同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院課件

1、WELLCOME TOStrategy and Strategic ManagementSchool of Economics and ManagementTongji University1同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶- Arthur A. Thompson, Jr. A. Strickland (1998), Strategic Management: Concepts and Cases (12th edition), Mechanical Industry and McGraw-Hill- David A. Aaker (1998), Strategic Market Managem

2、ent (fifth edition), John Wiley & Sons, Inc. - Gerry Johnson and Kevan Scholes (1998), Exploring Corporate Strategy (third edition, in Chinese), Prentice Hall- Fred R. David (1998), Strategic Management (Six edition, in Chinese), Economics Science Press- Cliff Bowman (1997), STRATEGIC MANAGEMENT, Pr

3、ess of China Peoples University and Prentice HallReference Books2同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Unit 1 IntroductionObjectsare an organizations performance targets the resultsand outcomes it wants to achieve.Strategic objectsRelate to outcomes that strengthen an organizations overall business position and competitiv

4、e vitality.3同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶StrategyIs a continuous, interactive process aimed at keeping an organization as a whole appropriately matched to its environment(Peter, 1988)A companys strategy consists of the competitive efforts and business approaches that managers employ to please customers, compete s

5、uccessfully and achieving organizational objects (Thompson & Strickeland, 2003) 4同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Strategy is concerned with the long term direction of an organizationThe scope of an organizations activitiesachieving advantage over competitionmatching activities to resources and capabilitiesthe value

6、of power holdersmajor resources implicationsinfluence over operation decisions(Johnson & Scholes, 2002)And in China- 5同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Levels of StrategiesCorporate HQSBU ASBU BSBU CManufacturingMarketingAccountingHR.Corporate strategyCompetitive strategyFunctional strategies6同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Content of

7、 strategy at different levelscorporateSBUFunctionPortfolio and resource allocationHow to competeProduct, marketPlans7同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Formulating strategystrategyMarket understandingMajor environment influencesCompetitive analysisResource and capabilitiesinsights8同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Schools of Strategy For

8、mation- Planning School- Designing School- Political School- Culture School- Learning School- Fate School- .9同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Classical model of strategic planningStrategy formulationExternal appraisalIndustry attractivenessThreats & opportunitiesKey successful factorsSocial responsibilitiesInternal a

9、nalysisOrganizationalStrengths & weaknessesCore (distinctive)CompetenciesManagerial valuesPersonal ambitions.Mintzberg, 1994)Strategy optionsevaluations10同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Strategy perceived and realizedDesigned strategyRealized strategyIntended strategyEmergentstrategyUnrealized strategy11同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院

10、俞秀寶Who PerformsCEOVice presidentsMajor org. unitsProductionMarketingHuman resourceOther key departmentDiversified companies:CEOBusiness unitsDepartment headsManagers of major operating unitsemployees12同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Unit 2 Vision and MissionWhat is a strategic vision?Why have a vision or mission?Mis

11、sion statement - how to define13同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶What is a Strategic VisionManagements views and conclusions about:- organizations future course- the customer focus- the market position it should try to occupy- business activitiesWhat kind of company we are trying to create?14同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Why Have a

12、 Vision or MissionA prerequisite of effective strategic leadership- forming a strategic vision is not an exercise to create a catchy sloganthinking strategically about org futureputting the company on a path that management is deeply committed to- Chart a company future15同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Mission State

13、mentThe mission statement sets out the organizations ground rules to its approach to doing business. A good statement usually address the following:a statement of beliefs and valuesthe products or services that the firm will sellthe markets within which the firm will tradehow those markets will be r

14、eachedthe technologies that the firm will useattitudes to growth and financing 16同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Pepsi Cos Mission“ Is to increase the value of our share holders investment. We do this through sales growth, cost control, and wise investment resources. We believe our commercial success depends upon of

15、fering quality and value to our consumers; providing products that are safe, wholesome, economicallyefficient and environmentaly sound; and providing a fair return to investors while adhering to the highest standards of integrity”. 17同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Vision of Amersham PK“To build our position as a le

