戰(zhàn)略管理2012課堂版課件

1、What is strategy?Whats this?- Tiger dog (half white half brown)阿彌陀佛What does this mean?We know what it is, but we dont know what it is called?We know what it is called, but defining what it is is difficult.The IBM-Lenovo Deal On Dec 7, 2004, IBMs PC division was sold to Lenovo Group.According to the

2、 acquisition agreement signed between Lenovo Group and IBM, Lenovo has paid 1.25 billion US dollars for all the PC business of IBM, including 650 million US dollars in cash and Lenovos shares valued at 600 million US dollars. After the trade, IBM will hold 18.9 percent of Lenovos shares and Lenovo w

3、ill assume about 500 million US dollars net debt of IBM. Legend to Invest in Real Estate Legend, now renamed as Lenovo, Chinas leading personal computer manufacturer, has announced that it intends to invest three billion yuan (about 363 million U.S. dollars) in the burgeoning real estate sector, as

4、part of attempts to readjust its overall business structure. The company will make the investment through its holding company which has started real estate business already in Huizhou and Shenzhen cities, in south Chinas Guangdong Province.Changhong net drops 24% amid price competition Sichuan Chang

5、hong Electric recorded a net profit of RMB88.5m in 2001. The result represents a decrease of 24% for the Chinese-based appliance manufacturer. Close to 75% of the revenue of Sichuan Changhong Electric is generated by its television sets. An 11% decrease in core revenue to RMB9.5bn was recorded for t

6、he year.Adidas China Distribution Center Opens in Suzhou On Sept 23, 2005, Adidas has opened a distribution center in China in Suzhou ProLogis Logistics Park of the Suzhou Industrial Park, east Chinas Jiangsu Province.The distribution center to be built by Adidas will have a space of 60,000 square m

7、eters. When completed, it will serve not only its factory in Suzhou, but also the whole Chinese market.Corporate StrategyBusiness StrategiesFunctional StrategiesTwo-Way InfluenceTwo-Way InfluenceCorporate-Level ManagersBusiness-Level ManagersFunctional ManagersLevels of Strategy-Making in a Diversif

8、ied CompanyAdidasHaierChangkongIBMLenovoIdentifying the Components ofa Single-Business Companys StrategyEfforts to buildcompetitiveadvantagePlanned, proactive moves to outcompete rivals Responses to changingconditionsScope ofgeographiccoverageCollaborativepartnerships andstrategic alliances R&D stra

9、tegySupply chain management strategyManufacturing strategy Humanresources strategyFinance strategyBusinessStrategyFunctional StrategiesMarketingstrategyFunctional StrategiesGame plan for a strategically-relevant function, activity, or business processDetails how key activities will be managedProvide

10、 support for business strategySpecify how functional objectives are to be achievedChapter 1 Knowledge ObjectivesStudying this chapter should provide you with the strategic management knowledge needed to:Define strategic competitiveness competitive advantage, and above-average returns.Describe the 21

11、st-century competitive landscape and explain how globalization and technological changes shape it.Use the industrial organization (I/O) model to explain how firms can earn above-average returns.Chapter 1 Knowledge Objectives (contd)Studying this chapter should provide you with the strategic manageme

12、nt knowledge needed to:Use the resource-based model to explain how firms can earn above-average returns.Describe strategic intent and strategic mission and discuss their value.Define stakeholders and describe their ability to influence organizations.Describe the work of strategic leaders.Explain the

13、 strategic management process.DefinitionsStrategic CompetitivenessWhen a firm successfully formulates and implements a value-creating strategySustainable Competitive AdvantageWhen competitors are unable to duplicate a companys value-creating strategyStrategic Management ProcessThe full set of commit

14、ments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returnsDefinitions (contd)RiskAn investors uncertainty about the economic gains or losses that will result from a particular investmentAverage ReturnsReturns equal to those an investor expec

