管理學專業(yè)英語教程（第二版）課件：What is Strategy

WhatIsStrategy?管理學專業(yè)英語教程（精編版）（第二版）

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OutlinesBackgroundIntroduction

OperationalEffectiveness

OperationEffectivenessVSStrategicPositioningStrategyRestsonUniqueActivities3

ProductivityFrontier

Foralmosttwodecades,managershavebeenlearningtoplaybyanewsetofrules:Companiesmustbeflexibletorespondrapidlytocompetitiveandmarketchanges.Theymustbenchmarkcontinuouslytoachievebestpractice.

Theymustoutsourceaggressivelytogainefficiencies.

Theymustnurtureafewcorecompetenciesintheracetostayaheadofrivals.

BackgroundIntroduction

BackgroundIntroduction

BarriersCopymarketpositionGlobalizationPositioning---oncetheheartofstrategy---isrejectedastoostaticfortoday’sdynamicmarketsandchangingtechnologies.Accordingtothenewdogma,rivalscanquicklycopyanymarketposition,andcompetitiveadvantageis,atbest,temporary.Somebarrierstocompetitionarefallingasregulationeasesandmarketsbecomeglobal.Companieshaveproperlyinvestedenergyinbecomingleanerandmorenimble.

BackgroundIntroduction

Butthosebeliefsaredangeroushalf-truths,andtheyareleadingmoreandmorecompaniesdownthepathofmutuallydestructivecompetition.Inmanyindustries,however,whatsomecallhyper-competitionisaself-inflictedwound,nottheinevitableoutcomeofachangingparadigmofcompetition.Therootoftheproblemisthefailuretodistinguishbetweenoperationaleffectivenessandstrategy.OperationalEffectivenessStrategy≠Why?

Theprobableanswer：Thequestforproductivity,quality,andspeedhasspawnedaremarkablenumberofmanagementtoolsandtechniques:totalqualitymanagement,benchmarking,time-basedcompetition,outsourcing,partnering,reengineering,changemanagement.Althoughtheresultingoperationalimprovementshaveoftenbeendramatic,manycompanieshavebeenfrustratedbytheirinabilitytotranslatethosegainsintosustainableprofitability.

Andbitbybit,almostimperceptibly,managementtoolshavetakentheplaceofstrategy.Asmanagerspushtoimproveonallfronts,theymovefartherawayfromviablecompetitivepositions.BackgroundIntroduction

OperationalEffectivenessOperationalEffectiveness(OE)andstrategyarebothessentialtosuperiorperformance,whichafterall,istheprimarygoalofanyenterprise.Buttheyworkinverydifferentways.CreatecomparablevalueatalowercostBothgreatervalue&lowercostDelivergreatervaluetocustomersAcompanycanoutperformrivalschargehigheraverageunitpricesgreaterefficiencyresultsinloweraverageunitcosts

OperationalEffectivenessOthersTrainingemployeesDeliverSellProduceCreateOveralladvantageOrdisadvantageUltimately,alldifferencesbetweencompaniesincostorpricederivefromthehundredsofactivities(e.g.therightchart)Costisgeneratedbyperformingactivities,andcostadvantagearisesfromperformingparticularactivitiesmoreefficientlythancompetitors.

Similarly,differentiationarisesfromboththechoiceofactivitiesandhowtheyareperformed.Activities,then,arethebasicunitsofcompetitiveadvantage.

Overalladvantageordisadvantageresultsfromallacompany’sactivities,notonlyafew.DifferencesinOEamongcompaniesarepervasiveSuchdifferencesinOEareanimportantsourceofdifferencesinprofitabilityamongcompetitorsbecausetheydirectlyaffectrelativecostpositionsandlevelsofdifferentiation.OperationalEffectiveness

eliminatewastedeffortemploymoreadvancedtechnologymotivateemployeesbetterhavegreaterinsightintomanagingparticularactivitiesorsetsofactivitiesImagineforamomentaproductivityfrontierthatconstitutesthesumofallexistingbestpracticesatanygiventime.Thinkofitasthemaximumvaluethatacompanydeliveringaparticularproductorservicecancreateatagivencost,usingthebestavailabletechnologies,skills,managementtechniques,andpurchasedinputs.Theproductivityfrontiercanapplytoindividualactivities,togroupsoflinkedactivitiessuchasorderprocessingandmanufacturing,andtoanentirecompany’sactivities.WhenacompanyimprovesitsOE,itmovestowardthefrontier.Doingsomayrequirecapitalinvestment,differentpersonnel,orsimplynewwaysofmanaging.ProductivityFrontier

