麦肯锡战略咨询手册.ppt

1、CONFIDENTIAL,BU Strategic Plan Template Book,Training materials 8 June 2001,This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey it is not a complete

2、 record of the discussion.,Jim Ayala PHO Melissa Gil PHO Regina Manzano PHO Suresh Mustapha PHO Steve Shaw HKO Shelly Yeh PHO Choon-Gin Tan SIO,1,STRATEGY PLANNING INSTRUCTIONS,The objective of these templates is to provide completeness and consistency of BU strategic plan submissions. These templat

3、es are not intended to replace or constrain BU strategic thinking and should be adapted to reflect a particular BUs sectoral context as required Each section begins with a summary that is based on a synthesis of questions and analyses that follow. The suggested approach would be to first complete th

4、e relevant back-up analyses and then work towards the overall synthesis,2,TABLE OF CONTENTS,I.Executive summary II.Environmental and internal assessment A.Industry dynamics and its implications B.Competitive assessment C.Internal assessment III.Strategic definition and implications A.Strategy articu

5、lation B.Strategic initiatives C.Financial projection D.Risks/contingencies and strategic alternatives IV.Exhibits,3,BU STRATEGIC PLAN DEVELOPMENT,Industry dynamics and implications,Environmental and internal assessment,Competitive assessment,Internal assessment,What are the major changes in industr

6、y dynamics and resulting opportunities and risks?,What are your competitive strengths and weaknesses?,How does your current business emphasis fit with industry opportunity and competitive landscape?,Strategy articulation,Strategic definition and implications,Strategic initiatives,Financial projectio

7、ns,What strategy will your BU pursue over the next 3 years?,What will be the impact of major strategic initiatives?,What are the expected financial returns of your strategy?,+,+,+,+,Risk/contingen-cies & strategic alternatives,What strategic alternatives have you considered?,+,4,I. EXECUTIVE SUMMARY

8、,Instructions: The Executive Summaryprovides a synthesis of theEnvironmental and InternalAssessments and theresultant BU Strategic Plans,5,II. ENVIRONMENTAL AND INTERNAL ASSESSMENT,6,IIA. INDUSTRY DYNAMICS AND IMPLICATIONS SUMMARY,A. What are the major changes in industry dynamics and the resulting

9、opportunities and risks?,A.2How is industry structure changing (demand, supply, and industry chain economics)? What are the resulting opportunities and risks?,A.3What is the expected competitor conduct? What are the resulting opportunities and risks?,A.4What are the present and future external facto

10、rs that could present new opportunities and risks?,A.1What industry are you competing in? What are the various segments in the industry?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,Instructions:These subsectionscontain a 1-2 sentencesummar

11、y of the relevantfindings,7,IIA. INDUSTRY DYNAMICS AND IMPLICATIONS BACK-UP 1,A.1What industry are you competing in? What are the various segments in the industry?,Industry definition Industry segmentation Definition Sizing,Instructions:Exhibit 1 could providea useful framework foranswering this que

12、stion,Industry definition:,Industry segmentation:,8,IIA. INDUSTRY DYNAMICS AND IMPLICATIONS BACK-UP 2,A.2How is industry structure changing with respect to demand, supply, and industry chain economics? What are the resulting opportunities and risks?,Economics of demand By segment Substitutes, abilit

13、y to differentiate Volatility, cyclicality Economics of supply Producer concentration and diversity Import competition Capacity utilization Entry/exit barriers Cost structure (fixed and variable) Industry chain economics Customer and supplier bargaining power,Instructions:Exhibit 2,3 or 4 could prov

14、idea useful framework foranswering this question,9,IIA. INDUSTRY DYNAMICS AND IMPLICATIONS BACK-UP 3,A.3What is the expected competitor conduct? What are the resulting opportunities and risks?,Major industry competitor moves Marketing initiatives Industry capacity changes M&As, divestitures Vertical

15、 integration/disaggregation Alliances and partnerships Cost control and efficiency improvements,Instructions:Exhibit 2,3 or 4 could providea useful framework foranswering this question,10,IIA. INDUSTRY DYNAMICS AND IMPLICATIONS BACK-UP 4,A.4What are the present and future external factors that could

