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工商管理专业MBALectureBusiness+Level+StrategyLecture+Five03

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工商管理专业MBALectureLecture06共18页

工商管理专业MBALectureLecture06共18页
•Consolidation:
•In growing market, company expands with market to maintain share of market •In mature market more difficult challenges, tendency is for emphasis on cost, quality of product or service. Competitors are all seeking to consolidate there positions
Dr Ita O'Donovan Beechgrove Associates
6
Some reasons for unrelated diversification
Possible Advantages
1. Need to use excess cash or safeguard profits
2. Personal values or objectives of powerful figures
– What is the optimal number of businesses for the firm – Should we stay in this business
– How should our businesses be managed – How is the corporation going to operate as a whole
Possible es
1. Control of supplies Quantity Quality
Price 2. Control of markets
3. Access of information

工商管理专业MBALectureLecture06ppt课件

工商管理专业MBALectureLecture06ppt课件
separately – Export drive – Outsourcing to other countries for costs of labour, transport supplies.
Dr Ita O'Donovan Beechgrove Associates
11
Portfolio Analysis
COMPETITIVE ADVANTAGE How should we
compete?
Dr Ita O'Donovan Beechgrove Associates
CORPORATE STRATEGY
BUSINESS STRATEGY
3
Strategies
Diversification two broad types: Related diversification is development beyond the present product
• There is an established relationship between market power and performance in commercial organisations.
Dr Ita O'Donovan Beechgrove Associates
6
Strategies continued
•Consolidation
In declining markets; need to consider significant changes e.g. Buying up the order books of those leaving the market, distributors may need to find new suppliers. New internal agreements to main competitive edge. During a transition form a mature to a declining market, they might consider harvesting i.e. gaining maximum pay off from strong position. e.g. Licensing of technology, or distribution rights, or leasing facilities. Difficult decision whether to remain in market where there is product decline but chance of recovery

工商管理专业MBALectureLecture0618页PPT

工商管理专业MBALectureLecture0618页PPT

6. Spreading Risk 7. Resource Utilisation
Avoid overreliance on one product/market, but build on related experience
Under-utilised manufacturer acquires company with compatible products to fill capacity
Strategies continued
•Consolidation
In declining markets; need to consider significant changes e.g. Buying up the order books of those leaving the market, distributors may need to find new suppliers. New internal agreements to main competitive edge. During a transition form a mature to a declining market, they might consider harvesting i.e. gaining maximum pay off from strong position. e.g. Licensing of technology, or distribution rights, or leasing facilities. Difficult decision whether to remain in market where there is product decline but chance of recovery

工商管理专业MBALectureLecture1014070--资料

工商管理专业MBALectureLecture1014070--资料
systems and educated workforce
Beechgrove Associates
6
Beechgrove Associates
7
Average Scientists & Engineers in R&D (per mil
persons)
5000
Average Total R&D Expenditure: Top 20 Economies 1997 - 2000 (Bil of International $)
Factors of production: the inputs necessary to compete in any industry
labor land natural resources capital infrastructure basic factors include natural and labor resources advanced factors include digital communication
High
Global strategy
Transnational strategy
Need for Global Integration
Multidomestic strategy
Low
Low
High
Need for Local Responsiveness
Beechgrove Associates
markets
• Requires resource sharing and
coordination across borders (which also
makes it difficult to Beechgrove Associates manage)

工商管理专业MBALectureBusiness+Level+StrategyLecture+Five03

工商管理专业MBALectureBusiness+Level+StrategyLecture+Five03
Perceived added value by user, yielding market share benefits
Perceived added value sufficient to bear price premium Perceived added value to a particular segment, warranting price premium Higher margins if competitors do not follow/risk of losing market share Only feasible in monopoly situation
•A.D. Chandler Jr. ( 1969) ‘The structure of American Industry in the twentieth Century: a historical overview’. Business History Review Vol 43. 255-298
Some Fundamentals continued
At the business level of the industry five forces are considered to threaten or advantage the firm:
These are:
Entry barriers Rivalry between industry incumbents Substitute products or services The bargaining power of suppliers
along a dimension valued by buyers
A focus strategy: choice of narrow scope within an industry, a

【工商管理专业 MBA Lecture 】Lecture_06

【工商管理专业 MBA Lecture 】Lecture_06
•Assets can change over time, may need to dispose, acquire others etc. •Entrepreneur may have achieved goals wishes to move on acquire different things.
– What is the optimal number of businesses for the firm – Should we stay in this business
– How should our businesses be managed – How is the corporation going to operate as a whole
Dr Ita O'Donovan Beechgrove Associates
6. Spreading Risk 7. Resource Utilisation
6
Some reasons for unrelated diversification
Possible Advantages 1. Need to use excess cash or safeguard profits 2. Personal values or objectives of powerful figures 3. Exploiting underutilised resources 4. Escape from present business 5.Spreading risk Examples/Comments Buying a tax loss situation Personal image locally or nationally may be a strong motive Farmers use fields for camp sites, festivals Companies hire their conferences facilities A company’s products may be in decline and unrelated diversification is the only escape Some companies believe it is good sense to have ‘all their eggs in one basket’.

