企业战略管理_第6章cumw.pptx

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1、Chapter 6Strategy Analysis&ChoiceStrategic Management:Concepts&Cases11th EditionFred David1Copyright 2005 Prentice HallChapter OutlineThe Nature of Strategy&ChoiceA Comprehensive Strategy-Formulation FrameworkThe Input Stage2Copyright 2005 Prentice HallChapter Outline(contd)The Matching StageThe Dec

2、ision StageCultural Aspects of Strategy Choice3Copyright 2005 Prentice HallChapter Outline(contd)The Politics of Strategy ChoiceGovernance Issues4Copyright 2005 Prentice HallTo acquire or not to acquire,that is the question Robert J.TerryStrategy Analysis&ChoiceLife is full of lousy options General

3、P.X.Kelley5Copyright 2005 Prentice Hall-Establishing long-term objectives-Generating alternative strategies-Selecting strategies to pursue-Best alternative-achieve mission&objectives Nature of Strategy Analysis&ChoiceStrategy Analysis&Choice6Copyright 2005 Prentice HallnVisionnMissionnObjectivesnExt

4、ernal auditnInternal auditnPast successful strategiesStrategy Analysis&ChoiceAlternative Strategies Derive From-7Copyright 2005 Prentice HallStrategy Analysis&ChoiceGenerating Alternatives-Participation in generating alternative strategies should be as broad as possible8Copyright 2005 Prentice HallC

5、omprehensive Strategy-Formulation Framework9Copyright 2005 Prentice HallStrategy-Formulation Analytical FrameworkInternal Factor EvaluationMatrix(IFE)External Factor EvaluationMatrix(EFE)Competitive Profile Matrix(CPM)10Copyright 2005 Prentice HallStage 1:The Input StageBasic input information for t

6、he matching&decision stage matricesRequires strategists to quantify subjectivity early in the processGood intuitive judgment always needed11Copyright 2005 Prentice HallStrategy-Formulation Analytical FrameworkSWOT MatrixSPACE MatrixBCG MatrixIE MatrixGrand Strategy Matrix12Copyright 2005 Prentice Ha

7、llStage 2:The Matching StageMatch between organizations internal resources&skills and the opportunities&risks created by its external factors13Copyright 2005 Prentice HallStage 2:The Matching StageStrengthsWeaknessesOpportunitiesThreatsSWOT Matrix14Copyright 2005 Prentice HallSWOT MatrixStrengths-Op

8、portunities(SO)Weaknesses-Opportunities(WO)Strengths-Threats(ST)Weaknesses-Threats(WT)Four Types of Strategies15Copyright 2005 Prentice HallSO StrategiesUse a firmsinternal strengthsto take advantageof external opportunitiesStrengthsWeaknessesOpportunitiesThreatsSWOT16Copyright 2005 Prentice HallWO

9、StrategiesImproving internalweaknesses bytaking advantageof externalopportunitiesStrengthsWeaknessesOpportunitiesThreatsSWOT17Copyright 2005 Prentice HallST StrategiesUse a firms strengthsto avoid orreduce the impactof externalthreatsStrengthsWeaknessesOpportunitiesThreatsSWOT18Copyright 2005 Prenti

10、ce HallWT StrategiesDefensive tacticsaimed at reducinginternal weaknesses&avoidingenvironmentalthreatsStrengthsWeaknessesOpportunitiesThreatsSWOT19Copyright 2005 Prentice HallSWOT MatrixDeveloping the SWOT List firms key internal StrengthsList firms key internal WeaknessesList firms key external Opp

11、ortunitiesList firms key external Threats20Copyright 2005 Prentice HallSWOT MatrixLeave BlankStrengths SList StrengthsWeaknesses W List WeaknessesOpportunities O List OpportunitiesSO StrategiesUse strengths to take advantage of opportunitiesWO StrategiesOvercoming weaknesses by taking advantage of o

12、pportunitiesThreats T List ThreatsST StrategiesUse strengths to avoid threatsWT Strategies Minimize weaknesses and avoid threats21Copyright 2005 Prentice HallDevelop a new employee benefits package=Strong union activity(threat)+Poor employee morale(weakness)Develop new products for older adults=Decr