16、 present new opportunities and risks?,Impact and likelihood of major industry discontinuities Changes in regulation/government policy Technological breakthroughs,Instructions:Exhibit 2,3 or 4 could providea useful framework foranswering this question,11,IIB. COMPETITIVE ASSESSMENT SUMMARY,B. What ar

17、e your competitive strengths and weaknesses?,B.1What are the capabilities required to succeed in this industry?,B.2How do you compare against these necessary capabilities?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,Instructions:These subs

18、ectionscontain a 1-2 sentencesummary of the relevantfindings,12,IIB. COMPETITIVE ASSESSMENT BACK-UP 1,B.1What are the capabilities required to succeed in this industry?,Privileged assets that create competitive advantage, e.g. physical assets, location/”space”, distribution/sales network, intangible

19、 assets (intellectual capital, network, brands, talents) Distinctive skills/competencies that create competitive advantage, e.g.innovation, talent development,Instructions:Exhibit 5 could providea useful framework foranswering this question,13,IIB. COMPETITIVE ASSESSMENT BACK-UP 2,B.2How do you comp

20、are against these necessary capabilities?,Strengths and weaknesses of your competitive position vs. necessary capabilities Benchmark performance against the industrys relevant key performance indicators (KPIs)*, with margin and market share as the required minimum,Strengths and weaknesses of your co

21、mpetitive position vs. necessary capabilities:,Benchmark performance against the relevant industrys KPIs:,Instructions:Exhibits 6 and 7 couldprovide a useful frameworkfor answering this question,Instructions:Exhibit 8 could providea useful framework foranswering this question,* KPIs are a handful of

22、 levers that drive the value of the industry/business,14,IIC. INTERNAL ASSESSMENT SUMMARY,C. How does your current business emphasis fit with the industry opportunities and the competitive landscape?,C.1Which segments of the business are providing the highest returns?,C.2What have been the performan

23、ce trends along major BU KPIs?,C.3Which intangible assets* could be near-term potential sources of value?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,Instructions:These subsectionscontain a 1-2 sentencesummary of the relevantfindings,* Ple

24、ase refer to Exhibit 12 for further description,15,IIC. INTERNAL ASSESSMENT BACK-UP 1,C.1Which segments of the business are providing the highest returns?*,Relevant BU segments (based on customer, product, geography, channel) Operating contribution estimates for each segment,Instructions:Exhibit 9 c

25、ould providea useful framework foranswering this question,* Based on latest available, 1-2 year historical financial statements,16,IIC. INTERNAL ASSESSMENT BACK-UP 2,C.2What have been performance trends along major BU KPIs?,KPI performance trends over the last 3-5 years, e.g. return on capital emplo

26、yed (ROCE), operating income, margins, capital employed Assessment of underlying trend drivers Expected evolution,Instructions:Exhibits 10 and 11 couldprovide a useful frameworkfor answering this question,ROCE = Operating income x (1- tax rate) All interest bearing debt (short and long) + minority i

27、nterest + stockholders equity,17,IIC. INTERNAL ASSESSMENT BACK-UP 3,C.3Which intangible assets could be near-term potential sources of value?,Identification of in-house intellectual property, talent, networks, brand/image Conversion into sources of value,Instructions:Exhibit 12 could providea useful

28、 framework foranswering this question,18,III. STRATEGIC DEFINITION AND IMPLICATIONS,19,IIIA. STRATEGY ARTICULATION SUMMARY,A. What strategy will your BU pursue over the next 3 years?,A.1Where to compete?,A.2What is your customer value proposition for the different segments you are going to serve?,A.

