麦肯锡为三星做的标杆企业分析

SECChina010821BJ-Toshiba,CONFIDENTIAL,BrownGoodsandPCCompetitorAnalysis:Toshiba,SAMSUNGELECTRONICSCHINA(SECChina),August20,2001,Thisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinseyitisnotacompleterecordofthediscussion.,OVERVIEWOFCOMPETITORANALYSISFRAMEWORK,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategy,KeyproductofferingsMarketposition,1,SECChina010821BJ-Toshiba,BACKGROUNDINFORMATION,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategy,KeyproductofferingsMarketposition,2,SECChina010821BJ-Toshiba,Source:Toshibawebsite,Litsearch,BACKGROUNDINFORMATIONTOSHIBA,Established:,1875byHisashigeTanaka,PresidentMcKinseyAnalysis,TOSHIBASDEVELOPMENTWENTTHROUGHTHREESTAGES,OrganizationstructureCorporatestrategyProductDevelopmentMcKinseyAnalysis,DEVELOPMENTOFDALIANTOSHIBASTVBUSINESSINCHINA,KeyinitiativeKeyresults,1996-1997,Foundedasajointventurein1996,constructionwascompletedin1997.Conductedaccuratemarketforecastandimplementedjustinorderinventorymanagement.Inventoryturn-overlessthantwodays.Madeprofitthenextyear.,2001,1998-2000,FocusedonhighprofitmarginPJTVsegment,andcompetedontechnology,serviceandmanagementratherthanprice.StrengthenedcustomerserviceRevenueandprofitgrew50%annually.BecametheNo.1marketshareleaderinPJTVsegment.,ToshibadecidedtorelocateitsdigitalTVproductiontoDalianandinvested300milliontoexpandcapacityfromonemillionunitsto1.5millionunitsexported800,000unitstoJapan.,BusinessBuilding,EstablishingLeadershipinPJTVMarket,BecomingToshibasKeyGlobalTVProductionBase,8,SECChina010821BJ-Toshiba,TOSHIBAWILLFURTHERINVESTINITINDUSTRYINCHINA,Backgroundinformation,Source:Literatureresearch,interview,Source:literatureresearch,interview,9,SECChina010821BJ-Toshiba,TOSHIBAISTHELEADINGPLAYERINNOTEBOOKMARKETBOTHINCHINAANDGLOBALLY,Time,Keymilestones,198519901993199419992000,IntroducedthefirstnotebookintheworldIntroducedSTNnotebookIntroducedcolorTFTnotebookIntroducedPentium-empowerednotebookRankednumberoneinChinanotebookmarketfor4yearsRankednumberoneinworldwidenotebookmarketfor7years,EraanalysisofToshibainNotebook,Source:literatureresearch,interview,10,SECChina010821BJ-Toshiba,STRATEGY,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategyMarketposition,Keyproductofferings,11,SECChina010821BJ-Toshiba,TOSHIBASMISSIONANDVISION,Corporatemission“We,theToshibaGroupcompanies,basedonourtotalcommitmenttopeopleandtothefuture,aredeterminedtohelpcreateahigherqualityoflifeforallpeople,andtodoourparttohelpensurethatprogresscontinueswithintheworldcommunity,Corporatevision“Togrowwithexcellenceastheleading-edge,internet-readyenterprisegloballybyacceleratinginnovationwithagility,andtocreatea21stcenturyofsuccesshandinhandwithourcustomers,Source:Companywebsite,Litsearch.,12,SECChina010821BJ-Toshiba,THREESTRATEGIESPROPELTOSHIBATOBECOMEAGLOBALHI-TECHLEADERINTHENEWMELLIMUM,Toshibaasaleading-edge,internet-readygloballeaderinhi-tech,AcceleratethespeedofinnovationManagementInnovation(MI2001)isamajorinitiativebeingpromotedthroughoutToshibaGroup.Itisaimedatadvancingcreativedestructionandcompetitivesuperiority,Championmarket-centricmanagementCustomerRelationshipManagementandSupplyChainManagementsystemswillbedeployedtocovercompany-wideoperations.,Beinternet-readyDigitalManufacturing,anewsystem,willbeintroducedthroughouttheToshibaGroupAnITinfrastructureforcollaborativeengineeringwillbeestablished,Source:Litsearch,externalinterviews:ToshibaAnnualReport,13,SECChina010821BJ-Toshiba,ASSESSMENTOFTOSHIBASCURRENTSTRATEGICPOSITIONSWOT,Strengths,BroadanddiversifiedproductportfolioStrongpresenceinAsiaStrongR&Dandmanufacturingcapabilities,Weaknesses,LesscustomerfocusedWeakbrandnameincutting-edgeinformationtechnologiesUnbalancedglobalpresence,Opportunities,GlobaldigitalconvergenceEmergingtechnologies,i.e.,Internet,3GChinajoiningWTOopensdoorstoforeigncompanies,Threats,BureaucraticmanagementstyleItscoresemiconductorbusinessisacyclicalcommoditybusinessBehindthecurveinkeyITdevelopments,14,SECChina010821BJ-Toshiba,THEREARETWOSUCCESSFULMODELSINTHECHINACTVMARKET,DALIANTOSHIBAFOLLOWSTHESONYMODEL,TheKonkaModel,Capitalintensive,aggressivegrowththrougheconomiesofscaleinmanufacturingandinthesalesforceFrom1993to1998KonkaacquiredTVmanufacturers:NortheastDuDanJian,SanXi,AnSuo,ChongQingfactoriestobulkupGrewcapacityby2millionunitsfrom1993to1998ThrougheconomicsofscaleandaggressivepricingKonkawasabletogrowmarketsharefrom3%to11%from1995to2000,TheSonyModel,Zeroinonthehighend,highprofitsegmentofCRTTVmarketwithastrongbrandabletocommandpricepremiumsNotinastrongpresenceinunitmarketshare,butthetopbrandwhenconsumersrespondforthebrandqualityandreliabilityCorporatephilosophyunwillingtosacrificeprofitsforlargermarketshare(vastdifferentfromChineseplayers)Futuretargetfocusedonhigherend,cuttingedgetechnologyTVse.g.PJTV,DigitalTV,LCDandPDPwhichhavesignificantlyhigherprofitmargins.,Source:Litsearch,McKinseyanalysis,15,SECChina010821BJ-Toshiba,TOSHIBASHIFTSITSSTRATEGICFOCUSTOAPPLICATIONSOLUTIONANDCUSTOMERSERVICEINCHINANOTEBOOKMARKET,Mission,TobethemostresponsibleITproductapplicationsolutionandserviceprovider,Time,Strategicfocus,1996199719981999,ProductitselfChanneldevelopmentApplicationCustomerservice,2000,VIPcertificationfocusingoncorecustomersChanneldevelopmentinto2ndtiergeographiesApplicationsolutionofmobileofficeconcept,Toshibanotebookstrategy*inChina,Strategyevolvement,*ToshibanotebookstrategyinChinaisco-developedbyDigitalChina,Toshibasexclusivenotebookchief-distributorinChinaSource:literatureresearch,interview,16,SECChina010821BJ-Toshiba,PRODUCT/MARKET,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategy,KeyproductofferingsMarketposition,17,SECChina010821BJ-Toshiba,TOSHIBASGLOBALNETSALESBYBUSINESSSEGMENT,Source:Toshibawebsite,LitSearch,Yea2000(billion),Information&Communications&IndustrialSystems1,858,PowerSystems571,ElectronicDevices&Components1,477,DigitalMedia