工商管理专业MBALecture英文版


A Framework: Language of Strategy
Mission Goal Objective Strategies Action/tasks Control
Rewards
Key Statement of intent in line with values and expectation of Stakeholders General Statement of aim or purpose Quantification of precise statement of goal Broad categories of action to achieve objectives Individual steps to implement strategies ( may be operational)
• These are the what is affecting us questions, understanding where the business is currently positioned, what changes are taking place, what do our stakeholders want; what are the unions concerned with. How might this affect the present and future position?
Aspects of Strategic analysis
The Environment
Organisational Culture
Strategic Analysis
Strategic Capability
Stakeholders expectations

工商管理专业MBALectureLecture1014070.ppt


regions
• Focus on competition in each market
• Prominent strategy among European firms
due to broad variety of cultures and markets
in Europe
Beechgrove Assoctes
11
International Business-Level Strategy:
Determinants of National Advantage
▪ Firm strategy, structure, and rivalry: the pattern of strategy, structure, and rivalry among firms
2
Opportunities and Outcomes of
International Strategy
Use Core Competence
Modes of Entry
Management
Strategic Competitiveness Outcomes
Exporting
problems and risk
High
Global strategy
Transnational strategy
Need for Global Integration
Multidomestic strategy
Low
Low
High
Need for Local Responsiveness
Beechgrove Associates
strategy
(SBU) in each country

工商管理专业MBALectureBusiness+Level+StrategyLecture+Five03-17页PPT精品文档

2. Low Price: very difficult
3. Hybrid: added value while keeping prices down suggest Japanese firms doing this for years and IKEA the Swedish furniture and household goods company.
segments or group of segments become the focus to the exclusion of others
Competitive advantage
Lower Cost
Broad Target 1.
Cost Leadership
COMPETITIVE SCOPE
Requires also relative market share advantage can assist cost through economies of scale ( still caution here)
We know how difficult it is to sustain both market share advantage and cost advantage.
•Douglass C. North received a Nobel Prize for stressing the role of institutions in shaping organisational environments and organisations themselves.
•D.C. North ((1990) Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press.

工商管理专业MBALectureLecture06.ppt

•Consolidation:
•In growing market, company expands with market to maintain share of market •In mature market more difficult challenges, tendency is for emphasis on cost, quality of product or service. Competitors are all seeking to consolidate there positions
Fully integrated steel plants save cost on reheating and transport
Accountancy Firms moving into tax advice or corporate recovery Transfer to similar technical requirements in another field
Strategies continued
•Consolidation
In declining markets; need to consider significant changes e.g. Buying up the order books of those leaving the market, distributors may need to find new suppliers. New internal agreements to main competitive edge. During a transition form a mature to a declining market, they might consider harvesting i.e. gaining maximum pay off from strong position. e.g. Licensing of technology, or distribution rights, or leasing facilities. Difficult decision whether to remain in market where there is product decline but chance of recovery
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Perceived added value by user, yielding market share benefits
Perceived added value sufficient to bear price premium Perceived added value to a particular segment, warranting price premium Higher margins if competitors do not follow/risk of losing market share Only feasible in monopoly situation
discuss those theorists who come to the debate from a resources perspective (inside- out) . Resource theorists point to the internally generated competencies.
Business level Strategy
Dr Ita O’Donovan Lecture Five
Some Fundamentals
•Alfred. D. Chandler, Jr. Received the Pulitzer prize for his work which demonstrated the evolutionary and historical nature of change and its effect on businesses.
•Douglass C. North received a Nobel Prize for stressing the role of institutions in shaping organisational environments and organisations themselves.
•D.C. North ((1990) Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge Universon
must think about from whom the firm is differentiating. What is the basis for the differentiation Differentiation is likely to be about more than cost and quality. For example, ambience of business, location of business, price options
Source: Michael E.Porter, (1990) The Competitive Advantage of Nations: New York Free Press
What we are looking at
We are going to examine competitive advantage and also
2. Low Price: very difficult
3. Hybrid: added value while keeping prices down suggest Japanese firms doing this for years and IKEA the Swedish furniture and household goods company.
segments or group of segments become the focus to the exclusion of others
Competitive advantage
Lower Cost
Broad Target 1.
Cost Leadership
COMPETITIVE SCOPE
Cost leadership has a chance when used by a few firms not much if used for industry wide.
Need to be aware that cost based strategies generally problematic. Competitive Advantage can only be achieved in terms of a product or service by the user as having an advantage over competition
exploit cost advantage, no frills, scale and cost emphasis
A differentiation strategy: seek uniqueness in the market
along a dimension valued by buyers
A focus strategy: choice of narrow scope within an industry, a
Requires also relative market share advantage can assist cost through economies of scale ( still caution here)
We know how difficult it is to sustain both market share advantage and cost advantage.
Strategy Clock
High
Hybrid 3
Low
Price
2
Low price Added value
1
Low
Differentiation 4
8
Price
Focused 5 Differentiation
6
7 6,7,8 destined to fail
High
Competitive Strategy Options
secrets) Organisational processes seen as very important Competences seen as distinctive emphasised over physical assets, Long term development of competences, caution need to remain flexible also Current routines, learning, practice, technologies, customer base, relationship
Differentiation
Differentiation in terms of price, means a higher price, an offer
that is of greater value than the competition. However one needs to consider that a firm may wish to offer a differentiated product at a similar price to competitors to gain increase in market share and volume.
The firm is seen as a bundle of firm- specific capabilities and assets Knowledge which the firm has is difficult to imitate ( tacit knowledge and trade
with suppliers. (Teece, et al 2019) Alignment of capacity and competencies are essential in this approach
Competitive Advantage
We are concerned with what methods the business is going to utilise to gain and sustain competitive advantage: Some key Principles: A cost leadership strategy: low cost producer in the industry,
Needs and Risks Likely to be segment specific Risk of price war and low margins/need to be cost leader Low cost base and reinvestment in low price and differentiation
Narrow Target 3A
Cost Focus
Differentiation
2. Differentiation
3B Differentiation Focus
Some Problems
Sustainable Cost Leadership: means lowest cost overtime against competitors.
•A.D. Chandler Jr. ( 1969) ‘The structure of American Industry in the twentieth Century: a historical overview’. Business History Review Vol 43. 255-298
Strategies 1. Low price/low added value 2. Low Price
3. Hybrid