公司策略和发展(1)

1CorporateStrategyandDevelopmentLecture807/17/20012MainIssuesIngeneral,corporatestrategybecomesrelevantand/orsalientinamultibusinesscompany.Illustrationofsinglebusinessvs.multiplebusinesses,i.e.businessvaluechainandportfolioplanningCorporatestrategiesVerticalintegrationvs.outsourcing/verticalcooperationDiversificationInternalventuringAcquisitionJointventureStrategicalliancesRestructuringandTurnaround3ConcentrationonaSingleBusinessAdvantagesOperationalfocusonasinglefamiliarindustryormarket.Currentresourcesandcapabilitiesaddvalue.Growingwiththemarketbringscompetitiveadvantage.DisadvantagesNodiversificationofmarketrisks.Verticalintegrationmayberequiredtocreatevalueandestablishcompetitiveadvantage.Opportunitiestocreatevalueandmakeaprofitmaybemissed.4ValueChainonasinglebusiness(Example:PersonalComputerIndustryEnduserDistributionAssemblyIntermediatemanufacturerRawmaterialsExamples:DowChemicalUnionCarbideKyoceraExamples:IntelSeagateMicronExamples:AppleCompaqDellExamples:ComputerWorldOfficeMax5CorporatePortfolioPerspectiveonMultibusinesscompaniesBostonConsultingGroup(BCG)matrix:IdentifyingtheStrategicBusinessUnits(SBUs)bybusinessareaorproductmarketAssessingeachSBU’sprospects(usingrelativemarketshareandindustrygrowthrate)relativetootherSBUsintheportfolio.DevelopingstrategicobjectivesforeachSBUMcKinsey/GEmatrix6TheBCGMatrixSource:Perspectives,No.66,“TheProductPortfolio.”AdaptedbypermissionfromTheBostonConsultingGroup,Inc.,1970.7TheBCGMatrixStarsHighrelativemarketsharesinfastgrowingindustries.QuestionmarksLowrelativemarketsharesinfastgrowingindustries.CashcowsHighrelativemarketsharesinlow-growthindustries.DogsLowrelativemarketsharesinlow-growthindustries.8TheStrategicImplicationsoftheBCGMatrixStarsAggressiveinvestmentstosupportcontinuedgrowthandconsolidatecompetitivepositionoffirms.QuestionmarksSelectiveinvestments;divestitureforweakfirmsorthosewithuncertainprospectsandlackofstrategicfit.CashcowsInvestmentssufficienttomaintaincompetitiveposition.Cashsurplusesusedindevelopingandnurturingstarsandselectedquestionmarkfirms.DogsDivestiture,harvesting,orliquidationandindustryexit.9TheMcKinsey/GEMatrix10LimitationsonPortfolioPlanningFlawsinportfolioplanning:TheBCGmodelissimplistic;considersonlytwocompetitiveenvironmentfactors–relativemarketshareandindustrygrowthrate.Highrelativemarketshareisnoguaranteeofacostsavingsorcompetitiveadvantage.Lowrelativemarketshareisnotalwaysanindicatorofcompetitivefailureorlackofprofitability.MultifactormodelssuchasMcKinsey/GEmatrixarebetterthoughimperfect.11VerticalIntegrationforasinglebusinessIntegrationbackwardintosupplierfunctionsAssuresconstantsupplyofinputs.Protectsagainstpriceincreases.IntegrationforwardintodistributorfunctionsAssuresproperdisposalofoutputs.Capturesadditionalprofitsbeyondactivitycosts.Integrationchoiceisthatofwhichvalue-addingactivitiestocompeteinandwhicharebettersuitedforotherstocarryout.12FullandTaperIntegrationFullIntegrationTaperIntegration13CreatingValueThroughVerticalIntegrationAdvantagesofaverticalintegrationstrategy:Buildsentrybarrierstonewcompetitorsbydenyingtheminputsandcustomers.Facilitatesinvestmentinefficiency-enhancingassetsthatsolveinternalmutualdependenceproblems.Protectsproductqualitythroughcontrolofinputqualityanddistributionandserviceofoutputs.Improvesinternalscheduling(e.g.,JITinventorysystems)responsestochangesindemand.14CreatingValueThroughVerticalIntegrationDisadvantagesofverticalintegrationCostdisadvantagesofinternalsupplypurchasing.Remainingtiedtoobsolescenttechnology.Aligninginputandoutputcapacitieswithuncertaintyinmarketdemandisdifficultforintegratedcompanies.15BureaucraticCostsandtheLimitsofVerticalIntegrationThecostsofrunninganorganizationrisewithintegrationdueto:Thelackofanincentiveforinternalsupplierstoreducetheiroperatingcosts.Thelackofstrategicflexibilityintimesofchangingtechnologyoruncertaindemand.Bureaucraticcostsreducethevalueofverticalintegration.16AlternativestoVerticalIntegration:CooperativeRelationshipsandStrategicOutsourcingShort-termcontractsandcompetitivebiddingStrongcompetitorsattempttocontrolsuppliercostswithminimal-lengthcontracts.Poortreatmentofsuppliersraisescompetitorinputcosts.Strategicalliancesandlong-termcontractingLong-termcontractsfostercooperativerelationships.Alliancesreducetheneedforverticalintegration.17BuildingLong-TermCooperativeRelationshipsHostagetakingBothpartiesarrangetobecomemutuallydependentoneachother,fosteringacooperativerelationship.CrediblecommitmentsAbelievablecommitmenttosupportthelong-termrelationship.Maintainingmarketdisciplinerequires:Periodicrenegotiationofthecontractualrelationship.Developingaparallelsourcingpolicywithtwosuppliersforcriticalinputs.18StrategicOutsourcingandtheVirtualCorporationOutsourcingAllowingsubcontractorstoperformvaluecreationactivities.OutsourcingadvantagesEfficientsubcontractorsreduceoverallcosts.Betterproductdifferentiation.Allowsfortheconcentrationofavailableresources.Firmbecomesmoreflexible