经典英文版战略管理
chap3战略管理英语版
Importance of understanding internal organization Value: Definition and importance Tangible vs intangible resources Capabilities: Definition and development Core competencies: Criteria (N=4) Value Chain Analysis Outsourcing: Definition and “why?” Importance of internal organization assessment
Involves identifying, developing, deploying and protecting firms‟ resources, capabilites and core competencies Proprietary technologies Changes in economic and political trends, societal values and shifts in customer demands Environment – increases complexity Due to decisions about core competencies and how to nurture them
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Creating Value The Challenge of Analyzing the IO
Components of Internal Analysis Leading to Competitive Advantage and Strategic Competitiveness
战略管理课件英文版Ch6CorporateLevelStrategy48P
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Levels and Types of Diversification
Moderate to High Levels of Diversification
Related Constrained
<70% of revenues from dominant business; all businesses share product, technological and distribution linkages
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Managerial Motives to Diversify
Managers have motives to diversify:
– diversification increases size; size is associated with executive compensation
– diversification reduces employment risk – effective governance mechanisms may restrict
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This is what Pepsi used to look like
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Pepsi’s experiment with fast food
Pepsi acquires Pizza Hut in 1977, Taco Bell in 1978 and KFC in 1986.
In 1997, Pepsi spins off all three as Tricon ($11B with 29,000 restaurants). They are now part of Yum! Brands.
chap4战略管理英语版
Competitive Behavior
Set of competitive actions and competitive responses the firm takes to build or defend its competitive 6 advantages and to improve its market position
Combination of market nality & resource similarity indicate a firm’s direct competitors
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Competitor Analysis
Examples from text (p. 132)
Industry
Financial
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A Framework of Competitor Analysis
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Chapter 4: Building and Sustaining Competitive Advantage
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A Model of Competitive Rivalry
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Competitor Analysis
Competitor Analysis
2 components to assess: Market Commonality and Resource Similarity The question: ‘To what extent are firms competitors’?
战略管理双语资料范文(DOC 71页)
战略管理双语资料范文(DOC 71页)Chapter 1 Strateg ic Ma n a gem e nt a nd Str a tegic Com pe titiven e ss (7)1.1Strategic Management Process (8)1.1.1 The Rational Model (8)1.1.2 The critique of the rational model (11)1.2 The New Competitive Landscape (12)1.2.1The Globalized Competition (12)1.2.2Technological Changes (15)1.3The I/O model of Above-averageReturns (19)1.4The Resource-based Model ofAbove-average Returns (22)1.5Strategic Intent and Strategic Mission.261.6Stakeholders (28)1.7Organizational Strategists (30)复习题 (31)Chapter 2 The External Environment: Opportunities, Threats, Industry Environment, and Competitor Analysis (34)2.1External Environmental Analysis (35)2.2 Segments of the General Environment:The PEST Analysis (38)2.3 Industry Environment Analysis: TheFive Forces Model (40)2.4 Strategic Group Analysis (51)2.5 Competitor Analysis (52)复习题 (53)Chapter 3 The Internal Environment: Resources, Capabilities, and Core Competencies (56)3.1 The importance of Internal Analysis .. 573.2 Resources, Capabilities, and CoreCompetencies (60)3.2.1 Resources (60)3.2.2 Capabilities (64)3.2.3 Core Competencies (65)3.3 Steps in a Resource-based StrategicAnalysis (67)3.4 Value Chain Analysis (77)复习题 (79)Chapter 4 Business-Level Strategy (81)4.1 Customers: Who, What, and How (82)4.1.1 Who: Determining the customersto serve (83)4.1.2 What: Determining the customerneeds to satisfy (84)4.1.3 How: Determining corecompetencies necessary to satisfycustomers’ needs (84)4.2 Types of Business-level Strategy (85)4.3 Cost Leadership Strategy (87)4.4 Differentiation Strategy (92)4.5 Focus Strategies (97)4.6 Integrated Low-Cost/DifferentiationStrategy (99)复习题 (104)Chapter 5 Corporate-Level Strategy (107)5.1 Corporate-level Strategy and Levels ofDiversification (108)5.2 Reasons for Diversification (110)5.3 Techniques for Analyzing DiversifiedCompanies’ Portfolios (111)复习题 (115)Chapter 6 Acquisition and Restructuring Strategies (116)9.1 Corporate Governance Mechanisms 1549.2 Separation of Ownership andManagerial Control (158)9.3 Five Governance Mechanisms (165)9.3.1 Ownership Concentration (165)9.3.2 Board of Directors (166)9.3.3 Executive Compensation (169)9.3.4 The Multidivisional Structure 1719.3.5 Market for Corporate Control173复习题 (174)Chapter 10 Organizational Structure and Controls (177)10.1 Evolutionary Patterns of Strategy andOrganizational Structure (178)10.1.1 Simple Structure (180)10.1.2 Functional Structure (182)10.1.3 Multidivisional Structure (189)10.2 Implementing International Strategies:Organizational Structure and Control (200)10.2.1 Using the WorldwideGeographic Area Structure toImplement the Multi-domesticStrategy (201)10.2.2 Using the Worldwide ProductDivisional Structure to Implement theGlobal Strategy (204)复习题 (207)Chapter 11 Corporate Entrepreneurship and Innovation (208)11.1 Innovation and CorporateEntrepreneurship (209)11.2Internal Corporate Venturing (214)复习题 (222)Chapter 1 Strateg ic Ma n a gem e nt a nd Str a tegic Com pe titiven e ssLea r n i ng Objec t ivesAfter reading t h i s chapter, you should be a ble to·Defining strategic competitiveness, competitive advantage, and above-average returns.·Discuss the challenge of strategic management.·Describe the new competitive landscape and how it is being shaped by global andtechnological changes.·Use the industrial organization(I/O) model to explain how firms can earn above-average returns.·Use the resource-based model to explain how firms can earn above-average returns.·Describe strategic intent and strategic mission and discuss their value to the strategic management process.·Define stakeholders and describe the three primary stakeholder groups’ ability to influence organizations.·Describe the work of strategists.·Explain the strategic management process.1.1Strategic Management Process1.1.1 The Rational ModelStrategic competitiveness(战略竞争力) is achieved when a firm successfully formulates and implements a value-creating strategy. When a firm implements a value-creating strategy of which other companies are unable to duplicatethe benefits or find it too costly to imitate, this firm has a sustained or sustainable competitive advantage(持续的或可持续的竞争优势). The speed with which competitors are able to acquire the skills needed to duplicate the benefits of a firm’s value-creating strategy determines how long a competitive advantage will last. Understanding how to exploit its competitive advantage is necessary for a firm to earn above-average returns. Above-average returns(高于平均的或超额回报) are returns in excess of what an investor expects to earn from other investment with a similar amount of risk. Risk(风险) is an investor’s uncertainty about the economic gains or losses that will result from a particular investment. Firms that are without a competitive advantage or that are not competing in an attractive industry earn, at best, only average returns. Average returns(平均回报)are returns equal to those an investor expects to earn from other investments with a similar amount of risk. In the long run, an inability toearn at least average returns results in failure. Failure occurs because investors will choose to invest in firms that earn at least average returns and will withdraw their investments from firms that earn less.Dynamic in nature, the strategic management process (战略管理过程)is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. It is used to match the conditions of an ever-changing market and competitive structure with a firm’s continuously evolving resources, capabilities, and competencies.Figure 1.1 The Strategic Management ProcessIdentifyAssess mega- AssessSWOTNotes: the letter S in SWOT denotes strengths, W weaknesses, O opportunities, T threats. 