Sraegy商務(wù)戰(zhàn)略,澳大利亞紐卡斯?fàn)柎髮W(xué)

InternationalBusinessStrategyLecture2:TheIndustry-BasedViewsofStrategy

&TheResources-BasedViewofStrategyPrincipleLearningObjectivesDevelopanunderstandingofwhatthetermstrategymeansinpracticalandtheoreticalterms.Developanunderstandingoftheindustry-basedviewofstrategyandthefiveforcesframeworkofindustryanalysis.Developanunderstandingoftheresource-basedviewofstrategyanditsimplicationsforIBstrategyformulation.Developanunderstandingoftheimplicationsoftheaboveforthestrategyformulationandimplementationinmultinationalenterprises.

WhatisStrategy?StrategyishowfirmssustainandrenewtheircompetitiveadvantagesinanexternalcompetitiveenvironmentStrategyisafitbetweenthefirm’sexternalsituationanditsinternalresourcesandcapabilitiesFundamentalquestionsWhydofirmsdiffer?Howdofirmsbehave?Whatdeterminesthescopeofthefirm?Whatdeterminestheinternationalsuccessorfailureoffirms?TheEssenceofStrategyKeyquestionsinthestudyofInternationalBusinessStrategyWhatDeterminestheInternationalSuccessorFailureofFirms?IntheWest-Inthe1960sand1970s:ConglomerationSincethe1980s:DiversificationthatfocusedoncorecompetenciesWhyDoFirmsDiffer?Westernfirms(US/UKvs.German/French)Havedifferent(shorter-versuslonger-term)planninghorizons.Emergingeconomies(China,Korea,Russia)Thechallengeistounderstandtherootsofthesedifferences.WhatDeterminestheInternationalSuccessorFailureofFirms?AcquiringandleveragingcompetitiveadvantageTheKey:Sustainingsuchanadvantageovertimeandacrosscountries(regions)throughreplicationandinnovation.Howdofirmsbehave?HowDoFirmsBehave?IndustryCompetitionandtheIOModelIndustry:Agroupoffirmsproducingproducts(goodsand/orservices)thataresimilartoeachother.Structure-Conduct-Performance(SCP)modelTheprimarycontributionoftheIndustrialOrganization(IO)economicsmodelStructure:StructuralattributesofanindustryConduct:Thefirm’sactionsPerformance:Theresultofthefirm’sconductinresponsetoindustrystructureTheprofitabilityofindustriesvariesgreatlyPharmaceuticals 26.8 Gas&ElectricUtilities 10.5Tobacco 22.0 FoodandDrugStores 10.3Household&PersonalProducts 20.5 MotorVehicles&Parts 9.8FoodConsumerProducts 20.3 HomeEquipment 9.5MedicalProducts&Equipment 18.8 Railroads 9.0Beverages 18.8 Hotels,Casinos,Resorts 8.0Scientific&PhotographicEquipt. 16.5 Insurance:LifeandHealth 7.6CommercialBanks 16.0 BuildingMaterials,Glass 7.0Publishing,Printing 14.3 Metals 6.0PetroleumRefining 14.3 Semiconductors&Apparel 14.3 ElectronicComponents 5.8ComputerSoftware 13.5 Insurance:Property&Casualty5.3Electronics,ElectricalEquipment 13.3 FoodProduction 5.3Furniture 13.3 Telecommunications 3.5Chemicals 12.8 ForestandPaperProducts 3.5Computers,OfficeEquipment 11.8 CommunicationsEquipment(4.0)HealthCare 11.5 Airlines (34.8)Medianreturnonequity(%),1999-2002FiveForcesModelandFirmStrategyTheFiveForcesFramework“Translated”andextendedfromtheSCPmodelin1980byMichaelPorter.Akeyproposition:Thefocalfirmperformancecriticallydependsonthedegreeofcompetitivenessofthefiveforceswithinanindustry.Thestrongerandmorecompetitivetheseforcesare,thelesslikelythefocalfirmisabletoearnabove-averagereturn,andviceversa.AlthoughfirmsbenefitfromafavorableFiveForcesenvironmentintheirindustry,theyarenotsimplypassiverecipientsofthosecompetitiveforces.FirmscanusetheFiveForcesModeltoevaluatewhatnewindustriestoenter.FirmscanalsousetheFiveForcesModeltocompetemoreeffectivelywithintheirindustrySUPPLIERSPOTENTIALENTRANTSSUBSTITUTESBUYERSINDUSTRYCOMPETITORSRivalryamongexistingfirmsBargainingpowerofsuppliersBargainingpowerofbuyersThreatofnewentrantsThreatofsubstitutesFiveForcesFrameworkThreatsoftheFiveForcesThreatsindicativeofstrongcompetitiveforcesthatcanFiveforcesdepressindustryprofitabilityRivalryamongAlargenumberofcompetingfirmscompetitorsRivalsaresimilarinsize,influence,andproductofferingsHigh-price,low-frequencypurchasesIndustryslowgrowthordeclineHighexitcostsThreatofLittlescale-basedlow-costadvantages