13、easing numbers of young adults(threat)+Strong R&D(strength)Pursue horizontal integration by buying competitors facilities=Exit of two major foreign competitors from the industry(opportunity)+Insufficient capacity(weakness)Acquire Cellfone,Inc.=20%annual growth in the cell phone industry(opportunity)

14、+Excess working capacity(strength)Key Internal FactorKey External FactorResultant StrategyMatching Key Factors to Formulate Alternative Strategies22Limitations with SWOT MatrixnDoes not show how to achieve a competitive advantagenProvides a static assessment in timenMay lead the firm to overemphasiz

15、e a single internal or external factor in formulating strategies23Copyright 2005 Prentice HallStrategy-Formulation Analytical FrameworkSWOT MatrixSPACE MatrixBCG MatrixIE MatrixGrand Strategy Matrix24Copyright 2005 Prentice HallSPACE MatrixStrategic Position&Action Evaluation MatrixAggressiveConserv

16、ativeDefensiveCompetitive25Copyright 2005 Prentice HallSPACE MatrixTwo Internal DimensionsFinancial Strength(FS)Competitive Advantage(CA)26Copyright 2005 Prentice HallSPACE MatrixTwo External DimensionsEnvironmental Stability(ES)Industry Strength(IS)27Copyright 2005 Prentice HallSPACE FactorsEnviron

17、mental Stability(ES)Technological changesRate of inflationDemand variabilityPrice range of competing productsBarriers to entryCompetitive pressurePrice elasticity of demandEase of exit from market Risk involved in businessFinancial Strength(FS)Return on investmentLeverageLiquidityWorking capitalCash

18、 flowExternal Strategic PositionInternal Strategic Position28SPACE FactorsIndustry Strength(IS)Growth potentialProfit potentialFinancial stabilityTechnological know-howResource utilizationEase of entry into marketProductivity,capacity utilizationCompetitive Advantage CAMarket shareProduct qualityPro

19、duct life cycleCustomer loyaltyCompetitions capacity utilizationTechnological know-howControl over suppliers&distributorsExternal Strategic PositionInternal Strategic Position29Steps to Developing a SPACE Matrix1.Select a set of variables to define FS,CA,ES,&IS2.Assign a numerical value:1.From+1 to+

20、6 to each FS&IS dimension2.From-1 to-6 to each ES&CA dimension3.Compute an average score for each FS,CA,ES,&IS30Copyright 2005 Prentice HallSteps to Developing a SPACE Matrix1.Plot the average score on the appropriate axis2.Add the two scores on the x-axis and plot the point.Add the two scores on th

21、e y-axis and plot the point.Plot the intersection of the new xy point3.Draw a directional vector from the origin through the new intersection point.31Copyright 2005 Prentice HallSPACE MatrixFS+6+1+5+4+3+2-6-5-4-3-2-1-6-5-4-3-2-1+1+2+3+4+5+6ESCAISConservativeAggressiveDefensiveCompetitive32Strategy-F

22、ormulation Analytical FrameworkSWOT MatrixSPACE MatrixBCG MatrixIE MatrixGrand Strategy Matrix33Copyright 2005 Prentice HallBCG MatrixBoston Consulting Group MatrixEnhances multi-divisional firm in formulating strategiesAutonomous divisions=business portfolioDivisions may compete in different indust

23、riesFocus on market-share position&industry growth rate34Copyright 2005 Prentice HallBCG MatrixRelative Market Share PositionRatio of a divisions own market share in an industry to the market share held by the largest rival firm in that industry35Copyright 2005 Prentice HallBCG MatrixDogsIVCash Cows

24、IIIQuestion MarksIStarsIIRelative Market Share PositionHigh1.0Medium.50Low0.0Industry Sales Growth RateHigh+20Low-20Medium036BCG MatrixQuestion MarksLow relative market share compete in high-growth industryCash needs are highCase generation is lowDecision to strengthen(intensive strategies)or divest

25、37Copyright 2005 Prentice HallBCG MatrixStarsHigh relative market share and high growth rateBest long-run opportunities for growth&profitabilitySubstantial investment to maintain or strengthen dominant positionIntegration strategies,intensive strategies,joint ventures38Copyright 2005 Prentice HallBC