1.1.2 The critique of the rational model1.Setting objectives is the cornerstone of strategic planning. But, incentive un-compatibility (激励不相容) usually leads to inconsistency between objectives that the firm has stated and objectives that the managers are actually pursuing.2.The predictability of the environment is the core assumption of strategic planning. But, irreversibility and uncertainty (不确定性) usually lead to the unpredictability Strategic Formulation ·corporate Strategic Implementat ion Strategic Advantageof the environment.3.Another assumption of strategic planning is that strategists are rational. Virtually, strategists’ rationality is bounded (战略家的理性是有限的)and strategic formulation reflects the internal politics of the organization.1.2 The New Competitive Landscape1.2.1The Globalized CompetitionThe fundamental nature of competition in many of the world’s industries is changing. The pace of this change is relentless and is increasing. Even determining the boundaries of an industry or a firm(行业或企业的边界)has become challenging. Consider, for example, how advances in interactive computer networks and telecommunications have blurred the definition of the “television”industry. Conventional sources of competitive advantage(传统的竞争优势的源泉) such as economies of scale(规模经济) and huge advertising budgets(巨额广告预算) are not as effective in the new competitivelandscape. Moreover, the traditional managerial mind-set(传统的管理者心态) cannot lead a firm to strategic competitiveness in the new competitive landscape. In its place, managers must adopt a new mind-set——one that values flexibility, speed, innovation, integration, and the challenges that evolve from constantly changing conditions(看重灵活性、速度、创新、整合和从不断变化的环境中产生的挑战的心态). Strategic flexibility(战略的敏捷性) is a set of capabilities firms use to respond to various demands and opportunities that are a part of dynamic and uncertain competitive environments. Such flexibility means that a firm can match quickly its resources with an environmental opportunity(快速地使其资源与环境的机遇匹配).A global economy(全球经济) is one in which goods, services, people, and ideas move freely across geographic borders. It significantly expands and complicates a firm’s competitive environment. To achieve strategiccompetitiveness in the global economy, a firm must view the world as its marketplace.In globalized markets(全球化的市场) and industries, financial capital might be obtained in one national market and used to buy raw materials in another one. Manufacturing equipment bought from a third national market can be used to produce products that are sold in a fourth market. Thus, globalization increases the range of opportunities for firms competing in the new competitive landscape.The internationalization of markets and industries makes it increasingly difficult to think of some firms as domestic companies(本国公司). Global competition has increased performance standards(绩效标准) in many dimensions, including those of quality, cost, productivity, production introduction time, and smooth, flowing operations.The development of newly industrialized countries(新兴工业化国家) is changing the global competitive landscape and significantlyincreasing competition in global markets. The economic development of Asian countries outside of Japan is increasing the significance of Asian markets.In the new competitive landscape, firms are challenged to develop the optimal level of globalization(最优的全球化水平).1.2.2Technological ChangesThere are three categories of technological trends and conditions through which technology is significantly altering the nature of competition(竞争的性质).·Increasing rate of technological change and diffusion(不断上升的技术变迁率和扩散率) Both the rate of technology changes and the speed at which new technologies become available and are used have increased substantially over the last 20 years. Perpetual innovation(持续的创新) is a term used to describe how rapidly and consistently new, information-intensive technologies (信息密集的技术)replace older ones. The shorter product life cycles(产品生命周期) resulting from these rapid diffusions of new technologies place a competitive premium on being able to quickly introduce new goods and services into the marketplace. In fact, when products become somewhat indistinguishable because of the widespread and rapid diffusion of technologies, speed to market(产品进入市场的速度) may be the only source of competitive advantage. Some evidence suggests that after only 12 to 18 months, companies likely will have gathered information about their competitors’R&D and product decisions. Often, merely a few weeks pass before a new American-made product introduced in U.S. markets is copied, manufactured, and shipped to the United States by one or more companies in Asia.Today’s rate of technological diffusion stifles the protection firms possessed previously through their patents(专利). Patents are now thought by many to be an effective way ofprotecting proprietary technology(专利技术) primarily in the pharmaceutical and chemical industries only. Many firms competing in the electronics industry often do not apply for patents to prevent competitors from gaining access to the technological knowledge included in the patent application(包含在专利申请中的技术知识).·The Information Age(信息时代)Dramatic changes in information technology have occurred in recent years. Personal computers, cellular phones, artificial intelligence (人工智能), virtual reality(虚拟现实), and massive databases are a few examples of how information is used differently as a result of technological developments. Someone believes that electronic mail (E-mail) systems are the first manifestation of a revolution in the flow and management of information in companies throughout the world. An important outcome of these changes is that the ability to access and effectively use information has become animportant source of competitive advantage in virtually all industries.·Increasing Knowledge Intensity(不断提高的知识密度)Knowledge is the basis of technology. In the new competitive landscape, knowledge is a critical organizational resource and is increasingly a valuable source of competitive advantage. Because of this, many companies now strive to transmute the accumulated knowledge of individual employees into a corporate asset(把个体性员工积累起来的知识转变成公司的资产). Figure 1.2 The New Competitive LandscapeTechnological changes·rapid technological changes and diffusion ·dramatic changes in information technologies ·increasingThe global economy·People, products, ideasmove freely across borders·Significant opportunitiesemerge in global markets.·Markets and industriesbecome moreinternationalized. TheNew1.3The I/O model of Above-average ReturnsFrom the 1960s through the 1980s , the external environment was thought to be the primary determinants of strategies firms selected. The industrial organization model explains the dominant influence of the external environment on firms’strategic actions. This model specifies that the industry chosen in which to compete has a stronger influence on a firm’s performance than do the choices managers make inside their organizations. Firm performance is believed to be predicted primarily by a range of an industry’s properties(行业属性), including economies of scale(规模经济), barriers to entry(进入壁垒), diversification(产品多元化), product differentiation(产品差异), and the degree of concentration(行业集中度).The I/O model has four underlying assumptions. First, the external environment is assumed to impose pressures and constraintsthat determine the strategies that would result in above-average returns. Second, most firms competing within a particular industry are assumed to control similar strategically relevant resources and pursue similar strategies. Third, it is assumed that resources used to implement strategies are highly mobile across firms. Because of resource mobility, any resource differences that might develop between firms will be short lived. Fourth, organizational decision makers are assumed to be rational and committed to acting in the firm’s best interests as shown by their profit maximizing behavior(利润最大化行为).The I/O model challenges firms to locate the most attractive industry in which to compete. Competitiveness generally can be increased only when firms find the industry with the highest profit potential(具有最高的利润潜能的行业) and learn how to use their resources to implement the strategy required by the structural characteristics in that industry(行业的结构特征所要求的战略). The five forces model of competition(竞争的五力模型) is an analytical tool used to help firms with this task. This model suggests that an industry’s potential profitability(行业的潜在的赢利性) is a function of interactions among five forces. A firm can use this model to understand an industry’s profit potential and the strategy that should be implemented to establish a defensible competitive position(可防卫的竞争位置). Typically, this model suggests that firms can earn above-average returns by implementing a cost leadership strategy(成本领先战略) or a differentiation strategy(差异化战略).Figure 1.3 The I/O Model of Superior Returns Study the externalLocate an industry withIdentify the strategyDevelop or acquireassets and skillsUse the firm’sAbove-ave1.4The Resource-based Model of Above-average ReturnsThe resource-based model(基于资源的模型) assumes that each organization is a bundle of unique resources and capabilities that providesthe basis for its strategy and is the primary source of its returns. According to this model, differences in firms’performances across time are driven primarily by organization’s unique resources and capabilities rather than by an industry’s structural characteristics(企业绩效的跨时差异主要是由组织的独特的资源的能力而非行业的特征驱动的).This model also assumes that over time, firms acquire different resources and develop unique capabilities. As such, all firms competing within a particular industry may not possess the same strategically relevant resources and capabilities. Another assumption of this model is that resources may not be highly mobile across firms. The differences in resources(资源上的差异) form the basis of competitive advantage.Resources (资源)are inputs into a firm’s production process, such as capital equipment, the skills of individual employees, patents, finance, and talented managers. In general, a firm’s resources can be classified into threecategories: physical, human, and organizational capital(实物资本、人力资本和组织资本). Individual resources alone may not yield a competitive advantage. In general, it is through the combination and integration of sets of resources that competitive advantages are formed(竞争优势是通过组合和整合资源集形成的). A capability(能力) is the capacity for a set of resources to integratively perform a task or an activity. Through continued use, capabilities become stronger and more difficulty for competitors to understand and imitate(通过持续的使用,能力变得更强和更加难以被对手理解和模仿). As a source of competitive advantage, a resource should be valuable, rare, costly to imitate, and non-substitutable. Resources are valuable(有战略价值的) when they allow a firm to exploit opportunities and or/neutralize threats in its external environment; they are rare(稀有的)when possessed by few, if any, current and potential competitors; they are costly to imitate(模仿代价高昂的)when otherfirms either cannot obtain them or at a cost disadvantage to obtain them compared to the firm that already possesses them; they are non-substitutable(不可替代的)when they have no structural equivalents.The resource-based model of competitive advantage suggests that a firm’s unique resources and capabilities provide the basis for a strategy. The strategy chosen should allow the firm to best exploit its core competencies(最佳地利用其核心竞争力) relative to opportunities in the external environment. Core competencies(核心竞争力) are resources and capabilities that serve as a source of competitive advantage.Figure 1.4 The Resource-based Model of Superior ReturnsIdentify the firm’sDetermine the firm’sDetermine the potentialLocate an attractiveSelect a strategy thatallows the firm to best1.5Strategic Intent and Strategic MissionStrategic intent(战略意图) is the leveraging of a firm’s internal resources, capabilities, and core competencies to accomplish the firm’s goals in the competitive environment. Strategic intent reflects what a firm is capable of doing as a result of its core competencies and the uniqueways they can be used to exploit a competitive advantage. The following examples are expression of strategic intent.“To become a high-performance multinational energy company——not the biggest, but the best.”“Its our strategic intent that customers worldwide view us as their most valued pharmaceutical partner.”“To be the top performer in everything.”“To catch up with and beat Caterpillar.”Strategic mission(战略使命) is a statement of a firm’s unique purpose and the scope of its operations in product and market terms. An effective strategic mission establishes a firm’s individuality and is exciting, inspiring, and relevant to all stakeholders(利害相关者). Together, strategic intent and strategic mission yield the insights required to formulate and implement the firm’s strategies(制定和执行企业战略所要求的洞见). When a firm is strategically competitive and earning above-average returns,it has the capacity to satisfy its stakeholders’interests(满足其利害相关者的利益).1.6StakeholdersStakeholders(企业的利害相关者) are the individuals and groups who can affect and are affected by the strategic outcomes achieved and who have enforceable claims on a firm’s performance(对企业绩效的可实施的要求权). Claims against an organization’s performance are enforced through a stakeholder’s ability to withhold participation essential to a firm’s survival, competitiveness, and profitability. Stakeholders continue to support an organization when its performance meets or exceeds their expectations. However, every stakeholder does not have the same level of influence. The more critical and valued a stakeholder’s participation is, the greater a firm’s dependency on it. Greater dependence, in turn, results in more potential influence for the stakeholder over a firm’s commitments, decisions, and actions.The stakeholders involved with a firm’s operations can be separated into three groups. Each of these stakeholder groups expects those making strategic decisions in a firm to provide the leadership through which their valued objectives will be accomplished(提供有助于实现他们看重的目标的领导). But these groups’objectives often differ from one another, sometimes placing managers in situations where trade-offs have to be made(有时置经理于必须作出二难选择的情形中). It is important that those responsible for managing stakeholder relationships in a country outside their native land use a global mind-set. A global mind-set(全球心态) is the capacity to appreciate the beliefs, values, behaviors, and business practices of individuals and organizations from a variety of regions and cultures.The firm’s st akeholders and their interestsCapital market stakeholders Goals and Objectives •Shareholders dividends, profit rate•Creditorssecurity of loanProduct market stakeholders:•Customers perceived value of the good or the service •Suppliers profitablesales,payment forgoods,long-termrelationship •Host communities pollution, employment, aids, taxinside-organization stakeholders•Employees monetary and non-monetary interests •Managers monetary and non-monetary interests1.7Organizational StrategistsSmall organizations may have a single strategist. In many cases, this person owns the firm and is deeply involved with its daily operations. At the other extreme, large, diversified firms(多元化的企业) have many top-level managers. Inaddition to the CEO and other top-level officials(e.g., chief operating officer and chief financial officer操作总监和财务总监), they have managers who are responsible for the performance of individual business units(个体性业务单位).Typically, stakeholders have high expectations of top-level managers, particularly the CEO. Some believe that every organizational failure is actually a failure of those who hold the final responsibility for the quality and effectiveness of a firm’s decisions and actions.复习题1.解释下列概念:战略竞争力、高于平均的回报、平均回报、风险、战略管理过程、激励不相容、有限理性、战略的敏捷性、资源、能力、核心竞争力、战略意图、战略使命、企业的利害相关者2. 战略竞争力概念中所隐含的前提性假设是什么?企业获取可持续的战略竞争力的关键或曰前提是什么?什么决定着企业的战略竞争力可维持的时间的长短?3.战略管理过程的理性模型有何不足?为什么各国战略管理教材仍把它作为主要内容进行讲授?4.传统的企业竞争优势的源泉是什么?在新竞争情景中什么更重要?5.为什么说市场和行业的国际化使要把某些公司看成本国公司越来越困难?6.为什么说在技术快速扩散和传播的情况下,产品进入市场的速度或许是竞争优势的唯一源泉?7.为什么药品行业和化学行业的企业比较愿意申请专利,而电子行业的企业一般不愿意申请专利?8.为什么说获取和有效利用信息的能力已成为所有行业中的竞争优势的重要源泉?9.试述塑造新竞争情景的主要力量。
