麦肯锡战略咨询手册－1(PPT).ppt

CONFIDENTIAL BUStrategicPlanTemplateBook Trainingmaterials8June2001 Thisreportissolelyfortheuseofclientpersonnel Nopartofitmaybecirculated quoted orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinseyitisnotacompleterecordofthediscussion JimAyala PHOMelissaGil PHOReginaManzano PHOSureshMustapha PHOSteveShaw HKOShellyYeh PHOChoon GinTan SIO 1 STRATEGYPLANNINGINSTRUCTIONS TheobjectiveofthesetemplatesistoprovidecompletenessandconsistencyofBUstrategicplansubmissions ThesetemplatesarenotintendedtoreplaceorconstrainBUstrategicthinkingandshouldbeadaptedtoreflectaparticularBU ssectoralcontextasrequiredEachsectionbeginswithasummarythatisbasedonasynthesisofquestionsandanalysesthatfollow Thesuggestedapproachwouldbetofirstcompletetherelevantback upanalysesandthenworktowardstheoverallsynthesis 2 TABLEOFCONTENTS I ExecutivesummaryII EnvironmentalandinternalassessmentA IndustrydynamicsanditsimplicationsB CompetitiveassessmentC InternalassessmentIII StrategicdefinitionandimplicationsA StrategyarticulationB StrategicinitiativesC FinancialprojectionD Risks contingenciesandstrategicalternativesIV Exhibits 3 BUSTRATEGICPLANDEVELOPMENT Industrydynamicsandimplications Environmentalandinternalassessment Competitiveassessment Internalassessment Whatarethemajorchangesinindustrydynamicsandresultingopportunitiesandrisks Whatareyourcompetitivestrengthsandweaknesses Howdoesyourcurrentbusinessemphasisfitwithindustryopportunityandcompetitivelandscape Strategyarticulation Strategicdefinitionandimplications Strategicinitiatives Financialprojections WhatstrategywillyourBUpursueoverthenext3years Whatwillbetheimpactofmajorstrategicinitiatives Whataretheexpectedfinancialreturnsofyourstrategy Risk contingen cies strategicalternatives Whatstrategicalternativeshaveyouconsidered 4 I EXECUTIVESUMMARY Instructions TheExecutiveSummaryprovidesasynthesisoftheEnvironmentalandInternalAssessmentsandtheresultantBUStrategicPlans 5 II ENVIRONMENTALANDINTERNALASSESSMENT 6 IIA INDUSTRYDYNAMICSANDIMPLICATIONS SUMMARY A Whatarethemajorchangesinindustrydynamicsandtheresultingopportunitiesandrisks A 2Howisindustrystructurechanging demand supply andindustrychaineconomics Whataretheresultingopportunitiesandrisks A 3Whatistheexpectedcompetitorconduct Whataretheresultingopportunitiesandrisks A 4Whatarethepresentandfutureexternalfactorsthatcouldpresentnewopportunitiesandrisks A 1Whatindustryareyoucompetingin Whatarethevarioussegmentsintheindustry Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 7 IIA INDUSTRYDYNAMICSANDIMPLICATIONS BACK UP1 A 1Whatindustryareyoucompetingin Whatarethevarioussegmentsintheindustry IndustrydefinitionIndustrysegmentationDefinitionSizing Instructions Exhibit1couldprovideausefulframeworkforansweringthisquestion Industrydefinition Industrysegmentation 8 IIA INDUSTRYDYNAMICSANDIMPLICATIONS BACK UP2 A 2Howisindustrystructurechangingwithrespecttodemand supply andindustrychaineconomics Whataretheresultingopportunitiesandrisks EconomicsofdemandBysegmentSubstitutes abilitytodifferentiateVolatility cyclicalityEconomicsofsupplyProducerconcentrationanddiversityImportcompetitionCapacityutilizationEntry exitbarriersCoststructure fixedandvariable IndustrychaineconomicsCustomerandsupplierbargainingpower Instructions Exhibit2 3or4couldprovideausefulframeworkforansweringthisquestion 9 IIA INDUSTRYDYNAMICSANDIMPLICATIONS BACK UP3 A 3Whatistheexpectedcompetitorconduct Whataretheresultingopportunitiesandrisks