16、ading provider of products and technologies to enable the molecular medicine revolution, in which disease will be betterunderstood, diagnosed sooner and treated moreeffectively”.18同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Tongjis Vision努力建設(shè)一所文理交融、醫(yī)工結(jié)合，科技教育與人文教育協(xié)調(diào)發(fā)展的研究型、多功能的一流的現(xiàn)代化大學(xué)19同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Financial Objects vs Strateg

17、ic ObjectsFinancial objectsGrowth in revenuesGrowth in earningsHigher dividendsWider profit marginsHigher returnsAttractive EVA performanceStrong bond and credit ratingBigger cash flowsA rising stock priceA more diversified revenue baseStable earning during recessionStrategic objectsA big market sha

18、reQuicker design-to-market times than rivalsHigher product quality than rivalsLower costs relative to key competitorsBroader pr more attractive product line than rivalsA stronger reputation with customers than rivalsSuperior customer serviceWide geographic coverage than rivalsRecognition as a leader

19、 in technology and/or product innovation20同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Establishing Objects Setting objects: convert the strategic vision and directional course into specific performance target. Objects: represent a managerial commitment to achieving specific performance targets within a specific time frame. Expe

20、rience: “companies whose managers set objects for each key result typically outperform companies whose managers exhibit good intentions, try hard, and hope for the best”. 21同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Unit 2 Activity為你選定的一家企業(yè)撰寫一個企業(yè)愿景或使命。22同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Unit 3 Industry and competitive analysis Managers are not p

21、repared to decided on a long termdirection or a strategy until they have a keen understanding of the companys strategic situation the exact nature of The industry and competitive conditions it faces and how These conditions match up with its resources and capabilities.Thompson & Strickland (2003)23同

22、濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Sources of profitMicroeconomic contextIndustry conditionsFirm resource capabilitiesIndustryattractivenessCompany performanceIndustryBased viewResourceBased view24同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶A companys Macro-environmentcompanysuppliersBuyersNewentrantsrivalssubstitutesTechnologyThe economyRegistrati

23、on & regulationsSocial and lifestylesPopulationdemographics25同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶PESTD AnalysisPolitical- political parties and alignment at local, national & regional trading-block level legislation, regulation, taxation, employment law Relations between government and the organization Government owners

24、hip of the industry and attitude to monopolies and to competitionEconomic resent and future Total GDP and GDP per head Inflation, Interest rates, Unemployment Disposable income and consumer expenditure Currency fluctuations & exchange rate Investment (from state, private and foreign firms) Key mater

25、ial unit cost (energy, transport, telecommunication, )(Lynch, 2003)26同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶PESTD AnalysisSocial and culture- shift in value and culture, changes in lifestyle- Attitudes to work and leisure, “green environment” issues Education and health Distribution of incomesTechnologyrate of adoption of

26、new technologiesExpenditure on R&D by rivalsNew patents and products(Lynch 2003)Demogrphics- age, income, education, geographic lacation27同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Environment Analysis- key issuesPolitical what changes in regulation are possible? What will be their impact be?What tax or other incentives are be

27、ing developed that might affect strategy? what are the political risks operating in a government jurisdiction?Economicwhat are the economic prospects and inflation outlets for the countries in which the firm operates? How will they affect strategy?Social and culture what are the current or emerging

28、trends in lifestyles, fashions, and other components of culture? Why? What are their implications?TechnologyTo what extent are existing technologies maturing?What technological development or trends are affecting or will affect the industry?Demographics-what demographic trends will affect the market

29、 size or sub-market of the industry?- what trends represent opportunities and threats?28同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Customer AnalysisSegmentation Strategic Business Units, definitionHow should segments be defined 5-10 variables and firm historyQuestions need to be asked for segmentationCustomer motivations what

