贝恩行业分析-互联网影响-PointofView.ppt

Authors:,Reviewers:,bc,PointofView,Created:June1999,HeidiLockeSimonLangstonJonesJeffreyKuo,DavidSandersonEmmaGrayAaronCheris,2,PointofView,WhatimpactistheInternethaving?HowwilltheInternetaffectmybusiness?Whatshouldwebedoingtorespond?Whatarethekeystosuccess?,Executivesacrosstheboardareposingfourfundamentalquestions:,Overview,BainsPointofView,3,PointofView,Agenda,InternetImpactDetailBusinessImpactDetailResponseAlternativesKeySuccessFactors,4,PointofView,TheInternetisamajordiscontinuitythatwillredefinethestrategiclandscapeineveryindustry.,Theseresultindramaticchangesacrosscompanyrelationshipswithcustomers,suppliers,employeesandotherstakeholders,RedefinitionofentireuserexperienceNewchanneltocapturegrowthopportunitiesElectronicmanagementofupstreamsupplychainrelationshipsTightlinkageofend-userdemandtocompanyoperationsRedeploymentofphysicalandhumanresourcestofacilitatedramaticproductivityimprovement,Overview(1of2),InternetImpactDetail,5,PointofView,TheInternetisamajordiscontinuity.,TheInternetisadynamicmedium,andfurthersignificantshiftshaveyettoplayout,DramaticallyenhancednetworkperformanceHighspeedaccesswidelyavailableNewdemographicwavesNewspecialized(non-PC)accessdevicesandnewaccessbusinessmodelsValueaddedreintermediationIntegrationofphysicalandelectronicparticipation,Overview(2of2),InternetImpactDetail,6,PointofView,TheInternetwillredefinethestrategiclandscapeineveryindustry.,Productcustomization/qualityGeographicproximity,MechanicalinnovationTransportationinfrastructure,ScaleeconomiesMassmarketing,UbiquitousreachtoallstakeholdersDramaticallylowercostinteractionsComplete,symmetric,“free”information,Wellordered,multi-tiereddistributionEfficient,optimizedphysicaltouchrelationships,TrulyuniqueuserexperiencedeepercustomerrelationshipsbroaderreachCompleterestructuringofindustrysupplychainsLowercostandenhancedproductivity,CraftBasedEconomy,IndustrialRevolution,MassProduction,Internet/InformationRevolution,Suppliers,DIstrIbutors,Manufacturing,Resellers,Customers,InternetRevolution,InternetImpactDetail,7,PointofView,InternetCharacteristics,Definingcharacteristicsofthisnewcommunicationsmediumareredefiningallcompaniesstakeholderinteractions.,ExampleImplications:,DramaticallyLowerCostInteraction,KeyCharacteristics:,Anyone,anytime,anywhereinteraction,Substituteshighcosthumanforlowcostelectronicinteraction,Frictionlessinformationexchange,UniversalaccessLowcost/highbandwidthinfrastructure,Powershiftstobuyersthroughpricing,inventoryandotherinformationvisibilityTargetedsegmentationenables“customer”levelcustomizationandprofitmeasurement,InternetGlobalCommunicationsMedium,Complete,Symmetrical,“Free”InformationAvailability,Reducesnumberof“touches”ineachinteractionEliminatesindustryandorganizationallayers,Providesaccesstonewcustomersegments,broadersupplierbaseandincreasedpoolofemployeesCreatesfoundationforstrengtheningrelationshipsandimprovingeffectivenesswithcustomers,suppliersandemployees,UbiquitousReach,InternetImpactDetail,8,PointofView,ImpactOverview,SupplyChainIntegration,RedeploymentofphysicalandhumanresourcestofacilitatedramaticproductivityimprovementsbetterstakeholdercommunicationknowledgesharingandcollaborativeworkenvironmentsleverageofITinvestmentsenhancedaccesstoemployees/outsourcing,ElectronicmanagementofupstreamsupplychainrelationshipsvendorselectionandnegotiationbillingandpaymentinformationexchangeTightlinkageofend-userdemandtoinventory,RMarketcapitalizationsareasof5/6/99;MarketcaptakentobeaproxyforMVAforInternetstocksSource:SternStewartPerformance1,000;YahooFinance!;Companyreports;BainAnalysis,Overthepastthreeyears,asmallgroupofInternetcompanieshavecreatedmorevaluethananyotherindustryachievedin10years.,InternetImpactDetail,25,PointofView,MarketValuation(2of2),Note:InternetcompaniesincludeAOL,Yahoo,EBay,Amazon,E-trade,Lycos,Excite,Home,CNET,Priceline,Geocities,BandInfoseek;Marketcapitalizationsareasof5/6/99;MarketcaptakentobeaproxyforMVAforInternetstocksSource:SternStewartPerformance1,000;YahooFinance!;Companyreports;BainAnalysis,InternetImpactDetail,26,PointofView,Agenda,InternetImpactDetailBusinessImpactDetailResponseAlternativesKeySuccessFactors,27,PointofView,Overview,Allbusinesswillbeimpacted.,ThetimingandmagnitudeoftheoverallimpactwillvarybyindustryTherearesignificantpotentialthreatsaswellasopportunitiesPotentialimpactcanbeunderstoodandproactivelyaddressedProfitpoolshiftsandcommensuratemarketvaluescouldbesignificantlyimpactedUltimately,thecompetitivelandscapecouldbedramaticallydifferentfromtoday,BusinessImpactDetail,28,PointofView,EvolutionFramework,High,Low,Transformation,Phases(Time),MagnitudeOfImpact,Extension,Experimentation,Participation,CRM,SCI,IBM,StakeholderImpacts,High,Med,Low,CustomerRelationshipManagement,SupplyChainIntegration,InternalBusinessMangement,BusinessImpactDetail,29,PointofView,PhaseIParticipation,PhaseIIExperimentation,PhaseIIIExtension,PhaseIVTransformation,EstablishWebPresence,Internet-EnableTraditionalFunctions,LeverageElectronicPlatformToBuildNewCapabilities,IntegratedTransformation,VeryfewcompanieshaveyetdevelopedaplantotakeadvantageofthetransformationalopportunitiestheInternetenables.,E-CommerceTransition,BusinessImpactDetail,30,PointofView,E-CommerceTransition(1of4),BusinessImpactDetail,31,PointofView,CRM,DevelopelectronicorderingcapabilitiesEstablishInternet-basedcustomerserviceaccountinformationbilling/payment,Internet-EnableTraditionalFunctions,IBM,UploadkeyfunctionsontotheInternethumanresourcesadmin,SCI,ExchangepricingdataelectronicallywithsuppliersMakeinventorylevelsvisible,DeploymentExamples,Impact,Industryleaderstakingmarketshare,E-CommerceTransition(2of4),BusinessImpactDetail,32,PointofView,E-CommerceTransition(3of4),BusinessImpactDetail,33,PointofView,E-CommerceTransition(4of4),BusinessImpactDetail,34,PointofView,BusinessChangesImpactFramework,Suppliers,Customers,InternalOperations,InternalBusiness,2,1,3,BusinessDefinition,4,InternalOperations,BusinessImpactDetail,35,PointofView,BusinessChanges;ThreatsandOpportunities(1of2),Threats,Opportunities,2,SupplyChainManagement:,ReintermediationbypowerfulelectronicmiddlemenseizingcustomercontrolLegacysystem/implementationbarriersenablecompetitorstoobtainlowercostposition,End-to-endintegrationofoperationsfromcustomerdemandthroughsupplierproductionfastertimetomarketlowerinventorycostDeepenrelationshipwithstrategicsuppliersand/orincreasesupplierbasebreadthtolowerprocurementcosts,1,CustomerRelationshipManagement:,Significantvolumes/mostvaluablecustomersshiftpurchasestonewInternetcompetitorsCommoditizationpressureasbuyershaveaccesstogreaterinformationandbroadercompetitorset,AbilitytocreateuniquecustomerexperiencethatcannotbereplicatedinphysicalworldNewchanneltocapturegrowthincreasedcustomerbaseproductofferingexpansion,BusinessImpactDetail,36,PointofView,BusinessChanges;ThreatsandOpportunities(2of2),Threats,Opportunities,3,InternalBusinessManagement:,MosttalentedemployeesleavetojoinInternetstart-upsSignificanttechnologyinvestmenthaslowyield,DramaticproductivityimprovementsthroughbettercommunicationandknowledgecaptureanddisseminationOpportunitytooutsourcenon-corefunctions,4,BusinessParticipation:,RedefinitionofbusinessboundariesunderminescompetitivepositionNewagilecompetitorsfundedwithmuchlowercostofcapital,Createspotentialnewbusinessparticipationoptionsthroughleverageofassets/capabilitiesOpportunitytoleapfrog/repositionversustraditionalcompetitors,BusinessImpactDetail,37,PointofView,ImpactAssessmentFramework(CRM),Adetailedevaluationofunderlyingcharacteristicsneedstobeperformedforeachindustry/segment.,LowerpriceBetter(unique)productselectionandinformationImprovedresponsespeed/accessLowertransactionexperiencecostGreatercommunityvalue,GlobalreachexpandsmarketsizeHigh(enough)customermargins/lifetimevalueAbilitytocross-marketwithphysicalworldtoleveragecollectionofuniquecustomerdataLowcustomerservicecostsImproveddistributionandinventorycostsIncreasedassetutilization,DegreeofproductstandardizationEasyonlinesubstitutionforphysicalworld(e.g.,“PhysicalShoppingexperience”notimportantpartofsalesprocess)Productvaluecommensuratewithdistributioncost,AttractiveEconomics,Product/ServiceConducivetoOnlineSale,Unique/SuperiorCustomerValueProposition,StructuralBarriersSurmountable,DistributioninfrastructureProprietaryrelationships(suppliers,funding,affiliates,etc),Regulatory/legal/taxissuesReasonablecost/timingtoconvertlegacysystemsordevelopnewsystems,BusinessImpactDetail,38,PointofView,InternetPenetrationPotential(BusinesstoConsumer),Source:IndustryandTradeOutlook;StatisticalAbstractoftheUnitedStates;SBainAnalysis,ThesecriteriademonstratewhyBooksandPCSoftwarehavehadearlypenetrationinbusinesstoconsumermarkets.,ProductConducivetoInternet,High,Low,Low,High,Medium-Term,Short-term,Medium-Term,Long-term,BusinessImpactDetail,39,PointofView,InternetPenetrationPotential(BusinesstoBusiness),Source:Forrester;BainAnalysis,Computing/ElectronicsandUtilitiesaretheindustriesthataremostlikelytoseesignificantInternetpenetrationinthebusinesstobusinesssector.,High,Low,Low,High,ProductConducivetoInternet,Medium-Term,Short-term,Medium-Term,Long-term,BusinessImpactDetail,40,PointofView,ImpactAssessmentFramework(SCI),Underlyingcharacteristicsshouldbeevaluated,indetail,toassessapplicabilityandpotentialvalueofSupplyChainIntegrationinvariousindustries/segments.,Product/ServiceConducivenesstoOnlineSale,StructuralBarriersSurmountable,AttractiveEconomics,OperationalImprovements,Channelconflict/distributioninfrastructureProprietaryrelationships(suppliers,funding,affiliates,etc.)Regulatory/Legal/TaxissuesCost/TimingtoconvertlegacysystemsordevelopnewsystemsAbilitytocircumventinternalpurchase-approvalprocess,Degreeofstandardization/commoditizationAbilitytodeliverproductelectronically(e.g.Software)Frequencyofpurchase/replenishmentProductvalue/bulkratioNeedforfrequentcatalogupdates,TighterintegrationofoperationreducedcycletimeseliminationofredundantactivitiesincreaseddatasharingOpportunitytoeliminatelayersofmulti-layersupplychainAbilitytoaggregatepurchaseswithotherbuyers,ReducedinventorylevelsLowerpurchasingcostsInternal(laborcosts,materials,etc.)External(increasedpricecompetitiondrivenbyexpandedsupplierbase)Increasedassetutilization,BusinessImpactDetail,41,PointofView,ImpactAssessmentFramework(IBM),Adetailedevaluationofunderlyingcharacteristicsneedstobeperformedforeachindustry/segment.,InternalinfrastructureReasonablecost/timingtoconvertlegacysystemsordevelopnewsystems,Valueofknowledge-sharingcycletimereductionproductcostreductionproductimprovement(design,quality),Highcurrentinternaltransactioncosts(e.g.,purchasingprocess)LongcycletimesAbilitytooutsourcenon-corefunctionsandlinkthemelectronically,HighlevelofcentralizationHighlycollaborativeprocessesDistributedorremotefacilitiesNeedtoshiftresourcesquicklyandfrequently,PotentialStrategicImpactofIntegrationonCoreBusinesses,PotentialforProductivityGains,InternalOrganization/ProcessesConducivetoOn-LineActivity,StucturalBarriersSurmountable,BusinessImpactDetail,42,PointofView,Agenda,InternetImpactDetailBusinessImpactDetailResponseAlternativesKeySuccessFactors,43,PointofView,TypicalCompanyContext,MostCEOsaregrapplingwithhowtorespondtonumerous,disjointeddecisionsrelatedtotheInternet.,Uncoordinatedsetofactivitiesunderwaythroughoutbusinessdifferingstagesofdevelopmentlargerangeofinvestmentsrequired,notprioritizedbasedonimpactLackofconsensusonstrategiccontextwithinwhichtomakecriticalneartermdecisionsUnclearhowtoorganizetowinNumerousalliancesbeingactivelyproposedSeveralsignificantsystemsinvestmentsunderwayunclearROIlackingspecificobjectivesChallengetoattract/retainnecessarytalenttoexecute,ResponseAlternatives,44,PointofView,Roadmap,ResponseAlternatives,CompaniesfaceneartermdecisionsbutlackaframeworkandaclearlydefinedroadmaptocriticallyevaluateoptionsandexecuteanE-Commerceplan.,45,PointofView,SetDirection,E-CommerceObjectives(2),PointofArrival(1),BusinessModel(3),OfferingBreadth,CustomerBreadth,ValueChainParticipation,Depth,Breadth,BusinessObjectives,CurrentPosition,Tosetdirection,acompelling“pointofarrival”visionandunderstandingoftheInternetsimpactshoulddrivethedefinitionofE-Commerceobjectivesandbusinessmodeldeployment,FutureVision,ResponseAlternatives,46,PointofView,AutoManufacturer“PointofArrival”,1,ResponseAlternatives,47,PointofView,E-CommerceObjective,Breadth,StatusQuo,Existing,Expanded,Offering,TargetCustomers,Depth,Existing,New,BreadthandDepth,2,ResponseAlternatives,48,PointofView,CustomerRelationshipManagement(CRM),Migrationalongproduct/customerbreadthandvaluechaindepthcreatenewbusinessmodels.,Core,Adjacent,New,OfferingBreadth,Current,CustomerBreadth,ValueChainParticipation,TransactionAggregator,New,CustomerAggregator,“CategoryKillers”,3,ResponseAlternatives,49,PointofView,CRMBusinessModels(1of3),“CategoryKiller”,Auniqueofferingismostimportantfor“categorykiller”sales,whilescaleiscriticalforaggregators.,KeySuccessFactors:,DifferentiatedofferingExcellentcustomerserviceCompetitivepricingFulfillmentcapabilityFirstmoveradvantage,DellCDNowE-tradeCisco,CompanyExamples:,Description:,Saleofproductsand/orservicesinspecificindustryorcategoryvertical,RevenueSources:,ProductgrossmarginAdvertising,ResponseAlternatives,50,PointofView,CRMBusinessModels(2of3),TransactionAggregator,scaleiscriticalfortransactionaggregators.,ResponseAlternatives,51,PointofView,CRMBusinessModels(3of3),CustomerAggregator,scaleiscriticalforcustomeraggregators.,KeySuccessFactors:,Marketleadingscaletoaccessbest/proprietarycontentRobustcommunitydevelopmenttolureattractivecustomersStrongpartnershipswithdiversecontentdevelopersDifferentiatedcustomerexperience,Yahoo!AOL,CompanyExamples:,Description:,Portalusingproprietary,user-generatedandthirdpartycontenttodrivesitetraffic,RevenueSources:,AdvertisingCommissiononthirdpartysalesSubscriptionfees,ExciteG,ResponseAlternatives,52,PointofView,SupplyChainIntegration(SCI),Virtualcommunities,industryconsortia,andcompanyextranetsarethreeemergingbusinessmodelsforsupplychainintegration.,ResponseAlternatives,53,PointofView,SCIBusinessModels,Scaleiscriticalforvirtualcommunitiesandconsortia,butkeysuppliercooperationismostimportantforextranets.,Significantnumberofactiveparticipants,Sufficientscaletoachievefavorabletermsinpricingandavailability,Purchasescaletosecuresuppliercommitmenttouseextranet,KeySuccessFactors:,Lowercoststructurethantraditionalintermediaries,Smallgroupofcompaniesfocusedondrivingconsortiumeffort,Compatibleinformationsystemsacrosssupplychain,Infrastructuretofacilitatetransactions,Structurethatallowsflexibilityinnegotiationanddecisionmaking,Abilitytocost/timeeffectivelylinkextranettointernallegacysystems,*TPNhasaunitthatcomprisesanindustryconsortiumwithitssuppliers,andaseparateunitthatcreatesVirtualCommunities,Description:,Individualcompanysponsoredgroupcomprisingitsdownstreamsupplychain,Buyerorsellersponsoredgroupsthatcollectivelypurchaseorsellgoodsandservices,Intermediarysponsoredareaswherebuyersandsellerstradegoodsandservices,ImprovementOpportunities:,Excessinventoryliquidation,Reducedprocurementcosts,CycletimereductionLowerinventorycostReducedprocurementcosts,CompanyExamples:,FastPartsMetalSite,ANXTPN*VIPAR,BoeingCisco,CSXDell,PlasticNetVerticalNet,ResponseAlternatives,54,PointofView,InternalBusinessManagementBusinessModels,Internalbusinessmanagementwillseechangesinsystems,organizationalstructureandcommunication.,KeySuccessFactors:,Connectlegacysystemsatareasonablecost/timingDesignflexibleplatformtoaccommodatechangingneedsoftheorganizationDevelopsystemsbasedonbusinessneed(vs.ITproject),EnsureconsistencywithstrategicvisionInvestinnewcapabilitydevelopmentStructureorganizationtoprovideaccesstocapital(e.g.,IPOpotential,e.g.,acquisitioncurrency)AlignincentiveswithmilestoneachievementsCreatemeasurementsystemtotrackresults,OrganizationalStructure,Systems,Communication,PrimaryFocus:,Integrationofindependentsystemstoachievetrueinteroperability,RealignmentoforganizationtotransitiontoanInternet-enabledmodel,Restructuremanagerial,operationalandhumanresourcesprocesstomaximizeinformationandknowledgeflow,LinkIntranettoolstoholisticstrategyDeveloprobusttechnicalplatformDesignincentivestofosterusageofcommunicationstoolsEncourageexperimentationinthenewmedium,ResponseAlternatives,55,PointofView,Roadmap,DefineandtracksuccessmeasuresIdentifyandmonitormajortriggersAdjustapproach,definenewexperiments/initiatives,Evaluatetimingandmagnitudeofthreats/opportunitiesinindustrieswhereyou(will)competeGathercompetitiveintelligenceonnewbreedandtraditionalplayersArticulatecompelling“pointofarrival”visionBuildconsensusonshortandlongtermE-CommerceobjectivesDefinebusinessmodelparticipation,Launchexperimentsandinitiatives(linkedtoobjectives)Defineandputinplaceorganizationstructure,staffingandsystemsCommitinvestmentfundsDeveloprequiredpartnerships/networkDefineandimplementITinfrastructure,Track,MonitorandLearn,ActandCommit,Internalvs.External,SetDirection,ResponseAlternatives,56,PointofView,ActandCommit,Eachelementrequiresmakingaseriesofinterdependenttradeoffs.,Integrationwithcorebusiness,Issue,RangeofAlternatives,Fullyintegratedandcentralized,Completelyseparate,Ownership/organizationalstructure,Integratedwithinexistingstructure,JointVenture,Levelandsourceoffunding,Majorbetwithexternalfunding,TightlycontrolledsmallbetsusingcorporateIRRhurdle,Partnerships,Go-it-alone,Join/formindustryconsortium,Capabilities/Infrastructure,Developin-housewithlegacysystems,Formpartnership,100%,20%,PercentOwnership,ResponseAlternatives,57,PointofView,IntegrationWithCoreBusiness,InitiallySeparate;IntegratedOverTime,FullyIntegratedandCentralized,FullyIntegratedandDecentralized,CompletelySeparate,Description:,Advantages:,Dis-advantages:,Pursueastand-alonee-commercestrategy,Protectscorebusinessfrome-commerceexecutionriskIncreasesflexibilityinearlyyears(recruitmentoftalent,creativefinancing),Significantlylimitsfullstrategicimpactpotential,Controlandcoordinateintegrationofe-commerces