多角化與垂直整合策略

多角化與垂直整合策略ISU_企管四B策略管理Lecture62009.10.28大綱多角化策略：定義與範(fàn)圍多角化目的多角化前提多角化基本測(cè)驗(yàn)多角化評(píng)估準(zhǔn)則資源與多角化討論多角化定義DefinitionSelectingandmanagingagroupofdifferentbusinessescompetinginseveralindustriesandproductmarketsWhatBusinessesthefirmshouldbeinHowthecorporateofficeshouldmanagethegroupofbusinessesFirm’sbusinessesasaportfolioofcorecompetencies價(jià)法值各與形多舌角罰化H議o碌w肢c挽o蔥r渡p瀉o跟r扎a帆t胞e銹l簡(jiǎn)e掘v歌e顏l發(fā)s其t壁r箭a夫t腔e紛g負(fù)y沃h毒e液l塞p度s纖t逮o偏g俊a蘋(píng)i崗n飽v洞a辮l蕩u面e爆?P拖r戚o永d側(cè)u香c膏t凱D秧i農(nóng)v招e倚r擋s速i鐘f弄i思c貨a浴t茂i離o亂nR尼e被d蠅u蕩c嚴(yán)e騾v若a蓮r際i未a歷b年i敬l眾i宗t徒y(tǒng)極i濫n板t餐h醬e侍f葡i唯r克m決’濃s岸p絞r義o雞f型i暑t勉a浸b忘i扒l膽i陰t述y畢i對(duì)n策t凱h粘a顫t梢i艙t樓s節(jié)e援a(chǎn)參r紛n胡i縱n率g鼠s抄a報(bào)r勿e注g潛e飛n快e敢r礎(chǔ)a明t狂e貿(mào)df談r癢o弊m鉛s證e核v紹e桶r撿a界l臉d掏i艙f具f瘋e燥r帽e賄n朵t里b飄u隔s舌i賓n屈e劑s很s桶u距n恨i搞t鴿sR羽e賄q鞠u粗i眠r蓮e溝t姑h遇e房誠(chéng)c豪r呼a猶f粒t帥i瘋n莫g辛o壘f撇am桑u非l位t囑i箏-侄b爬u透s掌i弄n青e瞇s山s談s扇t俘r忙a雅t反e輝g英yR澤e拔s并o鏟u球r吳c首e悉S輩y進(jìn)n阻e嫂r叼g愚yS飄e丘a澡r營(yíng)c尾h匯i嶺n計(jì)g階f哭o彼r彎E良c廊o脈n全o吧m煎i信c婚o劃f檢S列c否o泉p課eI混n那t狼e郊r棒-業(yè)b策u女s狗i襲n窮e唉s假s世m(xù)弄a學(xué)r次k怖e本t鋒i厘n洋g枝o摔r戰(zhàn)p駕r柴o完d床u腸c嘆t宏i愚o溫n價(jià)占值庸與黑多劫角礙化V歐a當(dāng)l鞭u夸e瓣o找f餃c退o榜r軍p肆o歪r譽(yù)a客t曉e派l直e溝v眨e頑l鏟s教t藏r鐮a役t犯e易g奸y地i典s飼d隔e旺t妙e竊r捆m嶺i練n伸e漿d絕b興yT錘h房誠(chéng)e販d繪e鳴g敬r男e騎e擇t殲o凡w矮h抬i藥c潤(rùn)h梳t(yī)歲h寶e樹(shù)b且u興s禁i形n開(kāi)e桌s猛s醋e遺s肌i亂n隔t故h溉e凡p動(dòng)o乘r鍋t碼f冤o巴l隆i綠o嘗a銀r潮ew環(huán)o旨r凈t拉h(huán)性m賣(mài)o養(yǎng)r奶eu盆n澡d籃e歸r階t炊h崇e堅(jiān)m旅a孤n駕a瞇g危e山m崗e顫n創(chuàng)t疼o碑f牧t廟h場(chǎng)e演c渠o養(yǎng)m諒p喜a徐n豎y掀t旨h徒a陳n璃t鏈h許e肅y吵w折o漫u稍l鑒d各b男eu職n紗d船e汁r走a警n寺y掉o伶t課h諒e以r航o材w靠n箏e炎r織s軟h澤i對(duì)pA覆l蛙t欺e恭r紋n蓮a剃t兆i狐v伶e烏o扯f擦o腰w敢n屑e郊r倆s刺h鞠i澡pI輩n玻v西e晃s尾t丟m世e坊n番t四f繞o勺r旦f筐i敢n搖a災(zāi)n訓(xùn)c閱i幻玉a漁l布c尾o推n臉s歐i遠(yuǎn)d引e篩r檔a剛t盾i憶o奸nB教e瘋i規(guī)n盼g奮a寨b咳u東s荷i華n樸e潮s嘉s理u丸n闊d辣e停r敬a坑c澆o已m洞p廳a岸n井yB宏e奶i攔n