某集團(tuán)戰(zhàn)略咨詢手冊(cè)－2英文(ppt 49頁).ppt

CONFIDENTIAL BUStrategicPlanBasics Trainingmaterials8June2001 Thisreportissolelyfortheuseofclientpersonnel Nopartofitmaybecirculated quoted orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinseyitisnotacompleterecordofthediscussion JimAyala PHOMelissaGil PHOReginaManzano PHOSureshMustapha PHOSteveShaw HKOShellyYeh PHOChoon GinTan SIO 1 DESCRIPTIONOFMATERIALS ThisdocumentwasdevelopedasatrainingpresentationforthenewlyappointedBusinessUnitCEOsofanAsianFamily ownedconglomerate ThepurposeofthisdocumentistoguidenewCEOsthroughthebasicelementsofdevelopingaBU levelstrategicplan Thispresentationiscomplementedbyacompaniondocumentthe BUStrategicPlanTemplateBook whichprovidescompletenessandconsistencyofBUstrategicplansubmissions ThesetemplatesarenotintendedtoreplaceorconstrainBUstrategicthinkingandshouldbeadaptedtoreflectaparticularBU ssectoralcontextasrequired 2 WHATISABUSTRATEGY Astrongbusinessconceptthatdrivesanintegratedsetofactionsthatcreatesvalueby Creatingproducts serviceswhosevalueexceedsthecostofprovidingthemCapturingvaluefromcompetitors customers distributors suppliers andproducersofsubstituteproductsandservices 3 RATIONALEFORPROPOSEDDEFINITION Astrongbusinessconceptthatdrivesanintegratedsetofactionsthatcreatesvalueby Creatingproducts serviceswhosevalueexceedsthecostofprovidingthemCapturingvaluefromcompetitors customers distributors suppliers andproducersofsubstituteproductsandservices 4 COMMONELEMENTSOFREAL LIFESTRATEGIES Vision Where Strongbusinessconceptconsistingof Howtocompete DevelopedhighqualitystandardsandexcellentoperationalproceduresFocusondevelopingcriticalmassofstoresandestablishingmarketdominance McDonald sexperiencedphenomenalsuccessinglobalizationdueto SuccessfullyscreeningfranchiseesandadedicationtointenseinitialandongoingtrainingConsistentdeliveryofhigh qualityfoodandservicearoundtheworldHugeeconomiesofscaleandpowerfulsupplierleverageCapitalizedon American appealofMcDonald sSuccessintailoringassortmentmixtomeetlocalneeds Wewanttobetheworld sbestquick servicerestaurantexperience Wewillofferidenticalexcellentqualityacrosstheworld Targetingabroadsetoftheurbanpopulation increasinglyofferingabundledproduct i e meals atalowpriceinmajorcitiesaroundtheworld McDONALD SEXAMPLE 5 BUSTRATEGYREVIEWINTERACTIONS Highlyinteractivedebatedrivenbyfact basedunderstandingofenvironmentandinternalcapabilities HowdoyouexpectCompetitorAtoreact Howsustainableisyourbusinessmodel Canitbeeasilyduplicated Howrobustareyourcontingencyplans Howquicklycanyoushiftyourbusinessemphasistocaptureindustryopportunities BU CEO 6 BUSTRATEGICPLANDEVELOPMENT Industrydynamicsandimplications Environmentalandinternalassessment Competitiveassessment Internalassessment Whatarethemajorchangesinindustrydynamicsandresultingopportunitiesandrisks Whatareyourcompetitivestrengthsandweaknesses Howdoesyourcurrentbusinessemphasisfitwithindustryopportunityandcompetitivelandscape Strategyarticulation Strategicdefinitionandimplications Strategicinitiatives Financialprojections WhatstrategywillyourBUpursueoverthenext3years Whatwillbetheimpactofmajorstrategicinitiatives Whataretheexpectedfinancialreturnsofyourstrategy Risk contingen cies strategicalternatives Whatstrategicalternativeshaveyouconsidered 7 INDUSTRYDYNAMICSANDIMPLICATIONS EconomicsofdemandBysegmentSubstitutes abilitytodifferentiateVolatility cyclicalityEconomicsofsupplyProducerconcentrationanddiversityImportcompetitionCapacityutilizationEntry exitbarriersCoststructure fixedandvariable IndustrychaineconomicsCustomerandsupplierbargainingpower