企业战略管理_第6章

1、Copyright 2007 Prentice Hall,Ch 6 -1,Chapter 6Strategy Analysis & Choice,Strategic Management: Concepts & Cases 11th Edition Fred David,Copyright 2007 Prentice Hall,Ch 6 -2,Chapter Outline,The Nature of Strategy & Choice,A Comprehensive Strategy-Formulation Framework,The Input Stage,Copyright 2007 P

2、rentice Hall,Ch 6 -3,Chapter Outline (contd),The Matching Stage,The Decision Stage,Cultural Aspects of Strategy Choice,Copyright 2007 Prentice Hall,Ch 6 -4,Chapter Outline (contd),The Politics of Strategy Choice,Governance Issues,Copyright 2007 Prentice Hall,Ch 6 -5,To acquire or not to acquire, tha

3、t is the question Robert J. Terry,Strategy Analysis & Choice,Life is full of lousy options General P.X. Kelley,Copyright 2007 Prentice Hall,Ch 6 -6,- Establishing long-term objectives - Generating alternative strategies - Selecting strategies to pursue - Best alternative - achieve mission & objectiv

4、es,Nature of Strategy Analysis & Choice,Strategy Analysis & Choice,Copyright 2007 Prentice Hall,Ch 6 -7,Vision Mission Objectives External audit Internal audit Past successful strategies,Strategy Analysis & Choice,Alternative Strategies Derive From -,Copyright 2007 Prentice Hall,Ch 6 -8,Strategy Ana

5、lysis & Choice,Generating Alternatives -,Participation in generating alternative strategies should be as broad as possible,Copyright 2007 Prentice Hall,Ch 6 -9,Comprehensive Strategy-Formulation Framework,Stage 1:The Input Stage,Stage 2:The Matching Stage,Stage 3:The Decision Stage,Copyright 2007 Pr

6、entice Hall,Ch 6 -10,Strategy-Formulation Analytical Framework,Internal Factor EvaluationMatrix (IFE),External Factor EvaluationMatrix (EFE),Competitive Profile Matrix(CPM),Stage 1:The Input Stage,Copyright 2007 Prentice Hall,Ch 6 -11,Stage 1: The Input Stage,Basic input information for the matching

7、 & decision stage matrices Requires strategists to quantify subjectivity early in the process Good intuitive judgment always needed,Copyright 2007 Prentice Hall,Ch 6 -12,Strategy-Formulation Analytical Framework,SWOT Matrix,SPACE Matrix,BCG Matrix,IE Matrix,Grand Strategy Matrix,Stage 2:The Matching

8、 Stage,Copyright 2007 Prentice Hall,Ch 6 -13,Stage 2: The Matching Stage,Match between organizations internal resources & skills and the opportunities & risks created by its external factors,Copyright 2007 Prentice Hall,Ch 6 -14,Stage 2: The Matching Stage,Strengths Weaknesses Opportunities Threats,

9、SWOT Matrix,Copyright 2007 Prentice Hall,Ch 6 -15,SWOT Matrix,Strengths-Opportunities (SO) Weaknesses-Opportunities (WO) Strengths-Threats (ST) Weaknesses-Threats (WT),Four Types of Strategies,Copyright 2007 Prentice Hall,Ch 6 -16,SO Strategies,Use a firmsinternal strengthsto take advantageof extern

10、al opportunities,SOStrategies,StrengthsWeaknessesOpportunities ThreatsSWOT,Copyright 2007 Prentice Hall,Ch 6 -17,WO Strategies,Improving internalweaknesses bytaking advantageof externalopportunities,WOStrategies,StrengthsWeaknessesOpportunities ThreatsSWOT,Copyright 2007 Prentice Hall,Ch 6 -18,ST St

11、rategies,Use a firms strengthsto avoid orreduce the impactof externalthreats,STStrategies,StrengthsWeaknessesOpportunities ThreatsSWOT,Copyright 2007 Prentice Hall,Ch 6 -19,WT Strategies,Defensive tacticsaimed at reducinginternal weaknesses & avoidingenvironmentalthreats,WTStrategies,StrengthsWeakne

12、ssesOpportunities ThreatsSWOT,Copyright 2007 Prentice Hall,Ch 6 -20,SWOT Matrix,Developing the SWOT,List firms key internal Strengths List firms key internal Weaknesses List firms key external Opportunities List firms key external Threats,Copyright 2007 Prentice Hall,Ch 6 -21,SWOT Matrix,Copyright 2

13、007 Prentice Hall,Ch 6 -22,Key Internal Factor,Key External Factor,Resultant Strategy,Matching Key Factors to Formulate Alternative Strategies,Copyright 2007 Prentice Hall,Ch 6 -23,Limitations with SWOT Matrix,Does not show how to achieve a competitive advantage Provides a static assessment in time

14、May lead the firm to overemphasize a single internal or external factor in formulating strategies,Copyright 2007 Prentice Hall,Ch 6 -24,Strategy-Formulation Analytical Framework,SWOT Matrix,SPACE Matrix,BCG Matrix,IE Matrix,Grand Strategy Matrix,Stage 2:The Matching Stage,Copyright 2007 Prentice Hal

