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CONFIDENTIALBUStrategicPlanBasicsTrainingmaterials8June2001Thisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinsey&Company.ThismaterialwasusedbyMcKinsey&Companyduringanoralpresentation;itisnotacompleterecordofthediscussion.JimAyala–PHOMelissaGil–PHOReginaManzano–PHOSureshMustapha–PHOSteveShaw–HKOShellyYeh–PHOChoon-GinTan–SIO1DESCRIPTIONOFMATERIALS•ThisdocumentwasdevelopedasatrainingpresentationforthenewlyappointedBusinessUnitCEOsofanAsianFamily-ownedconglomerate.•ThepurposeofthisdocumentistoguidenewCEOsthroughthebasicelementsofdevelopingaBU-levelstrategicplan.•Thispresentationiscomplementedbyacompaniondocumentthe“BUStrategicPlanTemplateBook”whichprovidescompletenessandconsistencyofBUstrategicplansubmissions.ThesetemplatesarenotintendedtoreplaceorconstrainBUstrategicthinkingandshouldbeadaptedtoreflectaparticularBU’ssectoralcontextasrequired2WHATISABUSTRATEGY?Astrongbusinessconceptthatdrivesanintegratedsetofactionsthatcreatesvalueby:•Creatingproducts/serviceswhosevalueexceedsthecostofprovidingthem•Capturingvaluefromcompetitors,customers,distributors,suppliers,andproducersofsubstituteproductsandservices3RATIONALEFORPROPOSEDDEFINITIONAstrongbusinessconceptthatdrivesanintegratedsetofactionsthatcreatesvalueby:•Creatingproducts/serviceswhosevalueexceedsthecostofprovidingthem•Capturingvaluefromcompetitors,customers,distributors,suppliers,andproducersofsubstituteproductsandservices1.Recognizedualroleofcreatingandcapturingvalueinallelementsofbusinesssystem2.Forceschoices6.Competitive7.Externallyoriented,customerdriven4.Recognizesimportanceofcostascompetitivetool5.Considerstradeoffsbetweenbenefitprovidedtocustomersandcoststheyincur3.Givesconsiderationtoallelementsofthebusinesssystem4COMMONELEMENTSOFREAL-LIFESTRATEGIESVisionWhere?StrongbusinessconceptconsistingofHowtocompete?Integratedsetofactions•Developedhighqualitystandardsandexcellentoperationalprocedures•Focusondevelopingcriticalmassofstoresandestablishingmarketdominance•McDonald’sexperiencedphenomenalsuccessinglobalizationdueto:–Successfullyscreeningfranchiseesandadedicationtointenseinitialandongoingtraining–Consistentdeliveryofhigh-qualityfoodandservicearoundtheworld–Hugeeconomiesofscaleandpowerfulsupplierleverage–Capitalizedon“American”appealofMcDonald’s–Successintailoringassortmentmixtomeetlocalneeds•“Wewanttobetheworld’sbestquick-servicerestaurantexperience”•Wewillofferidenticalexcellentqualityacrosstheworld•Targetingabroadsetoftheurbanpopulation,increasinglyofferingabundledproduct(i.e.,meals)atalowpriceinmajorcitiesaroundtheworldMcDONALD’SEXAMPLE5BUSTRATEGYREVIEWINTERACTIONSHighlyinteractivedebatedrivenbyfact-basedunderstandingofenvironmentandinternalcapabilitiesHowdoyouexpectCompetitorAtoreact?Howsustainableisyourbusinessmodel?Canitbeeasilyduplicated?Howrobustareyourcontingencyplans?Howquicklycanyoushiftyourbusinessemphasistocaptureindustryopportunities?BU-CEO6BUSTRATEGICPLANDEVELOPMENTIndustrydynamicsandimplicationsEnvironmentalandinternalassessmentCompetitiveassessmentInternalassessment•Whatarethemajorchangesinindustrydynamicsandresultingopportunitiesandrisks?•Whatareyourcompetitivestrengthsandweaknesses?•Howdoesyourcurrentbusinessemphasisfitwithindustryopportunityandcompetitivelandscape?StrategyarticulationStrategicdefinitionandimplicationsStrategicinitiativesFinancialprojections•WhatstrategywillyourBUpursueoverthenext3years?•Whatwillbetheimpactofmajorstrategicinitiatives?•Whataretheexpectedfinancialreturnsofyourstrategy?++++Risk/contingen-cies&strategicalternatives•Whatstrategicalternativeshaveyouconsidered?+7INDUSTRYDYNAMICSANDIMPLICATIONS•Economicsofdemand–Bysegment–Substitutes,abilitytodifferentiate–Volatility,cyclicality•Economicsofsupply–Producerconcentrationanddiversity–Importcompetition–Capacityutilization–Entry/exitbarriers–Coststructure(fixedandvariable)•Industrychaineconomics–CustomerandsupplierbargainingpowerWhatarethemajorchangesinindustrydynamicsandtheresultingopportunitiesandrisks?Howisindustrystructurechangingwithrespecttodemand,supply,andindustrychaineconomics?Whataretheresultingopportunitiesandrisks?Whatistheexpectedcompetitorconduct?Whataretheresultingopportunitiesandrisks?Whatarethepresentandfutureexternalfactorsthatcouldpresentnewopportunitiesandrisks?•Majorindustrycompetitormoves–Marketinginitiatives–Industrycapacitychanges–M&As,divestitures–Verticalintegration/disaggregation–Alliancesandpartnerships–Costcontrolandefficiencyimprovements•Impactandlikelihoodofmajorindustrydiscontinuities–Changesinregulation/governmentpolicy–TechnologicalbreakthroughsKeyquestionSub-questionsIssuestobeconsidered**MayormaynotbeapplicabletoallBUsWhatindustryareyoucompetingin?Whatarethevarioussegmentsintheindustry?•Industrydefinition•Industrysegmentation–Definition–Sizing8SEGMENTANALYSISILLUSTRATIVEIndustryboundariesSegmentsIndustrysegments•Relativelydistinctsub-groupingswithintheindustry•Marketisrelativelysimilarwithinthesegmentbutdifferent