企业战略管理.ppt

1、September 20021NJU 贾良定第十一讲第十一讲 纵向一体化的战略分析纵向一体化的战略分析1.Strategic Benefits of Vertical Integration2.Strategic Costs of Vertical Integration3.Particular Strategic Issues in Forward Integration4.Particular Strategic Issues in Backward Integration5.Contracts,Tapered Integration and Quasi-Integration6.Some

2、 Illusions in Vertical Integration DecisionsSeptember 20022NJU 贾良定Vertical integration is the combination of technologically distinct production,distribution,selling,and/or other economic processes within the confines of a single firm.As such,it represents a decision by the firm to utilize internal

3、or administrative transactions rather than market transactions to accomplish its economic purposes.In theory,all the functions we now expect a corporation to perform could be performed by a consortium of independent economic entities,each contracting with a central coordinator,which itself need be l

4、ittle more than a desk and a single manager.September 20023NJU 贾良定1.Strategic Benefits of Vertical IntegrationECONOMIES OF INTEGRATIONEconomies of Combined Operations.Economies of Internal Control and CoordinationEconomies of Information.Economies of Avoiding the market.Economies of Stable Relations

5、hips.TAP INTO TECHNOLOGYASSURE SUPPLY AND/OR DEMANDSeptember 20024NJU 贾良定OFFSET BARGAINING POWER AND INPUT COST DISTORTIONSENHANCED ABILITY TO DIFFERENTIATEELEVATE ENTRY AND MOBILITY BARRIERSENTER A HIGHER RETURN BUSINESSDEFEND AGAINST FORECLOSURESeptember 20025NJU 贾良定2.Strategic Costs of Vertical I

6、ntegrationCOST OF OVERCOMING MOBILITY BARRIERSINCREASED OPERATING LEVERAGEREDUCED FLEXIBILITY TO CHANGE PARTNERSHIGHER OVERALL EXIT BARRIERSSeptember 20026NJU 贾良定CAPITAL INVESTMENT REQUIREMENTSFORECLOSURE OF ACCESS TO SUPPLIER OR CONSUMER RESEACH AND/OR KNOW-HOWMAITAINING BALANCEDULLED INCENTIVESDIF

7、FERING MANAGERIAL REQUIREMENTSSeptember 20027NJU 贾良定3.Particular Strategic Issues in Forward IntegrationIMPROVED ABILITY TO DIFFERENTIATEACCESS TO DISTRIBUTION CHANNELSBETTER ACCESS TO MARKET INFORMATIONHIGHER PRICE REALIZATIONSeptember 20028NJU 贾良定4.Particular Strategic Issues in Backward Integrati

8、onPROPRIETARY KNOWLEDGEDIFFERENTIATIONSeptember 20029NJU 贾良定5.Contracts,Tapered Integration and Quasi-IntegrationCONTRACTS AND THE ECONOMIES OF INTEGRATIONIt is essential to recognize the possibility that some economies of integration could be gained by the right type of long-term or even short-term

9、 contract between independent firms.TAPERED INTEGRATIONTapered integration is partial integration backward or forward,the firm purchasing the rest of its needs on the open market.September 200210NJU 贾良定Advantages:Tapered integration results in less elevation in fixed costs than full integration.The

10、degree of taper(the proportion of product or service purchased outside)can be adjusted to reflect the degree of risk in the market.Taper can also be used to guard against imbalance between stages.Tapered integration reduces the risk of locked-in relationships to the extent of the degree of taper.It

11、also gives the firm some access to outside R&D activities and can provide a partial solution to the problem of internal incentives.Tapered integration allows the firm to prove that a threat of full integration is credible,which provides a strong discipline on suppliers or customers and may avoid the

12、 necessity of full integration to offset bargaining power.September 200211NJU 贾良定QUASI-INTEGRATIONQuasi-integration is the establishment of a relationship between vertically related businesses that is somewhere in between long-term contracts and full ownership.minority equity investment;loans or loa

13、n guarantees;prepurchase credits;exclusive dealing agreements;specialized logistical facilities;cooperative R&D.September 200212NJU 贾良定6.Some Illusions in Vertical Integration DecisionsA strong market position in one stage can automatically be extended to the otherOnly if the integration per se prod

14、uced some tangible benefits would integration allow the extension of market power,because under these circumstances it would improve the competitiveness of the combined entity.It is always cheaper to do things internally.September 200213NJU 贾良定It often makes sense to integrate into a competitive bus

15、inessFirms in such an industry are earning low returns and are competing vigorously to improve quality and serve customers.There are many firms to choose from in buying and selling.Vertical integration can dull incentives and blunt initiative.September 200214NJU 贾良定Vertical integration can serve a s

