普华永道战略框架参考手册

Strategy Frameworks Manual,Second Edition,15 September 2004,TRANSACTION SERVICES,Draft Report,Table of Contents,Section,Page,1,Introduction and Structure,1,2,The Analytical Process,4,2.1 - Ansoff Matrix,6,10,2.3 - BCG Matrix,16,2.4 - Competitor Cost Structures,23,2.5 - Consumer Segmentation Attitudinal or Behavioural Segmentation,29,2.6 - Core Competencies,33,2.7 - Critical Mass Industries,37,2.8 - Disruptive Technologies,44,2.9 - Distribution Strategy,49,2.10 - Drivers of Value/Profit Tree,67,2.11 - Industry Lifecycle,73,2.12 - Parenting Advantage,77,21.3 - Porters Five Forces and Generic Strategies,82,2.14 - Pricing Strategies,88,2.15 - Profit Pools,96,2.16 - RONA Charts,100,2.17 - ROS/RMS Matrix,107,2.18 - S-Curves and Market Penetration,113,2.19 - Sector Charts,118,2.20 - Strategic Positioning Assessment (McKinsey/GE Matrix),123,2.2 Balanced Scorecard,Table of Contents,Section,Page,2.21 - Value Chains,129,2.22 - Value Curves,136,3,The Project Process,141,3.1 - Market Definition Dartboard,143,3.2 - Retail Store Turnaround Strategy,147,4,Other Useful Tools,151,4.1 - Least Squares CAGR,152,Section 1,Introduction and Structure,1,Purpose of the Manual,2,Section 1 - Introduction and Structure,To assist you as Strategy Group practitioners in your work on strategy projects by:Providing an overview of potentially useful strategic frameworksDescribing when and where these might be usedExplaining how to use themGiving examples of projects/cases where they have been successfully used in the pastSuggesting people and sources that can help you furtherThis second edition of the manual describes 24 frameworks in detailThe frameworks covered will be expanded over time as the manual develops,Structure of the Manual,3,Section 1 - Introduction and Structure,This manual is structured to guide you through the strategy making process in a flexible way:Section 2: Analytical Process sets out a number of frameworks which can potentially be used to assist you in your strategic analysis and design. This section includes frameworks for use in the development of:Business Unit Strategy where the process is divided into four key areas:Analysis/DiagnosisCreating ValueCapturing ValueSustaining ValueCorporate StrategyFunctional StrategySection 3: Project Process sets out a number of frameworks which can potentially be used to help you manage each stage of the strategy process. This section splits the project process into four key stages:Hypothesis GenerationOption GenerationOption SelectionImplementationSection 4: Other Useful Tools will in time grow to include other helpful information and tools to assist you on strategy projects/DDs. At this stage, we have included a section on Least Squares CAGRs,Section 2,The Analytical Process,4,The Analytical Process: Where Does Each Framework Fit?Note: Frameworks underlined are fully developed in this second edition of the manual,5,Section 2 - The Analytical Process,BUSINESS UNIT STRATEGY,CORPORATE STRATEGYBCG MatrixCash Use/Cash Generation MatrixMarakon Profitability MatrixParenting AdvantageStrategic Position Assessment,ANALYSIS/ DIAGNOSIS,CREATING VALUE,CAPTURING VALUE,SUSTAINING VALUE,CUSTOMERSConsumer SegmentationCustomer Service Management,COMPETITORSPricing UmbrellasRONA ChartsROS/RMSSector ChartsSpider ChartsCompetitor Cost Structures,INDUSTRY/ ENVIRONMENTCritical Mass IndustriesDisruptive TechnologiesIndustry LifecyclesPESTPorters Five Forces and Generic StrategiesProduct LifecyclesProfit PoolsS-Curves and Market Penetration,COMPANYCore CompetencesDrivers of ValueSWOTValue Chain,Customer LoyaltyBalanced Scorecard,Pricing,Ansoff MatrixBusiness ModelsCustomer Service ManagementDrivers of Value,Porters Five Forces and Generic StrategiesStrategy DynamicsValue Curves,FUNCTIONAL STRATEGYDistribution StrategySales Strategy,Section 2.1,Ansoff Matrix,6,Ansoff Matrix: What is it?,MarketPenetration,ProductDevelopment,MarketDevelopment,Diversification,PRESENTPRODUCTS,NEWPRODUCTS,PRESENTMARKETS,NEWMARKETS,1,2,3,4,A tool that helps to evaluate the possible strategic growth directions for a businessIn summary, there are four basic choices to drive growth:Grow existing products in existing marketsIntroduce new products into existing marketsEnter new markets with existing productsDevelop new products and introduce these into new markets,Section 2.1 - Ansoff Matrix,7,Note: New = new for the business (and not new for the consumer or competition),Ansoff Matrix: How to use it,Section 2.1 - Ansoff Matrix,This is very much a qualitative tool that helps one