15、l,Ch 6 -25,SPACE Matrix,Strategic Position & Action Evaluation Matrix,Aggressive Conservative Defensive Competitive,Copyright 2007 Prentice Hall,Ch 6 -26,SPACE Matrix,Two Internal Dimensions,Financial Strength (FS) Competitive Advantage (CA),Copyright 2007 Prentice Hall,Ch 6 -27,SPACE Matrix,Two Ext

16、ernal Dimensions,Environmental Stability (ES) Industry Strength (IS),Copyright 2007 Prentice Hall,Ch 6 -28,SPACE Factors,Copyright 2007 Prentice Hall,Ch 6 -29,SPACE Factors,Copyright 2007 Prentice Hall,Ch 6 -30,Steps to Developing a SPACE Matrix,Select a set of variables to define FS, CA, ES, & IS A

17、ssign a numerical value: From +1 to +6 to each FS & IS dimension From -1 to -6 to each ES & CA dimension Compute an average score for each FS, CA, ES, & IS,Copyright 2007 Prentice Hall,Ch 6 -31,Steps to Developing a SPACE Matrix,Plot the average score on the appropriate axis Add the two scores on th

18、e x-axis and plot the point. Add the two scores on the y-axis and plot the point. Plot the intersection of the new xy point Draw a directional vector from the origin through the new intersection point.,Copyright 2007 Prentice Hall,Ch 6 -32,SPACE Matrix,FS,+6,+1,+5,+4,+3,+2,-6,-5,-4,-3,-2,-1,-6,-5,-4

19、,-3,-2,-1,+1,+2,+3,+4,+5,+6,ES,CA,IS,Conservative,Aggressive,Defensive,Competitive,Copyright 2007 Prentice Hall,Ch 6 -33,Strategy-Formulation Analytical Framework,SWOT Matrix,SPACE Matrix,BCG Matrix,IE Matrix,Grand Strategy Matrix,Stage 2:The Matching Stage,Copyright 2007 Prentice Hall,Ch 6 -34,BCG

20、Matrix,Boston Consulting Group Matrix,Enhances multi-divisional firm in formulating strategies Autonomous divisions = business portfolio Divisions may compete in different industries Focus on market-share position & industry growth rate,Copyright 2007 Prentice Hall,Ch 6 -35,BCG Matrix,Relative Marke

21、t Share Position,Ratio of a divisions own market share in an industry to the market share held by the largest rival firm in that industry,Copyright 2007 Prentice Hall,Ch 6 -36,BCG Matrix,Relative Market Share Position,High 1.0,Medium .50,Low 0.0,Industry Sales Growth Rate,High +20,Low -20,Medium 0,C

22、opyright 2007 Prentice Hall,Ch 6 -37,BCG Matrix,Question Marks,Low relative market share compete in high-growth industry Cash needs are high Case generation is low Decision to strengthen (intensive strategies) or divest,Copyright 2007 Prentice Hall,Ch 6 -38,BCG Matrix,Stars,High relative market shar

23、e and high growth rate Best long-run opportunities for growth & profitability Substantial investment to maintain or strengthen dominant position Integration strategies, intensive strategies, joint ventures,Copyright 2007 Prentice Hall,Ch 6 -39,BCG Matrix,Cash Cows,High relative market share, compete

24、s in low-growth industry Generate cash in excess of their needs Milked for other purposes Maintain strong position as long as possible Product development, concentric diversification If weakensretrenchment or divestiture,Copyright 2007 Prentice Hall,Ch 6 -40,BCG Matrix,Dogs,Low relative market share

25、 & compete in slow or no market growth Weak internal & external position Liquidation, divestiture, retrenchment,Copyright 2007 Prentice Hall,Ch 6 -41,Strategy-Formulation Analytical Framework,SWOT Matrix,SPACE Matrix,BCG Matrix,IE Matrix,Grand Strategy Matrix,Stage 2:The Matching Stage,Copyright 200

26、7 Prentice Hall,Ch 6 -42,The Internal-External Matrix,Positions an organizations various divisions in a nine-cell display Similar to BCG Matrix except the IE Matrix: Requires more information about the divisions Strategic implications of each matrix are different,Copyright 2007 Prentice Hall,Ch 6 -4

27、3,Copyright 2007 Prentice Hall,Ch 6 -44,IE Matrix,Based on two key dimensions The IFE total weighted scores on the x-axis The EFE total weighted scores on the y-axis Divided into three major regions Grow and build Cells I, II, or IV Hold and maintain Cells III, V, or VII Harvest or divest Cells VI,

28、VIII, or IX,Copyright 2007 Prentice Hall,Ch 6 -45,Copyright 2007 Prentice Hall,Ch 6 -46,Strategy-Formulation Analytical Framework,SPACE Matrix,BCG Matrix,IE Matrix,Stage 2:The Matching Stage,SWOT Matrix,Grand Strategy Matrix,Copyright 2007 Prentice Hall,Ch 6 -47,Grand Strategy Matrix,Tool for formul

