BCG内部幻灯片模板

Context and challenges
Company consisted of multiple business units in such diverse fields as automotive supply, engineering and specialty chemicals Capital markets had placed a conglomerate discount on the company that had also accumulated a significant amount of debt through acquisitions Enormous pressure from analysts, investors and supervisory board members to overhaul the overall strategy and structure Aim: reduction of value-reducing factors and significant improvement of capital structure
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Project examples in corporate strategy
Region/ count
Europe Asia Americas Europe Europe Americas Asia Americ
Date
2005 2005 2005 2005 2004 2004 2004 2004
Speed is critical in this fast moving market segment
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Portfolio review at €5B industrial conglomerate resulting in split of company
Results and impact
Based on our analysis, the company decided to divest the highly profitable specialty chemicals division • High expected exit value given strong cash-flows from businesses • Limited organic growth opportunities • Limited inherent portfolio logic of different businesses New core allows for release of significant value potential (share price improvement over the course of the project of 50%) • Abolishment of current holding structure • Reduction of net debt to almost zero • Significant growth potential (organic and by M&A)
Source: BCG case database 2005
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Screened opportunities across four dimensions
What are the opportunities?
1
What will drive the winner?
Attractive, high growth market
Moderately sized market, but growing fast • $5B in revenue in 2006 • 25% growth projected through 2010 Fragmented market that is ripe for consolidation • Top-15 players only account for 20% of the market Marketing experience and owning the channel will be key to success in future • Existing players have limited marketing capabilities • Currently, no clear market leader
Need to determine entry strategy
Prioritize portfolio of growth opportunities • Compare options to other growth areas • Evaluate impact of entry into this market on financial flexibility Determine market entry strategy—organic versus acquisition • Can leverage existing capabilities • Well priced acquisition would be faster Begin to identify acquisition targets and conduct strategic due diligence • Evaluate investment requirements and optimal structuring • Explore synergies with current business
BCG approach: what we did
Rigorous, fact-based portfolio analysis based on BCG's proven trafficlight portfolio approach • Analysis of strategic quality of portfolio: market attractiveness and competitive position of BUs • Analysis of growth and value-creation opportunities by BU Development of potential future portfolios of the company based on different options for the core—including equity stories and M&A buying lists for each option Evaluation of portfolio options based on wide set of criteria, including strategic, financial and capital-market related aspects
What are the sources of advantage in segment? Is segment fragmented today but likely to consolidate?
Which contenders have leveragable assets? How well do assets match sources of advantage in segment?
What are the leveragable assets?
How well do assets match sources of advantage in segment?
• Potential plays • Size, growth of subsegments
• Generic attractiveness • Key sources of advantage
BCG 幻灯片撰写模板
仅供内部使用
幻灯片的四种类型
文字
ቤተ መጻሕፍቲ ባይዱ图形
表格 示意图
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文字类模板
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We recommend entering this market segment
High growth and synergy with existing business make this an attractive opportunity
Topic
Strategy Portfolio Portfolio/ Growth Growth Growth Transformation Transformation Portfolio
Project description
Defined a global strategy for the ice cream business of a major global consumer goods company Conducted an portfolio diversification project for a major international airline Developed a portfolio and growth strategy for a conglomerate in beverage and snack-food manufacturing Developed growth strategy for subsidiary of a major European airline Global growth strategy for the wireless internet services of a major mobile telecommunication company Developed transformation growth and financial strategy Transformation strategy for an automotive player in India Portfolio shareholder value strategy for a global oil corporation