科尔尼咨询xxx集团战略报告
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科尔尼咨询公司-实现多元化集团的潜力最大化实现多元化集团的潜力最大化庄瑞豪*提要:本文从国际著名科尔尼咨询公司的视角,讨论如何通过内部管理发挥协同效应,通过外部谋划来寻找更有效的上市结构和融资渠道,最终实现多元化集团的潜力最大化。
近年来,随着中国企业的快速发展和并购规模的扩大,越来越多的企业走上了多元化道路。
与单一业务的企业相比,多元化集团在获取更多增长机会、实现规模效应、建立完整产业链等方面更有优势。
但是管理多元化业务也面临更多的挑战。
在欧美,七成以上的多元化企业由于缺乏有效的管理而最终失败。
为实现多元化企业的潜力最大化,管理者需要解决两个方面的问题。
对内来看,需要对子公司进行有效的管理,实现协同效应最大化,并建立和发展品牌价值。
对外而言,需要优化上市策略以提高融资能力、最大程度地吸引外部投资者,并实现资金的合理配置和利用,同时降低融资带来的其他风险。
一、对内——优化组织架构、管控模式及品牌战略1. 组织架构组织架构的选择应该适应业务发展的需要。
随着多元化程度的加深,集团组织架构从直线式的职能型逐渐演化出了事业部型和矩阵型。
(1)职能型职能型组织架构来自于管理上专业化分工的需要,把承担相同职能的管理工作和人员组合在一起,设置相应的管理部门,每个部门履行特定的管理职能,为整个组织服务。
比如采购部、营销与销售部、生产部、后勤部、人力资源部等等。
这种组织形式的优点在于能发挥职能部门的资源集中优势,保障资源有效供给。
专业化的组织方式有利于职能部门人员知识和技能的深度积累。
同时,职能部门内部专业人员有交流沟通的便利,有利于创造性的解决问题。
缺点在于,这种组织形式不利于跨部门的横向合作。
此外,这种组织对环境的变化反应较慢。
因此主要应用于产品种类较为单一、客户结构简单、经营环境稳定、技术变革缓慢的企业,如格力电器、海通证券、*科尔尼咨询公司(ATKearney)大中华区总裁,全球合伙人。
中国神华等。
(2)事业部型事业部按照产品线或地区设立,每个事业部内均有较完整的职能机构。
Perspectives on Life and Pension FundsIstanbul, June 4th 2002A.T. Kearney 18/ Data / Misc / ./CA/05 1Perspectives on Life and Pension funds - Agenda Market patterns Performance drivers Specificities of the Turkish market Implications in terms of strategy and transformationA.T. Kearney 18/ Data / Misc / ./CA/05 2Market patternsA.T. Kearney 18/ Data / Misc / ./CA/05 3Market patternsThis presentation addresses the long term savings strategic segment of the life insurance marketFinancial services strategicsegmentationEach segment is characterized by specific demand characteristics, competitive advantage drivers, supply structureInsurance SavingsLife insuranceProperty and casualtyAccident and • Personal accident insuranceHealth• Health insuranceLong term savings• Savings insurance • Pension fundsShort term savingsCash and Debt servicesLoans Cash servicesPresentation scopeA.T. Kearney 18/ Data / Misc / ./CA/05 4Market patternsGlobal Life and Pension funds markets are very diverse in terms of business environment A structural growth of Life and Pension funds markets • Aging of population mix • More constraints on States budget deficit A strong diversity of demand and regulatory environments• Customer preferencesBank deposits in % of savings (2000)47%32%24%15%10%Germany• Tax regimesFranceUKNetherlandsUS- various degrees of tax incentives for Life contracts and unit-linkedproducts- DIY pensions can be encouraged or not by the State tax regime• Regulatory regimes - no cross ownership restriction between banks and insurance companies in Europe (restriction in the US until 1999) - legislation which restricts non-independent advisors in the UKA.T. Kearney 18/ Data / Misc / ./CA/05 5Market patternsNational demand and regulatory environments translate into very different distribution channel mixLife Insurance – Distribution Channel Mix- 1999; % -Direct/other 4 Company employees 9591610102Tied Agents/ salesforce222627101024 41IFAs 4914245058Banks 6160505064 471330191210SpainFranceItalyBelgium Netherlands GermanyUSAUKSources: Italy – Ania; Spain – UNESPA; France - Moody’s ; AT Kearney Analysis; Germany - Datamonitor, Bank Vontobel;Netherlands - Datamonitor; Morgan Stanley Dean Witter, AT Kearney analysis; UK - Datamonitor;Morgan Stanley Dean Witter; Belgium – Assur; USA – Datamonitor, AT Kearney AnalysisA.T. Kearney 18/ Data / Misc / ./CA/05 6Market patternsChannel mix evolution shows a growth of banks in most markets but plateauing at different levelsBank Penetration of Life Insurance (%)70 60 50 5463 6160605960595650Spain France Belgium Italy404135302626302321202019191916 191910 12131511151211103 15NetherlandsGermany 21 Australia14 US 10 UK01994 1995 1996 1997 1998 1999 2000Bank Penetration of Mutual Funds (%)90807574707064606363508574 7263 605885 Belgium75 France Germany63 Spain 60 Italy40 3830242020262730 Netherlands 27 Australia100 199619977 19985US UK1999Source: A.T. Kearney analysisA.T. Kearney 18/ Data / Misc / ./CA/05 7Market patternsProduct mix is also very different between markets200060% 51%Share of unit linked productsin Life insurance(%)NetherlandsUK40%30%BelgiumItaly24%15%AustraliaSpain13% France5%3%USGermanyShare of equityproducts as a % oftotal savings52%45%NetherlandsUK24%22%BelgiumItaly45%24%AustraliaSpain45%17%14%FranceUSGermanyA.T. Kearney 18/ Data / Misc / ./CA/05 8Market patternsBased on business characteristics, we have defined a sophistication index to rank marketsCustomer preferences:% of total savings not in deposit(2000)Germany 53%Spain 58%France 68%Italy 77%Belgium 74%US 90%Australia 80%UKNetherlands76%85%Channelmix:IFApenetration of Life sales13%4%(1999)64%47%42%50%24%9%14%Product mix: Share ofunit-linked productsin Life insurance (%; 2000)Index3%0.2315%0.2613%0.3030%0.4040%0.465%0.4751% 24%0.490.6460%0.65Low sophistication• Risk averse customers, favoring less complex products and little need/desire for choice (driven mainly by tax incentives)Medium sophistication• Medium risk oriented customers, facing greater choiceHigh sophistication• Risk oriented customers, facing greater choice with need/desire for adviceA.T. Kearney 18/ Data / Misc / ./CA/05 9Banks have made greatest sophisticated marketsinroadsMarket patternsin lessBank penetration70%60%Spain €638b50% 40%Large share of banking in public cooperative institutions andFranceprotection-type life insurance €2 214bproducts make bankspenetration lowerItaly €1 064b30%Germany €2 668b20% 10%Banks prevented from competing in insurance until 1999Belgium €532bAustralia €725bMis-selling scandal accentuates importance ofquality advice, but polarisation legislation limits banks ability to compete on thisdimension0%US €40 535bUK €3 215b0.10.20.30.40.50.6Market sophistication (index)Netherlands €1 142b0.7Note: Circle size proportional to market size of total savings marketA.T. Kearney 18/ Data / Misc / ./CA/05 10。