26、G MatrixCash CowsHigh relative market share,competes in low-growth industryGenerate cash in excess of their needsMilked for other purposesMaintain strong position as long as possibleProduct development,concentric diversificationIf weakensretrenchment or divestiture39Copyright 2005 Prentice HallBCG M

27、atrixDogsLow relative market share&compete in slow or no market growthWeak internal&external positionLiquidation,divestiture,retrenchment40Copyright 2005 Prentice HallStrategy-Formulation Analytical FrameworkSWOT MatrixSPACE MatrixBCG MatrixIE MatrixGrand Strategy Matrix41Copyright 2005 Prentice Hal

28、lThe Internal-External MatrixnPositions an organizations various divisions in a nine-cell displaynSimilar to BCG Matrix except the IE Matrix:qRequires more information about the divisionsqStrategic implications of each matrix are different42Copyright 2005 Prentice Hall43Copyright 2005 Prentice HallI

29、E MatrixnBased on two key dimensionsqThe IFE total weighted scores on the x-axisqThe EFE total weighted scores on the y-axisnDivided into three major regionsqGrow and build Cells I,II,or IVqHold and maintain Cells III,V,or VIIqHarvest or divest Cells VI,VIII,or IX44Copyright 2005 Prentice Hall45Copy

30、right 2005 Prentice HallStrategy-Formulation Analytical FrameworkSPACE MatrixBCG MatrixIE MatrixSWOT MatrixGrand Strategy Matrix46Copyright 2005 Prentice HallGrand Strategy MatrixTool for formulating alternative strategiesBased on two dimensionsCompetitive positionMarket growth47Copyright 2005 Prent

31、ice HallQuadrant IV1.Concentric diversification2.Horizontal diversification3.Conglomerate diversification4.Joint venturesQuadrant III1.Retrenchment2.Concentric diversification3.Horizontal diversification4.Conglomerate diversification5.LiquidationQuadrant I1.Market development2.Market penetration3.Pr

32、oduct development4.Forward integration5.Backward integration6.Horizontal integration7.Concentric diversificationQuadrant II1.Market development2.Market penetration3.Product development4.Horizontal integration5.Divestiture6.LiquidationRAPID MARKET GROWTHSLOW MARKET GROWTHWEAK COMPETITIVE POSITIONSTRO

33、NGCOMPETITIVE POSITION48Grand Strategy MatrixExcellent strategic positionConcentration on current markets/productsTake risks aggressively when necessaryQuadrant I 49Copyright 2005 Prentice HallGrand Strategy MatrixEvaluate present approachHow to improve competitivenessRapid market growth requires in

34、tensive strategyQuadrant II50Copyright 2005 Prentice HallGrand Strategy MatrixCompete in slow-growth industriesWeak competitive positionDrastic changes quicklyCost&asset reduction(retrenchment)Quadrant III51Copyright 2005 Prentice HallGrand Strategy MatrixStrong competitive positionSlow-growth indus

35、tryDiversification to more promising growth areasQuadrant IV52Copyright 2005 Prentice HallStrategy-Formulation Analytical FrameworkQuantitative StrategicPlanning Matrix(QSPM)53Copyright 2005 Prentice HallQSPMTechnique designed to determine the relative attractiveness of feasible alternative actionsQ

36、uantitative Strategic Planning Matrix54Copyright 2005 Prentice HallQSPMKey Internal FactorsManagementMarketingFinance/AccountingProduction/OperationsResearch and DevelopmentComputer Information SystemsStrategy 3Strategy 2Strategy 1WeightKey External FactorsEconomyPolitical/Legal/GovernmentalSocial/C

37、ultural/Demographic/EnvironmentalTechnologicalCompetitiveStrategic Alternatives55Steps to Develop a QSPM1.Make a list of the firms key external opportunities/threats and internal strengths/weaknesses in the left column2.Assign weights to each key external and internal factor3.Examine the Stage 2(mat