MajorindustrycompetitormovesMarketinginitiativesIndustrycapacitychangesM As divestituresVerticalintegration disaggregationAlliancesandpartnershipsCostcontrolandefficiencyimprovements Instructions Exhibit2 3or4couldprovideausefulframeworkforansweringthisquestion 10 IIA INDUSTRYDYNAMICSANDIMPLICATIONS BACK UP4 A 4Whatarethepresentandfutureexternalfactorsthatcouldpresentnewopportunitiesandrisks ImpactandlikelihoodofmajorindustrydiscontinuitiesChangesinregulation governmentpolicyTechnologicalbreakthroughs Instructions Exhibit2 3or4couldprovideausefulframeworkforansweringthisquestion 11 IIB COMPETITIVEASSESSMENT SUMMARY B Whatareyourcompetitivestrengthsandweaknesses B 1Whatarethecapabilitiesrequiredtosucceedinthisindustry B 2Howdoyoucompareagainstthesenecessarycapabilities Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 12 IIB COMPETITIVEASSESSMENT BACK UP1 B 1Whatarethecapabilitiesrequiredtosucceedinthisindustry Privilegedassetsthatcreatecompetitiveadvantage e g physicalassets location space distribution salesnetwork intangibleassets intellectualcapital network brands talents Distinctiveskills competenciesthatcreatecompetitiveadvantage e g innovation talentdevelopment Instructions Exhibit5couldprovideausefulframeworkforansweringthisquestion 13 IIB COMPETITIVEASSESSMENT BACK UP2 B 2Howdoyoucompareagainstthesenecessarycapabilities Strengthsandweaknessesofyourcompetitivepositionvs necessarycapabilitiesBenchmarkperformanceagainsttheindustry srelevantkeyperformanceindicators KPIs withmarginandmarketshareastherequiredminimum Strengthsandweaknessesofyourcompetitivepositionvs necessarycapabilities Benchmarkperformanceagainsttherelevantindustry sKPIs Instructions Exhibits6and7couldprovideausefulframeworkforansweringthisquestion Instructions Exhibit8couldprovideausefulframeworkforansweringthisquestion KPIsareahandfulofleversthatdrivethevalueoftheindustry business 14 IIC INTERNALASSESSMENT SUMMARY C Howdoesyourcurrentbusinessemphasisfitwiththeindustryopportunitiesandthecompetitivelandscape C 1Whichsegmentsofthebusinessareprovidingthehighestreturns C 2WhathavebeentheperformancetrendsalongmajorBUKPIs C 3Whichintangibleassets couldbenear termpotentialsourcesofvalue Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings PleaserefertoExhibit12forfurtherdescription 15 IIC INTERNALASSESSMENT BACK UP1 C 1Whichsegmentsofthebusinessareprovidingthehighestreturns RelevantBUsegments basedoncustomer product geography channel Operatingcontributionestimatesforeachsegment Instructions Exhibit9couldprovideausefulframeworkforansweringthisquestion Basedonlatestavailable 1 2yearhistoricalfinancialstatements 16 IIC INTERNALASSESSMENT BACK UP2 C 2WhathavebeenperformancetrendsalongmajorBUKPIs KPIperformancetrendsoverthelast3 5years e g returnoncapitalemployed ROCE operatingincome margins capitalemployedAssessmentofunderlyingtrenddriversExpectedevolution Instructions Exhibits10and11couldprovideausefulframeworkforansweringthisquestion ROCE Operatingincomex 1 taxrate Allinterestbearingdebt shortandlong minorityinterest stockholders equity 17 IIC INTERNALASSESSMENT BACK UP3 C 3Whichintangibleassetscouldbenear termpotentialsourcesofvalue Identificationofin houseintellectualproperty talent networks brand imageConversionintosourcesofvalue Instructions Exhibit12couldprovideausefulframeworkforansweringthisquestion 18 III STRATEGICDEFINITIONANDIMPLICATIONS 19 IIIA STRATEGYARTICULATION SUMMARY A WhatstrategywillyourBUpursueoverthenext3years A 1Wheretocompete A 