to think about potential growth options for a businessAlways start by defining the existing business and placing it in the top left hand cornerDefine what each idea/option (1,2,3,4) means in practical terms for the clientAssess the feasibility/risk associated with pursuing each optionGood start (and lowest risk) for most businesses - leverages existing competencies and resources. Might be difficult due to saturation, regulation or costs. Consolidation is a useful strategy if the product is in later stages of the life cycle2/3. Whether markets or products should be developed will depend on competencies of the business, i.e. R&D versus marketing. Capital intensive industries tend to develop markets to increase the sale of already developed products. This option is appropriate where a companies core competencies are related more to products than to specific market segments. Developing markets may be difficult in markets with high barriers to entry (e.g. dealer networks) or with low demand. In such situations firms might focus on product development. Product development is more appropriate for firms that are stronger in customer relationships than in a specific product. These firms can leverage their strength to tailor new products to their existing customer baseDiversification is the highest risk strategy and is best suited for businesses with flexible cultures that are willing to learn. There are two main kinds of diversification:,Leave traditional market and products but remain in your sector: e.g. vertical integration (supermarket owns a food manufacturer) or horizontal integration (supermarket sells financial products)Leave sector: e.g. building of a conglomerateCommon UsesGenerate ideas for future growth Assess achievability of different growth strategiesDecide which growth options a client should pursue,8,1,2,3,4,Current Business,Examples: Littlewoods Remote Retailing,Ansoff Matrix: PwC Expertise/Other References,Section 2.1 - Ansoff Matrix,Used to present options for growth to the clientClient liked the presentation of the options. However, shortly afterwards the business was acquired by the Barclay brothers Our experts:Chris TempleOliver RowsonJohn Boxall,Additional References:Harvard Business Review on Strategies for GrowthImplanting Strategic Management by Igor Ansoff,9,Section 3,Balanced Scorecard,10,The Balanced Scorecard What is it ?,11,Section 3 - Balanced Scorecard,Traditionally organisations have relied on financial measures to assess performance. Whilst these measures provide a good view of past performance, they tell us little about the future direction of a company,KEY POINTSSenior Managers should be involved in debating and drafting the goals and performance measures for each of the different perspectivesIt is better to have only a few well thought out goals and measures within each of the perspectives rather than a raft of metricsThe goals and measures should be integrated and reflect the strategy and vision of the organisation, rather than simply focusing on trying to control the actions of employees,The Balanced Scorecard complements this historical financial perspective by also looking at other aspects of the business (as shown) that are the key drivers of future financial performance,The Balanced Scorecard Defines a strategys cause and effect relationships,12,Section 3 - Balanced Scorecard,Indicates whether a companys strategy, implementationand execution are contributing to bottom line performance improvement,Measures how a company is viewed by its customers, to provideinsights regarding its ability to continue gaining, retaining and extractingvalue from them,Manages and monitors the key functions that ultimately affect the Customer perspective of theCompany (e.g. delivery lead times),Focuses on the companys ability to continue to identify & improve key processes and therefore continue to deliver value to customers,The Balanced Scorecard How to Use It,13,Section 3 - Balanced Scorecard,Some commonly used goals and measures are as follows:Customer PerspectiveLead Times e.g. to process and deliver ordersQuality of service or deliveries - e.g. defect ratesPerformance & Service - how the company helps to create value for its customers e.g. degree of joint workingCost do customers see the company as high or low cost compared to the value they add?By asking customers to i) define acceptable performance and ii) clarify what they consider to be the most important measures of performance, satisfaction can often be improved by simply shifting resources