工商管理專業(yè)MBALecture04004課件

RevisionDiagramsDrItaO’DonovanStrategicManagementThinkingandKnowingThinkingisakeycomponentofcognition.Whenwethink,weperceive,classify,manipulateandcombineinformationAttheendoftheprocess,weknowsomethingwedidnotknowbefore(itispossiblethisnewknowledgeisincorrectNeedtorememberwethinknotbylanguagealone,wethinkinshapes,imagesWaysofthinkingDeductiveReasoningconsistsofinferringspecificinstancesfromgeneralprinciplesorrulese.g.KiranistallerthanSunielSophiaisshorterthanSunielThereforeKiranistallerthanSophiaInductivereasoningistheoppositeofdeductivereasoning.Itconsistsofinferringgeneralprinciplesorrulesfromspecificfacts.InductivereasoningrequiresustotestfactsorhypothesesRememberthecardexampleaskingwhichonestoturnuptobesurethestatementwastrue.OtherthingstowatchoutforwhenthinkingFailuretoutiliseacomparisongroupControlgroupforcomparisonConfirmationBias:wetendtoseekevidencethatconfirmsourhypothesis.Rememberifthereisanexceptiontheruleiswrong.AlwayslookforevidencePlanning&DesignSchool,CreativityandEmergenceThedesignschoolisbasedontheideaofrationalplanning,basedonstrategicanalysisoftheinternalandexternalenvironment.Theideaisthatmanagersengageindeliberate,rationalanalysis.Thedesignschooldoesallowfortheideaofcreativity.Thisisintermsoftheoriginalconceptionoftheidea/concept/strategy,andhowitaltersovertimeastherealitiesoftheinternalandexternalenvironmentareconsideredbythestrategists.Agoodwaytothinkofthisisifyouweredesigningandbuildingahouse.Conceptaltersastheconceptandideasbecomerealities.ToolsyouuseareSWOTanalysisseeslidesLecture2,andnext2slidesKeypointsDesignschoolConsistency:thestrategymustnotpresentmutuallyinconsistentgoalsandpoliciesConsonance:

thestrategymustrepresentanadaptiveresponsetotheexternalenvironmentandtothecriticalchangesoccurringwithinit.Advantage:thestrategymustprovideforthecreation/maintenanceofcompetitiveadvantageintheselectedareaofactivityFeasibility:Thestrategymustneitherovertaxavailableresourcesnorcreateunsolvablesubproblems5StrengthsandWeaknessesChecklist6Marketing:

productquality&differentiation,marketshare&research,pricingpolicies,distributionchannels,promotionalprogrammes,customerservices,advertisingResearchandDevelopment:

R&DcapabilitiesinproductandprocessManagementInformationSystem:speed,responsiveness,quality,expandability,user-orientatedsystemManagementTeam:skills,valuecongruence,teamspirit,experience,coordinationOperations:controlofrawmaterials&quality&inventory,productioncoststructure&capacity,energyefficient,facilitiesandequipmentFinance:financial&operatingleverage,balancesheetratios,stockholderrelations,taxsituationHumanResources:Employeecapabilities,morale,developmentandturnover,personnelsystems.6EnvironmentalChecklistSocietalChanges:Customerperspectiveschange,productdemandordesignGovernmentalChanges:newlegislationEconomicChanges:interestrates;exchangerates,realpersonalincomechangesCompetitiveChanges:adoptionnewtechnologies;newcompetitors,pricechanges,newproductsSupplierChanges:changeininputcosts;supplychange,changesinnumberofsuppliersMarketChanges:newuseofproducts,newmarkets;productobsolesence7KeypointsofEntrepreneurshipsStrategyexistsinthemindoftheleaderasperspective,thisisalongtermdirection,avisionoftheorganisation’sfuture.Theprocessofstrategyformationissemiconsciousatbest,rootedinleader’sexperienceandintuition,thestrategymaybeconceivedoradoptedfromothers,buttheLeaderwillinternaliseitinhisorherownbehaviour.TheLeaderpromotesthevisionsingle-mindedly,maintainedclosepersonalcontrolofimplementationThestrategicvisionisthusmalleable,thestrategycanbedeliberateandemergent,deliberateinvisionandemergentishowitunfolds.Theorganisationisequallymalleable,responsivetotheleader’sdirectives,manyoftheproceduresandpowerrelationshipsaresuspendedtoallowleadertomanoeuvreEntrepreneurialstrategytendstoformofaniche,oneormorepositionsinmarketprotectedformtheforcesofoutrightcompetitionRichardBransonCEOVirginCorporationclassicEntrepreneurStrategyFormationKeyPointsStrategyformulationisprimarilyconcernedwiththehowquestion,withprocess:Howarestrategiesformed,implementedandchanged?Wehavediscussedseveralwaysofthinkingaboutstrategiesabroadperspectivewouldsuggesttheprocessisseenvariously:Rational,Intentional,Goal-directed,aswellasIntuitive.Whatisclearisthattheirinnotoneunifyingtheoryofhowitis.NotnecessarilyaproblemFOURPHASESOFFORMULATIONIdentification,MissionSetting,AgendaSettingDiagnosis:ExternalAssessmentInternalAssessmentConception:OptionGeneration,OptionselectionRealisation:Actiontaking,Performancecontrol(SEEPYRAMIDDIAGRAM)MainstrategyformationactivitiesExternalassessmentAgendaSettingInternalAssessmentMissionSettingOptionGenerationOptionSelectionActionTakingPerformanceControlIdentifyingDiagnosingRealisingConceivingCommonElementsinSuccessfulStrategiesSuccessfulStrategyEffectiveImplementationSimpleConsistentLongtermsGoalsProfoundunderstandingofthecompetitiveenvironmentObjectiveappraisalofresourcesBasicFrameworkstrategyasalinkbetweenthefirmanditsenvironmentStrategicFitFundamentaltothisviewistheideaofstrategicfit.Forthestrategytobesuccessful,itmustbeconsistentwiththefirm’sexternalenvironmentandwithitsinternalenvironment,itsgoals,andvalues,resourcesandcapabilities,andstructureandsystems.ForexampleGeneralMotors(USA)longtermdeclineassociatedwithfailuretobreakawayfrommulti-brandmarketsegmentationandtoadapttochangingautomobilemarket.THEFIRMGoalsandValuesResourcesandCapabilitiesStructureandSystemsTHEINDUSTRYENVIRONMENTCompetitorsCustomersSuppliersSTRATEGYStrategyExample:NokiaVISIONOurvisionisaworldwhereeveryoneisconnected.Everyonehasaneedtocommunicateandshare.Nokiahelpspeopletofulfillthisneedandwehelppeoplefeelclosetowhatmatterstothem.Wefocusontechnologythatisintuitive,ajoytouse,andbeautiful.Wearelivinginanerawhereconnectivityisbecomingubiquitous.Thecommunicationsindustrycontinuestochangeandtheinternetisatthecentreofthistransformation.TodaytheinternetisNokia’squest.Nokia’sstrategyreliesongrowing,transformingandbuildingtheNokia’sbusinesstoensurefuturesuccess.STRATEGYWeseektogrow,transformandbuildNokiabusinessbasedonourbusinessstrategiesandstrategiccapabilities.OurbusinessstrategiesreflecttheprimaryfocusofeachofNokia’sbusinessareasasfollows:LeadandwininmobiledevicesGrowconsumerinternetservicesAcceleratetheadoptionofbusinesssolutionsLeveragescaleandtransformsolutionsininfrastructure.Ourstrategiccapabilitiesarethepriorityareaswhereweareinvestingwiththeaimofgainingcompetitiveadvantage.Thefollowingcapabilitiescanbesharedamongourseveralbusinessareas.consumerunderstandingBrandTechnologyandarchitectureChannelsandsupplychain.Source(July2009)Remembertoalwayscheckwhatcompaniessayaboutthemselvesagainsttheinternalrealityofthecompanyandtheperceptionsintheexternalenvironment.PERFORMANCEMANAGEMENTFRAMEWORKSERVICE/BUSINESSPLANSDIRECTORATEPLANS&STRATEGIESCORPORATE

PLANS&STRATEGIESSTRATEGICPLANORGANISATIONWIDELOCALSTRATEGICOPERATIONALCOMPETITIVEADVANTAGEINDIVIDUALSTAFFPERFORMANCE,ACCOUNTABILITY&APPRAISALSStrategicChangeKeypointsStrategicChangeisanintellectualchallengeintermsofthinkingthroughtheapproachtobeadopted,aswellasaprocessofassistingpeopletodealwithchangeanduncertainty.Inbroadtermsstrategicchangeisconcernedwithfindingswaysofsuccessfullydealingwithchangesinmarkets,governmentpolicies,competitiveness,technologiesetc.Keytochangeistheabilityofthefirmtomaintainpositioninthemarketwhileundergoingamajorchangeprocess.Thechallengeofdualstrategieshowacompanymanagesitsexistingactivitieswhilealsonurturingnewinitiativesthatwillformthebasisforitsbusinessinthefuture.Keyconcerncanbetheexistingcapabilitiesofthefirmandtheindividualcompetenciesofemployeese.g.ManagementsystemsandemployeeskillsExample:BritishAirwaysandContinentalfailedtoestablishlowbudgetairlines.OtherslikeGoogleand3Mhavemanageddualstrategies.HSBCBankinghasmanagedthedualstrategyofcostleadershipanddifferentiationinfullservicebankingandinternetbankingAFrameworkforaChangearchitectureClarityingovernanceandaccountabilityEngagementforkeystakeholdersinappropriatewaysSecuringalignmentfromthemajorityofthekeystakeholderstothechangeprocessEffective,credible,accessibleandappropriatelytransparentperformancemeasurestogaugeprogressandsuccessAbalancedsetofperformancemeasurespresentedonacommonframework(e.g.balancedscorecardapproach)AcquiringordevelopingnewskillsandcapabilitiesandthemobilizationofcommitmentandresourcesLearningtouseourcurrentknowledgetoenhanceourfutureknowledgeinasearchforenhancementofourproductsandservicesCuturalWebasameansofunderstandingorganisationandwhatnewstoriesyoumayneedforChange.Stories:heroes/heroines,successes,disasters,mavericksRoutinesandRituals:thingsthatalwayshappene.gmeetdeadlines,arriveontime‘waythingsaredonearoundhere’Rituals:longhourculture,seniorexecutivemeetingsSymbols:CEOcar,technicaljargon,styleofdressParadigm:keyreasonforbeingeg.newspaperisaboutnewsPowerStructure:Board,departmentalrivalry,managementstyleofexecutive,centralisationOrganisationalStructure:organisationaldesign,communicationsystemControlSystems:targetsandbudgetsCompetingValuesMapFlexibilityanddiscretionInternal