2Whatisyourcustomervaluepropositionforthedifferentsegmentsyouaregoingtoserve A 3Whatisyourbusinessmodel Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings A 4Howdoesyourchosenstrategyexploitindustryopportunitiesandaddressindustry competitivethreats Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 20 IIIA STRATEGYARTICULATION BACK UP1 A 1Wheretocompete Whereareyougoingtocompetealongthesedimensionsandwhy TargetmarketDistributionchannelsProduct breadthanddepth Geographicscope Instructions Exhibit13couldprovideausefulframeworkforansweringthisquestion 21 IIIA STRATEGYARTICULATION BACK UP2 A 2Whatisyourcustomervaluepropositionforthedifferentsegmentsyouaregoingtoserve TargetcustomerdefinitionBenefitsthatyouwillofferthecustomersProductpricingPositionagainstcompetitionvis visthebenefitsprovidedandthepricecharged Whoisyourtargetcustomer Whataretheexplicitbenefitsyouprovidetoyourcustomers Whatperceivedvaluedoyouprovidetothecustomerbetterthancompetition Howmuchvaluedoyourcustomersattachtothebenefitsyouprovide 22 IIIA STRATEGYARTICULATION BACK UP3 A 3Whatisyourbusinessmodel Deliveryandcommunicationofcustomervalueproposition valuedeliverysystem Competitiveadvantageindeliveringthesebenefitstothecustomer Howwillthevaluepropositionbeprovidedandcommunicated WhichofyourBU sexistingstrengthscanbeleveraged Whatskills capabilitiesdoyouneedtobuild Instructions Exhibit15couldprovideausefulframeworkforansweringthisquestion 23 IIIA STRATEGYARTICULATION BACK UP4 A 4Howdoesyourchosenstrategyexploittheindustryopportunitiesandaddresstheindustry competitivethreats IndustryattractivenessandimplicationreviewAlignmentofstrategyandenvironmentalrealities 24 IIIB STRATEGICINITIATIVES SUMMARY B Whatwillbetheimpactofmajorstrategicinitiatives B3 Howmuchvaluewillbecreatedfromeachstrategicinitiative B4 Whatresourceswilleachstrategicinitiativerequire Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings B1 Whatmajorstrategicinitiativesarerequiredtosuccessfullyimplementyourselectedbusinessmodel B2 Whatarethesourcesofvaluecreatedfromeachstrategicinitiative Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 25 IIIB STRATEGICINITIATIVES BACK UP1 B 1Whatmajorstrategicinitiativesarerequiredtosuccessfullyimple mentyourselectedbusinessmodel Possiblestrategicinitiativeslist 26 IIIB STRATEGICINITIATIVES BACK UP2 B 2Whatarethesourcesofvaluecreatedfromeachstrategicinitiative Sourcesofvaluefromeachstrategicinitiative e g EBIT capitalemployed Categoryofinitiatives Volumeincrease EBITimpactvia Priceincrease Costreduction Other Invest ment Capitalemployedimpactvia Divest ment Capitalefficiency Other E g improvedworkingcapitalemployment increasedassetutilization changestoassetownership Specificactionableinitiatives 27 IIIB STRATEGICINITIATIVES BACK UP3 B 3Howmuchvaluewillbecreatedfromeachstrategicinitiative one timeEBITimpact one timecosts FinancialimpactfromeachstrategicinitiativeExpectedfinancialoutlayforeachinitiative 28 IIIB STRATEGICINITIATIVES BACK UP4 B 4Whatresourceswilleachstrategicinitiativerequire ResourcesrequiredtomakestrategyworkAvailabilityofresourcesintheorganizationPlanforfillingresourcegaps Categoriesofinitiatives Specificactionableinitiatives People skills Resourcerequirements Funding Ex Cominvolvement 29 IIIC FINANCIALPROJECTIONS SUMMARY C Whataretheexpectedfinancialreturnsofyourstrategy C 3Whatisyourexpectedcashgenerationabilityoverthemediumterm C 4Whatisyourexpectedcapitalproductivity C 2Whatisyourprojectednetincomeinthenextfewyears C 