three-dimensionalproductivityfrontierplanarproductivityfrontierTheproductivityfrontierisconstantlyshiftingoutwardasnewtechnologiesandmanagementapproachesaredevelopedandasnewinputsbecomeavailable.Laptopcomputers,mobilecommunications,theInternet,andsoftwarehaveredefinedtheproductivityfrontierforsales-forceoperationsandcreatedrichpossibilitiesforlinkingsaleswithsuchactivitiesasorderprocessingandafter-salessupport.Similarly,leanproduction,whichinvolvesafamilyofactivities,hasallowedsubstantialimprovementsinmanufacturingproductivityandassetutilization.

*WecanuseMatlabtodrawmultidimensionalsituations*WealsocanusemultidimensionallinearregressiontocalculatedifferentinfluencesfromdifferentfactorsProductivityFrontierForatleastthepastdecade,managershavebeenpreoccupiedwithimprovingOE.Learningorganization:Hopingtokeepupwithshiftsintheproductivityfrontier,managershaveembracedcontinuousimprovement,empowerment,changemanagement.Thepopularityofoutsourcingandthevirtualcorporation:reflectthegrowingrecognitionthatitisdifficulttoperformallactivitiesasproductivelyasspecialists.Ascompaniesmovetothefrontier,theycanoftenimproveonmultipledimensionsofperformanceatthesametime.Forexample,manufacturersthatadoptedtheJapanesepracticeofrapidchangeoversinthe1980swereabletolowercostandimprovedifferentiationsimultaneously.

benchmarkingtime-basedcompetitionTQMeliminateinefficienciesimprovecustomersatisfactionachievebestpracticeProductivityFrontierConstantimprovementinOEisnecessarytoachievesuperiorprofitability.However,itisnotusuallysufficient.FewcompanieshavecompetedsuccessfullyonthebasisofOEoveranextendedperiod,andstayingaheadofrivalsgetshardereveryday.Themostobviousreasonforthatistherapiddiffusionofbestpractices.Themostgenericsolutions---thosethatcanbeusedinmultiplesettings--diffusethefastest.Witnesstheproliferationofoperationalefficiencytechniquesacceleratedbysupportfromconsultants.

ProductivityFrontierBarriersCopygenericsolutionsRapiddiffusionofbestpracticesThelater-comerssurpasstheformers:Lowercostforthemanagementtechniques,newtechnologies,inputimprovements,andsuperiorwaysofmeetingcustomers’needs.

OperationEffectivenesssimilaractivitiesbetterthanrivalsperformthem.includesbutisnotlimitedtoefficiencyreferstoanynumberofpracticesthatallowacompanytobetterutilizeitsinputsby,forexample,reducingdefectsinproductsordevelopingbetterproductsfaster.

OperationEffectivenessVSStrategicPositioningStrategicPositioningperformingdifferentactivitiesfromrivals’orperformingsimilaractivitiesindifferentways.Noticethedifferences!

Whyoperationeffectivenessisinsufficient?OEcompetitionshiftstheproductivityfrontieroutward,effectivelyraisingthebarforeveryone.ButalthoughsuchcompetitionproducesabsoluteimprovementinOE,itleadstorelativeimprovementfornoone.

ThesecondreasonthatimprovedOEisinsufficient---competitiveconvergence---ismoresubtleandinsidious.Themorebenchmarkingcompaniesdo,themoretheylookalike.Themorethatrivalsoutsourceactivitiestoefficientthirdparties,oftenthesameones,themoregenericthoseactivitiesbecome.Asrivalsimitateoneanother’simprovementsinquality,cycletimes,orsupplierpartnerships,strategiesconvergeandcompetitionbecomesaseriesofracesdownidenticalpathsthatnoonecanwin.CompetitionbasedonOEaloneismutuallydestructive,leadingtowarsofattritionthatcanbearrestedonlybylimitingcompetition.

OperationEffectivenessVSStrategicPositioning

TherecentwaveofindustryconsolidationthroughmergersmakessenseinthecontextofOEcompetition.Drivenbyperformancepressuresbutlackingstrategicvision,companyaftercompanyhashadnobetterideathantobuyupitsrivals.Thecompetitorsleftstandingareoftenthosethatoutlastedothers,notcompanieswithrealadvantage.AfteradecadeofimpressivegainsinOE,manycompaniesarefacingdiminishingreturns.Continuousimprovementhasbeenetchedonmanagers’brains.Butitstoolsunwittinglydrawcompaniestowardimitationandhomogeneity.Gradually,managershaveletOEsupplantstrategy.Theresultiszero-sumcompetition,staticordecliningprices,andpressuresoncoststhatcompromisecompanies’abilitytoinvestinthebusinessforthelongterm.