战略管理(英文版)
名词解释:1、Strategy: An integrated and coordinated set of commitments & actions designed to exploit core competencies and gain a competitive advantage.2、Strategic Management: Strategic Management is the process through which organizations analyze and learn from their internal and external environments, establish strategic direction, create strategies that are intended to help achieve established goals, and execute those strategies, all in an effort to satisfy key organizational stakeholders.3、Strategic Management consists of the analysis, decisions and actions an organization undertakes in order to create and sustain competitive advantages.4、The strategic management process includes the activities of internal and external analysis, establishment of strategic direction, development of strategies for the corporate and business levels of the organization, development and execution of an implementation plan, and the establishment of strategic controls.5、Vertical integration: The term is used to describe the extent to which a firm is involved in several stages of the industry supply chain.6、Horizontal integration: The process of acquiring or merging with industry competitors to achieve the competitive advantages that arise from a large size and scope of operations.7、Diversification strategy describes the scope of the firm in terms of the industries and markets in which it competes.8、Related diversification implies organizational involvement in activities that are somehow related to the dominant or “core” business of the organization, often through common markets or similar technologies.9、Unrelated diversification does not depend on any pattern of relatedness. Unrelated diversification has lower profitability and higher risks than those pursuing other corporate-level strategies such as concentration or related diversification.10、Organizational fit: When two organizations or business units are merged or acquisition happened, and the organizational management processes, cultures, system, and structures are matching(similar), this is organizational fit.11、Marketing strategy: Marketing strategy is the plan for investing marketing efforts and resources (advertising, branding, distribution, etc.)to achieve business goals.To support growth strategiesTo support a stability or retrenchment strategy12、Economies of scale: Economies of scale refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase.(1)Economies of scale. Unit cost reductions associated with a large scale of output •Larger production runs•Larger facilities•Allocating fixed costs(2)Diseconomies of scale. Unit cost increases associated with a large scale of output•Increased bureaucracy associated with large-scale enterprises•Resulting managerial inefficiencies13、True economies of scale are cost advantages associated with large-sized facilities rather than with increased volume through an existing facility.14、Life cycle of an industry: Refers to the stages of Introduction, Growth, Maturity and Decline, portrays how salesvolume for a product or an entire industry changes over its lifetime and helps to understand the dynamic nature of strategy.15、So-called product life cycle: Refers to the product from entering the market ,the market cycle, until final out of the market experience.简答论述:一、潜在竞争者出现面临的障碍都有哪些障碍并举例(Potential competitors∕Entry Barriers P31)Potential competitors∕Entry Barriers: Forces that keep new entrants out, providing a level of protection for existing competitors, are called entry barriers.Examples of entry barriers commonly found in many industries include the following:1、Economies of scale, which occur when it is more efficient to produce a product in a large facility at higher volume.2、Large capital requirements,also known as start-up costs ,can prevent a small competitor from entering an industry.3、High levels of products differentiation ,which means that some firms enjoy a loyal customer base, making it harder for a new firm to draw away customers.4、High switching costs ,applying not only to suppliers, can be used to preserve established firms in an industry.5、Limited access to distribution channels,which may prevent new companies from getting their products to market.6、Government policies and regulations that limit entry into industry,effectively preventing new competition.7、Existing firm procession of resources that are difficult to duplicate in the short term. Such as patents, favorable locations, proprietary product technology, government subsidies, or access to scarce raw materials.(Cost disadvantages independent of scale)8、A past history of aggressive retaliation by industry competitors toward new entrants.(Threat of new entries)二、什么样资源、能力能使企业形成持续核心竞争力?(Sustainable competitive advantage P46 )Internal resources and capabilities fall into five: human, physical, financial, knowledge, and organizational.In general, capabilities and resource become strengths with the potential to create a competitive advantage if two conditions are met.1.The resource or capabilities are value.2.The resource or capabilities are unique.In addition, a unique and valuable resources or capability actually becomes a competitive advantage if the following additional conditions are met:1.The organization is suited to exploitation of the resourceor capability.2.T he firm’s managers are aware of the potential of theresource or capability to lead to a competitive advantageand have taken steps to realize the advantage.Finally, a resource or capability can be a source of sustainable competitive advantage if two additional conditions are met:1.The resource or capabilities are difficult or expensive to imitate.2.No readily available substitutes exist.三、企业的社会责任感的概念以及包含哪些重点内容?(Social responsibility P15上课补充的)Social responsibility:the expectation that businesses or individuals will strive to improve the overall welfare of society.1、Economic responsibility. Such as the obligation to beproductive and profitable and meet the consumer needs of society.2、Legal responsibility.To achieve economic goals withinthe confines of established laws.3、Moral obligations. To abide by unwritten codes, norms,and values implicitly derived from society.4、Discretionary responsibility. Volitional or philanthropicin nature.四、怎么实现低成本战略?How to Realize the Low-costStrategy (Cost leadership P95)Low-cost leadership allows a firm to compete by lowering prices when needed without becoming unprofitable.Firms pursuing a low-cost strategy will typically employ one or more of the following factors to create their low-cost position:1.High capacity utilization.When customer demand is highand the firm’s capacity is full utilized, fixed costs are spread over more units, lowering unit cost.2.Economic of scale. True economies of scale are costadvantages associated with large-sized facilities rather than with increased volume through an existing facility.3.Technological panies making investments incost-saving technologies are often trading an increase in fixed costs for a reduction in variable costs.4.Learning/experience effects.The learning curve effect saysthat the time required to complete a task will decrease as a predictable function of the number of times the task is repeated.Experience effects are the same thing as learning effects but relate to indirect labor as well as direct production labor.五、功能性(职能)战略的概念,发展比较好应具备什么特点?(Functional strategies P137)Functional strategies: Functional strategies are the plans for matching those skills, resources, and capabilities to the business and corporate strategies of the organization.The well-developed Functional strategies should have the following Characters:1.Decisions made within each function will be consistent with each other.2.Decisions made within one function will be consistent with those in other functions.3.Decisions made within functions will be consistent with the strategies of the business.六、改善组织学习质量、提高组织学习数量,控制系统应该具备什么特征?(To enhance the quality of organizational learning ,these control systems should have the following characters )a) Information generated by the control system should be an important and recurring item to be addressed by the highest levels of management.b) The control process should also be given frequent and regular attention from operating managers at all levels of the organization.c) Data from the system should be interpreted and discussed inface-to-face meeting among superiors and subordinates.d) The success of the control process relies on the continual challenge and debate of underlying data, assumptions, and strategies.小论文:多元化战略,结合实际认识,优缺点,对企业发展的影响。
