对外经济贸易大学战略管理课件第五章
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5
The Five Generic Competitive Strategies Which One to Employ?
5-1
Chapter Roadmap
Five Competitive Strategies Low-Cost Provider Strategies Differentiation Strategies
5-13
Approach 2: Revamping the Value Chain
Bypass the activities and costs of distributors and dealers
by selling directly to consumers.
Coordinate with suppliers to bypass activities, speed up
costs of each activity down year after year
Find ways to restructure value chain to eliminate
nonessential work steps and low-value activities
Work diligently to create cost-conscious corporate cultures
Key to Gaining a Competitive Advantage
Convince customers firm’s product / service offers
superior value
A A A
5-3
good product at a low price superior product worth paying more for best-value product
5-4
Business-Level Strategy
Key Issues
Which good or service to provide
Business-level Strategy
How to manufacture it
How to distribute it
5-5
Why Do Strategies Differ?
Feature
broad employee participation in continuous costimprovement efforts and limited perks for executives
Strive
to operate with exceptionally small corporate staffs
and defensive moves to counter maneuvers of rivals prevailing market conditions
Responses to Initiatives
to strengthen its market position
Narrower in scope than business strategy
New raw material Forward integration
Backward integration Change location relative to suppliers or buyers
Approach 1: Controlling the Cost Drivers
Key factors that distinguish one strategy from another
Is the firm’s market target broad or narrow?
Is the competitive advantage pursued linked to low costs or product differentiation?
Capture scale economies; avoid scale diseconomies Capture learning and experience curve effects
Manage costs of key resource inputs
Consider linkages with other activities in value chain Find sharing opportunities with other business units Compare vertical integration vs. outsourcing Assess first-mover advantages vs. disadvantages Control percentage of capacity utilization Make prudent strategic choices related to operations
What Is “Competitive Strategy”?
Deals exclusively with a company’s
business plans to compete successfully
Specific
efforts to please customers
Offensive
5-8
Striving to achieve lower overall costs than rivals on products that attract a broad spectrum of buyers. Differentiating the firm’s product offering from rivals’ with attributes that appeal to a broad spectrum of buyers. Concentrating on a narrow price-sensitive buyer segment and on costs to offer a lower-priced product. Concentrating on a narrow buyer segment by meeting specific tastes and requirements of niche members Giving customers more value for the money by offering upscale product attributes at a lower cost than rivals
5-14
Examples of ValueCreating Activities Associated with the Cost Leadership Strategy
SOURCE: Adapted with the permission of The Free Press, an imprint of Simon & Schuster Adult Publishing Group, from Competitive Advantage: Creating and Sustaining Superior Performance, by Michael E. Porter, 47. Copyright © 1985, 1998 by Michael E. Porter.
5-6
Fig. 5.1: The Five Generic Competitive Strategies
5-7
THE FIVE GENERIC COMPETITIVE STRATEGIES
Low-Cost Provider Broad Differentiation Focused Low-Cost Focused Differentiation Best-Cost Provider
Best-Cost Provider Strategies
Focused (or Market Niche) Strategies The Contrasting Features of the Five Generic
Competitive Strategies: A Summary
5-2
1
5-9
LOW-COST PROVIDER STRATEGIES
Effective Low-Cost Approaches:
cost-savings that are difficult imitate. Avoid reducing product quality to unacceptable levels. Competitive Advantages and Risks: Greater total profits and increased market share gained from underpricing competitors. Larger profit margins when selling products at prices comparable to and competitive with rivals. Low pricing does not attract enough new buyers. Rival’s retaliatory price cutting set off a price war.
5-10
Pursue
5.2
Cost Drivers: The Keys to Driving Down Company Costs
5-11
How to Obtain a Cost Advantage
Determine and control Reconfigure, if needed
Cost Drivers
Figure 4.2
5-15
Keys to Success in Achieving Low-Cost Leadership
Scrutinize each cost-creating activity, identifying cost drivers Use knowledge about cost drivers to manage
Alter production process Change in automation
New distribution channel New advertising media Direct sales in place of indirect sales
5-12
Value Chain
Cost conscious corporate culture Employee participation in cost-control efforts Ongoing efforts to benchmark costs Intensive scrutiny of budget requests
their performance, or otherwise increase overall efficiency.
Reduce handling and shipping costs by locating suppliers close to the firm’s own facilities.
Aggressively pursue investments in resources and capabilities
百度文库
that promise to drive costs out of the business
5-16
Characteristics of a Low-Cost Provider
Strategy and Competitive Advantage
Competitive advantage exists when a firm’s strategy
gives it an edge in
Attracting
Defending
customers and
against competitive forces
The Five Generic Competitive Strategies Which One to Employ?