兵g那a堆c遼o后m術(shù)p架a識(shí)n宮y鋼u欺n控d魄e系r善a澇b煙u掩s液i們n壤e純s妻s雨g吵r焦o進(jìn)u奏p多聰角之化屋重歪要太問(wèn)皺題H膠o弟w們t甚o李C坑h母o貞o尾s叔e(cuò)塌t備h事e轉(zhuǎn)g較e稿n綢e胞r傭i霞c廈s費(fèi)t度r繳a般t駁e巾g烘y書(shū)o螞f鎮(zhèn)d言i先v期e李r游s驗(yàn)i般f敏i賞c經(jīng)a頂t腳i燦o晃nH無(wú)o琴w叢m歸u夫c云hW奶h程a載t箱k掘i唯n松d壤o簽f逗r芬e榴l畫(huà)a幟t搞e繪d旋n絮e減s紅sH刺o陣w呢t奮h唯eI蓬n癢d啞u瞇s殼t綱r雙i禿a茫l慎S氣t徒r亭u錄c潮t底u(yù)弱r劇em漏a嫁y撓I陶n手f束l危u跟e限n驢c辭e譯t餃h稅e佳R胃e寬l州a罷t壁i六o覆n送b勝e爐t挨w構(gòu)e潮e省n飲d顆i駁v筐e系r閘s框i集f貞i罰c貪a傳t在i滋o笑n急a述n測(cè)d物P由e木r研f蠶o蛋r量m蘆a撤n念c裹eH鴉o訪w箭t翅h插e(cuò)遞p娘o鹿r盟t婦f臨o堆l孔i址o驚c子o轎n甲c睛e牲p尸t丹i粘n漲f悉l撞u袖e犧n柔c疼e隱t到h異e摧r服e半l翼a晨t致i究o諷n蛛b用e訊t坡w殖e置e翼n案d截i偷v鋸e殃r突s丸i視f茫i忍c榆a舒t繳i正o衣n勵(lì)a城n考d拜p同e腔r遞f五o愈r炭m惡a尿n走c瞎eS厲t戒r嶺a鼓t登e初g肅i遺c州P葬o克s仙i堅(jiān)t姑i此o頃n&默C蒙a借s曬h如F魯l紙o紋w衛(wèi)C猜h仁a腎r艘a遍c裳t唐e魔r析i嫌s睜t喉i顫cB冤a惑l斗a織n訪c奇e糖o爺f香t天h柴e絞s旋e備c圈a遣s橫h永f替l燒o乒w多攤角存化屋程充度L確o善w濱L侮e瘦v嚴(yán)e往l茶s塵o陣f電D社i隊(duì)v疊e玻r柔s丘i港f期i晴c以a梯t鄉(xiāng)豐i笛o等nS乎i鵝n興g授l極e披B射u究s挺i繪n葉e俘s探sD燃o(jì)夠m慚i贈(zèng)n捐a胖n隔t謹(jǐn)B籮u揉s崇i系n質(zhì)e狐s脹sM味o晚d雄e較r射a態(tài)t眼e野t攤o竊H粒i艦g奧h蛾L招e兩v峽e勸l江s想o謝f捕D瓜i方v嫩e聚r勺s古i炎f證i笑c聾a緣瑞t砌i昌o紅nR跟e演l橋a盟t污e忙d讀C球o謹(jǐn)n撐s絮t就r載a哥i番n財(cái)e臥dR茶e疾l愁a無(wú)t印e蜘d爛L霉i渾n緩k苦e陪d叮(探M頭i潮x破e霧d嚼R設(shè)e稠l參a曉t料e壇d價(jià)a陸n(yōu)也d免U登n五r污e膽l痕a抽t田e狼d余)V匆e矛r酬y臨H訴i斤g飼h胡L仍e仆v資e宵l渾s昏o給f塌D羅i矩v據(jù)e蹦r奧s見(jiàn)i痕f喚i彩c傲a浮t君i艙o咬nU奏n暮r姥e悟l洞a院t賤e襯d多烤角片化達(dá)目較的原（登1從）R端i跪s蜜k丑S韻h直a夠r充i濃n兆g分狠散棕財(cái)掘務(wù)絹投塑資向風(fēng)敞險(xiǎn)財(cái)些務(wù)艘考含量V廣a忌l泡u對(duì)e廳A爸d撐d爺e殼d資融源鍵綜陽(yáng)效追咳求淹範(fàn)緣瑞疇撞經(jīng)息濟(jì)E癢n掘l薄a膏r封g弓e辜B緣瑞u器s沙i不n傷e肥s憐s嶺S錘c慮o景p餐e尋偵找佩高佛成繞長(zhǎng)獸產(chǎn)媽業(yè)鴿，羽代金替獄成架長(zhǎng)漂趨息緩聾的飯本戰(zhàn)業(yè)B估C晌G模夜式多說(shuō)角毅化蹦目香的脊（燥2稼）I礦n閉n慈o話(huà)v臉a截t鍛i品o朋n破a椒n常d婚L(zhǎng)悲e卻a束r帥n聰i涼n峽g谷P疼u戶(hù)r禿p驢o惜s顛e開(kāi)鹽闢勝可保追艙求翠成怕長(zhǎng)毯或格創(chuàng)首新教的刊新援產(chǎn)禍業(yè)3M虛,臥B默C地G公獅司F刻i弦n扎a悲n孔c技i補(bǔ)a陰l沾E默f悼f誰(shuí)i枕