企業(yè)戰(zhàn)略管理第16講

1、2021-7-21Jia Liangding1 第十六講第十六講 Competitive Strategy in Emerging Industries 1.1 The Structural Environment in Emerging Industries 1.2 Problems Constraining Industry Development 1.3 To Adopt New Products Early or Late? 1.4 Strategic Choices in Emerging Industries 2021-7-21Jia Liangding2 1.1 新興產(chǎn)業(yè)的結(jié)構(gòu)新

2、興產(chǎn)業(yè)的結(jié)構(gòu) Emerging Industries are newly formed or reformed industries that have been created by technological innovations, shifts in relative cost relationships, emergence of new consumer needs, or other economic and sociological changes that elevate a new product or service to the level of a potential

3、ly viable business opportunity. Emerging Industries are been created all the time. 2021-7-21Jia Liangding3 The essential characteristic of an Emerging Industry from the viewpoint of formulating strategy is that there are no rules of the game. The competitive problem in an Emerging Industry is that a

4、ll the rules must be established such that the firm can cope with and prosper under them. The absence of rules is both a risk and a source of opportunity. 2021-7-21Jia Liangding4 COMMON STRUCTURAL CHARACTERISTICS: Technological Uncertainty. What product configuration will ultimately prove to be the

5、best? What production technology will to be the most efficient? Strategic Uncertainty. A wide variety of strategic approaches often are tried by industry participants. No “right”strategy has been clearly identified. Firms often have poor information about competitors, characteristics of customers, a

6、nd industry conditions. 2021-7-21Jia Liangding5 High Initial Costs but Steep Cost Reduction. Small production volume; Increasing scales; Steep learning curves; Declining costs. Embryonic Companies ( newly formed companies) and Spin-offs. Without established rules of the game or scale economies as de

7、terrents, newly formed companies are in position to get into Emerging Industries. First-Time Buyers. The buyer must be informed about the basic nature and functions of the new product or service, be convinced that it can actually perform these functions, and be persuaded that the risks of purchasing

8、 it are rationally borne given the potential benefits. 2021-7-21Jia Liangding6 Short Time Horizon. Subsidy. 2021-7-21Jia Liangding7 EARLY MOBILITY BARRIERS Proprietary Technology; Access to distribution channel; Access to raw material and other inputs of appropriate cost and quality; Cost advantages

9、 due to experience, made more significant by the technological and competitive uncertainties; Risk, which raises the effective opportunity cost of capital and thereby effective capital barriers; 2021-7-21Jia Liangding8 1.2 Problems Constraining Industry Development Inability to Obtain Raw Materials

10、and Components severe shortages Period of Rapid Escalation of Raw Materials Prices burgeoning demand and inadequate supply Absence of Infrastructure distribution channels, service facilities, trained mechanics, complementary products, etc. Perceived likelihood of obsolescence second- or third- gener

11、ation 2021-7-21Jia Liangding9 Customers Confusion resulting from the presence of a multiplicity of product approaches, technological variations, conflicting claims and counterclaims by competitors). Erratic product quality. Image and Credibility with the Financial Community poor Regulatory Approval.

12、 High Costs. cost -volume cycle Response of Threatened Entities. 2021-7-21Jia Liangding10 1.3 To Adopt New Products Early or Late? One of the crucial questions for strategic purposes in an emerging industry is often the assessment of which markets for the new industrys product will open early and wh

13、ich will come late. 2021-7-21Jia Liangding11 Nature of the Benefit. Perhaps the single most important determinant of the receptivity of the buyer to a new product or service is the nature of the expected benefit. We can imagine a continuum of benefits ranging from a new product that offers a perform

14、ance advantage unachievable through other means to one that offers solely a cost advantage. Between the two, we can get many cases mixing performance advantage with cost one. The receptivity of the buyer depends on a number of other aspects of the nature of the benefits it offers: 2021-7-21Jia Liang

15、ding12 performance advantage How large is the performance advantage for the particular buyers? How obvious is the advantage? How pressing is the need for the buyer to improve along the dimension offered by the new product? Does the performance advantage improve the competitive position of the buyer?

16、 How strong is competitive pressure to compel changeover? How price and /or cost sensitive is the buyer, if the added performance entails higher cost? 2021-7-21Jia Liangding13 cost advantage How large is the cost advantage for the particular buyers? How obvious is the advantage? Can a lasting compet

17、itive advantage be gained from lowering costs? How much competitive pressure compels changeover? How cost-oriented is the prospective buyers business strategy? 2021-7-21Jia Liangding14 State of the Art Required to Yield Significant Benefits. A second key factor is the technological performance about

18、 their application demands of the product. Cost of Product Failure. Introduction or Switching Costs. Support Service. Cost of Obsolescence. Some buyers can obtain all the benefits they really need from the first generation, whereas others will be forced to acquire successive generations of the new p

19、roduct to remain competitive. Depending on their changeover costs, the latter buyers may be more or less to buy early. 2021-7-21Jia Liangding15 Asymmetric Government, Regulatory, or Labor Barriers. Resources to Change. Perception of Technological Change. Personal Risk to the Decision Maker. 2021-7-2

20、1Jia Liangding16 1.4 Strategic Choices in Emerging Industries Formulation of strategy in emerging industries must cope with the uncertainty and risk of this period of an industrys development. The rules of the competitive game are largely undefined, the structure of the industry unsettled and probab

21、ly changing, and competitors hard to diagnose. Shaping Industry Structure (the overriding strategic issue). Externalities in Industry Development. Changing Role of Suppliers and Channels. Shifting Mobility Barriers. 2021-7-21Jia Liangding17 STRATEGIC CHOICES OF TIMIMG ENTRY Early entry is appropriat

22、e in the following circumstances: image and reputation of the firm are important to the buyer; the learning curve is important, experience is difficult to imitate, and it will be not nullified by successive technological generations; customer loyalty will be great; absolute cost advantage can be gai

23、ned by early commitment to suppliers of raw materials, distribution channels, and so on. 2021-7-21Jia Liangding18 Early entry is risky in the following circumstances: Early competition and market segmentation are on a basis different to that which will be important later in industry development. The fi