chap8战略管理英语版
2. Return on Investment (ROI)
Large investment projects may require global markets to justify the capital outlays Weak patent protection in some countries implies that firms should expand overseas rapidly in order to preempt imitators
The Management of Strategy (Concepts and Cases)
Part II: Strategic Actions: Strategy Formulation Chapter 8: International Strategy
1
The Strategic Management Process
4. Location advantages: Low cost markets may…
… aid in developing competitive advantage … achieve better access to critical resources:
i.e., raw materials, lower cost labor, key customers, energy
3
生产与市场的全球化
1950年以来, 1950年以来,世界商品贸易总量的增长一直高 年以来 于同期世界经济的增长。 于同期世界经济的增长。 1970-2003年,国际贸易增长了25倍,而经过 1970-2003年 国际贸易增长了25倍 25 通货膨胀修正的全球制造业总值的增长只有 7.5倍 7.5倍。 1992年到2003年 年到2003 从1992年到2003年,全球外国直接投资增长 279%,世界贸易增长69% 69%, 279%,世界贸易增长69%,全球产出总量增长 28%。 28%。
战略管理-StructureandControls战略管理,英文版 精品
SBU Form
Related-Linked Strategy
President
Corporate R&D
Corporate Finance
Strategic Planning
Corporate Marketing
Corporate Human
Resources
Strategic Business Unit A
Functional Structure
First stage beyond a Simple Structure
Appropriate for single or dominant-business firms
Allows specialization of tasks
* Production * Engineering
Corporate Finance
Product Division
Product Division
Product Division
Product Division
Product Division
• Structural integration devices create tight links among all divisions • Large corporate office with R&D likely to be centralized • Culture emphasizes cooperative sharing
Chapter 2 External Environment
Chapter 3 Internal Environment
Strategic Intent Strategic Mission
战略管理双语文件范本
Chapter 1 Strategic Management and Strategic Competitiveness (6)1.1Strategic Management Process (7)1.1.1 The Rational Model (7)1.1.2 The critique of the rational model (11)1.2 The New Competitive Landscape (11)1.2.1The Globalized Competition (11)1.2.2Technological Changes (14)1.3The I/O model of Above-average Returns (18)1.4The Resource-based Model of Above-average Returns (22)1.5Strategic Intent and Strategic Mission (26)1.6Stakeholders (27)1.7Organizational Strategists (30)复习题 (30)Chapter 2 The External Environment: Opportunities, Threats, Industry Environment, and Competitor Analysis (33)2.1External Environmental Analysis (34)2.2 Segments of the General Environment: The PESTAnalysis (37)2.3 Industry Environment Analysis: The Five ForcesModel (39)2.4 Strategic Group Analysis (50)2.5 Competitor Analysis (51)复习题 (52)Chapter 3 The Internal Environment: Resources, Capabilities, and Core Competencies (55)3.1 The importance of Internal Analysis (56)3.2 Resources, Capabilities, and Core Competencies (59)3.2.1 Resources (59)3.2.2 Capabilities (62)3.2.3 Core Competencies (64)3.3 Steps in a Resource-based Strategic Analysis 663.4 Value Chain Analysis (75)复习题 (77)Chapter 4 Business-Level Strategy (78)4.1 Customers: Who, What, and How (79)4.1.1 Who: Determining the customers to serve 804.1.2 What: Determining the customer needs tosatisfy (81)4.1.3 How: Determining core competenciesnecessary to satisfy customers’ needs (82)4.2 Types of Business-level Strategy (82)4.3 Cost Leadership Strategy (84)4.4 Differentiation Strategy (89)4.5 Focus Strategies (94)4.6 Integrated Low-Cost/Differentiation Strategy 96复习题 (100)Chapter 5 Corporate-Level Strategy (103)5.1 Corporate-level Strategy and Levels ofDiversification (104)5.2 Reasons for Diversification (107)5.3 Techniques for Analyzing Diversified Companies’Portfolios (108)复习题 (111)Chapter 6 Acquisition and Restructuring Strategies . 1136.1 Reasons for Acquisitions and Problems in AchievingSuccess (113)6.2 Attributes of Successful Acquisitions (115)6.3 Restructuring (116)复习题 (117)Chapter 7 International Strategy (121)7.1 Opportunities and Outcomes of InternationalStrategy (122)7.2 International Business-level Strategy (127)复习题 (130)Chapter 8 Cooperative Strategy (133)8.1Types of and Reasons for Cooperative Strategies (134)8.2Business-level and Corporate-level CooperativeStrategies (137)8.2.1 Business-Level Cooperative Strategies 1378.2.2 Corporate-Level Cooperative Strategies 1398.3Network Strategies (141)8.4Competitive Risks with Cooperative Strategies 143Chapter 9 Corporate Governance (149)9.1 Corporate Governance Mechanisms (150)9.2 Separation of Ownership and Managerial Control (154)9.3 Five Governance Mechanisms (160)9.3.1 Ownership Concentration (160)9.3.2 Board of Directors (162)9.3.3 Executive Compensation (164)9.3.4 The Multidivisional Structure (167)9.3.5 Market for Corporate Control (168)复习题 (169)Chapter 10 Organizational Structure and Controls (172)10.1 Evolutionary Patterns of Strategy andOrganizational Structure (172)10.1.1 Simple Structure (175)10.1.2 Functional Structure (177)10.1.3 Multidivisional Structure (183)10.2 Implementing International Strategies:Organizational Structure and Control (195)10.2.1 Using the Worldwide Geographic AreaStructure to Implement the Multi-domesticStrategy (195)10.2.2 Using the Worldwide Product DivisionalStructure to Implement the Global Strategy . 198复习题 (202)Chapter 11 Corporate Entrepreneurship and Innovation 20211.1 Innovation and Corporate Entrepreneurship . 20311.2Internal Corporate Venturing (208)复习题 (216)Chapter 1 Strategic Management and Strategic CompetitivenessLearning ObjectivesAfter reading this chapter, you should be able to ·Defining strategic competitiveness, competitive advantage, and above-average returns.·Discuss the challenge of strategic management.·Describe the new competitive landscape and how it is beingshaped by global and technological changes.·Use the industrial organization(I/O) model to explain how firms can earn above-average returns.·Use the resource-based model to explain how firms can earn above-average returns.·Describe strategic intent and strategic mission and discuss their value to the strategic management process.·Define stakeholders and describe the three primary stakeholder groups’ ability to influence organizations.·Describe the work of strategists.·Explain the strategic management process.1.1Strategic Management Process1.1.1 The Rational ModelStrategic competitiveness(战略竞争力) is achieved when a firm successfully formulates and implements a value-creating strategy. When a firm implements a value-creating strategy of which other companies are unable to duplicate the benefits or find it too costly to imitate, this firm has a sustained or sustainablecompetitive advantage(持续的或可持续的竞争优势). The speed with which competitors are able to acquire the skills needed to duplicate the benefits of a firm’s value-creating strategy determines how long a competitive advantage will last. Understanding how to exploit its competitive advantage is necessary for a firm to earn above-average returns. Above-average returns(高于平均的或超额回报) are returns in excess of what an investor expects to earn from other investment with a similar amount of risk.Risk(风险) is an investor’s uncertainty about the economic gains or losses that will result from a particular investment. Firms that are without a competitive advantage or that are not competing in an attractive industry earn, at best, only average returns. Average returns(平均回报)are returns equal to those an investor expects to earn from other investments with a similar amount of risk. In the long run, an inability to earn at least average returns results in failure. Failure occurs because investors will choose to invest in firms that earn at least average returns andwill withdraw their investments from firms that earn less. Dynamic in nature, the strategic management process (战略治理过程)is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. It is used to match the conditions of an ever-changing market and competitive structure with a firm’s continuously evolving resources, capabilities, and