OperationEffectivenessVSStrategicPositioningCompetitivestrategyisaboutbeingdifferent.Itmeansdeliberatelychoosingadifferentsetofactivitiestodeliverauniquemixofvalue.Case:SouthwestAirlinesCompanyoffersshort-haul,low-cost,point-to-pointservicebetweenmidsizecitiesandsecondaryairportsinlargecitiesavoidslargeairportsanddoesnotflygreatdistances.Itscustomersincludebusinesstravelers,families,andstudents,sensitivecustomers,whootherwisewouldtravelbybusorcar,andconvenience-orientedtravelerswhowouldchooseafull-serviceairlineonotherroutes.

StrategyRestsonUniqueActivities

StrategyRestsonUniqueActivitiesSouthwestAirlinesCompanyTailorsallitsactivitiestodeliverlow-cost,convenientserviceonitsparticulartypeofroute.Throughfastturnaroundsatthegateofonly15minutes,Southwestisabletokeepplanesflyinglongerhoursthanrivalsandprovidefrequentdepartureswithfeweraircraft.Southwestdoesnotoffermeals,assignedseats,interlinebaggagechecking,orpremiumclassesofservice.Automatedticketingatthegateencouragescustomerstobypasstravelagents,allowingSouthwesttoavoidtheircommissions.Astandardizedfleetof737aircraftbooststheefficiencyofmaintenance.Afull-serviceairlineConfiguredtogetpassengersfromalmostanypointAtoanypointB.Toreachalargenumberofdestinationsandservepassengerswithconnectingflights,full-serviceairlinesemployahub-and-spokesystemcenteredonmajorairports.Toattractpassengerswhodesiremorecomfort,theyofferfirst-classorbusiness-classservice.Toaccommodatepassengerswhomustchangeplanes,theycoordinateschedulesandcheckandtransferbaggage.Becausesomepassengerswillbetravelingformanyhours,full-serviceairlinesservemeals.

StrategyRestsonUniqueActivitiesStrategicpositionsemergefromthreedistinctsources,whicharenotmutuallyexclusiveandoftenoverlap.

producingasubsetofanindustry’sproductsorservicesservingmostoralltheneedsofaparticulargroupofcustomerssegmentingcustomerswhoareaccessibleindifferentways

StrategyRestsonUniqueActivitiesItisalsocalledvariety-basedpositioningbecauseitisbasedonthechoiceofproductorservicevarietiesratherthancustomersegments.Variety-basedpositioningmakeseconomicsensewhenacompanycanbestproduceparticularproductsorservicesusingdistinctivesetsofactivities.Producingasubsetofanindustry’sproductsorservices1

StrategyRestsonUniqueActivitiesCASE:VanguardCompanyVanguardprovidesanarrayofcommonstock,bond,andmoneymarketfundsthatofferpredictableperformanceandrock-bottomexpenses.Thecompany’sinvestmentapproachdeliberatelysacrificesthepossibilityofextraordinaryperformanceinanyoneyearforgoodrelativeperformanceineveryyear.Vanguardisknown,forexample,foritsindexfunds.Itavoidsmakingbetsoninterestratesandsteersclearofnarrowstockgroups.Fundmanagerskeeptradinglevelslow,whichholdsexpensesdown,inaddition,thecompanydiscouragescustomersfromrapidbuyingandsellingbecausedoingsodrivesupcostsandcanforceafundmanagertotradeinordertodeploynewcapitalandraisecashforredemptions.Vanguardalsotakesaconsistentlow-costapproachtomanagingdistribution,customerservice,andmarketing.ManyinvestorsincludeoneormoreVanguardfundsintheirportfolio,whilebuyingaggressivelymanagedorspecializedfundsfromcompetitors.ThepeoplewhouseVanguardarerespondingtoasuperiorvaluechainforaparticulartypeofservice.Avariety-basedpositioningcanserveawidearrayofcustomers,butformostitwillmeetonlyasubsetoftheirneeds.

