Car industry in 2000,同济大学经济与管理学院 俞秀宝,39,Common Types of Key Successful Factors,- The essential requirements for competing in an industry Technology-Related KSFs Manufacturing-Related KSFs Distribution-Related KSFs Marketing-Related KSFs Skill-Related KSFs Organizational Capacity Other Types,同济大学经济与管理学院 俞秀宝,40,Industry analysis key issues,Where is the industry now in terms of its evolution? what are the most important issue? where it will be ? And how it might take to go there? what are the implications to the firm?,同济大学经济与管理学院 俞秀宝,41,Competitive analysis,competitive force: pressures to companys profitability - Five force model Discover the main sources of competitive pressure and how strong each competitive force is? a key analytical tool to analyze whether an industry is attractive or not,同济大学经济与管理学院 俞秀宝,42,What is competitive like and how strong are each of the competitive forces?,COMPETING SELLERS,SUPPLIERS OF KEY INPUTS,SUBSTITUTES,BUYERS,POTENTIAL NEW ENTRANTS,Win buyers,Ability to exercise bargaining power and leverage,Threat of entry of new rivals,Bargaining power and leverage,同济大学经济与管理学院 俞秀宝,43,Rivalry intensity is likely to be high when,the number of competitors increases and as competitors become more equal in size and capabilities the demand for the product is growing slowly industry conditions tempt competitors use price cuts etc to boost unit volume customers costs to switch brands are low one or more competitors are dissatisfied with market position exit cost is high,同济大学经济与管理学院 俞秀宝,44,Buyers are like to have higher bargaining power when,low switch cost number of buyers are small a customer is particularly important to a seller they are well informed at sellers products, price, costs buyers pose a credible threat of integrating backward buyers have discretion in whether and when they purchase the products,同济大学经济与管理学院 俞秀宝,45,Supplier power tends to be higher if,number of suppliers are small less substitutes available in the market suppliers products are key to buyers significant switch cost for buyers supplier poses a credible threat of forward integration (porter, 1980),同济大学经济与管理学院 俞秀宝,46,Entry barriers of potential entrants,Government regulations and policies economics of scale learning and experience curve effects technology Brand preference and customer loyalty capital requirement distribution channels ,同济大学经济与管理学院 俞秀宝,47,Competitive pressures from substitutes,attractive price from substitutes better quality, performance, and other attributes low switching cost,同济大学经济与管理学院 俞秀宝,48,Strategic implications of five-force,As a rule, the stronger the collective impact of competitive forces, the low the combined profitability of participant firms.,同济大学经济与管理学院 俞秀宝,49,Unit 4 Case Study,阅读三星案例，并讨论该公司是否应该 投资主题公园项目？为什么？,同济大学经济与管理学院 俞秀宝,50,Unit 5 Evaluating Company Resources and competitive Capabilities,- How well is the companys present strategy working? - What are the companys resource strengths and weaknesses and its external opportunities and threats? - Are the companys prices and costs competitive? How strong is the companys competitive position relative to its rivals? What strategic issues does the company face? SWOT analysis, shareholder value analysis, value chain analysis, strategic cost analysis and competitive strength assessment,同济大学经济与管理学院 俞秀宝,51,How well is the companys present strategy working?,The firms market share in the industry - rising, stable or declining profit margin trends in the firms net profits, return on investment companys overall financial strength and credit rating is improving or on the decline trends in the companys stock price and shareholder value firms sales - growing faster or slower than the market as a whole The firms image and reputation, product or service quality, customer satisfaction, employees capability and performance the company is regarded as a leader or not,同济大学经济与管理学院 俞秀宝,52,What are the companys resource Strengths and Weaknesses and its external Opportunities and Threats?,-Provide a good overview of whether a firms business position is fundamentally healthy or unhealthy -Concept: a strength is something a company is good at doing or a characteristic that gives it enhanced competitiveness. -Concept: a weakness is that a company lacks or does poorly (in comparison to others) or a condition that puts it at a disadvantage.,同济大学经济与管理学院 俞秀宝,53,Identify companys strengths and resource capabilities,Strengths: skills and expertise, collection of assets, competitive capabilities and market achievements Forms of strengths: skill or expertise physical assets human assets organizational assets intangible assets competitive capabilities alliances or cooperative ventures,同济大学经济与管理学院 俞秀宝,54,Definitions,Resources Stocks of available factors that are owned or controlled by a firm Capabilities (competency) A firms ability to utilize resource to achieve a desired end (Amit etc, 1993),同济大学经济与管理学院 俞秀宝,55,Core competency,Core competencies: the ability to perform a competitively relevant activity very well (text book) Core competencies are the collective learning in the organization, especially hoe to coordinate diverse production skills and integrate multiple streams of technologies (Prahalad and Hamel,1990) is central to a companys competitiveness and profitability skills, knowledge and capabilities lies in a companys people, not in its assets on the balance sheet empowers a company to build competitive advantage A firm normally needs to have about 5 single competencies to keep a sustainable competitive advantages (Aaker, 2001),同济大学经济与管理学院 俞秀宝,56,Core competency and firm competitive advantage,Core competency Capabilities Resource,High performance than rivals,Delivery products and Services highly valued by customers Dynamic capabilities that are hard to copy by rivals,同济大学经济与管理学院 俞秀宝,57,Samples of core competencies,Core competency of Dell direct sells + quality product + service Core competency of EBA Papst High quality, reliable, innovative products and total thermal solutions Core competency of Sharp Corporation Flat-panel display technology (Liquid crystal displays) Core competency of Toyota and Honda - low cost, high quality manufacturing, short design-to-market cycles Core competency of your firm -,同济大学经济与管理学院 俞秀宝,58,Competitive Value of a Companys Resource,Is the resource hard to copy? 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