competencies.Figure 1.1 The Strategic Management ProcessNotes: the letter S in SWOT denotes strengths, Wweaknesses,O opportunities, T threats.1.1.2 The critique of the rational model1.Setting objectives is the cornerstone of strategic planning. But, incentive un-compatibility(激励不相容)usually leads to inconsistency between objectives that the firm has stated and objectives that the managers are actually pursuing.2.The predictability of the environment is the core assumption of strategic planning. But, irreversibility and uncertainty(不确定性)usually lead to the unpredictability of the environment.3.Another assumption of strategic planning is that strategists are rational. Virtually,stra tegists’ rationality is bounded(战略家的理性是有限的)and strategic formulation reflects the internal politics of the organization.1.2 The New Competitive Landscape1.2.1The Globalized CompetitionThe fundamental nature of competition in many of theworld’s industries is changing. The pace of this change is relentless and is increasing. Even determining the boundaries of an industry or a firm(行业或企业的边界) has become challenging. Consider, for example, how advances in interactive computer networks and telecommunications have blurred the definition of the “television”industry. Conventional sources of competitive advantage(传统的竞争优势的源泉) such as economies of scale(规模经济) and huge advertising budgets(巨额广告预算) are not as effective in the new competitive landscape. Moreover, the traditional managerial mind-set(传统的治理者心态) cannot lead a firm to strategic competitiveness in the new competitive landscape. In its place, managers must adopt a new mind-set ——one that values flexibility, speed, innovation, integration, and the challenges that evolve from constantly changing conditions(看重灵活性、速度、创新、整合和从不断变化的环境中产生的挑战的心态). Strategic flexibility(战略的敏捷性) is a set of capabilities firms use to respond to various demands and opportunities thatare a part of dynamic and uncertain competitive environments. Such flexibility means that a firm can match quickly its resources with an environmental opportunity(快速地使其资源与环境的机遇匹配).A global economy(全球经济) is one in which goods, services, people, and ideas move freely across geographic borders. It significantly expands and complicates a firm’s competitive environment. To achieve strategic competitiveness in the global economy, a firm must view the world as its marketplace.In globalized markets(全球化的市场) and industries, financial capital might be obtained in one national market and used to buy raw materials in another one. Manufacturing equipment bought from a third national market can be used to produce products that are sold in a fourth market. Thus, globalization increases the range of opportunities for firms competing in the new competitive landscape.The internationalization of markets and industries makes it increasingly difficult to think of some firms asdomestic companies(本国公司).Global competition has increased performance standards(绩效标准) in many dimensions, including those of quality, cost, productivity, production introduction time, and smooth, flowing operations.The development of newly industrialized countries(新兴工业化国家) is changing the global competitive landscape and significantly increasing competition in global markets. The economic development of Asian countries outside of Japan is increasing the significance of Asian markets. In the new competitive landscape, firms are challenged to develop the optimal level of globalization(最优的全球化水平).1.2.2Technological ChangesThere are three categories of technological trends and conditions through which technology is significantly altering the nature of competition(竞争的性质).·Increasing rate of technological change and diffusion(不断上升的技术变迁率和扩散率)Both the rate of technology changes and the speed at which new technologies become available and are used have increased substantially over the last 20 years. Perpetual innovation(持续的创新) is a term used to describe how rapidly and consistently new, information-intensive technologies (信息密集的技术)replace older ones. The shorter product life cycles(产品生命周期) resulting from these rapid diffusions of new technologies place a competitive premium on being able to quickly introduce new goods and services into the marketplace. In fact, when products become somewhat indistinguishable because of the widespread and rapid diffusion of technologies, speed to market(产品进入市场的速度) may be the only source of competitive advantage. Some evidence suggests that after only 12 to 18 months, companies likely will have gathered information about their competitors’R&D and product decisions. Often, merely a few weeks pass before a new American-made product introduced in U.S. markets is copied, manufactured, and shipped to the United States by one ormore companies in Asia.Today’s rate of technological diffusion stifles the protection firms possessed previously through their patents(专利). Patents are now thought by many to be an effective way of protecting proprietary technology(专利技术) primarily in the pharmaceutical and chemical industries only. Many firms competing in the electronics industry often do not apply for patents to prevent competitors from gaining access to the technological knowledge included in the patent application(包含在专利申请中的技术知识).·The Information Age(信息时代)Dramatic changes in information technology have occurred in recent years. Personal computers, cellular phones, artificial intelligence(人工智能), virtual reality(虚拟现实), and massive databases are a few examples of how information is used differently as a result of technological developments. Someone believes that electronic mail (E-mail) systems are the firstmanifestation of a revolution in the flow and management of information in companies throughout the world. An important outcome of these changes is that the ability to access and effectively use information has become an important source of competitive advantage in virtually all industries.·Increasing Knowledge Intensity(不断提高的知识密度) Knowledge is the basis of technology. In the new competitive landscape, knowledge is a critical organizational resource and is increasingly a valuable source of competitive advantage. Because of this, many companies now strive to transmute the accumulated knowledge of individual employees into a corporate asset(把个体性职员积存起来的知识转变成公司的资产).Figure 1.2 The New Competitive Landscape1.3The I/O model of Above-average ReturnsFrom the 1960s through the 1980s, the external environment was thought to be the primary determinants of strategies firms selected. The industrial organization model explains the dominant influence of the external environment on firms’ strategic actions. This model specifies that the industry chosen in which to compete has a stronger influence on a firm’s performance than do the choices managers make inside their organizations. Firm performance is believed to be predicted primarily by a range of an industry’s properties(行业属性), including economies of scale(规模经济),barriers to entry(进入壁垒), diversification(产品多元化), product differentiation(产品差异), and the degree of concentration(行业集中度). The I/O model has four underlying assumptions. First, the external environment is assumed to impose pressures and constraints that determine the strategies that would result in above-average returns. Second, most firms competing within a particular industry are assumed to control similar strategically relevant resources and pursue similar strategies. Third, it is assumed that resources used to implement strategies are highly mobile across firms. Because of resource mobility, any resource differences that might develop between firms will be short lived. Fourth, organizational decision makers are assumed to be rational and committed to acting in the firm’s best interests as shown by their profit maximizing behavior(利润最大化行为).The I/O model challenges firms to locate the most attractive industry in which to compete. Competitiveness generally can be increased only when firms find the industry with the highest profit potential(具有最高的利润潜能的行业) and learn how to use their resources to implement the strategy required by the structural characteristics in that industry(行业的结构特征所要求的战略). The five forces model of competition(竞争的五力模型) is an