30、lies behind their purchase decisionUnmet needs represents the opportunities for firms 29同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Competitor AnalysisIdentify your competitorsCustomer choices from your customers point of viewProduct approaches who is offering similar productsStrategic Group approach Understanding competitors S

31、ize, growth, profitabilityCurrent and past strategiesCost structureImage, positioning, cultureCompetitors strengths and weaknesses 30同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶What are the industrys dominant economic traits?Market sizeScope of competitive rivalry Market growth and where the industry is in the growth cycleNumbe

32、r of rivals and their relative sizesThe number of buyers and their relative sizesThe prevalence of backward and forward integrationThe pace of technology changeCost structureWhether rivals product or services are highly or weakly differentiated or identicalWhether industry profitability is above/bel

33、ow par.31同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Learning curve1 2 4 8 million unitsCost Per unit$ 1 70 cents 35 centsCost reductionAccumulated production32同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Industry structurePerfect competition- many equal suppliers of similar productsMonopolistic competition- many sellers with each slightly differently Oligo

34、poly- a few large suppliers Monopoly- one dominant seller 33同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Industry structure and advantagesConsiderablevery fewCost advantagesDifferentiation advantagesConsiderable very fewMonopolyOligopolyPerfectcompetitionMonopolisticcompetition34同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Stages of industry evolutionIntrodu

35、ction Maturity Decline Growth35同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Industry evolution and competitionIntroductiongrowthmaturitydeclineDemandhigh incomeenlarged repeatingcleverconsumers Technologyimprovestablenew proddeclineProductslow quality high qualitystandardlowqualityManufacturehigh costmass production more tableov

36、er capacity enlargeTradesome exportlarge exportexport decno expsmall importimport inclarge inpCompetitionfew companiesentryprice comptoutmanymany out36同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Industry evolutionproductionNew productmaturing product standardized productUnit producedInnovating country Other industrialized count

37、riesDeveloping countries 37同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Strategic groups奧迪別克本田雅閣帕薩特桑塔納捷達(dá)富康夏利奧托悅達(dá)market shares- Firm in an industry following the same or a similar strategy along key dimensions- Variablesprice/quality/imagegeographic coveragemarket sharesprice/quality/imagelowCar industry in 200038同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶C

38、ommon Types of Key Successful Factors- The essential requirements for competing in an industry Technology-Related KSFs Manufacturing-Related KSFs Distribution-Related KSFs Marketing-Related KSFs Skill-Related KSFs Organizational Capacity Other Types 39同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Industry analysis key issues Wher

39、e is the industry now in terms of its evolution? what are the most important issue? where it will be ? And how it might take to go there? what are the implications to the firm? 40同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Competitive analysiscompetitive force: pressures to companys profitability- Five force modelDiscover the m

40、ain sources of competitive pressure and how strong each competitive force is? a key analytical tool to analyze whether an industry is attractive or not41同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶What is competitive like and how strong are each of the competitive forces?COMPETING SELLERSSUPPLIERS OF KEY INPUTSSUBSTITUTESBUYERS

41、POTENTIALNEW ENTRANTSWin buyersAbility to exercise bargaining power and leverageThreat of entry of new rivalsBargaining power and leverage42同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Rivalry intensity is likely to be high whenthe number of competitors increases and as competitors become more equal in size and capabilitiesthe d

42、emand for the product is growing slowly industry conditions tempt competitors use price cuts etc to boost unit volume customers costs to switch brands are low one or more competitors are dissatisfied with market position exit cost is high43同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Buyers are like to have higher bargaining pow

43、er when low switch cost number of buyers are small a customer is particularly important to a seller they are well informed at sellers products, price, costs buyers pose a credible threat of integrating backward buyers have discretion in whether and when they purchase the products44同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Sup

44、plier power tends to be higher if number of suppliers are small less substitutes available in the market suppliers products are key to buyers significant switch cost for buyers supplier poses a credible threat of forward integration(porter, 1980)45同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Entry barriers of potential entrantsG