Whatarethemajorchangesinindustrydynamicsandtheresultingopportunitiesandrisks Howisindustrystructurechangingwithrespecttodemand supply andindustrychaineconomics Whataretheresultingopportunitiesandrisks Whatistheexpectedcompetitorconduct Whataretheresultingopportunitiesandrisks Whatarethepresentandfutureexternalfactorsthatcouldpresentnewopportunitiesandrisks MajorindustrycompetitormovesMarketinginitiativesIndustrycapacitychangesM As divestituresVerticalintegration disaggregationAlliancesandpartnershipsCostcontrolandefficiencyimprovements ImpactandlikelihoodofmajorindustrydiscontinuitiesChangesinregulation governmentpolicyTechnologicalbreakthroughs Keyquestion Sub questions Issuestobeconsidered MayormaynotbeapplicabletoallBUs Whatindustryareyoucompetingin Whatarethevarioussegmentsintheindustry IndustrydefinitionIndustrysegmentationDefinitionSizing 8 SEGMENTANALYSIS ILLUSTRATIVE Industryboundaries Segments Industrysegments Relativelydistinctsub groupingswithintheindustryMarketisrelativelysimilarwithinthesegmentbutdifferentacrosssegmentsDifferentindustrydynamicsmayvaryinimportanceindifferentsegments 9 Producers Industry S TechnologybreakthroughsChangesingovernmentpolicy regulationsDomesticInternational EconomicsofdemandAvailabilityofsubstitutesDifferentiabilityofproductsRateofgrowthVolatility cyclicalityEconomicsofsupplyConcentrationofproducersImportcompetitionDiversityofproducersFixed variablecoststructureCapacityutilizationEntry exitbarriersIndustrychaineconomicsBargainingpowerofinputsuppliersBargainingpowerofcustomers MarketingPricingVolumeAdvertising promotionNewproducts R DDistributionCapacitychangeExpansion contractionEntry exitAcquisition merger divestitureVerticalintegrationForward backwardintegrationVerticaljointventuresLong termcontractsInternalefficiencyCostcontrolLogisticsProcessR DOrganizationeffectiveness FinanceProfitabilityValuecreationTechnologicalprogressEmploymentobjectives Externalshocks Feedback tructure C onduct P erformance STRUCTURE CONDUCT PERFORMANCE SCP MODEL 10 1 DeterminantsofsupplierpowerDifferentiationofinputsSwitchingcostsofsuppliersandfirmsintheindustryPresenceofsubstituteinputsSupplierconcentrationImportanceofvolumetosupplierCostrelativetototalpurchasesintheindustryImpactofinputsoncostordifferentiationThreatofforwardintegrationrelativetothreatofbackwardintegrationbyfirmsintheindustry 2 DeterminantsofbarrierstoentryEconomiesofscaleProprietaryproductdifferencesBrandidentitySwitchingcostsCapitalrequirementsAccesstodistributionAbsolutecostadvantagesProprietarylearningcurveAccesstonecessaryinputsProprietary low costproductdesignGovernmentpolicyExpectedretaliation 5 RivalrydeterminantsIndustrygrowthFixed orstorage cost valueaddedIntermittentovercapacityProductdifferencesBrandidentitySwitchingcostsConcentrationandbalanceInformationalcomplexityDiversityofcompetitorsCorporatestakesExitbarriers 3 DeterminantsofbuyingpowerBargainingleverageBuyerconcentrationvs firmconcentrationBuyervolumeBuyerswitchingcostsrelativetofirmswitchingcostsBuyerinformationAbilitytobackwardintegrateSubstituteproductsPull through 4 DeterminantsofsubstitutionthreatRelativepriceperformanceofsubstitutesSwitchingcostsBuyerpropensitytosubstitute 2 Newentrants 3 Buyers 4 Substitutes Intensityofrivalry 1 Suppliers PricesensitivityPrice totalpurchasesProductdifferencesBrandIdentityImpactonqualityperceptionBuyerprofitsDecisionmakers incentives 5 Industrycompetitors FORCESATWORK FRAMEWORK 11 Opportunities ThreatsHowaredemandandsupplyexpectedtoevolve Howdoyouexpecttheindustrychaineconomicstoevolve Whatarethepotentialmajorindustrydiscontinuities Whatcompetitoractionsdoyouexpect YOURBU