StrategyRestsonUniqueActivitiesItisalsocalledneeds-basedpositioning,whichcomesclosertotraditionalthinkingabouttargetingasegmentofcustomers.Itariseswhentherearegroupsofcustomerswithdifferingneeds,andwhenatailoredsetofactivitiescanservethoseneedsbest.Somegroupsofcustomersaremorepricesensitivethanothers,demanddifferentproductfeatures,andneedvaryingamountsofinformation,support,andservices.Avariantofneeds-basedpositioningariseswhenthesamecustomerhasdifferentneedsondifferentoccasionsorfordifferenttypesoftransactions.Acriticalelementofneeds-basedpositioningisnotatallintuitiveandisoftenoverlooked.Differencesinneedswillnottranslateintomeaningfulpositionsunlessthebestsetofactivitiestosatisfythemalsodiffers.Ifthatwerenotthecase,everycompetitorcouldmeetthosesameneeds,andtherewouldbenothinguniqueorvaluableaboutthepositioningServingmostoralltheneedsofaparticulargroupofcustomers2

StrategyRestsonUniqueActivitiesCASE:BessemerTrustCompanyVSCitibankBessemerTrustCompanytargetsfamilieswithaminimumof$5millionininvestableassetswhowantcapitalpreservationcombinedwithwealthaccumulation.Byassigningonesophisticatedaccountofficerforevery14families,Bessemerhasconfigureditsactivitiesforpersonalizedservice.Meetings,forexample,aremorelikelytobeheldataclient’sranchoryachtthanintheoffice.Bessemeroffersawidearrayofcustomizedservices,includinginvestmentmanagementandestateadministration,oversightofoilandgasinvestments,andaccountingforracehorsesandaircraft.Loans,astapleofmostprivatebanks,arerarelyneededbyBessemer’sclientsandmakeupatinyfractionofitsclientbalancesandincome.Despitethemostgenerouscompensationofaccountofficersandthehighestpersonnelcostasapercentageofoperatingexpenses,Bessemer’sdifferentiationwithitstargetfamiliesproducesareturnonequityestimatedtobethehighestofanyprivatebankingcompetitor.Citibank’sprivatebank,ontheotherhand,servesclientswithminimumassetsofabout$250,000who,incontrasttoBessemer’sclients,wantconvenientaccesstoloans---fromjumbomortgagestodealfinancing.Citibank’saccountmanagersareprimarilylenders.Whenclientsneedotherservices,theiraccountmanagerrefersthemtootherCitibankspecialists,eachofwhomhandlesprepackagedproducts.Citibank’ssystemislesscustomizedthanBessemer’sandallowsittohavealowermanager-to-clientratioof1:125.Biannualofficemeetingsareofferedonlyforthelargestclients.BothBessemerandCitibankhavetailoredtheiractivitiestomeettheneedsofadifferentgroupofprivatebankingcustomers.Thesamevaluechaincannotprofitablymeettheneedsofbothgroups.

StrategyRestsonUniqueActivitiesItisalsocalledaccess-basedpositioning.Accesscanbeafunctionofcustomergeographyorcustomerscale---orofanythingthatrequiresadifferentsetofactivitiestoreachcustomersinthebestway.Segmentingbyaccessislesscommonandlesswellunderstoodthantheothertwobases.

segmentingcustomerswhoareaccessibleindifferentways3

StrategyRestsonUniqueActivitiesCASE:CarmikeCinemasItoperatesmovietheatersexclusivelyincitiesandtownswithpopulationsunder200,000.HowdoesCarmikemakemoneyinmarketsthatarenotonlysmallbutalsowon’tsupportbig-cityticketprices?Itdoessothroughasetofactivitiesthatresultinaleancoststructure.Carmike’ssmall-towncustomerscanbeservedthroughstandardized,low-costtheatercomplexesrequiringfewerscreensandlesssophisticatedprojectiontechnologythanbig-citytheaters.Thecompany’sproprietaryinformationsystemandmanagementprocesseliminatetheneedforlocaladministrativestaffbeyondasingletheatermanager.Carmikealsoreapsadvantagesfromcentralizedpurchasing,lowerrentandpayrollcosts(becauseofitslocations),androck-bottomcorporateoverheadof2%(theindustryaverageis5%).OperatinginsmallcommunitiesalsoallowsCarmiketopracticeahighlypersonalformofmarketinginwhichthetheatermanagerknowspatronsandpromotesattendancethroughpersonalcontacts.Bybeingthedominantifnottheonlytheaterinitsmarkets-