45、overnment regulations and policies economics of scale learning and experience curve effects technology Brand preference and customer loyalty capital requirement distribution channels46同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Competitive pressures from substitutes attractive price from substitutes better quality, performance,

46、 and other attributes low switching cost47同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Strategic implications of five-forceAs a rule, the stronger the collective impact of competitiveforces, the low the combined profitability of participant firms.48同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶 Unit 4 Case Study 閱讀三星案例，并討論該公司是否應(yīng)該投資主題公園項(xiàng)目？為什么？49同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶

47、Unit 5 Evaluating Company Resources and competitive Capabilities- How well is the companys present strategy working?- What are the companys resource strengths and weaknesses and its external opportunities and threats?- Are the companys prices and costs competitive? How strong is the companys competi

48、tive position relative to its rivals?What strategic issues does the company face? SWOT analysis, shareholder value analysis, value chain analysis, strategic cost analysis and competitive strength assessment50同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶How well is the companys present strategy working?The firms market share in t

49、he industry - rising, stable or declining profit margin trends in the firms net profits, return on investment companys overall financial strength and credit rating is improving or on the decline trends in the companys stock price and shareholder value firms sales - growing faster or slower than the

50、market as a whole The firms image and reputation, product or service quality, customer satisfaction, employees capability and performance the company is regarded as a leader or not 51同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶What are the companys resource Strengths and Weaknesses and its external Opportunities and Threats?-Pr

51、ovide a good overview of whether a firms business position is fundamentally healthy or unhealthy -Concept: a strength is something a company is good at doing or a characteristic that gives it enhanced competitiveness. -Concept: a weakness is that a company lacks or does poorly (in comparison to othe

52、rs) or a condition that puts it at a disadvantage.52同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Identify companys strengths and resource capabilitiesStrengths: skills and expertise, collection of assets, competitive capabilities and market achievementsForms of strengths:skill or expertisephysical assetshuman assetsorganizationa

53、l assetsintangible assetscompetitive capabilitiesalliances or cooperative ventures53同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶DefinitionsResourcesStocks of available factors that are owned or controlled by a firmCapabilities (competency)A firms ability to utilize resource to achieve a desired end(Amit etc, 1993)54同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院

54、俞秀寶Core competencyCore competencies: the ability to perform a competitively relevant activity very well (text book)Core competencies are the collective learning in the organization, especially hoe to coordinate diverse production skills and integrate multiple streams of technologies (Prahalad and Ha

55、mel,1990) is central to a companys competitiveness and profitability skills, knowledge and capabilities lies in a companys people, not in its assets on the balance sheet empowers a company to build competitive advantage A firm normally needs to have about 5 single competencies to keep a sustainable

56、competitive advantages (Aaker, 2001)55同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Core competency and firm competitive advantageCore competencyCapabilitiesResourceHigh performance than rivalsDelivery products and Services highly valued by customersDynamic capabilities that are hard to copy by rivals56同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Samples of c

57、ore competenciesCore competency of Dell direct sells + quality product + serviceCore competency of EBA Papst High quality, reliable, innovative products and total thermal solutionsCore competency of Sharp Corporation Flat-panel display technology (Liquid crystal displays)Core competency of Toyota an

58、d Honda- low cost, high quality manufacturing, short design-to-market cyclesCore competency of your firm-57同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Competitive Value of a Companys Resource Is the resource hard to copy? How long does the resource last? Is the resource really competitively superior? Can the resource be trumped

59、 by the different resources/capabilities of rivals? Can the resource/capability be transfer to provide products and service that customers put high value on Selecting the competencies and capabilities to concentrate on Size is not “all” about competitiveness58同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Barriers to imitation The

60、 true causes are not fully understoodExpensivecomplexity complementaritiesphysically uniquecurrent learning is based on past learning(Collins etc, 1995)Difficulty to copy59同濟(jì)大學(xué)經(jīng)濟(jì)與管理學(xué)院 俞秀寶Identifying a companys market opportunities (SWOT analysis)Market opportunities are the important factors of the