SWOTANALYSIS CONVERTOPPORTUNITIES BUILDONSTRENGTHS NEUTRALIZETHREATS ADDRESSWEAK NESSES Strengths WeaknessesWhatareyourBU sassets competenciesthatsolidifyyourcompetitiveposition WhatareyourBU sassets competenciesthatweakenyourcompetitiveposition Canbeusedasathoughtstarterforcompetitiveanalysisandinternalassessment 12 SCPAPPLIEDTOLEXMARK Rapidlychangingtechnology e g birthofportable handheld wirelesscomputersRapidlychangingcustomerpreferencesPossibilityofapaperlesssocietygivenincreasingenvironmentalconcernandriseoftheinternet EconomicsofdemandInkjetprintersreplacinglaserinnon networkenvironmentHighpricesensitivity minimalopportunityformajorproductdifferentiationGrowthoflaserandinkjetprintermarketsstablebutdependentonPCsalesanddegreeofreplacementEconomicsofsupplyHPholdslion sshareofprintermarketIndustrycapacityexceedsmarketdemandPresenceofcounterfeitandrecycledproductsupplyespeciallyinconsumablesHighexitbarriersduetoassetintensityIndustrychaineconomicsBargainingpowerofsupplierslowBargainingpowerofdistributorshighLittleintegration forwardorbackward MarketingManufacturerscompetingmainlyonpriceRetaildominantdistributionchannelAggressivedevelopmentandreleaseofnewproductsMovestoincreasebrandawarenessviamarketingcampaignsCreativefinancingpackagesInternalefficiencyRelentlessdrivetolowcostmanufacturingContinuouseffortstocreatemorespecializedfeaturesand orfunctionsOthersEntryofPCandperipheralsplayersClampdownoncounterfeitandrecycledconsumablessuppliers FinancePricecompetitiononprinterhardwaredrivesmarginsdownandforcesplayerstorelyonprofitsfromconsumableproducts goodmargins andhighvolumecaptureonhardware S Externalshocks Feedback tructure C onduct P erformance 13 RESULTINGOPPORTUNITIESANDRISKSFORLEXMARK Opportunities Risks Becomethefirstmoverinprintersforportable handheld wirelesscomputermarketGrowdemandbaseviauseofcreative non traditionalchannelsandalternativefinancing paymentmethodsGrowdemandforconsumablesviaprogramstoincreaseprintingusageBethesupplierofprintersforPC peripheralplayershopingtotheexpandintoprintermarketExpandleadershipincorporate institutionalaccounts IncreasingdemandforcustomizationmayincreasecostsanderodemarginsAnydeclineinPCsalesmaysignificantlybringdownrevenuesMarketsharemaybeerodedascompetitionintensifiesBranding marketingpushfromestablishedplayersPricingpushfromlow costmanufacturersMarginsatriskifprintingusagedeclineswithpushforpaperlesssociety NOTEXHAUSTIVE 14 COMPETITIVEASSESSMENT Privilegedassetsthatcreatecompetitiveadvantage e g physicalassets location space distribution salesnetworkDistinctiveskills competenciesthatcreatecompetitiveadvantage e g innovation talentdevelopment Whatareyourcompetitivestrengthsandweaknesses Whatarethecapabilitiesrequiredtosucceedinthisindustry Howdoyoucompareagainstthesenecessarycapabilities Strengthsandweaknessesofyourcompetitivepositionvs necessarycapabilitiesBenchmarkperformanceagainsttheindustry srelevantkeyperformanceindicators KPIs withmarginandmarketshareastherequiredminimum Keyquestion Sub questions Issuestobeconsidered KPIsareahandfulofleversthatdrivethevalueoftheindustry business 15 CAPABILITYPLATFORM ASSESSMENTOFSOURCESOFCOMPETITIVEADVANTAGE 1 2 PhysicalassetLocation space Distribution salesnetworkBrand reputationPatentRelationshipwith license allocator BHP slow costminesTelecomm mediacompanywithrightsradiospectrumAvon srepresentativesCoca ColaPharmaceuticalcompanywitha wonderdrug Favorednation statuswithakeyministerinliberalizingeconomy InnovationCross functionalcoordinationMarketpositioningCost efficiencymanagementTalentdevelopment 3MwithnewproductsMcDonald swithQSC VJ JwithbrandedconsumerhealthproductsEmersonElectric sBestCostProducerprogramP Gbrandmanagementprogram Privilegedassets Distinctivecompetencies Necessarycapabilitiesinordertosucceedintheindustry Example 16 Step1 Ensurethatthesearethecapabilitiesrequiredtosucceedintheindustry Usethislistasathoughtstarter addanddeleteasyouseeappropriate BUOverall Segments A B C Step2 Assessyouroverallpositionrelativetothecapabilitiesrequiredtosucceedintheindustry Also determineifthesecapabilitiesarerelevanttothesegmentsyouserve PhysicalassetLocation space Distribution salesnetworkBrand reputationPatentRelationshipwith license allocator InnovationCross functionalcoordinationMarketpositioningCost efficiencymanagementTalentdevelopment Privilegedassets Distinctivecompetencies Necessarycapabilitiesinordertosucceedintheindustry CAPABILITYPLATFORM ASSESSMENTOFSOURCESOFCOMPETITIVEADVANTAGEBYSEGMENT 2 2 ILLUSTRATIVE ExtremelyrelevantSomewhatrelevantIrrelevant 17 BUOverall Competitors A B C Step3 Comparethestrengthsandweaknessesofyourcompetitivepositionvs thenecessaryskills PhysicalassetLocation space Distribution salesnetworkBrand reputationPatentRelationshipwith license allocator InnovationCross functionalcoordinationMarketpositioningCost efficiencymanagementTalentdevelopment Privilegedassets Distinctivecompetencies Necessarycapabilitiesinordertosucceedintheindustry COMPETITORCAPABILITYCOMPARISON ILLUSTRATIVE 18 Necessarycapabili tiesinordertosucceedintheindustry Privilegedassets Distinctivecompeten cies CAPABILITYPLATFORMAPPLIEDTOLEXMARK Distribution salesnetwork Brand reputation Innovation Cross functionalcoordination Marketpositioning Cost efficiencymanagement Laser Inkjet Salesnetwork Distribution Reputation Brand Segments ExtremelyrelevantSomewhatrelevantIrrelevant 19 Necessarycapabilitiesinordertosucceedintheindustry Privilegedassets Distinctivecompetencies COMPETITORCAPABILITYCOMPARISONAPPLIEDTOLEXMARK Distribution salesnetwork Brand reputation Innovation Cost efficiencymanagement Lexmark HP Epson Formedownaccountteams customerrelationshipsinheritedfromIBM Well establishedretaildistribution dealernetwork Knownforqualityspecializedproductsandnetworksoftware Best knownbrand Knownforproductquality Quicktomarketwithnewtechnologies Awardedleaderinimplementa tionofnecessaryproductfeatures Leaderinprintquality Cross functionalcoordinationdeliverssuperiorproductdesignandcustomerservice Marketpositioning Cross functionalcoordination Ownershipoftechnologyallowslow cost in housemanufactureofcriticalcomponents 20 BENCHMARKPERFORMANCEAGAINSTRELEVANTINDUSTRYKPIs KPIs examples FinancialindicatorsMarginNetincomeROCEOperatingindicatorsAdvertisingeffectivenessUtilizationrateStrategicindicatorsMarketsharePercentofrevenuefromnewproductsWorkingcapitaltrendExternalindicatorsMarketpricesofrawmaterials BU CompetitorA CompetitorB CompetitorC 21 KPIs FinancialindicatorsOperatingincomeMarginsROCEOperatingindicatorsDistributionreachCycletimeStrategicindicatorsMarketshareBrandawareness Lexmark HP Epson BENCHMARKINGAPPLIEDTOLEXMARK StrongMediumWeak Includesotherinformationequipment e g scanners projectors 457million12 29 1 573million 9 11 583million 6 N A 12 47 17 22 INTERNALASSESSMENT RelevantBUsegments basedoncustomer product geography distributionchannel Operatingcontributionestimatesforeachsegment Howdoesyourcurrentbusinessemphasisfitwiththeindustryopportunitiesandthecompetitivelandscape Whichsegmentsofthebusinessareprovidingthehighestreturns WhathavebeentheperformancetrendsalongmajorBUKPIs KPIperformancetrendsoverthelast3 5years e g returnoncapitalemployed ROCE operatingincome margins