5-1
Chapter Roadmap
Five Competitive Strategies Low-Cost Provider Strategies Differentiation Strategies
5-13
Approach 2: Revamping the Value Chain
Bypass the activities and costs of distributors and dealers
by selling directly to consumers.
Coordinate with suppliers to bypass activities, speed up
costs of each activity down year after year
Find ways to restructure value chain to eliminate
nonessential work steps and low-value activities
Work diligently to create cost-conscious corporate cultures
Key to Gaining a Competitive Advantage
Convince customers firm’s product / service offers
superior value
A A A
5-3
good product at a low price superior product worth paying more for best-value product
5-4
Business-Level Strategy
Key Issues
Which good or service to provide
Business-level Strategy
How to manufacture it
How to distribute it
5-5
Why Do Strategies Differ?
Feature
broad employee participation in continuous costimprovement efforts and limited perks for executives
Strive
to operate with exceptionally small corporate staffs
and defensive moves to counter maneuvers of rivals prevailing market conditions
Responses to Initiatives
to strengthen its market position
Narrower in scope than business strategy
New raw material Forward integration
Backward integration Change location relative to suppliers or buyers
Approach 1: Controlling the Cost Drivers
Key factors that distinguish one strategy from another
Is the firm’s market target broad or narrow?
Is the competitive advantage pursued linked to low costs or product differentiation?
Capture scale economies; avoid scale diseconomies Capture learning and experience curve effects
Manage costs of key resource inputs
Consider linkages with other activities in value chain Find sharing opportunities with other business units Compare vertical integration vs. outsourcing Assess first-mover advantages vs. disadvantages Control percentage of capacity utilization Make prudent strategic choices related to operations
What Is “Competitive Strategy”?
Deals exclusively with a company’s
business plans to compete successfully
Specific
efforts to please customers
Offensive
5-8
Striving to achieve lower overall costs than rivals on products that attract a broad spectrum of buyers. Differentiating the firm’s product offering from rivals’ with attributes that appeal to a broad spectrum of buyers. Concentrating on a narrow price-sensitive buyer segment and on costs to offer a lower-priced product. Concentrating on a narrow buyer segment by meeting specific tastes and requirements of niche members Giving customers more value for the money by offering upscale product attributes at a lower cost than rivals
5-14
Examples of ValueCreating Activities Associated with the Cost Leadership Strategy
SOURCE: Adapted with the permission of The Free Press, an imprint of Simon & Schuster Adult Publishing Group, from Competitive Advantage: Creating and Sustaining Superior Performance, by Michael E. Porter, 47. Copyright © 1985, 1998 by Michael E. Porter.
5-6
Fig. 5.1: The Five Generic Competitive Strategies
5-7
THE FIVE GENERIC COMPETITIVE STRATEGIES
Low-Cost Provider Broad Differentiation Focused Low-Cost Focused Differentiation Best-Cost Provider
Best-Cost Provider Strategies
Focused (or Market Niche) Strategies The Contrasting Features of the Five Generic
Competitive Strategies: A Summary
5-2
1
5-9
LOW-COST PROVIDER STRATEGIES
Effective Low-Cost Approaches:
cost-savings that are difficult imitate. Avoid reducing product quality to unacceptable levels. Competitive Advantages and Risks: Greater total profits and increased market share gained from underpricing competitors. Larger profit margins when selling products at prices comparable to and competitive with rivals. Low pricing does not attract enough new buyers. Rival’s retaliatory price cutting set off a price war.
5-10
Pursue
5.2
Cost Drivers: The Keys to Driving Down Company Costs
5-11
How to Obtain a Cost Advantage
Determine and control Reconfigure, if needed
Cost Drivers
Figure 4.2
5-15
Keys to Success in Achieving Low-Cost Leadership
Scrutinize each cost-creating activity, identifying cost drivers Use knowledge about cost drivers to manage
Alter production process Change in automation
New distribution channel New advertising media Direct sales in place of indirect sales
5-12
Value Chain
Cost conscious corporate culture Employee participation in cost-control efforts Ongoing efforts to benchmark costs Intensive scrutiny of budget requests
their performance, or otherwise increase overall efficiency.
Reduce handling and shipping costs by locating suppliers close to the firm’s own facilities.
Aggressively pursue investments in resources and capabilities
百度文库
that promise to drive costs out of the business
5-16
Characteristics of a Low-Cost Provider
Strategy and Competitive Advantage
Competitive advantage exists when a firm’s strategy
gives it an edge in
Attracting
Defending
customers and
against competitive forces