MIT-复旦IMBA战略PPT.ppt

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1、2023/5/18MIT-复旦复旦IMBA战略战略PPTCLASSOVERVIEW2COURSE OVERVIEWWE TRY TO INTRODUCE THE BASIC CONCEPTS,FRAMEWORKS AND METHODOLOIES USEFUL TO MANAGERS FORMULATING AND IMPLEMENTING BOTH BUSINESS UNIT AND CORPORATE LEVEL STRATEGY.PROBLEM SOLVING DRIVEN THAN TRADITIONAL THEORETICAL DRIVENLECTURE,CASE STUDY,GUE

2、ST SPEAKER,TEAM PROJECT TOGETHEROVERVIEW3READINGS AND TEXTBOOKSharon M.Oster,“Modern Competitive Analysis”Michael A.Hitt,R Duane Irelandand Robert E.Hoskisson “Strategic Management”Readings and CasesOVERVIEW4GRADINGThe class will graded as follows:Class participation 30%Group project 20%Written assi

3、gnments 20%Final exam 30%OVERVIEW5CLASS PARTICIATION Offering your analysis of the strengths and weaknesses of the readings central argument.Identifying the key issues,problems and opportunities facing the central protagonist,to articulate and evaluate alternative approaches to the problems,and to d

4、escribe the course of action that you recommend and the reasons for your recommendations.OVERVIEW6TO BE A GOOD PARTICIPANTIs the participant a good listener?Are the point made relevant to the discuss?Are they linked to the comments of others that the class is exploring together?Do the comments add t

5、o our understanding of the situation?Are they incisive?Do they cut to the core the problem?Is there a willingness to challenge the ideas that are being expressed?Is there a willingness to test new idea,or are all comments”safe”?Does the participant integrate material from past classes or the reading

6、s where appropriate?So the comment reflect cumulative learning over the course,or does the participant merely consider each case in isolation?OVERVIEW7STUDY GROUP&GROUP PROJECTEach group-5-6 studentsGroup project is for you to formulate a strategy for a particular company and a division in a company

7、.Group project should be a real caseWriting report plus presentationOVERVIEW8CLASSONE9INTEGRATED MARETINGPhilosophy marketingStrategy marketingMarketing mixtureCLASSONE10THE ROLE STRATEGY IN SUCCESSGoal are simple,consistent and long termProfound understanding of the competitive environmentObjective

8、 appraisal of resourcesEffective implementationCLASSONE11THE BASIC HISTORY OF STRATEGYOrigin and military antecedentsToward a general theory of strategyThe development of business strategyThe role of competition and quest for competitive advantageThe evolution of the strategyCLASSONE12THE HISTORY OF

9、 BUSINESS STRATEGYPre-1950s-”Business police”:general management and leadership skill1950s-1960s-budget control and long-term detailed planing methods stressed1960s-1970s-corporate diversification,portfolio planning1970s-1980s-decline of formal planning system;Porter analysis of industries and compe

10、tition;search for profitable niches and industries;run from tough competition1980s-1990s-emphases on cultivating organizational capabilities rather than just positioning:notion that firms can create their own good fortuneCLASSONE13THE FALLACIES OF STRATEGIC PLANNINGThe fallacy of predictionThe falla

11、cy of detachmentThe fallacy of formalizationCLASSONE14SOME KEY POINTS FROM THE STRATEGY HISTORYCompetition provides the rationale for strategycompetition occurs whenever resources are finite and competitors objectives are mutually inconsistentOur priority in strategy formulation will be less on”play

12、ing competitive games”through anticipating competitors move and engaging in bluff and counter bluff,threat and deterrence,and much more on seeking insulation from the uncertainties of competitive interaction by establishing a position of sustainable advantage over rivals.Strategy is a deliberate sea

13、rch for a plan of action that will develop a businesss competitive advantage and compound itCLASSONE15THE DIFFERENT CONCEPTS OF STRATEGIESStrategy as PlanStrategy as PloyStrategy as PatternStrategy as PositionStrategy as PerspectiveCLASSONE16THE ROLE OF STRATEGYStrategy as a support for decision mak

14、ingStrategy as a vehicle for coordination and communicationStrategy as target CLASSONE17STRATEGIESCooperate strategyBusiness strategyFunctional strategyCLASSONE18THE STRATEGY MAKING PROCESSSCriticism of the “Rationalist”approachStrategy making as“Crafting”Strategy intent CLASSONE19STRATEGY SPECTRUMD

