McKinsey-能源行业分析

txho/11022ho0402color.ppt,ACCELERATINGINNOVATIONINENERGY,EnergyisKey.Now,October22,2001,Thisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinseyitisnotacompleterecordofthediscussion.,txho/11022ho0402color.ppt,1,TODAYSDISCUSSION,Capitalmarkets:ruthlessdriverofinnovationCreativedestructionintheEnergyIndustryWhatcanHoustondotoleadinnovationinEnergy?,txho/11022ho0402color.ppt,2,LONG-TERMSURVIVALISDIFFICULT,ANDGETTINGMORESO,Note:NumberofexitsaveragedovertwentyyearperiodSource:McKinseyanalysis,1935,1955,1975,1995,2005E,TheSMcKinseycorporateperformancedatabase,Yearsinsample,TRSrelativetoindustryaverage,1,5,10,15,20,-10%,-5%,0%,5%,10%,15%,25,Survivorscurse,Totalreturntoshareholdersrelativetoindustryof“newentrants”intotop80%bymarketcap*,Attackersadvantage,.becomes,txho/11022ho0402color.ppt,9,SURVIVORSUNDERPERFORMBECAUSETHEYFAILTOCREATE,INNOVATE,ANDEXITQUICKLYENOUGH,ThesurvivorsmentalmodelfocusesonprotectingthecorebusinessSurvivorsareparalyzedbyfearofProductcannibalizationCustomerconflictDilutiveacquisition,Survivorssufferfromculturallock-in,Sales,Time,Vision,ideas,passion,Inabilitytoinnovate,Focusonoperations,Denial,Rationality,Creationandinnovation,txho/11022ho0402color.ppt,10,StockpriceCAGR44%(vs.Sanalystreports;pressreleases,Businessseparation,txho/11022ho0402color.ppt,17,THEREINVENTIONOFBP,Portfoliopruning,Businessmodelinnovation,Attackingthroughconsolidation,1985-92DivestednoncorelinesofbusinessNutrition(BPNutrition)ComputingServices(Scicon)Coal(BPCoal)Minerals(SelectionTrust)AcquiredstrategiccoreassetsSohioBritoil,1992-98Performance-drivenbusinessunitsPeergroup/collaborativeperformancemanagementOutsourcednoncorefunctions(accounting,IT),1998AmocoARCOVastarBurmaCastrolVeba,txho/11022ho0402color.ppt,18,INNOVATIONINTHEOILINDUSTRY,HalliburtonAnadarkoSchlumbergerCoreLabs,Company,txho/11022ho0402color.ppt,19,TODAYSDISCUSSION,Capitalmarkets:ruthlessdriverofinnovationCreativedestructionintheEnergyIndustryWhatcanHoustondotoleadinnovationinEnergy?,txho/11022ho0402color.ppt,20,CANHOUSTONBUILDANINNOVATIONNETWORK?,Thevalueofthenetworkisclear:IncreasedcrosspollinationofideasSpecializedtalentflowBetterflowofsmartcapitalChallenging,butsupportiveenvironment,Increaseandgrowthinsoftwarecompanies,Challengingcompetitionamongpeers,Supportinginfrastructure,Demanding,participativecustomers,Talented,entrepreneurialemployees,ElementsofSiliconValleysself-reinforcingnetwork,txho/11022ho0402color.ppt,21,WHATROLECANLEADERSTAKETOINCREASEFOCUSONHOUSTON?,Publicenergypolicy,Governmentfunding,Talent,Newcompanies,txho/11022ho0402color.ppt,22,WHATAVENUESCANL