15、ts to earn from other investments with a similar amount of riskAbove-average ReturnsReturns in excess of what an investor expects to earn from other investments with a similar amount of riskCurrent Competitive LandscapeA Perilous Business WorldInvestments required to compete on a global scale are en

16、ormousConsequences of failure are severeImportant Elements of SuccessDeveloping strategyImplementing strategyGlobal economyRapid technological changeCompetitive LandscapeStrategic maneuvering among global and innovative combatantsGlobal EconomyGlobal EconomyGoods, people, skills, and ideas move free

17、ly across geographic bordersMovement is relatively unfettered by artificial constraintsExpansion into global arena complicates a firms competitive environmentGlobal Economy (contd)GlobalizationIncreased economic interdependence among countries as reflected in the flow of goods and services, financia

18、l capital, and knowledge across country bordersIncreased range of opportunities for companies competing in the 21st-century competitive landscapeCountry Competitiveness Rankings (Population over 20 Million)Country20022003United States12Australia23Canada32Malaysia46Germany54Taiwan67United Kingdom75Fr

19、ance89Spain98Thailand1010Japan1111China1212Brazil130China140Korea1510Country20022003Colombia1620Italy1714South Africa1816India190India2017Brazil2115Philippines2218Romania230Mexico2419Turkey2523Russia2621Poland2722Indonesia2825Argentina2926Venezuela3024Technology and Technological ChangesRate of chan

20、ge of technology and speed at which new technologies become availablePerpetual innovationhow rapidly and consistently new, information-intensive technologies replace older onesThe development of disruptive technologies that destroy the value of existing technology and create new marketsTechnological

21、 ChangeThe Information AgeThe ability to effectively and efficiently access and use information has become an important source of competitive advantageTechnology includes personal computers, cellular phones, artificial intelligence, virtual reality, massive databases, electronic networks, internet t

22、radeTechnological ChangesIncreasing Knowledge IntensityStrategic flexibility: set of capabilities used to respond to various demands and opportunities in dynamic and uncertain competitive environmentsOrganizational slack: slack resources that allow the firm flexibility to respond to environmental ch

23、angesCapacity to learnFive Forces Model of Competition (contd)Firms earn above average returns byProducing standardized products or servicesManufacturing differentiated products for which customers are willing to pay a price premiumTwo Models of Strategic PlanningI/O Model of Above Average ReturnsIn

24、dustrial/organizational focusDominant influence on organization is external environmentResource-Based Model of Above Average ReturnsOrganizational resources focusedDominant influence on organizational success is the organizations unique set of resources and capabilitiesFour Assumptions of the I/O Mo

25、delExternal environment imposes pressures and constraints that determine strategies leading to above-average returns12Most firms competing in an industry control similar strategically relevant resources and pursue similar strategiesResources used to implement strategies are highly mobile across firm

26、s34Organizational decision makers are assumed to be rational and committed to acting in the firms best interests (profit-maximizing)I/O Model of Above-Average ReturnsStrategy dictated by the external environment of the firm (what opportunities exist in these environments?)Firm develops internal skil

27、ls required by external environment (what can the firm do about the opportunities?)External EnvironmentsGeneralEnvironment1.Study the external environment, especially the industry environmentThe general environmentThe industry environmentThe competitor environment2.Locate an attractive industry with

28、 a high potential for above-average returnsAn industry whose structural characteristics suggest above-average returns3.Identify the strategy called for by the attractive industry to earn above-average returnsSelection of a strategy linked with above-average returns in a particular industry4.Develop

29、or acquire assets and skills needed to implement the strategyAssets and skills required to implement a chosen strategy5. Use the firms strengths (its developed or acquired assets and skills) to implement the strategySelection of strategic actions linked with effective implementation of the chosen st

30、rategy6.Superior returns: earning of above-average returnsSuperior ReturnsThe I/O Model ofAbove-Average ReturnsThe External EnvironmentAn Attractive IndustryStrategy FormulationAssets and SkillsStrategy ImplementationResource-Based Model of Above-Average ReturnsEach organization is a collection of u