15、eliberate Strategy Emergent StrategyAnalytical “Crafting”Formal Planning Pattern of actionInflexible flexibleincremental change Radical change possibleCLASSONE20QUESTIONS TO DISCUSSION1.Whyaretheredifferentdefinitionsof“strategy”?Howdotheyrelatetoeachother?2.Howhasthefieldofstrategyevolvedoverthepas

16、tseveraldecades?Howhavetheemphaseschanged?3.WhatarethefeaturesofasuccessfulstrategyaccordingtoGrant?4.HowdoesMintzbergviewstrategy?Whatishismajorargument?Doyouagree?5.Howdoes“strategicintent”differfrom“strategicplanning”?6.WhatdoHamelandPrahaladcriticizeaboutcommonapproachestostrategyinU.S.firms?CLA

17、SSONE21CLASSTWO22SOCIETAL ENVIRONMENTEconomic environmentTechnological environmentPolitical-Legal environmentSociocultural environmentCLASSTWO23TASK ENVIRONEMENTMarketing analysisCompetitor analysisSupplier analysisGovernmental analysisCommunity analysisInterest group analysisCLASSTWO24INDUSTRY ANAL

18、YSIS-COMPETITIVE ANALYSISIndustry Rivalryamong existing competitorsSubstitutePotential entrantSupplier powerBuyer powerCLASSTWO25Rivalry(Intensity of competition)Intense rivalry reduces average profitabilityCoordination on prices can increase total profits within an industryWhere coordination yields

19、 excess profits,there are incentives to shade(cut)prices a bit to increase market shareLarge number of competitors reduce coordination opportunitiesRivalry usually more intense if firms are of the same sizeCLASSTWO26The more similar firms are,the easier will be coordination Industries with substanti

20、al specific assets exhibit high barriers to exit and thus intensified rivalryVariability in demand(and supply)creates more rivalry in an industry,and can make flexibility more important,giving an advantage to small or more flexiblefirmsRivalry(Intensity of competition)CLASSTWO27SUBSTITUTESPresence o

21、f good substitutes limits profitsCross-elasticity of demand a factor in this CLASSTWO28BUYERESNumber of buyers and the size/distribution of their purchase critical:Large number of buyers with small purchases reduces buyer powerStandardization of products increase buyer power,usually,because they can

22、 play off one supplier against anotherWhen buyer integrate backward to produce some of the good themselves,this can increase their bargaining powerThe more open transactions are,the more power buyers have because this reduces search costs for producers CLASSTWO29SUPPLIERSLarge number of suppliers re

23、duces supplier powerStandardization of products reduces supplier powerThreat of backward integration by buyers reduces supplier powerMore open information reduces supplier powerCLASSTWO30CASE STUDY QUESTIONS(CC&C)Is this an“attractive”industry?What has been Crown Cork s strategy under Connelly?Has i

24、t been successful?What kinds of strategies have CC&Ss competitors followed?Why?Have they been successful?What are CC&Ss organizational competencies?How are they developed?How are they supported by the firms functional strategies?Why wasnt CC&Ss strategy widely imitated?What are the major problems fa

25、cing Crown Cork and what recommendations would you make to management?CLASSTWO31THE LESSONS FROM CROWN CORK&SEALProfitable segments and competitive positions exist even in unattractive industries.Entrepreneurial insight versus conventional wisdom criticalCombining low cost(efficiency)with differenti

26、ation(service,flexible)with focus(not a full-line packaging producer)CLASSTWO32THE LESSONS FROM CROWN CORK&SEALImplementation critical-functional strategies to support competitive positioning,and development of unique capabilities-thats why imitation was difficult.Knowledgable individuals and leader

27、ship matter at lot.Leadership and implementation of strategy are as critical as having a good strategy.CLASSTWO33THE LESSONS FROM CROWN CORK&SEALChange 5 forces in the industry,such as from technological innovation,can hamper a successful strategy.(e.g.Growth of substitute,new product design,new ent

28、rant from self-manufacture,regulation)CLASSTWO34THE LESSONS FROM CROWN CORK&SEALThe optimal strategy can change over time.CC&S was so successful that it later made sense to buy out competitors and take more advantage of scale opportunities.It also decided to diversify into other packaging as cans be