1Whatarethekeyassumptions Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 30 IIIC FINANCIALPROJECTIONS BACK UP1 C 1Whatarethekeyassumptions Profitandloss e g revenues costs margin BalancesheetCorporatecenterdirectivesCorporatecenterassumptions Instructions Thesearetheminimumrequiredassumptions FeelfreetoaddotherassumptionsrelevanttoyourBU 31 IIIC FINANCIALPROJECTIONS BACK UP2 C 2Whatisyourprojectednetincomeinthenextfewyears Incomestatementforecast Instructions Thesearetheminimumrequiredincomestatementaccountsandanalyses FeelfreetoaddotheraccountsandanalysesrelevanttoyourBU 32 IIIC FINANCIALPROJECTIONS BACK UP3 C 3Whatisyourexpectedcashgenerationabilityoverthemediumterm Cashflowforecast Instructions Thesearetheminimumrequiredcashflowstatementaccounts FeelfreetoaddotheraccountsrelevanttoyourBU 33 IIIC FINANCIALPROJECTIONS BACK UP4 C 4Whatisyourexpectedcapitalproductivity BalancesheetforecastROCEcomputation ROCE Operatingincomex 1 taxrate Allinterestbearingdebt shortandlong minorityinterest stockholders equity Instructions Thesearetheminimumrequiredbalancesheetaccountsandanalyses FeelfreetoaddotheraccountsandanalysesrelevanttoyourBU 34 IIID RISKS CONTINGENCIES STRATEGICALTERNATIVES SUMMARY D Whatstrategicalternativeshaveyouconsidered D 1Whataretheassociatedriskstoyourchosenstrategy D 2Re examiningindustryopportunitiesandindustry competitivethreats whatalternativesexisttoyourchosenstrategy Instructions Theanswertothisoverarchingquestionrequiresarecapitulationofthesection smainfindings D 3Beyondthe3 yeartimeframe whatbreakthroughstrategicoptionsmaybepossible Instructions Thesesubsectionscontaina1 2sentencesummaryoftherelevantfindings 35 IIID RISKS CONTINGENCIES STRATEGICALTERNATIVES BACK UP1 D 1Whataretheassociatedriskstoyourchosenstrategy IdentificationofsignificantpotentialrisksandplanstomitigateSensitivity scenariofinancialanalysis Potentialrisks Businessrisk Regulatoryrisk Technologyrisk Integrityrisk Macroeconomicrisk Impact Likelihood Contingency Other 36 IIID RISKS CONTINGENCIES STRATEGICALTERNATIVES BACK UP2 D 2Re examiningindustryopportunitiesandindustry competitivethreats whatalternativesexisttoyourchosenstrategy Wheretocompete ValuepropositionBusinessmodelAlignmentwithexternalrealities Wheretocompete Alternativevalueproposition Alternativebusinessmodel Alignmentwithexternalrealities 37 IIID RISKS CONTINGENCIES STRATEGICALTERNATIVES BACK UP3 D 3Beyondthe3 yeartimeframe whatbreakthroughstrategicoptionsmaybepossible Out of the box ideas Instructions Thinkradical Thinkout of the box 38 IV EXHIBITS 39 SEGMENTANALYSIS Exhibit1 ILLUSTRATIVE Industryboundaries Segments Industrysegments Relativelydistinctsub groupingswithintheindustryMarketisrelativelysimilarwithinthesegmentbutdifferentacrosssegmentsDifferentindustrydynamicsmayvaryinimportanceindifferentsegments 40 Producers Industry S TechnologybreakthroughsChangesingovernmentpolicy regulationsDomesticInternational EconomicsofdemandAvailabilityofsubstitutesDifferentiabilityofproductsRateofgrowthVolatility cyclicalityEconomicsofsupplyConcentrationofproducersImportcompetitionDiversityofproducersFixed variablecoststructureCapacityutilizationEntry exitbarriersIndustrychaineconomicsBargainingpowerofinputsuppliersBargainingpowerofcustomers MarketingPricingVolumeAdvertising promotionNewproducts R DDistributionCapacitychangeExpansion contractionEntry exitAcquisition merger divestitureVerticalintegrationForward backwardintegrationVerticaljointventuresLong termcontractsInternalefficiencyCostcontrolLogisticsProcessR