Bain戰(zhàn)略分析工具英文版課件

ProfitPoolsandCoreCompetenceDarralGClarkeProfessorofManagementTheMarriottSchoolBrighamYoungUniversity10/6/20231DarralG.ClarkeforBM499ProfitPoolsandCoreCompetenProfitPools:AFreshLookatStrategyOritGadieshandJamesL.GilbertHarvardBusinessReviewMay-June199810/6/20232DarralG.ClarkeforBM499ProfitPools:AFreshLookatTHEPCINDUSTRY’SPROFITPOOLValuechainfocusAxesVertical—operatingmarginHorizontal—shareofindustrydata40%30201000100%shareofindustryrevenuemicroprocessorsothercomponentspersonalcomputerssoftwareperipheralsservicesThevaluechainforthePCindustryincludessixkeyactivities;theprofitabilityoftheactivitiesvarieswidely.Manufacturerscompeteinthelargestbutleast-profitablesegmentofthechain.10/6/20233DarralG.ClarkeforBM499THEPCINDUSTRY’SPROFITPOOLVTheProfitPoolLensTheprofitpoolisthetotalprofitearnedinanindustryatallpointsalongtheindustry’svaluechainSegmentprofitabilitymayvarybycustomergroup,productcategory,geographicmarket,ordistributionchannelProfitconcentrationmaybeverydifferentthanrevenueconcentrationShapeoftheprofitpoolreflectsthecompetitivedynamicsofabusinessInteractionsofcompaniesandcustomersCompetitivestrategiesofcompetitorsProductpoolsarenotstagnant10/6/20234DarralG.ClarkeforBM499TheProfitPoolLensTheprofitTHEU.S.AUTOINDUSTRY’SPROFITPOOL100%operatingmarginsource:HarvardBusinessReview,May-June1998autorental25%1510500shareofindustryrevenueautomanufacturingnewcardealersusedcardealersautoloansautoinsuranceaftermarketparts20leasingwarrantygasolineservicerepairTheautomotiveindustryencompassesmanyvalue-chainactivities.Thewaythatprofitsandrevenuesaredistributedamongtheseactivitiesvariesgreatly.Themostprofitableareasofthecarbusinessarenottheonesthatgeneratethebiggestrevenues.10/6/20235DarralG.ClarkeforBM499THEU.S.AUTOINDUSTRY’SPROFIProfitPools:CompanyExamplesCompaniesAutomakersU-HaulElevators(OTIS)HarleyDavidsonPolaroidCoreBusinessAutomanufacturingTruckRentalElevatorManufacturingMotorcyclesInstantPhotographyCamerasSourcesofHighestROIAutoleasing,insurancePackingmaterials,storageServiceAccessories(consumerproducts),leasing,service,restaurantsFilm10/6/20236DarralG.ClarkeforBM499ProfitPools:CompanyExampleManagerialImplicationsFocusongrowthandmarketsharecanleadacompanytofocusonunprofitablesegmentsofanindustryToday’sdeeprevenuerevenuepoolmaybetomorrow’sdryhole.ThegoalshouldbetofocusonprofitableopportunitiesIndustryshouldbeconsideredmorebroadlythantraditionaldefinitionAutomobileindustryincludesComponentmanufactureandsupplyNewcarassemblyanddeliveryNewcarwarranteeandserviceNewcarfinancingandinsuranceUsedcarsalesandservice10/6/20237DarralG.ClarkeforBM499ManagerialImplicationsFocusoTurbulentindustriesProfitpoolsareespeciallyimportantandusefulinindustriesundergoingderegulationand/ortechnologicalchangeSuchchangescanopennewprofitpoolopportunitiesanddrainoldonesChokepointsmaychangeorbeeliminatedOpportunitiesforeitherforwardorverticalintegrationmayemergeCurrentverticalintegrationmaybedisintermediated10/6/20238DarralG.ClarkeforBM499TurbulentindustriesProfitpooCreatingandmanagingaprofitpoolProfitpoolanalysismayindicatenewopportunitiesorthreatsImperativesBeopentoanewperspectiveonyourbusinessandindustryDevelopingnewstrategymayrequireoverturningelementsofthecurrentstrategyBeopentoreevaluatetheroleplayedbycurrentcompetitorsBevigilanttoidentifypossibilitythatnewentrantsmayseektoenteryourindustrywithradicalstrategies10/6/20239DarralG.ClarkeforBM499CreatingandmanagingaprofitLookingAhead:ProfitPoolsandtheFiveForcesProfitpoolsarecomputedbymultiplyingthesizeoftherevenuebytheunitprofitmarginEssentiallyanaccountingprocess--notheoryMostvaluableinsituationsinwhichexternalconditionsareessentialstableand/orunimportant(Oftendominatedbyinternaldataalone)Thefiveforcestellsus(whichwillstudynext)theunderlyingdeterminantsthatdetermineboththerevenuesizeandtheunitprofitmarginTheprofitdriverswhichallowustoforecastthedirectionofchange10/6/202310DarralG.ClarkeforBM499LookingAhead:ProfitPoolsanMarakonRunnersThomasA.StewartFortuneSept.28,199810/6/202311DarralG.ClarkeforBM499MarakonRunnersThomasA.StewaMarakonAssociates’sApproachtoCorporateStrategyConsultantstomanylargecorporationsCocaCola,HP,GM,CitiCorp,etc.Clientshavereturns3.1%higherthanindustrypeergroupGoalistoincreaseshareholdervaluethroughanalysisofeconomicprofitDeepdrillinginbusinessdatatomeasurevaluecreationProductsegmentsCustomersegments10/6/202312DarralG.ClarkeforBM499MarakonAssociates’sApproachHowStrategyHappensLearningwherevalueiscreatedWaterfallchartsbyproductandcustomersegmentsEvaluatingstrategyIndustryaverageprofitperunitCompany’sprofitvsindustryaverageManagingvalueCurrentstrategyChangeproductfocusChangecustomerfocus10/6/202313DarralG.ClarkeforBM499HowStrategyHappensLearningwLearningwherevalueiscreatedProductsegmentsCustomersegmentsProfit/loss($perunit)Volume(units)Volume(units)010/6/202314DarralG.ClarkeforBM499LearningwherevalueiscreateEvaluatingStrategyCompanyprofitperunitIndustry-averageprofitperunit10/6/202315DarralG.ClarkeforBM499EvaluatingStrategyCompanyproManagingforvalueCurrentstrategyChangeproductfocusChangeCustomerfocusValue10/6/202316DarralG.ClarkeforBM499ManagingforvalueCurrentChangApplicationtoourcasesRetailindustry(Wal*Mart)Softdrinkindustry(Coca-ColaandPepsiCo)Steel(Nucor)andaluminumcans(CC&S)Hitech(Intel,Cisco,andDell)Videogames(Nintendo)Webbusinesses(eBayandYahoo!)10/6/202317DarralG.ClarkeforBM499ApplicationtoourcasesRetailTheCoreCompetenceoftheCorporationPrahalad,C.K.andGaryHamelHarvardBusinessReview,May-June199010/6/202318DarralG.ClarkeforBM499TheCoreCompetenceoftheCorCoreCompetenceAFirmismadeupofresourcespeople,patents,brandnames,plant&equipment,processes,etcAcompetenceistheabilitytoemploydiverseskillsandresourcestoperformtasksandactivities.Acorecompetenceisabroadlybasedand/orabroadlyappliedfundamentalcapability.10/6/202319DarralG.ClarkeforBM499CoreCompetenceAFirmismadeCompetenceandTechnologyCompetenceisnotthesameastechnologyCompetencerequirestechnologiessocialorganizationcollectivelearning10/6/202320DarralG.ClarkeforBM499CompetenceandTechnologyCompeCorecompetencequestions:Whatarewereallygoodat?Howcanwebuilduponit?Whatdoweneedtobegoodat?10/6/202321DarralG.ClarkeforBM499Corecompetencequestions:WhatCharacteristicsofEffectiveCompetenciesDurability:Technicalequipmentcanbeshortlived.Reputationorknowledgemaydepreciatemoreslowly.Transparency:Themorecomplexthesourceofcompetence,theharderitistoimitateit.Transferability:Theavailabilityofresourcestocompetitors.Replicability:Acompetitor’sinternalabilitytoreplicateacompetenceusingavailableresources.10/6/202322DarralG.ClarkeforBM499CharacteristicsofEffectiveCChoosingCompetenciesHowcentralisthiscompetencetooursuccessinthemarket?Howlongcouldwepreserveourcompetitivenessinthisbusinesswithoutthisparticularcompetence?Whatfutureopportunitieswouldbeforeclosedifweweretolosethisparticularcompetence?10/6/202323DarralG.ClarkeforBM499ChoosingCompetenciesHowcentrCoreCompetenceandCoreProducts10/6/202324DarralG.ClarkeforBM499CoreCompetenceandCoreProduAHierarchyofCompetencies10/6/202325DarralG.ClarkeforBM499AHierarchyofCompetencies10/BuildingStrategyfromCapabilitiesStrategyCapabilitiesResources1.Identifyresources,appraiserelativestrengthsandweaknesses.Leverageuseofresources2.Identifycapabilities.Whatdowedomoreeffectivelythancompetitors?Identifyresourceinputstocapabilities.3.Appraiserent-generatingpotentialresourcesandcapabilitiesintermsof:sustainableadvantage,inappropriability4.Selectstrategythatbestexploitsthefirm’sresourcesandcapabilitiesrela-tivetoexternalopportunities.5.Identifyresourcegapsthatneedtobefilled.Investinreplenishing,augmenting,andup-gradingthefirm’sresourcebase.CompetitiveAdvantageSource:RobertM.Grant,“TheResource-BasedTheoryofCompetitiveAdvantage,”CaliforniaManagementReview,Spring,1991,page151.10/6/202326DarralG.ClarkeforBM499BuildingStrategyfromCapabilHowtomapyourindustry’sprofitpoolOritGadieshandJamesL.GilbertHarvardBusinessReviewMay-June199810/6/202327DarralG.ClarkeforBM499Howtomapyourindustry’sproAstraightforwardexercisewithcomplicationsConceptisstraightforwardDefinevaluechainactivitiesDeterminetheirsizeandprofitabilityApplicationofconceptiscomplicatedFinancialdatadoesn’tcorrespondtovaluechainactivitiesCompanydataisaggregatedacrossbusinessesProducts,customerpurchases,channelvolumesrarelymatchupwithboundariesofanactivityConsiderablecreativityisrequired10/6/202328DarralG.ClarkeforBM499AstraightforwardexercisewiFourstepprocessDefinethepoolDeterminethesizeofthepoolDeterminethedistributionofprofitsReconciletheestimates10/6/202329DarralG.ClarkeforBM499FourstepprocessDefinethepoFourstepprocessDefinethepoolDeterminethesizeofthepoolDetermineprofitdistributionReconciletheestimatesTask:determinewhichvalue-chainactivityinfluenceprofitsnowandinthefutureDevelopabaselineestimateofcumulativeprofitsgeneratedbyallprofitpoolactivitiesDevelopestimateoftheprofitsgeneratedbyeachactivityComparetheoutputsofsteps2&3GuidelinesTakeabroadviewofthevaluechain(beyondtraditionalindustrydefinition)SeekaroughbutaccurateestimateShiftbetweenaggregationanddisaggregationinyouranalysisIfnumbersdon’taddup,CheckassumptionandcalculationsExamineindustryfromthreeperspective:own,otherplayers,customersTakeeasiestroute:gowherethedataareDoowneconomicsfirst,thenlargepureplayers,largemixed,smallerCollectadditionaldataDon’tdisaggregatemorethannecessaryTakeatleasttwoviewpoints:companylevelandproductlevelUseproxymeasureswherenecessaryResolveinconsistencies—don’tignorethemOutputProfitpoollistEstimateoftotalpoolprofits,(range)PointestimateofprofitsforeachvaluechainactivityFinalestimatesofactivityandtotalpoolprofits10/6/202330DarralG.ClarkeforBM499FourstepprocessDefinethepoWhatis“profit”anyway?Canbethoughtofinthreeways(allofwhichmayberelevantforprofitpoolanalysis)AccountingprofitReturnoninvestmentEconomicvalueadded=after-taxoperatingprofits–costofallinveste