注会英语【战略】CPA English for Corporate Strategy and Risk Management

Corporate Strategy and Risk Management 1．战略分析——外部环境、内部资源、能力与核心竞争力

2．战略选择

3．战略实施

4．战略控制

5．风险管理实务

一. Strategic Analysis

1. The PESTEL model（core topic）

2. The life cycle model

Penetration pricing

Set a relatively low initial entry price

3. Porter’s five forces model (core topic)

Porter looked at the structure of industries. In particular, he was interested in assessing industry attractiveness, by which he meant how easy it would be to make above average profits（超额利润）（for shareholders and to fund adequate investment）. He concluded that industry attractiveness （行业吸引力）depends on five factors or forces.

4. Strategic group （战略群组）:

（1）Have similar characteristics, e.g. size （2）Pursue similar competitive strategies over time, e.g. heavy advertising

（3）

Have similar assets and skills, e.g. quality image 5. Porter’s diamond

Porter tried to answer the following questions:

Why does a nation become the home base （总部， 根据地） for successful

international competitors in an industry? Germany is renowned for car manufacture; Japan is prominent in consumer electronics （消费性电子产品）.

Why are firms based in a particular nation able to create and sustain competitive

advantage against the world’s best competitors in a particular field?

Why is one country often the h ome of so many of an industry’s world leaders?

Porter called the answers to these questions the determinants （决定因素） of national

competitive advantage. He suggested that there are four main factors which determine national competitive advantage and expressed them in the form of a diamond.

迈克尔·波特识别出国家竞争优势的四个决定因素，构建了钻石模型。

Related and supporting industries 相关和支持性行业的存Firm strategy, structure and

Favorable factor conditions: physical resources such as land, minerals and weather; capital; human resources; knowledge and infrastructure.

There must be a strong home market demand for the product or service.

The success of an industry can be due to its suppliers and related industries.

Organization goals can be determined by ownership structure.

1. Benchmarking

Benchmarking is the process of systematic comparison of a service, practice or process. Its use is to provide a target for action in order to improve competitive position.

基准分析是企业和竞争对手在劳务、实践或流程等方面系统进行比较的过程。其主要目的就是为提升竞争力而设定相关目标。

The main benefits include: 主要好处包括：

Improved performance and added value 提升业绩和增加价值

Improved understanding of environmental pressure 更加深刻理解环境压力

Improved competitive position 提升竞争地位

A creative process of change 创造性的变化过程

A target to motivate and improve operations 促进和改进运营的目标

Increased rate of organizational learning 提升组织学习速度

2. Strategic capability

Strategic capability can also be divided into threshold capabilities and capabilities for competitive advantage.

Threshold capabilities（基本能力）. These are the minimum capabilities needed for the organization to be able to compete in a given market.

Capabilities for competitive advantage（具有竞争优势的能力）. The capabilities that allow an organization to beat its competitors. These capabilities must meet the needs and expectations of its customers. Unique capabilities are not enough-they must be valued by the customers.

contributing to a competitive advantage and which were not.

The approach involves breaking dow n the firm into five ‘primary’ and four ‘support’