DOrganizationeffectiveness FinanceProfitabilityValuecreationTechnologicalprogressEmploymentobjectives Externalshocks Feedback tructure C onduct P erformance STRUCTURE CONDUCT PERFORMANCE SCP MODEL Exhibit2 41 Exhibit3 1 DeterminantsofsupplierpowerDifferentiationofinputsSwitchingcostsofsuppliersandfirmsintheindustryPresenceofsubstituteinputsSupplierconcentrationImportanceofvolumetosupplierCostrelativetototalpurchasesintheindustryImpactofinputsoncostordifferentiationThreatofforwardintegrationrelativetothreatofbackwardintegrationbyfirmsintheindustry 2 DeterminantsofbarrierstoentryEconomiesofscaleProprietaryproductdifferencesBrandidentitySwitchingcostsCapitalrequirementsAccesstodistributionAbsolutecostadvantagesProprietarylearningcurveAccesstonecessaryinputsProprietary low costproductdesignGovernmentpolicyExpectedretaliation 5 RivalrydeterminantsIndustrygrowthFixed orstorage cost valueaddedIntermittentovercapacityProductdifferencesBrandidentitySwitchingcostsConcentrationandbalanceInformationalcomplexityDiversityofcompetitorsCorporatestakesExitbarriers 3 DeterminantsofbuyingpowerBargainingleverageBuyerconcentrationvs firmconcentrationBuyervolumeBuyerswitchingcostsrelativetofirmswitchingcostsBuyerinformationAbilitytobackwardintegrateSubstituteproductsPull through 4 DeterminantsofsubstitutionthreatRelativepriceperformanceofsubstitutesSwitchingcostsBuyerpropensitytosubstitute 2 Newentrants 3 Buyers 4 Substitutes Intensityofrivalry 1 Suppliers PricesensitivityPrice totalpurchasesProductdifferencesBrandIdentityImpactonqualityperceptionBuyerprofitsDecisionmakers incentives 5 Industrycompetitors FORCESATWORK FRAMEWORK 42 Opportunities ThreatsHowaredemandandsupplyexpectedtoevolve Howdoyouexpecttheindustrychaineconomicstoevolve Whatarethepotentialmajorindustrydiscontinuities Whatcompetitoractionsdoyouexpect YOURBU SWOTANALYSIS Exhibit4 CONVERTOPPORTUNITIES BUILDONSTRENGTHS NEUTRALIZETHREATS ADDRESSWEAK NESSES Strengths WeaknessesWhatareyourBU sassets competenciesthatsolidifyyourcompetitiveposition WhatareyourBU sassets competenciesthatweakenyourcompetitiveposition Canbeusedasathoughtstarterforcompetitiveanalysisandinternalassessment 43 PhysicalassetLocation space Distribution salesnetworkBrand reputationPatentRelationshipwith license allocator BHP slow costminesTelecomm mediacompanywithrightsradiospectrumAvon srepresentativesCoca ColaPharmaceuticalcompanywitha wonderdrug Favorednation statuswithakeyministerinliberalizingeconomy InnovationCross functionalcoordinationMarketpositioningCost efficiencymanagementTalentdevelopment 3MwithnewproductsMcDonald swithQSC VJ JwithbrandedconsumerhealthproductsEmersonElectric sBestCostProducerprogramP Gbrandmanagementprogram Privilegedassets Distinctivecompetencies Necessarycapabilitiesinordertosucceedintheindustry Example CAPABILITYPLATFORM ASSESSMENTOFSOURCESOFCOMPETITIVEADVANTAGE 1 2 Exhibit5 44 CAPABILITYPLATFORM ASSESSMENTOFSOURCESOFCOMPETITIVEADVANTAGE 2 2 ILLUSTRATIVE Step1 Ensurethatthesearethecapabilitiesrequiredtosucceedintheindustry Usethislistasathoughtstarter addanddeleteasyouseeappropriate BUOverall Segments A B C Step2 Assessyouroverallpositionrelativetothecapabilitiesrequiredtosucceedintheindustry Also determineifthesecapabilitiesarerelevanttothesegmentsyouserve PhysicalassetLocation space Distribution salesnetworkBrand reputationPatentRelationshipwith license allocator InnovationCross functionalcoordinationMarketpositioningCost efficiencymanagementT