from areas in which the company is over delivering to those in which it is under deliveringInternal Business PerspectiveInclude goals and initiatives for those internal processes that will have the greatest impact on achieving/improving the goals and measures set out within the Customer Perspective. For example:Tighten Quality Control e.g. reduce defect ratesImprove Productivity e.g. reduce costs to improve profitability or enable prices cuts,Learning and Innovation PerspectiveCould include goals for:Sales generated from new products, or Participation in knowledge sharing initiatives Management should also consider what measures can be included that will help the company to continue to meet the goals set out within the Internal Business Perspective. For example, initiatives and goals to train the workforce in:Total Quality Management conceptsNew manufacturing techniquesFinancial PerspectiveTypical measurements would include improvements in:Profitability, GrowthShareholder valueThe financial perspective gives management an indication of whether its focus is correct. A failure to improve financial performance in spite of success in meeting the goals set out in the other three perspectives serves as a warning that either the strategy is wrong or that a crucial area of importance has been overlooked,The Balanced Scorecard of a Semi-Conductor Company,14,Section 3 - Balanced Scorecard,Customer Perspective,Goals,Measures,New productsResponsivesupplyPreferred supplierPartnership,% sales from new products% from proprietary productsOn time deliveryShare of key accountstotal purchasesNo. of cooperation efforts,Learning & Innovation Perspective,Goals,Measures,TechnologyleadershipProductionlearningProductfocusTime to market,Time to develop nextgenerationProcess time to maturity% of products that accountfor 80% of salesNew product intros vs thecompetition,Each of the goals and measures was underpinned by specific initiatives to help deliver them. The reward structure of the company was also reworked to incentivise employees towards achieving the goals,The three levels of financial measuresallowed the company to assess whether thecurrent “direction of travel” was consistentwith long term value creation,By understanding each key customersdefinitions of on time delivery the company could divert resources awayfrom were it was exceeding expectations to better serve its more demanding customers,Having identified these goals it was realisedthat the current information systems didnt produce the data needed to manage key internal processes efficiently,Goals chosen to ensure continued focuson key areas of increasing efficiency and developing new products,The Balanced Scorecard When to use it,15,Section 3 - Balanced Scorecard,When to Use ItWe are unlikely to implement a Balanced Scorecard for a client. It is more important that we understand enough of the concept to allow us to critique one, either during a Commercial Due Diligence or a strategy review for a Corporate client,Other References“The Balanced Scorecars Measures that Drive Performance” Robert Kaplan and David Norton, HBR February 1992“The Balanced Scorecard: Translating Strategy into Action” Robert Kaplan and David Norton,Section 3.1,BCG Matrix,16,The BCG Matrix: What is it?,Section 3.1 - BCG Matrix,17,High,High,Low,Low,Annual real rate of Market Growth (%),Relative market share (%),A framework that:Enables one to judge the overall health of a portfolio of businesses; orFacilitates the decision making process for the allocation of resources among business units (or products)There are four basic positions that a business unit or product can occupy on the matrix:High market share and high market growth rate StarsHigh market share and low market growth rate Cash CowsLow market share and high market growth rate Question marksLow market share and low market growth rate DogsWhile the Strategic Position Assessment (McKinsey matrix) measures a large number of factors to assess the strategic attractiveness of a portfolio, BCG makes the implicit assumption that RMS is the key driver of competitive advantage and Market Growth is the key driver of market attractiveness. This is not always correct - hence the broader perspective taken by the SPA may be superior,The BCG Matrix: Why is RMS a key driver of competitive position?,Section 3.1 - BCG Matrix,If a business unit has a high relative market share, this indicates that it has sold (and therefore manufactured) a significant amount of productWhen compared to its competitors, this means that