国际商务12

ChapterThe Strategy of International Business12Case: Global strategy at MTV networksEstablished in 1987 & owned by ViacomMajority of its 2 million viewers outside the United StatesUnsuccessful at a single Americanized program strategy across EuropeSuccessful when program content was localized70 % of video content is now local in most marketsMTV uses expatriates to transfer the “genetic code”but later uses local employees to understand viewersRatings increased by more than 700% in India in 1996 & advertising revenues by 60 % in Europe Strategy & the firmStrategy: It refers to the actions that managers must take to attain the goals of the firmMain goal usually to maximize long-term profit (П)Profitability defined by return on sales or return on equity利润（∏）可定义为总收入（TR）和总成本（TC）之差Value creation价值创造Profit determined by :The amount of value customers place on firm’s goods or services (V)Firm’s cost of production (C)Consumer surplus occurs when price charged by a firm on a good or service is less than value placed on it by a customer企业对其产品或服务的要价通常得低于用户对其产品或服务评估的价值。

经济学家把它称之谓消费者盈余Value creation = V-C企业的价值创造可用V和C之间的差（V-C）来衡量Two basic strategies to create value and attain competitive advantage according to Porter:Low cost 低成本Differentiation strategy 差异化Value creationFig 12.1Strategic positioning战略定位Fig12.2Firm as a value chain企业作为一条价值链Any firm is composed of a series of distinct value creating activitiesPrimary activitiesResearch & developmentProductionMarketing & salesServiceSupport ActivitiesMaterials management or logisticsHuman resourceInformation systemsCompany infrastructureFirm as a value chainFig 12.3Strategy in international businessStrategy is concerned with identifying and taking actions that will lower costs of value creation and/or differentiate the firm’s product offering through superior design, quality service, functionality, etc.Advantages of global expansionLocation economies (区位经济)Cost economies from experience effects (经验效应)Leveraging (杠杆作用) core competenciesLeveraging subsidiary skillsProfitability is constrained by product customization and the “imperative of localization”. Location economiesIt is realized by performing a value creation activity in an optimal location anywhere around the globeIt often arises due to differences in factor costsIt can lower costs of value to enable low cost strategy and/orIt helps in differentiation of products from competitorsGlobal web: different stages of value chain are dispersed to those locations where perceived value is maximized or costs of value creation are minimizedPartsPartsPartsAssemblyAdvertisingDesignSalesLocation EconomiesPontiac LeMansCreating a Global WebCaveats 一些警示Complications arise due toTransportation costsTrade barriersPolitical and economic risksUS firms have shifted production from Asia to Mexico due toLow labor costs.Proximity to (毗邻) U.S.NAFTA.Experience effectsThe systematic reduction in production costs that occurs over the life of a productFirst, it is observed in aircraft industry where unit costs reduced by 80% each time output was doubledCaused due toLearning effectsEconomies of scaleLearning effectsCost savings that come from learning by doingArises due to increased worker productivity and management efficiencySignificant in cases of technologically complex task as there is a lot to be learnedExperienced during start-up phase, cease after two or three yearsDecline after this point comes from economies of scale.Economies of scaleIt refers to reduction in unit cost by producing a large volume of a productSources:Reduces fixed costs by spreading it over a large volumeAbility of large firms to employ increasingly specialized equipment or personnelStrategic significance of the experience curveThe firm that moves down the experience curve most rapidly has a cost advantage over its competitorsServing the global marketfrom a single location helps toestablish low cost strategyAim to rapidly build up salesaggressive marketing strategiesand first-mover advantages经验曲线下降得最快的企业相对其竞争对手而言将具有成本优势由单一区位为全球市场服务的企业能持续地降低其经验曲线并建立一个低成本的地位一个企业要快速降低其经验曲线必须在定价与营销上非常努力进取以迅速扩大其需求Fig 12.4Leveraging