战略分析工具分析方法-rosrms2

Author:GiseleGarrawayROS/RMSMarch1998ROS/RMSBOS2Agenda•ROS/RMSoverview•Applications•ROS/RMSsteps•Clientexamples–wirelessinfrastructure–drugretailing•Challenges•KeytakeawaysROS/RMSBOS3Agenda•ROS/RMSoverview•Applications•ROS/RMSsteps•Clientexamples–wirelessinfrastructure–drugretailing•Challenges•KeytakeawaysROS/RMSBOS4ROS/RMSGraphROS/RMSisadiagnostictoolusedtocompareabusinessunit’sactualprofitabilitytoitspotentialprofitability.0%5%10%15%20%25%30%0.10.20.5125DunsterEliotCurrierCabotProfitability$150MMRevenueNormativeband(Predictedpotentialprofitability)RelativeMarketShareROS/RMSBOS5ROS/RMSComponentsWhatismeasured:Howitismeasured?Scale:TherearethreemaincomponentsofanROS/RMSgraph:profitability,relativemarketshareandthenormativeband.*ThistoolistypicallycalledROS/RMSsinceROSisthemostcommonprofitabilitymeasureused**AllowsforeasyviewingofadoublinginrelativemarketshareProfitability(y-axis)Currentprofitability–returnoncapitalemployed–returnonequity–returnonassets–returnonsales*LinearRMS(x-axis)AccumulatedexperienceandstrategicpositionRelativemarketshare(RMS)Logarithmic**NormativebandRangeofpredictedprofitabilityPlusandminusonestandarddeviationfromregressionline-------ROS/RMSBOS6ROS/RMSRelationshipCompanieswithhigherrelativemarketsharetendtohavemoreaccumulatedexperience.Higheraccumulatedexperiencegivesthepotentialforlowercostsandhigherprofitability.HigheraccumulatedexperienceispositivelycorrelatedwithRMSHigheraccumulatedexperienceprovidesanopportunityforlowercostsandhigherprofitsRMSisaproxyforaccumulatedexperience.RMSispositivelycorrelatedwithprofitabilityAccumulatedExperienceRMSRMSProfitabilityAccumulatedExperienceCostperunitROS/RMSBOS7ImportanceofMarketShareSource:PIMS(Datafrom1970tothepresentof3,200businesses-66%manufacturing,20%consumerbusinesses,14%services)Under10%10-20%20-30%30-40%Over40%9.0%14.0%18.0%23.0%29.0%0%5%10%15%20%25%30%Pre-taxReturnonInvestmentMarketShareUsingrelativemarketshareasapredictorofprofitabilityissupportedbyempiricalevidence.ThePIMSdatabasedemonstratesthat,onaverage,acrossindustries,companieswithgreatermarketsharehavehigherprofitability.ROS/RMSBOS8Agenda•ROS/RMSoverview•Applications•ROS/RMSsteps•Clientexamples–wirelessinfrastructure–drugretailing•Challenges•KeytakeawaysROS/RMSBOS9ApplicationsBainhasusedROS/RMSeffectivelyformanyclients.ExamplesofBainworkare:Computers&OfficeEquipmentElectric&PowerEquipmentSituation:Result:AmajorPCmanufacturerrecentlysufferedsignificantoperatinglossesandwasexperiencingseverecashflowproblemsAnelectric&powerequipmentcompanywasevaluatingamanufacturerofdiscretesemiconductorsforpurchase.Theclientwasconcernedaboutindustrycyclicalityandwhetherthetarget’sprofitmarginswereunsustainablyhighBainusedROS/RMSanalysistoexaminethePCindustryandfoundthatmovingtheclientintothenormativebandthroughoperationalimprovementswouldresultina$174MMprofitbeforetaximprovementRMS/ROSanalysisrevealedthatthetarget’smarginsreflecteditsmarketsharepositionandaccumulatedexperienceandwerethereforesustainable;thetarget’shighRMShelpeddriveEBITmarginsinexcessof20%ROS/RMSBOS10Agenda•ROS/RMSoverview•Applications•ROS/RMSsteps•Clientexamples–wirelessinfrastructure–drugretailing•Challenges•KeytakeawaysROS/RMSBOS11ROS/RMSStepsTherearefivebasicstepsinvolvedinROS/RMSanalysis:DefinethebusinessCalculateprofitabilityCalculaterelativemarketsharesDrawnormativebandDetermineactionimplicationsKeySuccessFactors•Determinetheeconomicboundariesofthebusiness•Identifyrelevantcompetitors•Achievecomparabilityacrosscompetitors•Includeanysharedexperience•Ifbusinessislocalorregional,weightmarketshares•Calculatethenormativebandusingregressionanalysis•DetermineifstrategicoroperationalimprovementsarerequiredROS/RMSBOS12ROS/RMSStepsDefinethebusinessCalculateprofitabilityCalculaterelativemarketsharesDrawnormativebandDetermineactionimplications•Determinetheeconomicboundariesofthebusiness•IdentifyrelevantcompetitorsKeySuccessFactorsROS/RMSBOS13DefiningtheBusinessEffectiveROS/RMSanalysisdependsoncorrectlydefiningtheeconomicboundariesofabusiness.Costsharingandcustomersharingaretheprimarydeterminantsofbusinessdefinition.HighCostsharingLowLowHighCustomersharingOnebusiness(chargecardsandcreditcards)Onebusinesswithpotentialfordifferentiationornicheposition(CrosspensandBICpens)Separatebusinesswithpotentialforcostleadership(oilandrefineryby-products)Separatebusinesses(beeranddistilledspirits)Separatebusinesseswithpotentialforbundling(touringqualitymicrophonesandspeakers)Onebusinesswithpotentialforsubstitution(milkcartonsandglassmilkbottles)ROS/RMSBOS14CorrectMarketShareMeasure*Statisticalmarketareas0%5%10%15%20%25%30%0.10.20.5125Sam-MartCainsAcmeZ-MartOperatingreturnonassetsNationalRMS0%5%10%15%20%25%30%0.10.20.5125Sam-MartCainsAcmeZ-MartOperatingreturnonassetsWeightedAverageRMSofTop50SMSAs*Determiningwhetherabusinessislocal,regional,ornationalisalsoimportant.IncorrectlydefinedbusinessNationaldiscountdepartmentstoreCorrectlydefinedbusinessRegionaldiscountdepartmentstores0.310.96R-squared:Whenbusinessdefinitioniscorrect,thereisameaningfulpredic