1,518,HomeAppliances660,Others473,18,SECChina010821BJ-Toshiba,DALIANTOSHIBAsKEYTVPRODUCTOFFERINGS,ColorTVs(inch,modelno.),ProjectionTVSeries:436161D9UXC50D9UXC43D9UXC50D8UXC43D8UXC,Source:Companywebsite,Litsearch,CRTTVSeries:212929D2DC29D2XC25D2XC25E3DC321D2NC,FlatTVSeries:213434D8UXC34D6DC29D8UXC29D6DC29D3XC25D6XC21AF6C,19,SECChina010821BJ-Toshiba,DALIANTOSHIBASMARKETPOSITIONINCHINASCONVENTIONALCRTTVMARKET:NO.5MARKETSHARELEADER,Marketsharebysales,%,Source:GFK,McKinseyAnalysis,Externalinterviews:Konka,Sony,Toshiba,1999,2000,Others,100%,100%,Keytrends,Rationale,IndustryundergoesfurtherconsolidationForeignplayerslosemarketsharetolocalplayers,TopfiveplayersinthemarketChanghong,TCl,Konka,Hisense,Skyworth,controlled41.6%ofthemarketin1999grewto43.7%in2000Localplayersincreasedmarketsharefrom65%in1999to67%in2000,1.9,2.0,Rowa,LG,Panda,Jinxing,Skyworth-RGB,Xoceco,Philips,Haier,Panasonic,Hisense,Toshiba,TCL,Changhong,Konka,Sony,20,SECChina010821BJ-Toshiba,DALIANTOSHIBASMARKETPOSITIONINCHINASPJTVMARKET:NO.1MARKETSHARELEADER,Source:GFK,internalinterview,literaturesearch,externalinterviews:Sony,Panasonic,Toshiba,Keytrends,Rationale,EstablishedMNCs,Toshiba,SonywillcontinuetodominatemarketLocalplayersstartestablishingthemselvesby2005,High-endproducerswithsuperiortechnologyinpixelresolutionandbrightnessLocalplayersexpectedtoacquirekeyPJTVtechnologiesasof2003Ascomparison,Changhongalonenowcontrols20%oflargescreenCRTVmarket,localplayerslikelytogainsimilarshareinPJTVmarket,MarketsharebysalesPercent,Local(KonkaChanghong,etc),OtherMNCs,Hitachi,Panasonic,Samsung,Sony,Toshiba,1999,2000,100%,100%,21,SECChina010821BJ-Toshiba,PJTVPLAYERSSTRENGTHSANDWEAKNESSES,Company,Strengths/weaknesses,Toshiba,StrongbrandnameAggressivesalesandmarketing,Sony,No.1brandnamePremiummarketwithhighestindustryprofits,Samsung,StrongqualityinresolutionandbrightnessSolidpositioninthemarketComparabletechnologywithJapanesecounterparts,OtherMNCs:Panasonic,Philips,etc.,Possessthetechnology,butyettoestablishthemselvesinmarket,Localcompanies:TCL,Konka,Hinsense,Haier,Changhong,LackthekeytechnologiesforPJTVcomponentstubesandscreenLow-endbrandhaveresultedinlowsalesvolumeWillfillupthetechnologygapbyabout2003,Source:Litsearch,McKinseyanalysis,22,SECChina010821BJ-Toshiba,TOSHIBAHASAFULL-LINEPROUCTOFFERINGINNOTEBOOK,COVERINGLOW-ENDTOPREMIUMSEGMENT,Source:Literatureresearch,Keyproductofferings,SatelliteSeries2800(13.3,14.1,15.0)PortegeSeries(7220CT,3480CT,3490CT)TecraSeries(8100H,8000J,8200)Satellite1750(13.3)Newsatellite2800(13.3,14.1,15.0)SatellitePro4600(13.3,14.1,15.0)NewSatellitePro4600(14.1)Satellite3000(13.3),Source:literatureresearch,23,SECChina010821BJ-Toshiba,TOSHIBAISSTRONGINEDUCATION,LARGEANDMEDIUMBUSINESS,BUTPARTICULARLYWEAKINGOVERNMENT,Source:IDC,Smalloffice,Home,100%=,Toshiba,Marketaverage,73,484,Education,Government,Largebusiness,Smallbusiness,Mediumbusiness,3.8,3.5,3.7,SalesbycustomersegmentsPercentofunitsshipment