战略管理：建立持续竞争优势（第18版）课件 第5章 行动中的战略

StrategicManagement:ACompetitiveAdvantageApproach,ConceptsandCasesEighteenthEditionChapter5StrategiesinActionCopyright©2024,2020,2017PearsonEducation,Inc.LearningObjectives5.1 Identifyanddiscuss5characteristicsand10benefitsofclearobjectives.5.2 Defineandgiveanexampleof11typesofstrategies.5.3 Identifyanddiscussthethreetypesofintegrationstrategies.5.4 Givespecificguidelinesforwhenmarketpenetration,marketdevelopment,andproductdevelopmentareespeciallyeffectivestrategies.5.5 Explainwhendiversificationisaneffectivebusinessstrategy.LearningObjectives(continued)5.6 Listguidelinesforwhenretrenchment,divestiture,andliquidationareespeciallyeffectivestrategies.5.7 Explainvaluechainanalysisandbenchmarkinginstrategicmanagement.5.8 IdentifyanddiscussPorter’stwogenericstrategies:costleadershipanddifferentiation.5.9 Compareandcontrastwhencompaniesshouldbuild,borrow,orbuyaskeymeansforachievingstrategies.5.10 Discussfirst-moveradvantagesanddisadvantages.5.11 Explainhowstrategicplanningdiffersinfor-profit,not-for-profit,andsmallfirms.Figure5.1TheComprehensive,Integrative,StrategicManagementModelSource:

FredR.David,“HowCompaniesDefineTheirMission,”LongRangePlanning22,1(February1989):91.SeealsoAnikRatnaningsih,NadjadjiAnwar,PatdonoSuwignjo,andPutuArtamaWiguna,“BalanceScorecardofDavid’sStrategicModelingatIndustrialBusinessforNationalConstructionContractorofIndonesia,”JournalofMathematicsandTechnology4(October2010):20.SeealsoMeredithE.David,FredR.David,andForestR.David,“ClosingtheGapBetweenGraduates’SkillsandEmployers’Requirements:AFocusontheStrategicManagementCapstoneBusinessCourse,”AdministrativeSciences11,1(2021):10–26.Long-TermObjectivesTheresultsexpectedfrompursuingcertainstrategies2-to5-yeartimeframeWithoutlong-termobjectivesthefirmwoulddriftaimlesslytowardsomeunknownendorchaseshort-termfadsTable5.1FiveCharacteristicsofObjectivesQuantitative:measurableUnderstandable:clearChallenging:achievableCompatible:consistentverticallyandhorizontallyinachainofcommandObtainable:realisticTable5.210BenefitsofHavingClearObjectivesProvidedirectionbyrevealingexpectations.Allowsynergy.Assistinevaluationbyservingasstandards.Establishpriorities.Reduceuncertainty.Minimizeconflicts.Stimulateexertion.Aidinallocationofresources.Aidindesignofjobs.Providebasisforconsistentdecision-making.FinancialVersusStrategicObjectivesFinancialobjectivesincludegrowthinrevenues,growthinearnings,higherdividends,largerprofitmargins,greaterreturnoninvestment,higherearningspershare,arisingstockprice,improvedcashflow,andsoon.Strategicobjectivesincludealargermarketshare,quickeron-timedeliverythanrivals,shorterdesign-to-markettimesthanrivals,lowercoststhanrivals,higherproductqualitythanrivals,widergeographiccoveragethanrivals,achievingtechnologicalleadership,consistentlygettingneworimprovedproductstomarketaheadofrivals,andsoon.AvoidManagingbyCrisis,Hope,Extrapolation,andMystery(CHEM)ManagingbyCrisis–basedonthebeliefthatgoodmanagersareproblemsolvers.ManagingbyHope–basedonthefutureuncertaintyandwemayhavetomakemultipleattemptsandhopewesucceedatsomepoint.ManagingbyExtrapolation–basedontheadage“Ifitain’tbroke,don’tfixit.”Maintainthestatusquoifthingsappeartobegoingright.ManagingbyMystery–basedontheideathereisnogeneralplan.Justdowhatyouthinkisbestandwhatyouthinkshouldbedone.TypesofStrategiesMostorganizationssimultaneouslypursueacombinationoftwoormorestrategies,butacombinationstrategy