38、ching)matrices,and identify alternative strategies that the organization should consider implementing56Copyright 2005 Prentice HallSteps to Develop a QSPM4.Determine the Attractiveness Scores5.Compare the Total Attractiveness Scores6.Compute the Sum Total Attractiveness Score57Copyright 2005 Prentic

39、e Hall建立建立QSPM的六步骤的六步骤 n在QSPM的左栏列出公司的关键外部机会与威胁、内部优势与弱点 n给每个外部及内部关键因素赋予权重。n考察匹配阶段各矩阵并确认企业可考虑实施的备选战略。n确定吸引力分数(AS):Attractiveness Scores n计算吸引力总分(TAS):Total Attractiveness Scores n计算吸引力总分和(STAS)。58Copyright 2005 Prentice HallQSPMRequires intuitive judgments&educated assumptionsOnly as good as the prere

40、quisite inputsLimitations59Copyright 2005 Prentice HallQSPMSets of strategies considered simultaneously or sequentiallyIntegration of pertinent external&internal factors in the decision making processAdvantages60Copyright 2005 Prentice HallCultural Aspects of Strategy ChoiceSuccessful strategies dep

41、end on the degree of consistency with the firms cultureOrganization Culture61Copyright 2005 Prentice HallPolitics of Strategy ChoiceManagement hierarchyCareer aspirationsAllocation of scarce resourcesPolitics in Organizations62Copyright 2005 Prentice HallPolitics of Strategy ChoiceEquifinalitySatisf

42、yingGeneralizationHigher-order issuesPolitical access on important issuesPolitical Tactics for Strategists63Copyright 2005 Prentice HallGovernance IssuesControl&oversight over managementAdherence to legal prescriptionsConsideration of stakeholder interestsAdvancement of stockholder rightsBoard of Di

43、rectors Roles&Responsibilities64Copyright 2005 Prentice HallCorporate Governance Issues1.No more than 2 directors are current or former company 2.executives3.2.No directors do business with the company4.3.Audit,compensation,and nominating committees made upof outside directors5.4.Each director owns

44、a large equity stake in the company 6.5.At least one outside director with extensive experience 7.6.Fully employed directors sit on no more than 4 boards 8.Retirees on no more than 7 9.7.Each director attends at lest 75%of all meetings Business Weeks“Principles of Good Governance”65Copyright 2005 Pr

45、entice HallCorporate Governance Issues8.Board meets regularly without management present9.Audit committee meets at least four times a year 10.Board is frugal on executive pay,diligent in CEO succession,and prompt to act when trouble arises 11.CEO is not also the Chairperson of the Board12.Shareholde

46、rs have considerable power and information to choose&replace directors13.Stock options are considered a corporate expense14.No interlocking directorshipsBusiness Weeks“principles of good governance”66Copyright 2005 Prentice HallKey Terms&ConceptsFor Review(Chapter 6)Aggressive QuadrantBusiness Portf

47、olioAttractiveness Scores(AS)Cash CowsBoards of DirectorsCompetitive Advantage(CA)Boston ConsultingGroup(BCG)MatrixCompetitive Quadrant67Copyright 2005 Prentice HallKey Terms&ConceptsFor Review(Chapter 6)Conservative QuadrantDogsCultureEnvironmental Stability(ES)Defensive QuadrantFinancial Strength(

48、FS)Directional VectorGovernance68Copyright 2005 Prentice HallKey Terms&ConceptsFor Review(Chapter 6)Grand Strategy MatrixInternal-External(IE)MatrixHalo ErrorMatchingIndustry Strength(IS)Matching StageInput StageQuantitative StrategicPlanning Matrix(QSPM)69Copyright 2005 Prentice HallKey Terms&Conce

49、ptsFor Review(Chapter 6)Question MarksStarsRelative Market SharePositionStrategic Position&ActionEvaluation(SPACE)SO StrategiesSum Total AttractivenessScore(STAS)ST StrategiesSustainability70Copyright 2005 Prentice HallKey Terms&ConceptsFor Review(Chapter 6)Total AttractivenessScores(TAS)WO StrategiesWT StrategiesStrengths,WeaknessesOpportunities,Threats SWOT71Copyright 2005 Prentice Hall