capitalemployedAssessmentofunderlyingtrenddriversExpectedevolution Keyquestion Sub questions Issuestobeconsidered Whichintangibleassetscouldbenear termsourcesofvalue Identificationofin houseintellectualproperty talent networks brand imageConversionintosourcesofvalue Basedonlatestavailable 1 2yearhistoricalfinancialstatements ROCE Operatingincomex 1 taxrate Allinterestbearingdebt shortandlong minorityinterest stockholders equity 23 SEGMENTANALYSIS RevenueGrossprofitOperatingprofitAssetsemployedPeopleemployed OperatingprofitmarginGrossprofitmarginROCE Step1 IdentifytherelevantsegmentsStep2 Provideasegmentanalysisbasedonthefollowingminimumfinancialmetrics revenue grossprofitandmargin operatingprofitandmarginStep3 Totheextentassetsandpeoplecanbedisaggregatedbysegment deploymentofassetsagainstreturnscanbeanalyzed PhP oftotal Segment1 PhP oftotal Segment2 PhP oftotal Segment3 PhP oftotal Segment4 PhP oftotal Total Segment1 Segment2 Segment3 Segment4 Total 24 SEGMENTANALYSISAPPLIEDTOLEXMARK Printersandsuppliers Otherofficeimaging Keyboardsandother Restofworld Europe US ProductPercent GeographyPercentoftotalrevenues 1995 100 USD3 807million 25 TRENDANALYSIS RETURNONCAPITALEMPLOYED ROCE TheROCEtreecanbedisaggregatedtoshowtheotherrelevantKPIsofaBU ROCEPercent Operatingincomex 1 taxrate PhPmillion CapitalemployedPhPmillion RevenuePhPmillion OperatingmarginPercent x 1 taxrate Percent x MarketsharePercent IndustrysalesPhPmillion x ILLUSTRATIVE 26 TRENDANALYSIS CASH ThecashflowtreecanbedisaggregatedtoshowtheotherrelevantKPIsofaBU CashflowgeneratedPhPmillion OperatingcashflowPhPmillion InvestingcashflowPhPmillion NetincomePhPmillion Non cashexpensesPhPmillion ChangeinworkingcapitalPhPmillion FinancingcashflowPhPmillion NOTEXHAUSTIVE 27 TRENDANALYSISAPPLIEDTOLEXMARK ROCEPercent Operatingincomex 1 taxrate USDM CapitalemployedUSDM RevenueUSDM OperatingmarginPercent x 1 taxrate Percent x MarketsharePercent IndustrysalesUSDM x NOTEXHAUSTIVE 28 INTANGIBLEASSETCHECKLIST Intangibleassets Waystoextractnear termvalue TalentHighlymotivatedandcompetentworkforceleveragingspecificskillsetstoGenerategrowthImprove increasecompanyintangibles IntellectualpropertyPatentsgeneratinglicensingfeesUnderstandingofcustomerbehaviorRiskmanagementSoftware NetworkInterconnectedwebsofpartiesNon exclusiveAdditionalmemberlowerscosts increasesbenefits Brand imageInherentimageorbrandbuiltuponexcellentserviceandproductofferingsLowersearchcostsforcustomers 29 TechnologyforproductsNetworkingsoftware INTANGIBLEASSETASSESSMENTAPPLIEDTOLEXMARK Intangibleassets Waystoextractnear termvalue CustomizetosuitindustrysegmentscurrentlynotservedDeveloprelatedproductsthatmayusenetworkingsoftwarein houseorviapartnership Salesforceengineers Developthebestproducttosuitidentifiedcustomerneeds Talent Relationshipwithsuppliers Goodworkingrelationshipallowsbettercaptureofproductionefficienciesthatimproveproductcycletimeandcostefficiency Network Intellectualproperty NOTEXHAUSTIVE 30 STRATEGYARTICULATION Whereareyougoingtocompetealongthesedimensionsandwhy TargetmarketDistributionchannelsProduct breadthanddepth Geographicscope TargetcustomerdefinitionBenefitsthatyouwillofferthecustomersProductpricingPositionagainstcompetitionvis visthebenefitsprovidedandthepricecharged Deliveryandcommunicationofcustomervalueproposition valuedeliverysystem Competitiveadvantageindeliveringthesebenefitstothecustomer Wheretocompete Whatisyourcustomervaluepropositionforthedifferentsegmentsyouaregoingtoserve Whatisyourbusinessmodel WhatstrategywillyourBUpursueoverthenext3years Keyquestion Sub questions Issuestobeconsidered Industryattractiveness