31、nique resources and capabilities that provides the basis for its strategy and that is the primary source of its returnsCapabilities evolve and must be managed dynamicallyResource-Based Model of Above-Average Returns (contd)Differences in firms performances are due primarily to their unique resources

32、 and capabilities rather than structural characteristics of the industryFirms acquire different resources and develop unique capabilitiesResource-Based Model of Above-Average Returns (contd)1.Strategy dictated by the firms unique resources and capabilities2.Find an environment in which to exploit th

33、ese assets (where are the best opportunities?)Firms ResourcesThe FirmResources and CapabilitiesResourcesInputs into a firms production processCapital equipmentSkills of individual employeesPatentsFinancesTalented managersCapabilitiesCapacity of a set of resources to perform in an integrative mannerA

34、 capability should not beSo simple that it is highly imitableSo complex that it defies internal steering and controlThe Resource-Based Model of Above-Average ReturnsSuperior ReturnsStrategy ImplementationAn Attractive IndustryCompetitive AdvantageCapabilityResources Identify the firms resources. Stu

35、dy its strengths and weaknesses compared with those of competitorsInputs into a firms production process Determine the firms capabilities. What do the capabilities allow the firm to do better than its competitors.Capacity of an integrated set of resources to integratively perform a task or activity

36、Determine the potential of the firms resources and capabilities in terms of a competitive advantage.Ability of a firm to outperform its rivals Locate an attractive industry. An industry with opportunities that can be exploited by the firms resources and capabilities Superior returns: earning of abov

37、e-average returns Select a strategy that best allow the firm to utilize its resources and capabilities relative to opportunities in the external environment.Strategic actions taken to earn above-average returnsKey Criteria of Resources and CapabilitiesValuableResources and capabilities are valuable

38、when they allow a firm to take advantage of opportunities or neutralize threats in external environmentRareResources and capabilities are rare when possessed by few, if any, current and potential competitorsKey Criteria of Resources and CapabilitiesCostly to ImitateResources and capabilities are cos

39、tly to imitate when other firms either cannot obtain them or are at a cost disadvantage in obtaining themNonsubstitutableResources and capabilities are nonsubstitutable when they have no structural equivalentsCore CompetenciesWhen the four key criteria of resources and capabilities are met, they bec

40、ome core competenciesCore competencies serve as a source of competitive advantageManagerial competencies are especially importantHow Resources and Capabilities Provide Competitive AdvantageThe firm is organized appropriately to obtain the full benefits of the resources in order to realize a competit

41、ive advantage ValuableAllow the firm to exploit opportunities or neutralize threats in its external environmentRarePossessed by few, if any, current and potential competitorsCostly to imitateWhen other firms cannot obtain them or must obtain them at a much higher costNonsubstitutableResources and Ca

42、pabilities, Core Competencies, and OutcomesCore CompetenciesCompetitive AdvantageValue CreationAbove Average ReturnsValuableRareCostly to ImitateNonsubstitutableDeveloping a Strategic Vision:Delineates managements future aspirations for the business to its stakeholders.Provides direction“where we ar

43、e going.”Sets out the compelling rationale,rnl (strategic soundness) for the firms direction.Uses distinctive and specific language to set the firm apart from its rivals.Strategic VisionExamples of Strategic VisionsCaterpillarBe the global leader in customer value.eBayProvide a global tradingplatfor

44、m where practically anyonecan trade practically anything. 2-43Capturing the Vision in a SloganFedEx“Satisfying worldwide demand for fast,time-definite, reliable distribution.”Home Depot“Helping people improve theplaces where they live and work.”Hewlett-Packard Vision StatementTo view change in the m