29、came less attractive (first went into aluminum,and then plastics through acquisition)CLASSTWO35THE LESSONS FROM CROWN CORK&SEALBe careful about where scale is important (e.g.Plant level Vs.Company level)CLASSTWO36CLASSTHREE37BARRIERS TO ENTRY/POTENTIAL ENTRYWhat Porter leaves out:Government also aff

30、ects industry profitability and rivalry by regulation,anti-trust laws,trade agreementsHistory and institutions also affect profitability:Some firms in some industries in some countries are better at coordinating and exchanging information,such as through informal means or trade associationsCLASSTHRE

31、E38ENTRY BARRIERSExpectation of incumbent reactions influence entry.The size of payoffs influences entry.Exit costs influence the rate of entry.CLASSTHREE39FORECASTINGExtrapolation.BrainstormingScenario writingSynthesis of external strategy factors -EFASCLASSTHREE40Do a five forces analysis of the b

32、ricks andmortar book retailing industry.Was this anattractiveindustry?How does Amazons entry changethe nature ofthe book retailing industry?Is it more or lessattractivenow?Analyze B&Ns move on-online.Would yourecommend they to things differently?Whatshouldtheydonow?Why?RepeatthisanalysisforACLASSTHR

33、EECASE STUDY QUESTIONS Barnes&Noble vs A 41Lessons of A vs.Barnes and N Takeadynamicviewofthe5ForcesCompetitionisnotonlyaroundpriceTheInternetmayhavepermanentlychangedthenatureofcompetitioninsomemarketsTherefore,e-commercemarketsaresomewhatdifferentBute-commercemarketsarenotcompletelydifferentStrate

34、gy,capabilities,andimplementation,aswellasindustrystructureandchangedynamicsallmatterCLASSTHREE42CLASSFOUR43RESOURCEFinancialResourcePhysicalResourceVisible ResourceSkilledPeopleTeamWorkMoti-vationHuman ResourceTechnologyResourceReputationInvisible ResourceResourceCLASSFOUR44RESOURCE-BASED COMPETITI

35、VE ADVANTAGEImitabilityReplicabilityTransferabilityTransparencyDurabilityCompetitive AdvantageResource(VRIO framework)ValueRarenessImitabilityOrganizationResourceSustainabilityCLASSFOUR45RESOURCESRESOURCESSlow-cycleresourcesSTANDARDCYCLERESOURCESFAST-CYCLERESOURCECLASSFOUR46A RESOURCE-BASED APPROACH

36、 TO STRATEGYresourcescapabilitiesCompetitive advantagesStrategic goalResource gaps between the need and realityCLASSFOUR47APPROACHES TO INTERNAL ANALYSISPIMS AnalysisValue Chain AnalysisFunctional AnalysisSynthesis of internal strategic factors -IFAS CLASSFOUR48TYPICAL VALUE CHAIN FOR A MANUFACTURED

37、 PRODUCTRetailerRawMaterialsDistributorPrimaryManufac-turingFabricationProductProducerCLASSFOUR49A CORPORATIONS VALUE CHAIN ProfitMarginInboundLogistics(rawmaterialshandlingandwarehousing)Operations(matching,assembling,testing)OutboundLogistics(warehousinganddistributionoffinishedproduct)Marketingan

38、d Sales(advertising,promotion,pricing,channelrelations)Service(installation,repair,parts)Firm Infrastructure(generalmanagement,accounting,finance,strategicplanning)Human Resource Management(recruiting,training,development)Technology Development(R&D,productandprocessimprovement)Procurement(purchasing

39、ofrawmaterials,machines,supplies)SupportActivitiesPrimaryActivityCLASSFOUR50CASE STUDY QUESTIONS(INTEL)What business or industry is Intel in?Who are the main players?How do they make money?What is Intels competitive strategy?Go through a quick“Porter 5-forces analysis”of the industry?What seem to be

40、 the most important factors affecting competition and profits?Overall,is this a“good industry”?If so,why dont more companies enter and challenge Intel?CLASSFOUR51What have been the effects of Intels strategy on the market as well as on competitors potential new entrants and customers?Is there anythi

41、ng that microprocessor of PC producer can do to reduce Intels influence?What are the choices and risks that Intel faces?How would you advise the CEO?What are main“lessons”of the Intel case?CASE STUDY QUESTIONS(INTEL)CLASSFOUR52THE LESSONS FROM“INTEL”CASEDistinction between business and corporate str