c舌i肯e共n局c毛y內(nèi)睛部釀資目本巖市弟場(chǎng)M酸a捎n障a拼g艱e析r巴P批e柄r與s打o紐奉n撕n肚e嘩l眉C就o詠n份s文i顛d昂e副r左a代t堅(jiān)i孔o(hù)汪n高門(mén)階形經(jīng)撞營(yíng)覆團(tuán)災(zāi)隊(duì)樣特味質(zhì)多雁角攝化撓、訴規(guī)工模甜，攏與過(guò)報(bào)絲式酬威之慚間南關(guān)隆係多殿角暫化烈前店提簽：多稼角斗化咬與羨績(jī)紋效司關(guān)娛係多裕角容化全與袖績(jī)魂效仍間貨關(guān)旅係倒U型銜關(guān)罪係多竭大殘程何度精多騰角揭化副，碗才夢(mèng)能波使碰績(jī)秋效各提群昇辱？多慕數(shù)蹄公錘司中多箭角升化獸結(jié)群果稅均無(wú)折法割有隱效送帶規(guī)來(lái)硬績(jī)騰效鵲提飄昇1稿9怒5犬0房誠(chéng)-具1督9托8祥6年齒間炭，毒多談數(shù)初企毒業(yè)慮多青角或化得是僅以萄購(gòu)梁併膀方妙式穩(wěn)進(jìn)懶行1咱9是5康0委-糟1避9漏8傘6年肝間都，羅美秘國(guó)拐大李公構(gòu)司勵(lì)所辨購(gòu)稈買(mǎi)翻的漂新傷事泛業(yè)印，前超金過(guò)票半霞數(shù)樂(lè)被闖轉(zhuǎn)纏賣(mài)多鑼角行化烏如涼果州要銷(xiāo)有鳴效擔(dān)提銹昇令公反司跳績(jī)值效煤，鴉有捷哪鳥(niǎo)些槐條啟件軋需陰吻竹合艙？多鵝角鍵化易前莫提夠：提槽昇陪績(jī)括效刑的兇關(guān)裕鍵顛問(wèn)求題競(jìng)載爭(zhēng)敗戰(zhàn)脖場(chǎng)銳發(fā)透生絮在事幼業(yè)竄單慌位濤層死級(jí)公壞司脖如受何紡使移新納加駛?cè)腩澥挛諛I(yè)獵單采位寨獲勸得誤成笨功多踢角宣化土必跳然陵會(huì)增露加悠事待業(yè)瘡單距位門(mén)成伙本撤與碧限臣制營(yíng)廢運(yùn)奪成拳本理與所交盆易媽成嘆本如考乞量綜頭效是璃否術(shù)有紋效跟達(dá)亮成股笑票嗎投躺資純?nèi)锁B(niǎo)會(huì)魔隨耀時(shí)買(mǎi)自粘行慌分社散否資畝產(chǎn)事聲業(yè)爽單基位糖的有志形日利禿益是巴什曾麼掠？公恒司速不膜需熟要寄幫斥投炭資倆人添分捕散穗風(fēng)狀險(xiǎn)集準(zhǔn)團(tuán)絨進(jìn)復(fù)入盜特剛定便事祥業(yè)葵單卷位請(qǐng)的泥成號(hào)本偽與奇利沸益可考勇量多賞角癥化皺基蕉本等測(cè)窯驗(yàn)遙：產(chǎn)法業(yè)競(jìng)吸捎引裂力產(chǎn)飛業(yè)偏結(jié)溜構(gòu)致?tīng)钋粦B(tài)鏡分習(xí)析除悶非截新達(dá)產(chǎn)返業(yè)把本粥身塘結(jié)賠構(gòu)法良天好寺，漿否中則源無(wú)療法邪為嶼公箏司轟帶集來(lái)癢好累處進(jìn)僵入殲新光產(chǎn)天業(yè)裹的案結(jié)損構(gòu)牲分旨析有邪吸監(jiān)引騙力絞的犯產(chǎn)弟業(yè)涼，世往初往進(jìn)毫入治障極礙腰很鈴高新蝦產(chǎn)形業(yè)洪「害契義合匆」鐘原繼有斃業(yè)透務(wù)≠契頌合稻度大可北帶世來(lái)熟持充續(xù)左競(jìng)呼爭(zhēng)井優(yōu)困勢(shì)市保場(chǎng)挑進(jìn)因入蕩成嚷本妨很明低所嚴(yán)潛絲式藏謀的煎陷相阱多排角爹化址基栽本吹測(cè)駕驗(yàn)冶：市腫場(chǎng)梳進(jìn)獸入誤成黃本進(jìn)堆入徹新盡產(chǎn)痰業(yè)射的糟成趣本饞，屢與司預(yù)辮期泉利苦潤(rùn)宜估鎮(zhèn)算新組產(chǎn)疼業(yè)橋愈削有冠吸挎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