analytical tool used to help firms with this task. This model suggests that an industry’s potential profitability(行业的潜在的赢利性) is a function of interactions among five forces. A firm can use this model to understand an industry’s profit potential and the strategy that should be implemented to establish a defensible competitive position(可防卫的竞争位置). Typically, this model suggests that firms can earn above-average returns by implementing a cost leadership strategy(成本领先战略) or a differentiation strategy(差异化战略).Figure 1.3 The I/O Model of Superior Returns1.4The Resource-based Model of Above-average Returns The resource-based model (基于资源的模型) assumes that each organization is a bundle of unique resources and capabilities that provides the basis for its strategy and is the primary source of its returns. According to this model, differences in firms ’ performances across time are driven primarily by organization ’s unique resources and capabilities rather than by an industry ’s structural characteristics (企业绩效的跨时差异要紧是由组织的独特的资源的能力而非行业的特征驱动的).This model also assumes that over time, firms acquire different resources and develop unique capabilities. As such, all firms competing within a particular industry may not possess the same strategically relevant resources and capabilities. Another assumption of this model is that resources may not be highly mobile across firms. The differencesinresources(资源上的差异) form the basis of competitive advantage.Resources (资源)are inputs into a firm’s production process, such as capital equipment, the skills of individual employees, patents, finance, and talented managers. In general, a firm’s resources can be classified into three categories: physical, human, and organizational capital(实物资本、人力资本和组织资本). Individual resources alone may not yield a competitive advantage. In general, it is through the combination and integration of sets of resources that competitive advantages are formed(竞争优势是通过组合和整合资源集形成的). A capability(能力) is the capacity for a set of resources to integratively perform a task or an activity. Through continued use, capabilities become stronger and more difficulty for competitors to understand and imitate(通过持续的使用,能力变得更强和更加难以被对手理解和模仿). As a source of competitive advantage, a resource should be valuable, rare, costly to imitate, and non-substitutable.Resources are valuable(有战略价值的) when they allow a firm to exploit opportunities and or/neutralize threats in its external environment; they are rare(稀有的) when possessed by few, if any, current and potential competitors; they are costly to imitate(模仿代价高昂的) when other firms either cannot obtain them or at a cost disadvantage to obtain them compared to the firm that already possesses them; they are non-substitutable(不可替代的) when they have no structural equivalents.The resource-based model of competitive advantage suggests that a firm’s unique resources and capabilities provide the basis for a strategy. The strategy chosen should allow the firm to best exploit its core competencies(最佳地利用其核心竞争力) relative to opportunities in the external environment. Core competencies(核心竞争力) are resources and capabilities that serve as a source of competitive advantage.Figure 1.4 The Resource-based Model of Superior Returns1.5Strategic Intent and Strategic MissionStrategic intent(战略意图) is the leveraging of a firm’s internal resources, capabilities, and core competencies to accomplish the firm’s goals in the competitive environment. Strategic intent reflects what a firm is capable of doing as a result of its core competencies and the unique ways they can be used to exploit a competitive advantage. The following examples are expression of strategic intent.“To become a high-performance multinational energy company——not the biggest, but the best.”“Its our strategic intent that customers worldwide view us as their most valued pharmaceutical partner.”“To be the top performer in everything.”“To catch up with and beat Caterpillar.”Strategic mission(战略使命) is a statement of a firm’s unique purpose and the scope of its operations in productand market terms. An effective strategic mission establishes a firm’s individuality and is exciting, inspiring, and relevant to all stakeholders(利害相关者). Together, strategic intent and strategic mission yield the insights required to formulate and implement the firm’s strategies(制定和执行企业战略所要求的洞见). When a firm is strategically competitive and earning above-average returns, it has the capacity to satisfy its stakeholders’interests(满足其利害相关者的利益).1.6StakeholdersStakeholders(企业的利害相关者) are the individuals and groups who can affect and are affected by the strategic outcomes achieved and who have enforceable claims on a firm’s performance(对企业绩效的可实施的要求权). Claims against an organization’s performance are enforced through a stakeholder’s ability to withhold participation essential to a firm’s survival, competitiveness, and profitability. Stakeholders continue to support an organization when its performance meets or exceeds theirexpectations. However, every stakeholder does not have the same level of influence. The more critical and valued a stakeholder’s participation is, the greater a firm’s dependency on it. Greater dependence, in turn, results in more potential influence for the stakeholder over a firm’s commitments, decisions, and actions.The stakeholders involved with a firm’s operations can be separated into three groups. Each of these stakeholder groups expects those making strategic decisions in a firm to provide the leadership through which their valued objectives will be accomplished(提供有助于实现他们看重的目标的领导). But these groups’ objectives often differ from one another, sometimes placing managers in situations where trade-offs have to be made(有时置经理于必须作出二难选择的情形中). It is important that those responsible for managing stakeholder relationships in a country outside their native land use a global mind-set. A global mind-set(全球心态) is the capacity to appreciate the beliefs, values, behaviors, and business practices ofindividuals and organizations from a variety of regions and cultures.The firm’s stakeholders and their interests Capital market stakeholders Goals and Objectives •Shareholders dividends, profit rate•Creditors security of loan Product market stakeholders:•Customers perceived value of the good or the service•Suppliers profitable sales, paymentfor goods, long-termrelationship•Host communities pollution, employment, aids, taxinside-organization stakeholders•Employees monetary and non-monetary interests•Managers monetary andnon-monetary interests1.7Organizational StrategistsSmall organizations may have a single strategist. In many cases, this person owns the firm and is deeply involved with its daily operations. At the other extreme, large, diversified firms(多元化的企业) have many top-level managers. In addition to the CEO and other top-level officials(e.g., chief operating officer and chief financial officer操作总监和财务总监), they have managers who are responsible for the performance of individual business units(个体性业务单位).Typically, stakeholders have high expectations of top-level managers, particularly the CEO. Some believe that every organizational failure is actually a failure of those who hold the final responsibility for the quality and effectiveness of a firm’s decisions and actions.复习题1.解释下列概念:战略竞争力、高于平均的回报、平均回报、风险、战略治理过程、激励不相容、有限理性、战略的敏捷性、资源、能力、核心竞争力、战略意图、战略使命、企业的利害相关者2. 战略竞争力概念中所隐含的前提性假设是什么?企业猎取可持续的战略竞争力的关键或曰前提是什么?什么决定着企业的战略竞争力可维持的时刻的长短?3.战略治理过程的理性模型有何不足?什么缘故各国战略治理教材仍把它作为要紧内容进行讲授?4.传统的企业竞争优势的源泉是什么?在新竞争情景中什么更重要?5.什么缘故讲市场和行业的国际化使要把某些公司看成本国公司越来越困难?6.什么缘故讲在技术快速扩散和传播的情况下,产品进入市场的速度或许是竞争优势的唯一源泉?7.什么缘故药品行业和化学行业的企业比较情愿申请专利,而电子行业的企业一般不情愿申请专利?8.什么缘故讲猎取和有效利用信息的能力已成为所有行业中的竞争优势的重要源泉?9.试述塑造新竞争情景的要紧力量。
战略管理流程讲义(英文版!03资料
And... Will environmental changes make our core competencies obsolete?
Are substitutes available for our core competencies?
Are our core competencies easily imitated?
such as capital equipment, skills of employees, brand names, finances and talented managers
Ch3-8
Resources
What a firm Has...
What a firm has to work with: its assets, including its people and the value of its brand name
Ch3-5
Discovering Core Competencies
Resources
* Tangible * Intangible
Ch3-6
ResouБайду номын сангаасces
What a firm Has...