29、ating alternative strategies Based on two dimensions Competitive position Market growth,Copyright 2007 Prentice Hall,Ch 6 -48,Quadrant IV Concentric diversification Horizontal diversification Conglomerate diversification Joint ventures,Quadrant III Retrenchment Concentric diversification Horizontal

30、diversification Conglomerate diversification Liquidation,Quadrant I Market development Market penetration Product development Forward integration Backward integration Horizontal integration Concentric diversification,Quadrant II Market development Market penetration Product development Horizontal in

31、tegration Divestiture Liquidation,RAPID MARKET GROWTH,SLOW MARKET GROWTH,WEAK COMPETITIVE POSITION,STRONG COMPETITIVE POSITION,Copyright 2007 Prentice Hall,Ch 6 -49,Grand Strategy Matrix,Excellent strategic position Concentration on current markets/products Take risks aggressively when necessary,Qua

32、drant I,Copyright 2007 Prentice Hall,Ch 6 -50,Grand Strategy Matrix,Evaluate present approach How to improve competitiveness Rapid market growth requires intensive strategy,Quadrant II,Copyright 2007 Prentice Hall,Ch 6 -51,Grand Strategy Matrix,Compete in slow-growth industries Weak competitive posi

33、tion Drastic changes quickly Cost & asset reduction (retrenchment),Quadrant III,Copyright 2007 Prentice Hall,Ch 6 -52,Grand Strategy Matrix,Strong competitive position Slow-growth industry Diversification to more promising growth areas,Quadrant IV,Copyright 2007 Prentice Hall,Ch 6 -53,Strategy-Formu

34、lation Analytical Framework,Stage 3:The Decision Stage,Quantitative StrategicPlanning Matrix(QSPM),Copyright 2007 Prentice Hall,Ch 6 -54,QSPM,Technique designed to determine the relative attractiveness of feasible alternative actions,Quantitative Strategic Planning Matrix,Copyright 2007 Prentice Hal

35、l,Ch 6 -55,QSPM,Strategic Alternatives,Copyright 2007 Prentice Hall,Ch 6 -56,Steps to Develop a QSPM,Make a list of the firms key external opportunities/threats and internal strengths/weaknesses in the left column Assign weights to each key external and internal factor Examine the Stage 2 (matching)

36、 matrices, and identify alternative strategies that the organization should consider implementing,Copyright 2007 Prentice Hall,Ch 6 -57,Steps to Develop a QSPM,Determine the Attractiveness Scores Compare the Total Attractiveness Scores Compute the Sum Total Attractiveness Score,Copyright 2007 Prenti

37、ce Hall,Ch 6 -58,建立QSPM的六步骤,在QSPM的左栏列出公司的关键外部机会与威胁、内部优势与弱点 给每个外部及内部关键因素赋予权重。 考察匹配阶段各矩阵并确认企业可考虑实施的备选战略。 确定吸引力分数(AS): Attractiveness Scores 计算吸引力总分(TAS): Total Attractiveness Scores 计算吸引力总分和(STAS)。,Copyright 2007 Prentice Hall,Ch 6 -59,QSPM,Requires intuitive judgments & educated assumptions Only as g

38、ood as the prerequisite inputs,Limitations,Copyright 2007 Prentice Hall,Ch 6 -60,QSPM,Sets of strategies considered simultaneously or sequentially Integration of pertinent external & internal factors in the decision making process,Advantages,Copyright 2007 Prentice Hall,Ch 6 -61,Cultural Aspects of

39、Strategy Choice,Successful strategies depend on the degree of consistency with the firms culture,Organization Culture,Copyright 2007 Prentice Hall,Ch 6 -62,Politics of Strategy Choice,Management hierarchy Career aspirations Allocation of scarce resources,Politics in Organizations,Copyright 2007 Pren

40、tice Hall,Ch 6 -63,Politics of Strategy Choice,Equifinality Satisfying Generalization Higher-order issues Political access on important issues,Political Tactics for Strategists,Copyright 2007 Prentice Hall,Ch 6 -64,Governance Issues,Control & oversight over management Adherence to legal prescription

41、s Consideration of stakeholder interests Advancement of stockholder rights,Board of Directors Roles & Responsibilities,Copyright 2007 Prentice Hall,Ch 6 -65,Corporate Governance Issues,No more than 2 directors are current or former company executives 2.No directors do business with the company 3.Aud

42、it, compensation, and nominating committees made upof outside directors 4.Each director owns a large equity stake in the company 5.At least one outside director with extensive experience 6.Fully employed directors sit on no more than 4 boards Retirees on no more than 7 7.Each director attends at les

43、t 75% of all meetings,Business Weeks “Principles of Good Governance”,Copyright 2007 Prentice Hall,Ch 6 -66,Corporate Governance Issues,8.Board meets regularly without management present 9.Audit committee meets at least four times a year 10.Board is frugal on executive pay, diligent in CEO succession, and prompt to act when trouble arises 11.