potentialentry(economiesofscale)InsufficientproductdifferentiationLittlefearofretaliationNogovernmentpolicybanningordiscouragingentryThreatsoftheFiveForces(cont’d)ThreatsindicativeofstrongcompetitiveforcesthatcanFiveforcesdepressindustryprofitabilityBargainingpower ?Asmallnumberofsuppliersofsuppliers ?Suppliersprovideunique,differentiatedproducts?Focalfirmisnotanimportantcustomerofsuppliers?SuppliersarewillingandabletoverticallyintegrateforwardBargainingpower??Asmallnumberofbuyersofbuyers ?Productsprovidelittlecostsavingsorqualityoflifeenhancement?Buyerspurchasestandard,undifferentiatedproductsfromfocalfirm?Buyersarehavingeconomicdifficulties?BuyersarewillingandabletoverticallyintegratebackwardThreatsoftheFiveForces(cont’’d)ThreatsindicativeofstrongcompetitiveforcesthatcanFiveforcescandepressindustryprofitabilityThreatof ?Substitutessuperiortoexistingproductsinqualityand

ofsubstitutes qualityandfunction?SwitchingcoststousesubstitutesarelowCompetitorAnalysisObjectivesWhatarecompetitor’scurrentgoals?Isperformancemeetingitsgoals?Howareitsgoalslikelytochange?StrategyHowisthefirmcompeting?AssumptionsWhatassumptionsdoesthecompetitorholdabouttheindustryanditself?ResourcesandCapabilities-Whatarethecompetitor’’skeystrengthsandweaknesses?Predictions-Whatstrategychangeswillthecompetitorinitiate?-Howwillthecompetitorsrespondtoourstrategicinitiatives?LessonsfromtheFiveForcesFrameworkNotallindustriesareequalintermsoftheirpotentialprofitability.Thetaskforstrategistsistoassesstheopportunities(O)andthreats(T)underlyingeachcompetitiveforceaffectinganindustry,andthenestimatethelikelyprofitpotentialoftheindustry.Thekeyis““tostakeoutapositionthatislessvulnerabletoattackfromhead-to-headopponents,whetherestablishedornew,andlessvulnerabletoerosionfromthedirectionofbuyer,suppliers,andsubstitutes.ThreeGenericStrategiesThreeGenericStrategiesCostleadership:centersonlowcostsandprices.Ahigh-volume,lowmarginapproach.Differentiation:Strategicallyfocusingonhowtodeliverproductsthatperceivetobevaluableanddifferent.Alow-volume,high-marginapproachResearch/developmentandmarketing/salesareimportantfunctionalareas.Focusstrategy:Servingtheneedsofaparticularnicheofanindustrysuchasageographicalmarket,orproductline.Aspecializeddifferentiatorhasasmaller,narrower,andsharperfocusthanalargedifferentiator.Aspecializedcostleaderdealswithanarrowersegmentcomparedwiththetraditionalcostleader.Focusingmaybesuccessfulwhenafirmpossessesintimateknowledgeaboutaparticularsegment.PRODUCTIONTECHNIQUESPRODUCTDESIGNINPUTCOSTSCAPACITYUTILIZATIONRESIDUALEFFICIENCYECONOMIESOFLEARNINGECONOMIESOFSCALECulture;ManagerialefficiencySpeedofcapacityadjustmentLocationadvantagesOwnershipoflow-costinputsBargainingpowerStandardizingdesigns&componentsDesignformanufactureProcessinnovationReengineeringbusinessprocessesIncreaseddexterityImprovedorganizationalroutinesIndivisibli\tiesSpecializationDriversofCostAdvantagesTOTALCUSTOMERRESPONSIVENESSDifferentiationnotjustabouttheproduct,itembracesthewholerelationshipbetweenthesupplierandthecustomer.INTANGIBLEDIFFERENTATIONUnobservableandsubjectivecharacteristicsrelatingtoimage,status,exclusivity,identityTANGIBLEDIFFERENTATIONObservableproductcharacteristics:size,color,materials,etc.performancepackagingcomplementaryservicesDEFINITION:Providingsomethinguniquethatisvaluabletothebuyerbeyondsimplyofferingalowprice.