What a firm has to work with:
its assets, including its people and the value of its brand name
* Financial * Physical * Technological * Organizational
Intangible Resources
* Valuable * Rare * Costly to Imitate * Nonsubstitutable
chap10战略管理英语版
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Separation of Ownership and Managerial Control
(Cont’d)
Introduction
Small firms’ managers are high percentage owners, which implies less separation between ownership and management control
4
CG and Its Effect on the Lives of CEOs
CEOs now serving on fewer external boards CG: Double-edged sword
Can put an end to scandals Might restrictive CEOs (i.e., they won’t take risks)
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Separation of Ownership and Managerial Control
Introduction
Historically, firms managed by founder-owners & descendants Separation of ownership and managerial control allow shareholders to purchase stock, entitling them to income (residual returns) – implies ‘risk’ for this group who manage their investment risk Shareholder value reflected in price of stock
chap5战略管理英语版
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Customers: Their Relationship with Business-Level Strategies
(Cont’d)
…Five components of customer relationships 4. What: Determining which customer needs to satisfy
5
Chapter 5: Strategy at the Business Level
Overview: Five content areas
Defining business-level strategy Relationship between customers and strategy Differences in business-level strategies 5-Forces Risks of business-level strategies
但是顾客的选择还和竞争者有关
所以竞争战略的实质是:如何给予顾客较之竞
争者更多的价值
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提升顾客价值(1)
顾客认知利益:顾客可以识别的各种效用,具体
包括产品的功能、质量、服务、包装、企业形象 等等 顾客认知利益是一种带有主观认知色彩的概念, 是顾客在使用产品或接受服务中获得的实在感受 (受益)。
7
Introduction
(Cont’d)
Customers are the foundation of successful
business strategies
Who will be served by the firm What needs those target customers have that firm will satisfy How those needs will be satisfied by the firm
chap9战略管理英语版
5
案例
20世纪90年代中期,韩国以LG为主的家电企业 凭借其成本优势异军突起,在微波炉国际市场上大 幅降价,夺取市场份额,把市场价打压到欧美日企 业的成本价一线,使欧美日企业几乎无利可赚,陷 入困境。 格兰仕人洞察并准确分析国际微波炉市场竞争 战略态势,果断出招,与欧美日三大跨国公司合作 结成战略联盟。格兰仕不花钱将其微波炉制造工厂 的全部搬到格兰仕工业区,按照协议优势互补、互 惠互利,合作生产微波炉关键配件。战略联盟使双 方在国际市场实现了双赢,这种双赢合作方式吸引 了200多家跨国公司来与格兰仕结成战略联盟。
Licensing agreements Distribution agreements Supply contracts
Outsourcing commitments
12
Primary Type of Cooperative Strategy: Strategic Alliances
Cooperative strategies and why firms use them Three types of strategic alliances Business-level cooperative strategies & their use Corporate-level strategies in diversified firms Cross-border strategic alliances’ importance as an international cooperative strategy Two approaches to manage cooperative strategies
6
案例:
chap6战略管理英语版
Procter & Gamble’s Diversification Strategy
Procter & Gamble (P&G) (Cont’d) Synergy created with combining toothbrush and toothpaste businesses
10
Levels of Diversification (N=3)
1. Low Levels
Single Business Strategy
Corporate-level strategy in which the firm generates 95% or more of its sales revenue from its core business area
Builds synergy: value added by corporate office adds up to more than the value if different businesses in the portfolio were separate and independent
Dominant Business Diversification Strategy
Corporate-level strategy whereby firm generates 70-95% of total sales revenue within a single business area
11
Levels of Diversification (N=3)
2. Moderate to High Levels
Strategic Management(战略管理-中英文)
Environments: 环境 •Internal内部 •External 外部
Competing via 竞争方 式…
Rivalry: 竞争 •Business level strategies 经营层次战略 •Multiproduct strategies 产品多元化战略 •Mergers & acquisitions 并购
Competing via 竞争方 式…
Rivalry: 竞争 •Business level strategies 经营层次战略 •Multiproduct strategies 产品多元化战略 •Mergers & acquisitions 并购
Market entry: 市场进入 •Across borders 跨国 •Alliances 联盟 •Entrepreneurship 创业
Market entry: 市场进入 •Across borders 跨国 •联盟 •Entrepreneurship 创业
External Environment Analysis 外部环境分 析
Potential Entrants 潜在竞争 对手 General Environment 总体环境
机动性增加,风险降低,资本需求降低 Allows the firm to focus on its core competencies. 发展核心竞争 力
Potential problems with outsourcing: 外包可能产生的问题 Job losses for the firm’s communities. 企业岗位减少 Hard to reverse outsourcing decisions. 外包决策难以收回
StructureandControls战略管理英文版
• Marketing is the main function for tracking new product ideas • New product R&D is emphasized • Most functions are decentralized • Formalization is limited to foster change and promote new ideas • Overall structure is organic; job roles are less structured
Centralized or Decentralized Bureaucratic or Non-bureaucratic
Balance on these dimensions may change over time
Structure will evolve over time with:
Changes in strategy Degree of diversification Geographic scope Nature of competition
Ch11-8
Functional Structure for Differentiation Strategy
President and Limited Staff
R&D
Marketing
New Product
Human
R&D
Marketing Operations Resources
Finance
Ch11-11
Multi-Divisional Structure
Chief Executive Officer
Corporate R&D
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Level Level
strategy Strategy
■
Functional / Operational
Strategy
Levels of
Strategy
CS BS
■ Where is organization going ■ Market , Competitive Advantage
F/O S
Strategic Management
Agenda
■ Strategy &
Strategy Management Conditions
■ Environmental ■ Internal ■ Strategic ■ Strategy
Analysis Choice Selection Criteria
Environmental Conditions
Political factors
Economic factors
PEST ANALYSIS
Social cultural factors
Technological
Environmental Conditions
Global Market Convergence
Management
Focus
Strategic
■ ■ ■ Long Whole term organization
Effectiveness
■ቤተ መጻሕፍቲ ባይዱ
Cost / profit measures
■
NPD / Market share
Levels of
Strategy
■ ■
Corporate Business
Simple
Complex
Static
Historical analysis Forecasting
Decentralization of organizations
Dynamic
Scenario planning
Experience and Learning
Environmental Conditions
Understanding the Nature of
■ Reason of Environment ■ Environmental ■ Simple ■ Dynamic and
the Environment
Analysis
Uncertainty Static Condition
Issue
■ Complex Issue ■ Case Analysis: Scenario ■ Review Planning
Choice and Implementation
Analysis,
Strategy emerges from The interaction of all
Implement
Three elements
Analysis
Choice
The Strategy Process: Stages
Analysis
may have long & price
■ Resource: strengths & weakness ■ Current & possible
future strategy: assess
what
competitors
are concentrating on the
All differ
■ Number &
Global strategy
Competition global
Cost advantages
Environmental Conditions
Case: Fax Industry
A The development of email
High potential impact
B
Costumers
perceptions of email
Strategy & Strategy Management
Strategy a Definition
Strategy is the direction
and
scope
of
an organization
over the long
term;
for the organization through
which achieves advantage its to configuration meet of resources of
fax compared with A C
Cost of fax and raw materials
B C High uncertainty
Competitors
Analysis
term implication for e.g. Cost
■ Objectives: can affect the behavior in the market place &
■ Resource , Implement
Do a
right
thing
to Do a
thing
right !
Patterns of
Strategy Development
Environment
Continuity
Incremental
Flux
Transformational
The Relationship Between
Implementation
■ Organization ■ Change
structure issue
management issue
■ Strategy development process
■ Culture issue ■ Reword system
Environmental Conditions
Within
changing environment ,
the needs
markets
and to fulfil stakeholder
expectation (Johnson & Scholes,1999)
Strategy Vs Functional
Functional
■ ■ ■ Short term Parts of organization Efficiency
■ Mission and goals 1 2
Choice
■ Environmental analysis ■ Resource analysis
■ Level and strategy,
Bases of strategic choices 3 ■ Generating ■ Evaluating options options