45、arket as an opportunity to grow; To use our profits and our ability to develop and produce innovative products, services and solutions that satisfy emerging customer needs.Communicating the Strategic VisionWhy Communicate the Vision:Fosters employee commitment to the firms chosen strategic direction

46、. Ensures understanding of its importance.Motivates, informs, and inspires internal and external stakeholders.Demonstrates top management support for the firms future strategic direction and competitive efforts.Strategic MissionExternally focusedA statement of a firms unique purpose and the scope of

47、 its operations in product and market termsEstablishes a firms individuality and is inspiring and relevant to all stakeholdersProvides general descriptions of the firms intended products and its marketsDisney Mission Statement We create happiness by providing the finest in entertainment for people o

48、f all ages, everywhere.“HBS Mission statementWe educate leaders who make difference in the world .Strategic Vision vs. MissionA strategic vision concerns a firms future business path - “wherewe are going” Markets to be pursuedFuture product/market/customer/technology focusKind of company management

49、is trying to createA companys mission statement typically focuses on its present business purpose - “who we are and what we do”Current product and service offeringsCustomer needs and customer groups being servedGeographic coverageStakeholdersIndividuals and groups who can affect, and are affected by

50、, the strategic outcomes achieved and who have enforceable claims on a firms performanceClaims are enforced by the stakeholders ability to withhold essential participationThe Three Stakeholder GroupsCapital Market StakeholdersShareholders and lenders expect the firm to preserve and enhance the wealt

51、h they have entrusted to itReturns should be commensurate with the degree of risk to the shareholderProduct Market StakeholdersCustomersDemand reliable products at low pricesSuppliersSeek loyal customers willing to pay highest sustainable prices for goods and servicesHost communitiesWant companies w

52、illing to be long-term employers and providers of tax revenues while minimizing demands on public support servicesUnion officialsWant secure jobs and desirable working conditionsOrganizational StakeholdersEmployees Expect a dynamic, stimulating and rewarding work environmentAre satisfied by a compan

53、y that is growing and actively developing their skillsStakeholder InvolvementTwo issues affect the extent of stakeholder involvement in the firmHow to divide returns to keep stakeholdersinvolved?Capital MarketProduct MarketOrganizationalHow to increase returns so everyone has more to share?Strategic

54、 LeadersPeople responsible for the design and execution of strategic management processesDecisions they make includeHow resources will be developed or acquiredAt what price resources will be obtainedHow resources will be usedOrganizational CultureThe complex set ofIdeologiesSymbolsCore valuesthat ar

55、e shared throughout the firm,that influence how the firm conducts businessMapping an Industrys Profit PoolsDefine the pools boundariesEstimate the pools overall sizeEstimate the size of the value-chain activity in the poolReconcile the calculationsStrategic Management ProcessStudy the external and i

56、nternal environmentsIdentify marketplace opportunities and threatsDetermine how to use core competenciesUse strategic intent to leverage resources, capabilities and core competencies and win competitive battlesIntegrate formulation and implementation of strategiesSeek feedback to improve strategiesC

57、hapter 2 Knowledge ObjectivesStudying this chapter should provide you with the strategic management knowledge needed to:Explain the importance of analyzing and understanding the firms external environment.Define and describe the general environment and the industry environment.Discuss the four activ

58、ities of the external environmental analysis process.Name and describe the general environments six segments.Identify the five competitive forces and explain how they determine an industrys profit potential.Chapter 2 Knowledge Objectives (contd)Studying this chapter should provide you with the strat

59、egic management knowledge needed to:Define strategic groups and describe their influence on the firm.Describe what firms need to know about their competitors and different methods used to collect intelligence about them.The Strategic Management ProcessThe External EnvironmentGeneral EnvironmentDimen

60、sions in the broader society that influence and industry and the firms within itEconomicSocioculturalGlobalTechnologicalPolitical/legalDemographicIndustry EnvironmentSet of factors directly influencing a firm and its competitive actions and competitive responsesThreat of new entrantsPower of supplie