(000s),2000,24,SECChina010821BJ-Toshiba,TOSHIBAISGENERALLYAMEDIUMTOHIGH-ENDPLAYER,PARTICULARLYSTRONGINUSD2.5-3.5KPRICEBRAND,Source:IDC,0.9,Low(0-2k),Medium(2-2.5k),High(2.5-3.5k),100%=,0.11,0.12,0.17,0.7,3.5,1.4,0.1,0.08,Premium(3.5K),2.2,Toshibasmarketshare,0.1,SalesbycustomersegmentsPercentofunitsshipment(M),2000,Others,Dell,IBM,Founder,Legend,Acer,Toshiba,25,SECChina010821BJ-Toshiba,VALUECHAINSTRATEGY,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategy,KeyproductofferingsMarketposition,26,SECChina010821BJ-Toshiba,Source:LiteratureSearch,Konkawebsite,teamanalysis,ToshibaDigitalMediaNetworkCompanyisresponsibleforColorTVR&D,DalianToshibaisresponsibleforTVproduction.30%partscomefromChina,DalianToshibaandits4subsidiariesinDalian,Beijing,ShanghaiandGuangzhouareresponsibleformarketingandsales,DalianToshibaprimarilyusessalesforcesinitsfoursubsidiariestosellTVproductsdirectlytoretailers.ItalsousesdistributorsincertainregionssuchasChongqing.,Toshiba(China)helpedsetuptheafter-salesservicenetwork,andDalianToshibaisrunningthenetworkandresponsibleforPNL.,Digitalmedia,DigitalMediaNetworkCo.,DalianToshibaTVCo.,TOSHIBACHINATVBUSINESSHASAPRODUCTLINEORIENTEDVALUEDELIVERYSYSTEM,27,SECChina010821BJ-Toshiba,DALIANTOSHIBASTVDISTRIBUTIONCHANNEL,Source:McKinseyLiteratureSearch,externalinterviews,McKinseyanalysis,DalianToshibaTVCo.ManufacturingPlant,DalianSubsidiaryBeijingSubsidiaryShanghaiSubsidiaryGuangzhouSubsidiary,Distributors,Retailers:Hyper/super-market:10%DesignatedStores:25%Dept.Stores:30%SpecialtyStores:35%,Consumers,SubsidiarySalesForce,70%,30%,28,SECChina010821BJ-Toshiba,TOSHIBAADOPTSTHENATIONALCHIEF-DISTRIBUTORPRACTICEINNOTEBOOKBUSNIESSINCHINA,ToshibaR&D,ToshibaSHOEM:Renbao,aTaiwaneseOEMplayerDigitalChina,DigitalChina(forToshibanotebookonly)Toshiba,DigitalChinaCentralizekeyaccountsacrossdifferentproductsCentralizeSIforkeyaccounts(banking,tax)Beinchargeofchanneldevelop-mentandmanagement,DigitalChinaMajorresponsibilityToshibaSHfactoryPartsinventoryAncillaryhotline,Toshiba,ToshibaSH,OEM,Toshiba,ToshibaSH,Dealers,DigitalChina,Source:interview,29,SECChina010821BJ-Toshiba,TOSHIBAHASPOSITIONEDCHINAASAKEYR&DBASE,*TheothertwoR&DcentersareintheUKandtheUSrespectivelySource:Literatureresearch,Three-layerstructureofToshibaR&DFirstlayerfocusingontechnologytrendsinthenext3-5yearsSecondlayerfocusingonmulti-mediatechnologyandtechnologytrendsinthenext2-3yearsThirdlayerfocusingonproductdevelopmentToshibaR&DinChinaEstablishedR&DdepartmentinBeijing,April2001PlantodevelopitintoToshiba(China)R&Dcenter”inOctober2001whichwillbethethirdoverseasR&DcenterofToshibaPlantohave250peoplethisyearandexpandto500peopleinR&Dcenterin2005,R&D,30,SECChina010821BJ-Toshiba,TOSHIBAHASOUTSOURCEDTHEMAJORPARTOFNOTEBOOKMANU-FACTURINGANDITSDISTRIBUTORISCAPABLEOFCUSTOMIZATIONINCONFIGURATION,Source:Literatureresearch,interview,Manufacturing,Partiesinvolved,Responsibilities,ToshibaSH,AssemblingproductiontocovertotalvolumesoldinChinaAssemblingproductionforexpert,OEM(Renbao),Majorpartofnotebookmanufacturing,31,SECChina010821BJ-Toshiba,UNDERSTRONGCOSTPRESSURE,DIGITALCHINAANDTOSHIBAAREPUSHINGTOWARDSMOREFLATTENEDCHANNELSTRUCTURE,Source:CCID,interview,ChannelStructure,ChannelCostPercentofretailprice,DigitalChina,Coredistributors(50),Direct,Specialtyshops(over100),Industrydistributors,Endusers,Secondtierdealers(hundreds),Before1997,1997-1998,1999-2001,Futureexpecta-tionofmanu-facturers,10,10,8-10,5-8,Paysufficientattentiontofast-growingcustomersegments,suchaseducationandhome,aswellasmajorsegments,suchasgovernmentandbusinessExpandinto2nd-tiergeographiesandenhancechannel,Channelstrategy,32,SECChina010821BJ-Toshiba,DIGITALCHINAISBUILDINGUPANADVANCEDNATION-WIDEDISTRIBUTIONNETWORKTOFURTHERCUTDOWNCOST,Source:Literatureresearch,interview,Distribution,33,SECChina010821BJ-Toshiba,DESPITECONTINUOUSIMPROVEMENT,TOSHIBANOTEBOOKSCUSTOMERSERVICESTILLLAGSBEHINDINCERTAINASPECTS,VIPcertificateForA-classcustomers,Toshibanotebookguaranteeincludesresponsewithin10hours,andrepairfinishedwithin20hours,otherwiseofferingabackupnotebookOn-siteserviceOn-siteserviceisofferedinBeijing,Shanghai,andGuangzhouDellandAceroffer4-hourresponsecommitmentDellofferson-siteserviceinmajorcitiesinChina,Customerservice,*FootnoteSource:Source,Majorinitiatives,Competitorsofferings,Source:Literatureresearch,interview,34,SECChina010821BJ-Toshiba,ORGANIZATIONANDOWNERSHIP,1.Backgroundinformation,LocationRegisteredcapitalManagementteamEquitystructure,StartingyearNumberofemployeesEraanalysis,4.Valuechainstrategy,5.Organizationandownership,6.Financialperformance,FocusonMarketing,advertisingandpromotionDistribution(channelandsalesforce),OrganizationstructureOwnershipstructure,SalesProfit,2.Strategy,3.Product/market,MissionVisionCorporatestrategyMarketposition,Keyproductofferings,35,SECChina010821BJ-Toshiba,Source:Litsearch,teamanalysis,TOSHIBASCORPORATESTRUCTURE,StatutoryAuditors,BoardofDirectors,President&CEO,Corporateproject,Corporatestaff,Corporatesupportservices,iValueCreationCompany,e-SolutionsCompany,SocialInfrastructureSystemsCompany,DigitalMediaNetworkCompany,MobileCommunicationsCompany,PowerSystems&ServicesCompany,SemiconductorCompany,DisplayDevices&ComponentsCompany,MedicalSystemsCompany,HomeAppliancesCompany,Japan,ForeignCountry,DalianToshibaTV,Ltd,OtherJV,OtherSubsidiaries,Japan,ForeignCountry,36,SECChina010821BJ-Toshiba,SECChina010821BJ-Toshiba,37,TOSHIBASMAJORSHAREHOLDERS,Source:Toshibawebsite,(AsofSeptember30,2000),Entity,PercentOutstanding,TheDaiichiMutualLifeInsuranceCompany,TheSakuraBank,Ltd.,NipponLifeInsuranceCompany,StateStreetBankandTrustCompany,TheChaseManhattanBankNALondon,TheSumitomoTrustandBankingCo.,Ltd.,EmployeesStockOwnershipPlan,TheMitsubishiTrustandBankingCorporation,MitsuiMutualLifeInsuranceCompany,TheNipponFire&MarineInsuranceCo.,Ltd.,3.94%,3.88%,3.36%,2.55%,2.28%,2.27%,1.88%,1.68%,1.65%,1.55%,T