the business unit has:More experience in optimal production methods (work steps, types of materials used etc.)Sufficient history of demand to forecast future demand and optimal stock holding levelsGreater economies of scaleThese advantages should lead to lower unit costs for comparable (type and quality) products The theory therefore goes that companies which are further along the experience curve (have sold a greater amount of product) will generate larger amounts of cash - hence they have greater competitive advantage,18,Experience Curve,Unit Cost,Cumulative Volume,The BCG Matrix: How to construct the chart,Section 3.1 - BCG Matrix,Relative market shareIt is very important to select the correct market definitions for the individual businesses in order to calculate the correct RMS and growth ratesThere are two main methods for calculating relative market share:Set the company under consideration at RMS = 1 and calculate the relative shares of its competitors: Company under consideration: Sales 100 set to RMS = 1Company B: Sales 150 RMS = 150/100 = 1.5Company C: Sales 50 RMS = 50/100 = 0.5Set the largest competitor at RMS = 1 and calculate all other shares relative to that player:Largest competitor is company B: Sales 150 set to RMS = 1Company under consideration: Sales 100 RMS = 100/150 = 0.7Company C: Sales 50 RMS = 50/150 = 0.3,Note that in many cases, it may be preferable to use volume instead of value shares in order to strip out pricing differences between competitors when making these calculations, since these do not drive learning economies or economies of scale and hence do not drive competitive advantage Market Growth RateCalculate the CAGR for the relevant market/segment in which the business unit/product competes,19,The BCG Matrix: How to interpret the chart,Section 3.1 - BCG Matrix,20,Despite its limitations, the BCG matrix is a useful tool to determine the relative positions of a portfolio companies, business units or products. It tell us something about:The attractiveness of individual businesses within the portfolioThe overall health/balance of the portfolio. Any portfolio should comprise a balanced system of cash generators and cash usersWhile Stars may generate cash (at least in the longer term), they will require investment to maintain or build their strong positions. If successful, a star will convert into a cash cow when industry growth slows down Question marks require cash to grow market share, but it is unknown whether they will be successful and convert into stars. The few that may have a chance should be selected (by assessing future market potential and likely ROI) and given sufficient funding to convert into stars, while the remainder should be divestedCash cows require little investment and generate cash that can be used to invest in other business units milking for cash must however be done carefully as the business unit needs to receive sufficient investment to keep it competitive otherwise the cash will dry up!Dogs do not grow and therefore do not need a lot of cash, but they tie up capital that could be better spent elsewhere divest?,Invest for growth,Decide whether it will become a star or degenerate into a dog,Milk for cash,Divest,1,2,3,4,High,High,Low,Low,Annual real rate of Market Growth (%),Relative market share (%),Common UsesFor use in corporate strategy projects/DDs of a parent owning multiple business units:Framework for allocating/assessing allocation of resources among different business units Framework for understanding which parts of a business portfolio are of key strategic importance; either as cash generators for today or tomorrow Framework for comparing the performance of a companys portfolio to that of a key competitor,The BCG Matrix: PwC Expertise/Other References,Section 3.1 - BCG Matrix,Examples: Project GunnerSee H:Work-In-ProgressTS Strategy GroupArchiveOld Projects - by client nameH I JIsis - Friends Ivory & SimeHI333K8 - GunnerPresentationsProject Gunner Phase 1 Feedback.ppt for further details,21,Additional References:The Boston Consulting Group, Perspectives on Strategy: The Product Portfolio,Gunner publishes B2B magazines and organises industry exhibitions & conferences. It has a broad range of products in numerous sectors from wine to hotels to submarines to electronicsDuring the first phase review, it became apparent that there were 2 key success factors for Gunners products the underlying demand for B2B products and the competitive position and reputation of a product within that sectorWe used a versi