Clan

AdhocracyExternalfocusandintegration

HierarchyMarketFocusandDifferentiationStabilityandcontrolDrItaO'DonovanBeechgroveAssociates22CulturalCompetingValuesExplanationsHierarchyoriginalideaofbureaucracyasinMaxWeberview.LineandcommandstructureMarketorganisationalsoseekscontrolbutdoessobylookingoutwardtakesparticularnoticeoftransactioncost.Keyhereisthatexternalandinternaltransactionsareviewedinmarketterms.ValueflowsbetweenpeopleandstakeholderswithminimalcostanddelayClan,lessfocusonstructureandcontrolandagreaterfocusonflexibility,peopledrivenbyvalues,sharedgoalsandoutputs.Morelikelytobeaflatstructure,peopleandteamsactautonomouslyAdhocracyEvengreaterfreedomthanclanculture,verynecessaryinafastchangingbusinessenvironment.Teamcultureandindvidualculturestrong.Visionaryleaders.DrItaO'DonovanBeechgroveAssociates23ThesourcesofsuperiorprofitabilityRATEOFRETURNABOVETHECOSTOFCAPITALHowdowemakeMoney?INDUSTRYATTRACTIVENESSWhichindustriesshouldwebein?CORPORATESTRATEGYCOMPETITIVEADVANTAGEHowshouldwecompete?BUSINESSSTRATEGYSomeBusinessStrategyFundamentalsAtthebusinessleveloftheindustryfiveforcesareconsideredtothreatenoradvantagethefirm:Theseare:EntrybarriersRivalrybetweenindustryincumbentsSubstituteproductsorservicesThebargainingpowerofsuppliersThebargainingpowerofbuyersStrategyExamples1LowPrice/lowaddedvalue:ClothestradeinUKfrom1990stonow.Assomestoresupgrademerchandisenewonesenteratlowerprice2.LowPrice:verydifficult3.Hybrid:addedvaluewhilekeepingpricesdownsuggestJapanesefirmsdoingthisforyearsandIKEAtheSwedishfurnitureandhouseholdgoodscompany.Needtoconsideroverallcostbasecansustainlowmargins,thisneedstobeconsideredfrombeginningandafollowstrategyforwhenentryhasbeenachieved.4.Valueadded,ordifferentiation:uniquenessofproductorimprovementinproducts.InvestmentinRandD.ordesignexpertise.MercedesCarsGermany,Marketbasedapproaches,powerofthebrand.LeviJeans,TourismincountriesgoodexampleNepal,(Himalayas)China,(ForbiddenCity)Malaysia(Beaches)promotionalbrand.5.FocusedDifferentiation:thisoftenmeanspositioningyourproductinsamecategoryasotherse.g.Chocolates,yourchocolatesmoreexpensivethanothersGuidiva.Knowwhichsegmentyouarecompetingin,needtobeconfidentaboutbreadthofmarketmovetowardsglobalmarketsorfocusstrategy.FailureStrategies:theseareprobablydestinedtofailure,

route6suggestsincreaseinpricewithoutincreaseinvalue,notethisisoftenwhatmonopoliesareaccusedof.RecentlyprivatisedbodiessuchasBT,WaterCompaniesinUK.route7moreseveresuggestsreductioninvalueofproductorserviceandincreaseinrelativepriceroute8suggestsreducingvaluewhilemaintainingprice,thisisalsodangerousThestrategyclockisamarketbasedmodelofoptionsworkingfromtheoutsideinperspectiveItfocusesonthebasicquestionwhatisthevalueoftheproductorservicetotheuser.29DrItaO'DonovanBeechgroveAssociatesThescopeofthefirm:specialisationversusintegrationVerticalProductGeographicScopeScopeScopeSingleIntegratedFirmSeveralspecialisedFirmsInintegratedfirm