29、3What is your business model?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,A.4How does your chosen strategy exploit industry opportunities and address industry/competitive threats?,Instructions:These subsectionscontain a 1-2 sentencesummary

30、 of the relevantfindings,20,IIIA. STRATEGY ARTICULATION BACK-UP 1,A.1Where to compete?,Where are you going to compete along these dimensions and why: Target market Distribution channels Product (breadth and depth) Geographic scope,Instructions:Exhibit 13 could providea useful framework foranswering

31、this question,21,IIIA. STRATEGY ARTICULATION BACK-UP 2,A.2What is your customer value proposition for the different segments you are going to serve?,Target customer definition Benefits that you will offer the customers Product pricing Position against competition vis-vis the benefits provided and th

32、e price charged,Who is your target customer? What are the explicit benefits you provide to your customers? What perceived value do you provide to the customer better than competition? How much value do your customers attach to the benefits you provide?,22,IIIA. STRATEGY ARTICULATION BACK-UP 3,A.3Wha

33、t is your business model?,Delivery and communication of customer value proposition (value delivery system) Competitive advantage in delivering these benefits to the customer,How will the value proposition be provided and communicated? Which of your BUs existing strengths can be leveraged? What skill

34、s/capabilities do you need to build?,Instructions:Exhibit 15 could providea useful framework foranswering this question,23,IIIA. STRATEGY ARTICULATION BACK-UP 4,A.4How does your chosen strategy exploit the industry opportunities and address the industry/competitive threats?,Industry attractiveness a

35、nd implication review Alignment of strategy and environmental realities,24,IIIB. STRATEGIC INITIATIVES SUMMARY,B. What will be the impact of major strategic initiatives?,B3.How much value will be created from each strategic initiative?,B4.What resources willeach strategic initiativerequire?,Instruct

36、ions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,B1.What major strategic initiatives are required to successfully implement your selected business model?,B2.What are the sources of value created from each strategic initiative?,Instructions:These subsec

37、tionscontain a 1-2 sentencesummary of the relevantfindings,25,IIIB. STRATEGIC INITIATIVES BACK-UP 1,B.1What major strategic initiatives are required to successfully imple-ment your selected business model?,Possible strategic initiatives list,26,IIIB. STRATEGIC INITIATIVES BACK-UP 2,B.2What are the s

38、ources of value created from each strategic initiative?,Sources of value from each strategic initiative (e.g., EBIT, capital employed),Category of initiatives,Volume increase,EBIT impact via,Price increase,Cost reduction,Other,Invest-ment,Capital employed impact via,Divest-ment,Capitalefficiency*,Ot

39、her,* E.g. improved working capital employment, increased asset utilization, changes to asset ownership,Specific actionable initiatives,27,IIIB. STRATEGIC INITIATIVES BACK-UP 3,B.3How much value will be created from each strategic initiative?,one-time EBIT impact = one-time costs =,Financial impact

40、from each strategic initiative Expected financial outlay for each initiative,+,+,+,=,+,=,28,IIIB. STRATEGIC INITIATIVES BACK-UP 4,B.4What resources will each strategic initiative require?,Resources required to make strategy work Availability of resources in the organization Plan for filling resource

41、 gaps,Categories of initiatives,Specific actionable initiatives,People/skills,Resource requirements,Funding,Ex-Com involvement,29,IIIC. FINANCIAL PROJECTIONS SUMMARY,C. What are the expected financial returns of your strategy?,C.3What is your expected cash generation ability over the medium term?,C.

42、4What is your expected capital productivity?,C.2What is your projected net income in the next few years?,C.1What are the key assumptions?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,Instructions:These subsectionscontain a 1-2 sentencesumma

43、ry of the relevantfindings,30,IIIC. FINANCIAL PROJECTIONS BACK-UP 1,C.1What are the key assumptions?,Profit and loss (e.g. revenues, costs, margin) Balance sheet Corporate center directives Corporate center assumptions,Instructions:These are the minimum required assumptions. Feel free to add other a

44、ssumptions relevant to your BU,31,IIIC. FINANCIAL PROJECTIONS BACK-UP 2,C.2What is your projected net income in the next few years?,Income statement forecast,Instructions:These are the minimum required income statement accounts and analyses. Feel free to add other accounts and analyses relevant to y

45、our BU,32,IIIC. FINANCIAL PROJECTIONS BACK-UP 3,C.3What is your expected cash generation ability over the medium term?,Cash flow forecast,Instructions:These are the minimum required cash flow statement accounts. Feel free to add other accounts relevant to your BU,33,IIIC. FINANCIAL PROJECTIONS BACK-