canbeexceptionallyriskyifcarriedtoofar.Noorganizationcanaffordtopursueallthestrategiesthatmightbenefitthefirm.Difficultdecisionsmustbemade,andprioritiesmustbeestablished.Table5.3AlternativeStrategiesDefinedandRecentExamplesGivenStrategyDefinitionExampleForwardIntegrationGainingownershiporincreasedcontroloverdistributorsorretailersAmazonisadding500newdistributioncentersgloballytospeedupitsdeliveries.BackwardIntegrationSeekingownershiporincreasedcontroloversuppliersFordisjoiningwithGlobalFoundries,Inc.toproduceneededsemiconductors.HorizontalIntegrationSeekingownershiporincreasedcontrolovercompetitorsSkillsoftCorp.acquiredrivalU.S.-basededucationtechnologyfirmCodecademy.MarketPenetrationSeekingincreasedmarketshareforpresentproductsinpresentmarketsthroughgreatermarketingCryptocurrencyfirmCranitsfirstSuperBowlcommercialin2022.MarketDevelopmentIntroducingpresentproductsintoanewgeographicareaCostcoisadding20newstoresannually;low-costgrocerLidlisbuilding50newstores.ProductDevelopmentSeekingincreasedsalesbyimprovingpresentproductsordevelopingnewonesDollarTree,ownerofFamilyDollar,isexpandingitsofferingsoffreshproduce.Table5.3(continued)AlternativeStrategiesDefinedandRecentExamplesGivenStrategyDefinitionExampleRelatedDiversificationAddingnewbutrelatedproductsFenwaySportsGroupthatownstheBostonRedSoxjustacquiredthePittsburghPenguinshockeyteam.UnrelatedDiversificationAddingnew,unrelatedproductsThesecurityfirmADTjustacquiredSunproSolarfor$825million.RetrenchmentRegroupingthroughcostandassetreductiontoreversedecliningsalesandprofitGeneralMillslaidoff1,400employeesin2021.DivestitureSellingadivisionorpartofanorganizationAT&Tdivesteditsonlineadvertisingsegment,Xandra,toMicrosoft.LiquidationSellingallofacompany’sassets,inparts,fortheirtangibleworthMom-and-poprestaurantDEFInc.soldallitsassetsandceaseddoingbusiness.Figure5.2LevelsofStrategieswithPersonsMostResponsibleTable5.4VaryingPerformanceMeasuresbyOrganizationalLevelOrganizationalLevelBasisforAnnualBonusorMeritPayCorporate:overallfirm75%basedonlong-termobjectives25%basedonannualobjectivesDivisional(suchasbyproductorregion)50%basedonlong-termobjectives50%basedonannualobjectivesFunctional(suchasmarketingorfinance)25%basedonlong-termobjectives75%basedonannualobjectivesOperational(suchasmanufacturingplants)25%basedonlong-termobjectives75%basedonannualobjectivesIntegrationStrategiesForwardIntegrationinvolvesgainingownershiporincreasedcontroloverdistributorsorretailersBackwardIntegrationstrategyofseekingownershiporincreasedcontrolofafirm'ssuppliersHorizontalIntegrationastrategyofseekingownershipoforincreasedcontroloverafirm'scompetitorsSixForwardIntegrationGuidelinesWhenanorganization’spresentdistributorsareespeciallyexpensiveWhentheavailabilityofqualitydistributorsissolimitedastoofferacompetitiveadvantageWhenanorganizationcompetesinanindustrythatisgrowingWhenanorganizationhasbothcapitalandhumanresourcestomanagedistributingtheirownproductsWhentheadvantagesofstableproductionareparticularlyhighWhenpresentdistributorsorretailershavehighprofitmarginsSevenBackwardIntegrationGuidelinesWhenanorganization’spresentsuppliersareespeciallyexpensiveorunreliableWhenthenumberofsuppliersissmall,andthenumberofcompetitorsislargeWhentheorganizationcompetesinagrowingindustryWhenanorganizationhasbothcapitalandhumanresourcesWhentheadvantagesofstablepricesareparticularlyimportantWhenpresentsuppliershavehighprofitmarginsWhenanorganizationneedstoquicklyacquireaneededresourceSixHorizontalIntegrationGuidelinesWhenanorganizationcangainmonopolisticcharacteristicsinaparticularareaorregionwithoutbeingchallengedbythefederalgovernmentWhenanorganizationcompetesinagrowingindustryWhenincreasedeconomiesofscaleprovidemajorcompetitiveadvantagesWhenanorganizationhasboththecapitalandhumantalentneededWhencompetitorsarefalteringduetoalackofmanagerialexpertiseWhenafirmdesirestoenteranewgeographicmarketquicklyIntensiveStrategiesMarketPenetrationStrategyseekstoincreasemarketshareforpresentproductsorservicesinpresentmarketsthroughgreatermarketingeffortsMarketDevelopmentinvolvesintroducingpresentproductsorservicesintonewgeographicareasProductDevelopmentStrategyseeksincreasedsalesbyimprovingormodifyingpresentproductsorservicesFiveMarketPenetrationGuidelinesWhencurrentmarketsarenotsaturatedwithaparticularproductorserviceWhentheusagerateofpresentcustomerscouldbeincreasedsignificantlyWhenthemarketsharesofmajorcompetitorshavebeendecliningwhiletotalindustrysaleshavebeenincreasingWhenthecorrelationbetweendollarsalesanddollarmarketingexpenditureshistoricallyhasbeenhighWhenincreasedeconomiesofscaleprovidemajorcompetitiveadvantagesSevenMarketDevelopmentGuidelinesWhennewchannelsofdistributionareavailablethatarereliable,inexpensive,andofgoodqualityWhenanorganizationisverysuccessfulatwhatitdoesWhennewuntappedorunsaturatedmarketsexistWhenanorganizationhastheneededcapitalandhumanresourcestomanageexpandedoperationsWhenanorganizationhasexcessproductioncapacityWhenanorganization’sbasicindustryisrapidlybecomingglobalinscopeWhenconsumptionhabitsofthefirm’sproductsaresimilarinothergeographicareasFiveProductDevelopmentGuidelinesWhenanorganizationhassuccessfulproductsthatareinthematuritystageoftheproductlifecycleWhenanorganizationcompetesinanindustrycharacterizedbyrapidtechnologicaldevelopmentsWhenmajorcompetitorsofferbetter-qualityproductsatcomparablepricesWhenanorganizationcompetesinahigh-growthindustryWhenanorganizationhasespeciallystrongresearchanddevelopmentcapabilitiesDiversificationStrategiesRelatedDiversificationvaluechainspossesscompetitivelyvaluablecross-businessstrategicfitsUnrelatedDiversificationvaluechainsaresodissimilarthatnocompetitivelyvaluablecross-businessrelationshipsexistSynergiesofRelatedDiversificationTransferringcompetitivelyvaluableexpertise,technologicalknow-how,orothercapabilitiesfromonebusinesstoanotherCombiningtherelatedactivitiesofseparatebusinessesintoasingleoperationtoachievelowercostsExploitingcommonuseofaknownbrandnameUsingcross-businesscollaborationtocreatestrengthsFiveRelatedDiversificationGuidelinesWhenanorganizationcompetesinano-growthoraslow-growthindustryWhenaddingnew,butrelated,productswouldsignificantlyenhancethesalesofcurrentproductsWhennew,butrelated,productscouldbeofferedathighlycompetitivepricesWhennew,butrelated,productshaveseasonalsaleslevelsthatcounterbalanceanorganization’sexistingpeaksandvalleysWhenanorganization’sproductsarecurrentlyinthedecliningstageoftheproduct’slifecycleWhenanorganizationhasastrongmanagementteamFiveUnrelatedDiversificationGuidelinesWhenexistingmarketsforanorganization’spresentproductsaresaturatedWhenanorganizationcompetesinahighlycompetitiveorano-growthindustry,asindicatedbylowindustryprofitmarginsandreturnsWhenanorganization’spresentchannelsofdistributioncanbeusedtomarketthenewproductstocurrentcustomersWhenthenewproductshavecountercyclicalsalespatternscomparedtopresentproductsWhenanorganizationhasthecapitalandmanagerialtalentneededtocompetesuccessfullyinanewindustryDefensiveStrategies(1of3)RetrenchmentRegroupsthroughcostandassetreductiontoreversedecliningsalesandprofitsDivestitureSellingadivisionorpartofanorganizationOftenusedtoraisecapitalforfurtherstrategicacquisitionsorinvestmentsLiquidationSellingallofacompany’sassets,inparts,fortheirtangibleworthDefensiveStrategies(2of3)Retrenchmentoccurswhenanorganizationregroupsthroughcostandassetreductiontoreversedecliningsalesandprofitsalsocalledaturnaroundorreorganizationalstrategydesignedtofortifyanorganization’sbasicdistinctivecompetenceThreeRetrenchmentGuidelinesWhenanorganizationisplaguedbyinefficiency,lowprofitability,pooremployeemorale,andpressurefromstockholderstoimproveperformanceWhenanorganizationfailstocapitalizeonexternalopportunities,minimizeexternalthreats,takeadvantageofinternalstrengths,andovercomeinternalweaknessesovertime;thatis,theorganization’sstrategicmanagershavefailed(andpossiblywillbereplacedbymorecompetentindividuals)WhenanorganizationhasgrownsolargesoquicklythatmajorinternalreorganizationisneededFiveDivestitureGuidelinesWhenanorganizationhaspursuedaretrenchmentstrategyandfailedtoaccomplishimprovementsWhenadivisionisresponsibleforanorganization'soverallpoorperformanceWhenadivisionisamisfitwiththerestofanorganizationWhenalargeamountofcashisneededquicklyandcannotbeobtainedreasonablyfromothersourcesWhengovernmentantitrustactionthreatensafirmDefensiveStrategies(3of3)Liquidationsellingallofacompany’sassets,inparts,fortheirtangibleworthcanbeanemotionallydifficultstrategyTwoLiquidationGuidelinesWhenanorganizationhaspursuedbotharetrenchmentstrategyandadivestiturestrategy,andneitherhasbeensuccessfulWhenthestockholdersofafirmcanminimizetheirlossesbysellingtheorganization’sassetsValueChainAnalysisandBenchmarkingValuechainanalysisTheprocesswherebyafirmdeterminesthevalue(priceminuscost)ofeachandallactivitiesthatwentintoproducingandmarketingaproduct,frompurchasingrawmaterialstomanufacturing,distributing,andmarketingthoseproducts.BenchmarkingEntailsexaminationofvaluechainactivitiesacrossanindustrytodetermine“bestpractices”amongcompetingfirms;firmsengageinbenchmarkingforthepurposeofduplicatingorimprovingonthosebestpractices.Figure5.3AValueChainIllustratedFigure5.4AnExampleValueChainforaTypicalManufacturingCompanyFigure5.4(continued)AnExampleValueChainforaTypicalManufacturingCompanyFigure5.5TransformingValueChainActivitiesintoSustainedCompetitiveAdvantagesMichaelPorter’sTwoGenericStrategiesCostLeadershipemphasizesproducingstandardizedproductsataverylowper-unitcostforconsumerswhoareprice-sensitiveType1Low-cost

strategythatoffersproductsorservicestoawiderangeofcustomersatthelowestpriceavailableonthemarketType2Narroworfocusedlow-coststrategythatoffersproductsorservicestoasmallrangeofcustomersatoneofthelowestpricesinthemarketMichaelPorter’sTwoGenericStrategies

(continued)Differentiationisa

strategyaimedatproducingproductsandservicesconsidereduniqueindustry-wideanddirectedatconsumerswhoarerelativelyprice-insensitiveType3WidetargetmarketType4NarrowtargetmarketMeansforAchievingStrategiesBUILDfromwithintogrowAblueoceanstrategyaimstocreateatargetmarketwherethereisnocompetitionyetBORROWfromotherstogrowFirmstendto“borrow”capabilitiesthroughjointventuresorstrategicalliancesBUYotherstogrowMergerandacquisitionreferstofirmsbuyingotherstogrowFourCommonReasonsJointVenturesStruggleManagerswhomustcollaboratedailyinoperatingtheventurearenotinvolvedinformingorshapingtheventure.Theventuremaybenefitthepartneringcompaniesbutmaynotbenefitcustomers,whothencomplainaboutpoorerserviceorcriticizethecompaniesinotherways.Theventuremaynotbesupportedequallybybothpartners.Ifsupportedunequally,problemsarise.Theventuremaybegintocompetemorewithoneofthepartnersthantheother.SixJointVentureGuidelinesWhenaprivately-ownedfirmformsajointventurewithapublicly-ownedorganization.Privatelyheldfirmsandpubliclyheldcansometimescreatesynergiesinajointventure.Whenadomesticfirmformsajointventurewithaforeigncompany.Whenthedistinctcompetenciesoftwoormorefirmscomplementeachotherespeciallywell.Whenaparticularprojectispotentiallyprofitablebutrequiresoverwhelmingresourcesandrisks.Whentwoormoresmallerfirmshavetroublecompetingwithalargefirm.Whenthereisaneedtoquicklyintroduceanewtechnology.Table5.6SixReasonsWhyManyMergersandAcquisitionsFailIntegrationdifficultiesupanddownthetwovaluechainsTakingontoomuchnewdebtthetargetfirmowesortobuythetargetInabilitytoachievesynergyToomuchdiversificationDifficulttointegratedifferentorganizationalculturesReducedemployeemoraleduetolayoffsandrelocationsTable5.712PotentialBenefitsofMergingwithorAcquiringAnotherFirmToprovideimprovedcapacityutilizationTomakebetteruseoftheexistingsalesforceToreducemanagerialstaffTogaineconomiesofscaleTosmoothoutseasonaltrendsinsalesTogainaccesstonewsuppliers,distributors,customers,products,andcreditorsTogainnewtechnologyTogainmarketshareToenterglobalmarketsT