core competencies利用核心竞争力Core competence: Skills within the firm that competitors cannot easily match or imitateEarn greater returns by transferring these skills and/or unique product offerings to foreign markets who lack themExamples:Consumer marketing skills of U.S. firms allowed them to dominate European consumer product market in 1960s and 70sLeveraging subsidiary skills 利用子公司的技能Value created by identifying them and applying it to a firm’s global network of operations Some Challenges:Managers must create an environment where incentives are given to take necessary risks and reward themNeed a process to identify new skill developmentNeed to facilitate transfer of new skills within the firm必须建立一个激励机制以鼓励当地雇员获取新技术管理者对何时子公司创造了有价值的新技术必须有一个确认的过程需作为一个促进者，帮助在公司内部转移有价值的技术Unique skills and ideasoften developed in foreignsubsidiariesPressures for cost reductions降低成本的压力Intense in industries of standardized, commodity type product that serve universal needs Meaningful differentiation on non-price factors is difficultMajor competitors are based in low-cost locationsConsumers are powerful and face low switching costsLiberalization of world trade and investment environmentExamplesBulk chemicals, petroleum, steel, personal computersPressures for cost reduction and local responsivenessGenerally reflectsthe position of mostcompaniesFig 12.5降低成本与地区调适的压力Fig 12.5Management focus –tailoring world cars to the U.S. marketJapanese automobile manufacturers customize car design to tastes of American consumers Toyota released the Tundra with V8 engines which looks like a heavy-duty pickup truck with a powerful engineNissan let U.S. engineers and planners be completely responsible for development of most vehicles sold in North AmericaHonda customizes the Pilot, it’s next generation SUV according to tastes for American families who wanted bigger vehicles with three row seatingStrategic choicesFour basic strategies to enter and compete in the international environment:International strategyMulti domestic strategyGlobal strategyTransnational strategy企业应用四种基本战略进入国际环境和在国际环境中竞争:国际战略（international strategy）多国战略（multidomestic strategy）全球战略（global strategy）跨国战略（transnational strategy）Four basic strategiesFig 12.6International strategyCreate value by transferring valuable core competencies to foreign markets that indigenous competitors lackCentralize product development functions at homeEstablish manufacturing and marketing functions in local country but head office exercises tight control over itLimit customization of product offering and market strategyStrategy effective if firm faces weak pressures for local responsive and cost reductions Multidomestic strategyMain aim is maximum local responsivenessCustomize product offering, market strategy including production, and R&D according to national conditionsGenerally unable to realize value from experience curve effects and location economies Possess high cost structure企业寻求的是地区调适最大化往往在其从事业务的各主要国家的市场中建立一整套创造价值的活动，包括生产、营销及研究与开发难以通过经验曲线效应和区位经济来实现其价值高的成本构成Global strategyFocus is on achieving a low cost strategy by reaping cost reductions that come from experience curve effects and location economiesProduction, marketing, and R&D concentrated in few favorable functionsMarket standardized product to keep cost’s lowEffective where strong pressures for cost reductions and low demand for local responsiveness Semiconductor industry企业强调的是增加盈利能力，通过经验曲线效应及区位经济以做到成本的降低其生产、营销和研究与开发活动集中于若干个有利的区位全球企业喜欢在全世界销售标准化的产品，以便以基于规模经济的经验曲线获取最大的效益当成本降低的压力强烈而地区调适的要求最小时，这一战略最为有效半导体工业Transnational strategy跨国战略To meet competition firms aim to reduce costs, transfer core competencies while paying attention to pressures for local responsivenessGlobal learningValuable skills can develop in any of the firm’s world wide operationsTransfer of knowledge from foreign subsidiary to home country, to other foreign subsidiaries Transnational strategy is a difficult task due to contradictory demands placed on the organization Cost pressures and pressures for local responsiveness facing CaterpillarFig 12.7卡特彼勒公司面临的成本压力与地区调适压力Fig 12.7Advantages and disadvantages of the four strategies 四种战略的优缺点。