贝恩利润池分析

2/14/2020DarralG.ClarkeforBM4991ProfitPoolsandCoreCompetenceDarralGClarkeProfessorofManagementTheMarriottSchoolBrighamYoungUniversity2/14/2020DarralG.ClarkeforBM4992ProfitPools:AFreshLookatStrategyOritGadieshandJamesL.GilbertHarvardBusinessReviewMay-June19982/14/2020DarralG.ClarkeforBM4993THEPCINDUSTRY’SPROFITPOOLValuechainfocusAxesVertical—operatingmarginHorizontal—shareofindustrydata40%30201000100%shareofindustryrevenuemicroprocessorsothercomponentspersonalcomputerssoftwareperipheralsservicesThevaluechainforthePCindustryincludessixkeyactivities;theprofitabilityoftheactivitiesvarieswidely.Manufacturerscompeteinthelargestbutleast-profitablesegmentofthechain.2/14/2020DarralG.ClarkeforBM4994TheProfitPoolLensTheprofitpoolisthetotalprofitearnedinanindustryatallpointsalongtheindustry’svaluechainSegmentprofitabilitymayvarybycustomergroup,productcategory,geographicmarket,ordistributionchannelProfitconcentrationmaybeverydifferentthanrevenueconcentrationShapeoftheprofitpoolreflectsthecompetitivedynamicsofabusiness•Interactionsofcompaniesandcustomers•CompetitivestrategiesofcompetitorsProductpoolsarenotstagnant2/14/2020DarralG.ClarkeforBM4995THEU.S.AUTOINDUSTRY’SPROFITPOOL100%operatingmarginsource:HarvardBusinessReview,May-June1998autorental25%1510500shareofindustryrevenueautomanufacturingnewcardealersusedcardealersautoloansautoinsuranceaftermarketparts20leasingwarrantygasolineservicerepairTheautomotiveindustryencompassesmanyvalue-chainactivities.Thewaythatprofitsandrevenuesaredistributedamongtheseactivitiesvariesgreatly.Themostprofitableareasofthecarbusinessarenottheonesthatgeneratethebiggestrevenues.2/14/2020DarralG.ClarkeforBM4996ProfitPools:CompanyExamplesCompaniesAutomakersU-HaulElevators(OTIS)HarleyDavidsonPolaroidCoreBusinessAutomanufacturingTruckRentalElevatorManufacturingMotorcyclesInstantPhotographyCamerasSourcesofHighestROIAutoleasing,insurancePackingmaterials,storageServiceAccessories(consumerproducts),leasing,service,restaurantsFilm2/14/2020DarralG.ClarkeforBM4997ManagerialImplicationsFocusongrowthandmarketsharecanleadacompanytofocusonunprofitablesegmentsofanindustryToday’sdeeprevenuerevenuepoolmaybetomorrow’sdryhole.ThegoalshouldbetofocusonprofitableopportunitiesIndustryshouldbeconsideredmorebroadlythantraditionaldefinitionAutomobileindustryincludes•Componentmanufactureandsupply•Newcarassemblyanddelivery•Newcarwarranteeandservice•Newcarfinancingandinsurance•Usedcarsalesandservice2/14/2020DarralG.ClarkeforBM4998TurbulentindustriesProfitpoolsareespeciallyimportantandusefulinindustriesundergoingderegulationand/ortechnologicalchangeSuchchangescanopennewprofitpoolopportunitiesanddrainoldonesChokepointsmaychangeorbeeliminatedOpportunitiesforeitherforwardorverticalintegrationmayemergeCurrentverticalintegrationmaybedisintermediated2/14/2020DarralG.ClarkeforBM4999CreatingandmanagingaprofitpoolProfitpoolanalysismayindicatenewopportunitiesorthreatsImperativesBeopentoanewperspectiveonyourbusinessandindustryDevelopingnewstrategymayrequireoverturningelementsofthecurrentstrategyBeopentoreevaluatetheroleplayedbycurrentcompetitorsBevigilanttoidentifypossibilitythatnewentrantsmayseektoenteryourindustrywithradicalstrategies2/14/2020DarralG.ClarkeforBM49910LookingAhead:ProfitPoolsandtheFiveForcesProfitpoolsarecomputedbymultiplyingthesizeoftherevenuebytheunitprofitmarginEssentiallyanaccountingprocess--notheoryMostvaluableinsituationsinwhichexternalconditionsareessentialstableand/orunimportant(Oftendominatedbyinternaldataalone)Thefiveforcestellsus(whichwillstudynext)theunderlyingdeterminantsthatdetermineboththerevenuesizeandtheunitprofitmarginTheprofitdriverswhichallowustoforecastthedirectionofchange2/14/2020DarralG.ClarkeforBM49911MarakonRunnersThomasA.StewartFortuneSept.28,19982/14/2020DarralG.ClarkeforBM49912MarakonAssociates’sApproachtoCorporateStrategyConsultantstomanylargecorporationsCocaCola,HP,GM,CitiCorp,etc.Clientshavereturns3.1%higherthanindustrypeergroupGoalistoincreaseshareholdervaluethroughanalysisofeconomicprofitDeepdrillinginbusinessdatatomeasurevaluecreation•Productsegments•Customersegments2/14/2020DarralG.ClarkeforBM49913HowStrategyHappensLearningwherevalueiscreatedWaterfallchartsbyproductandcustomersegmentsEvaluatingstrategyIndustryaverageprofitperunitCompany’sprofitvsindustryaverageManagingvalueCurrentstrategyChangeproductfocusChangecustomerfocus2/14/2020DarralG.ClarkeforBM49914LearningwherevalueiscreatedProductsegmentsCustomersegmentsProfit/loss($perunit)Volume(units)Volume(units)02/14/2020DarralG.ClarkeforBM49915EvaluatingStrategyCompanyprofitperunitIndustry-averageprofitperunit2/14/2020DarralG.ClarkeforBM49916ManagingforvalueCurrentstrategyChangeproductfocusChangeCustomerfocusValue2/14/2020DarralG.ClarkeforBM49917ApplicationtoourcasesRetailindustry(Wal*Mart)Softdrinkindustry(Coca-ColaandPepsiCo)Steel(Nucor)andaluminumcans(CC&S)Hitech(Intel,Cisco,andDell)Videogames(Nintendo)Webbusinesses(eBayandYahoo!)2/14/2020DarralG.ClarkeforBM49918TheCoreCompetenceof