42、ategy Consistent vision but incremental evolution of business and corporate strategies Strategy and capabilities must go together to“create”an advantage CLASSFOUR53THE LESSONS FROM“INTEL”CASEStrategy and capabilities must evolve together to“sustain”an advantage Insightful managers and powerful firms

43、 can manipulate industry structure CLASSFOUR54CLASSFIVE55MIXING THE INTERNAL AND EXTERNAL STRATEGIY FACTORSBoston MatrixGE MatrixSWOT AnalysisCLASSFIVE56BCG GROWTHSHARE MATRIXRelative Competitive PositionBusiness Growth Rate01010Question MarksStarsDogsCashCowsCLASSFIVE57GE MATRIXStrongMediumWeakLowH

44、ighMediumBUSINESS STRENGTHMARKET ATTRACTIVENESSInvest/growSelecting/earningHarvest/diverseCLASSFIVE58TOWS MATRIXINTERNALFACTORS(IFAS)EXTERNALFACTORS(EFAS)Strengths(S)list5-10internalstrengthshereWeaknesses(W)list5-10internalweaknesseshereOpportunities(O)list5-10externalopportunitieshereThreats(T)lis

45、t5-10externalthreatshereSO StrategiesGeneratestrategiesherethatusestrengthstotakeadvantageof opportunitiesST StrategiesGeneratestrategiesherethatusestrengths toavoid threatsWO StrategiesGeneratestrategiesherethattakeadvantageofopportunitiesbyovercoming weaknessesWT StrategiesGeneratestrategieshereth

46、atminimize weaknesses andavoid threatsCLASSFIVE59CASE STUDY QUESTIONS(LITTLE SWAN)在在1994年年，“小小天天鹅鹅”公公司司新新面面临临的的市市场场威胁和机遇是什么？威胁和机遇是什么？“小天鹅小天鹅”的优势和劣势在哪里？的优势和劣势在哪里？围围绕绕着着洗洗衣衣机机市市场场的的争争夺夺，“小小天天鹅鹅”作作为为该该市市场场的的领领先先者者，深深深深地地感感到到竞竞争争的的压压力力，那那么么在在诸诸多多的的竞竞争争对对手手当当中中，究究竟谁是最强的对手呢？理由是什么？竟谁是最强的对手呢？理由是什么？“小小天天鹅鹅”如

47、如要要保保持持市市场场领领先先，其其战战略略的的基本要领是什么？基本要领是什么？CLASSFIVE60WHAT WE LEARN FROM THE LITTLE SWAN在中国改革开放，企业转轨，走向市场的过程中，企在中国改革开放，企业转轨，走向市场的过程中，企业战略意识的提高是一个渐进的过程。这其中市场意业战略意识的提高是一个渐进的过程。这其中市场意识、竞争意识是基础。识、竞争意识是基础。企业战略的制定和落实，企业领导人往往扮演最重要企业战略的制定和落实，企业领导人往往扮演最重要的角色，因为他们为企业指明方向。的角色，因为他们为企业指明方向。企业的成长是一个渐进的过程，战略需要不断地加以企业

48、的成长是一个渐进的过程，战略需要不断地加以调整。其成长过程中的目标也往往是不连续的。调整。其成长过程中的目标也往往是不连续的。企业战略是依靠一系列的企业实际经营管理的功能来企业战略是依靠一系列的企业实际经营管理的功能来加以落实并得以完善的。加以落实并得以完善的。企业事业的界定和环境的界定，需要我们深深地懂得企业事业的界定和环境的界定，需要我们深深地懂得未来究竟意味着什么？未来究竟意味着什么？CLASSFIVE61CASE STUDY QUESTIONS(Pharmaceutical Industry)Read“The alchemists:A survey of the pharmaceuti

49、cal industry”from The Economist,Do not concentrate on the technical detail.Instead,focus on trying to understand the nature of competition in the pharmaceutical industry.CLASSFIVE62CASE STUDY QUESTIONS(Pharmaceutical Industry)Please come to prepared to discuss the following questions:Perform a“five

50、forces”analysis of the pharmaceutical industry(A)before the advent of biotechnology;and(B)in its current state.Was“Big pharma”historically an“attractive”industry?IS it now?Why or why not?Is it likely to be attractive in the future?CLASSFIVE63Lessons from the Pharmaceutical Industry Industry attracti