46、UP 4,C.4What is your expected capital productivity?,Balance sheet forecast ROCE computation,ROCE = Operating income x (1- tax rate) All interest bearing debt (short and long) + minority interest + stockholders equity,Instructions:These are the minimum required balance sheet accounts and analyses. Fe

47、el free to add other accounts and analyses relevant to your BU,34,IIID. RISKS/CONTINGENCIES & STRATEGIC ALTERNATIVES SUMMARY,D. What strategic alternatives have you considered?,D.1What are the associated risks to your chosen strategy?,D.2Re-examining industry opportunities and industry/competitive t

48、hreats, what alternatives exist to your chosen strategy?,Instructions:The answer to thisoverarching questionrequires a recapitulationof the sections mainfindings,D.3Beyond the 3-year time frame, what breakthrough strategic options may be possible?,Instructions:These subsectionscontain a 1-2 sentence

49、summary of the relevantfindings,35,IIID. RISKS/CONTINGENCIES & STRATEGIC ALTERNATIVES BACK-UP 1,D.1What are the associated risks to your chosen strategy?,Identification of significant potential risks and plans to mitigate Sensitivity/scenario financial analysis,Potential risks,Business risk,Regulato

50、ry risk,Technology risk,Integrity risk,Macroeconomic risk,Impact,Likelihood,Contingency,Other,36,IIID. RISKS/CONTINGENCIES & STRATEGIC ALTERNATIVES BACK-UP 2,D.2Re-examining industry opportunities and industry/competitive threats, what alternatives exist to your chosen strategy?,Where to compete? Va

51、lue proposition Business model Alignment with external realities,Where to compete?: Alternative value proposition: Alternative business model: Alignment with external realities:,37,IIID. RISKS/CONTINGENCIES & STRATEGIC ALTERNATIVES BACK-UP 3,D.3Beyond the 3-year time frame, what breakthrough strateg

52、ic options may be possible?,“Out-of-the-box” ideas,Instructions:Think radical! Think out-of-the-box!,38,IV. EXHIBITS,39,SEGMENT ANALYSIS,Exhibit 1,ILLUSTRATIVE,Industry boundaries,Segments,Industry segments,Relatively distinct sub-groupings within the industry Market is relatively similar within the

53、 segment but different across segments Different industry dynamics may vary in importance in different segments,40,Producers,Industry,S,Technology breakthroughs Changes in government policy/regulations Domestic International,Economics of demand Availability of substitutes Differentiability of produc

54、ts Rate of growth Volatility/cyclicality Economics of supply Concentration of producers Import competition Diversity of producers Fixed/variable cost structure Capacity utilization Entry/exit barriers Industry chain economics Bargaining power of input suppliers Bargaining power of customers,Marketin

55、g Pricing Volume Advertising/promotion New products/R&D Distribution Capacity change Expansion/contraction Entry/exit Acquisition/merger/ divestiture Vertical integration Forward/backward integration Vertical joint ventures Long-term contracts Internal efficiency Cost control Logistics Process R&D O

56、rganization effectiveness,Finance Profitability Value creation Technological progress Employment objectives,External shocks,Feedback,tructure,C,onduct,P,erformance,STRUCTURE-CONDUCT-PERFORMANCE (SCP) MODEL,Exhibit 2,41,Exhibit 3,1.Determinants of supplier power Differentiation of inputs Switching co

57、sts of suppliers and firms in the industry Presence of substitute inputs Supplier concentration Importance of volume to supplier Cost relative to total purchases in the industry Impact of inputs on cost or differentiation Threat of forward integration relative to threat of backward integration by fi

58、rms in the industry,2.Determinants of barriers to entry Economies of scale Proprietary product differences Brand identity Switching costs Capital requirements Access to distribution Absolute cost advantages Proprietary learning curve Access to necessary inputs Proprietary, low-cost product design Go

59、vernment policy Expected retaliation,5.Rivalry determinants Industry growth Fixed (or storage) cost/value added Intermittent overcapacity Product differences Brand identity Switching costs Concentration and balance Informational complexity Diversity of competitors Corporate stakes Exit barriers,3.Determinants of buying power Bargaining leverage Buyer concentration vs. firm concentration Buyer volume Buyer sw