(M.Porter)THEKEYISCREATINGVALUEFORTHECUSTOMERTheNatureofDifferentiationIndustry-basedView:ImplicationsforStrategyForstrategicpractice,theindustrycompetition-basedviewprovides:AsystematicfoundationforindustryanalysisandcompetitoranalysisAsetofanswerstothefourfundamentalquestionsinstrategyEvidencethatindustry-specificconditionsplayanimportantroleindeterminingfirmperformanceCompetingonResource/Capabilities/CompetenceAfirmconsistsofabundleofproductiveresourcesandcapabilities.Resources-Thetangibleandintangibleassetsafirmusestochooseandimplementitsstrategies.Capabilities-Theskillsafirmcanusetobringitsresourcestobear.ResourcesandCapabilitiesFUNCTIONCAPABILITYEXEMPLARSCorporateFinancialmanagement GEManagementStrategiccontrolIBM,SamsungCoordinatingbusinessunitsBP,P&GManagingacquisitions Citigroup,CiscoMISSpeedandresponsivenessthrough Wal-Mart,DellrapidinformationtransferR&DResearchcapabilityMerck,IBMDevelopmentofinnovativenewproducts Sony,3MManufacturingEfficientvolumemanufacturingContinuousImprovement Harley-DFlexibilityZara,SouthwestAirDesignDesignCapabilityApple,NokiaMarketingBrandManagementP&G,PepsiCoQualityreputationJohnson&JohnsonResponsivenesstomarkettrends MTV,L’OrealSales,DistributionSalesResponsiveness PepsiCo,Pfizer&ServiceEfficiencyandspeedofdistribution Amazon,DellCustomerService SingaporeAirlinesCaterpillarIdentifyingOrganizationalcapabilities:AFunctionalClassificationTEAMS1998-2003EXPENDITURESONKEYPLAYERS,1998-2003Valencia(Sp)PabloAimar($20.4m),RubenBaraja($12m)RealMadrid(Sp)ZinedineZidane($68m),LuisFigo($55m),Ronaldo($43m),NicolasAnelka($36m),DavidBeckham($26m),DeportivoLaCoruna(Sp)SergioGonzales($16m),AlbertoLuque($15m)Juventus(It)GianluigiBuffon($49m),PavelNedved($38m),LilianThuram($33m),DavidTrezeguet($21m),MarcodeViao($10m)ACMilan(It)RuiCosta($42m),AlessandroNesta($30m),AndriyShevchenko($24m),AndreaPirlo($16m),Kaka($9m)Parma(It)HidetoshiNakata($30m),SdrianMutu($9m)ManchesterUnited(Eng)RioFerdinand($45m),JuanVeron($42m),RuudvanNistelrooy($30m),CristianoRonaldo($18m),FabienBartez($12m),DiegoForlan($10m),Kleberson($9m),Silvestre($6m)Arsenal(Eng)SylvainWiltord($20m),ThierryHenry($16m),DennisBergkamp($12m),Kanu($7m),Silva($7m),Vieira($6m)Liverpool(Eng)EmileHeskey($16m),ElHadjiDiouf($15m),DietmarHamann($12m),ChrisKerkland($8m),HarryKewell($8m),HIGHESTEXPENDITURESONNEWPLAYERS(Top3inSpain,Italy&England)BarcelonaChelseaLazioManchesterUnitedInterMilanJuventusACMilanArsenalRealBetisNote:Spain,Italy&Englandonly).SuperiorResourcesdonotnecessarilymeanSuperiorCapabilities:TransferFeesandTeamPerformanceinEuropeanSoccerTheVRIOFrameworkVRIOAnmatrixanalysisofthe“sticky”natureofresourcesandcapabilitiesofafirmandthedifficultyoftheirreplicationelsewhere.TwoKeyAssumptions:ResourceheterogeneityEachfirmhasauniquecombinationofresourcesandcapabilitiessuchthatnotwofirmsare““twins.”ResourceimmobilityResourcesandcapabilitiesuniquetoonefirmcannoteasilymigratetocompetingfirms.TheVRIOFramework:FeaturesofaResourceorCapabilityTheVRIOFramework:ValueOnlyvalue-addingresourcescanleadtocompetitiveadvantage,whereasnon-value-addingcapabilitiesmayleadtocompetitivedisadvantage.Iffirmsdonotshednon-value-addingresourcesandcapabilities,theyarelikelytosufferbelow-averageperformanceorbecomeextinct.Overall,thesearchforvaluableresourcesandcapabilitiesisaneverpresentchallengeforvirtuallyallfirms.TheVRIOFramework:RarityTheQuestionofRarityValuablecommonresourcesandcapabilitiescanleadtocompetitiveparitybutnoadvantage.Valuablerareresourcesandcapabilitiescanprovide,atbest,temporarycompetitiveadvantage.Resourcesandabilitiesthataddvalueinnewareasneededtokeepupwiththecompetition(benchmarking).Oncecompetitorsdevelopequalabilities,thennouniqueanddistinctivecapabilityremainsonwhichtobuildacompetitiveadvantage.TheVRIOFramework:ImitabilityTheQuestionofImitabilityValuableandrareresourcesandcapabilitiesareasourceofcompetitiveadvantageonlyifcompetitorshaveadifficulttimeimitatingthem.Imitationoftangibleresources(suchasplants,software,ortruckingfleet)iseasy.Imitationofintangibleresources(knowledge,managerialtalents,andorganizationalculture)ismuchmoredifficult.Whyisimitationsodifficult?TimecompressiondiseconomiesPathdependenciesCausalambiguityTheVRIOFramework:OrganizationTheQuestionofOrganizationHowisafirmorganizedtodevelopandleveragethefullpotentialofitsresourcesandcapabilities?AMoreFundamentalQuestionWhydofirmsexist?Inotherwords,whydopeopleorganizefirms?Theresource-basedviewsuggeststhatfirmsexisttodevelopandleverageresourcesandcapabilitiesbetterthanindividualscould.Resource-basedView:ImplicationforStrategyThestrategicimperativeistofocusonidentifyingtheresourcesandcapabilitiesthatreallycountanddevelopingnewones.Strategistsneedtofocusonwhen,where,andhowresourcesandcapabilitiesareuseful.Afundamentalchallengeishowtodothis,notjustonceoreverynowandthen,butconsistently.Theresource-basedviewoffersasetofanswerstothefourfundamentalquestionsinstrategy.Resource-basedView:ImplicationforStrategyWhydofirmsdiffer?Theassumptionofresourceheterogeneity,thatis,everyfirmisuniqueinitsbundleofresourcesandcapabilities,directlyaddressesthisquestion.Howdofirmsbehave?Theanswerboilsdowntohowtheytakeadvantageoftheirstrengthsembodiedinresourcesandcapabilitiesandovercometheirweaknesses.Whatdeterminesthescopeofthefirm?Valuechainanalysissuggeststhatthescopeofthefirmisdeterminedbyhowafirmperformsdifferentvalue-addingactivitiesrelativetorivals.Managersoftenfailtoassessthemrelativetocompetitors,resultinginanunnecessarilybroadscopewithsomemediocreunits.Whatdeterminestheinternationalsuccessandfailureoffirms?Theresource-basedviewidentifiesfirm-specificresourcesandcapabilitiesasthedeterminants.PrincipleLearningObjectives–revisitedHaveyoudevelopedanunderstandingofwhatthetermstrategymeansinpracticalandtheoreticalterms?Haveyoudevelopedanunderstandingoftheindustry-basedviewofstrategyandthefiveforcesframeworkofindustryanalysis?Haveyoudevelopedanunderstandingoftheresource-basedviewofstrategyanditsimplicationsforIBstrategyformulation?Haveyoudevelopedanunderstandingoftheimplicationsoftheaboveforthestrategyformulationandimplementationinmultinationalenterprises?9、靜夜夜四無無鄰，，荒居居舊業(yè)業(yè)貧。。。1月-231月-23Wednesday,January4,202310、雨雨中中黃黃葉葉樹樹，，燈燈下下白白頭頭人人。。。。23:06:3423:06:3423:061/4/202311:06:34PM11、以我我獨(dú)沈沈久，，愧君君相見見頻。。。1月-2323:06:3423:06Jan-2304-Jan-2312、故人人江海海別，，幾度度隔山山川。。。23:06:3423:06:3423:06Wed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