16、trategically sick businessEach stage of a vertical chain must be strategically sound to insure the health of the enterprise as a whole.If one link is sick,the sickness is more likely to spread to the other healthy units.Experience in one part of the vertical chain automatically qualifies management

17、to direct upstream or downstream units.September 200215NJU 贾良定第十二讲第十二讲 横向战略的战略分析横向战略的战略分析1.The Growing Importance of Horizontal Strategy2.Intrrelationships Among Business Units3.The Steps of Formulating Horizontal Strategy4.Interrelationships and Diversification Strategy5.Organizational Mechanisms f

18、or Achieving Interrelationships6.How to Manage Horizontal Organization?September 200216NJU 贾良定Horizontal strategy is a coordinated set of goals and policies across distinct but interrelated business units.It is required at the group,sector,and corporate levels of a diversified firm.It does not repla

19、ce or eliminate the need for separate business and/or business unit strategies.Rather,horizontal strategy provides for explicit coordination among business units that makes corporate or group strategy more than the sum of the individual business unit strategies.September 200217NJU 贾良定1.The Growing I

20、mportance of Horizontal StrategyDiversification philosophy is changingEmphasis is shifting from growth to performanceTechnological change is proliferating interrelationships and making them more achievableMultipoint competition is increasingSeptember 200218NJU 贾良定2.Intrrelationships Among Business U

21、nitsTangible InterrelationshipsProcurement Interrelationships.Source:common purchased inputs;Possible forms of sharing:joint procurement.Technological Interrelationships.Source:common product(or process)technology,common technology in other value activities,one product incorporated into another,inte

22、rface among products;Possible forms of sharing:joint technology development,joint interface design.September 200219NJU 贾良定Infrastructure Interrelationships.Source:common firm infrastructure needs,common capital;Possible forms of sharing:shared raising of capital,shared cash utilization,shared accoun

23、ting,shared legal department,shared government relations,shared hiring and training,etc.Production Interrelationships.Source:common location of raw materials,identical or similar fabrication(or assembly)process,identical or similar testing/quality control procedures,common factory support needs;Poss

24、ible forms of sharing:shared inbound logistics,shared component fabrication,shared assembly facilities,shared testing/quality control facilities,shared factory indirect activities,shared site infrastructure.September 200220NJU 贾良定Market Interrelationships.Source:common buyer,common channel,common ge

25、ographic market;Possible forms of sharing:shared brand name,cross selling of products,bundled or packaged selling,cross subsidization of complementary products,shared marketing department,shared sales force,shared service/repair network,shared order processing system,shared physical distribution sys

26、tem,shared buyer or distributor financing organization.September 200221NJU 贾良定Intangible InterrelationshipsSources:same generic strategy,same type of buyer(though not the same buyer),similar configuration of the value chain(e.g.,many dispersed sites of mineral extraction and processing),similar impo

27、rtant value activities(e.g.,relations with government).Although value activities cannot be shared,these similarities among business units mean that know-how gained in one business unit is valuable and transferable to another.Testing:How similar are the value activities in the business units?How impo

28、rtant are the value activities involved to competition?How significant is the know-how that would be transferred to competitive advantage in the relevant activities?September 200222NJU 贾良定Competitor InterrelationshipsThey stem from the existence of rivals that actually or potentially compete with a

29、firm in more than one industry.These multipoint competitors necessarily link industries together because actions toward them in one industry may have implications in another.September 200223NJU 贾良定3.The Steps of Formulating Horizontal StrategyIdentify all tangible interrelationships.(see Figure2 A&B

30、)The first step in doing so is to examine value chains of each business unit for actual and possible opportunities for sharing.In a diversified firm with many business units,to simplify the analytical task of identifying interrelationships,it may be possible to break up a diversified firm into a num

31、ber of clusters of business units that have many interrelationships among themselves,but relatively few with other clusters.September 200224NJU 贾良定September 200225NJU 贾良定Trace tangible interrelationships outside the boundaries of the firm.A firm will rarely compete in all the industries that are rel

32、ated to its current business units.Thus,it is necessary to identify interrelationships between a firms existing business units and other industries not currently in its portfolio.Identify possible intangible interrelationships.Signals of potential intangible interrelationships include similarities i

33、n generic strategy,buyer type,or value chain configuration.Many potential intangible interrelationships are usually present,which makes screening them to access their importance to competitive advantage an essential task.September 200226NJU 贾良定Identify competitor interrelationships.(Figure 1)A firm

34、must identify all its multipoint competitors,potential multipoint competitors,and competitors pursuing different patterns of interrelationships.Assess the importance of interrelationships to competitive advantage.The net competitive advantage from a tangible interrelationship is a function of the ad

35、vantage from sharing,the costs of sharing,and the difficulty of matching the interrelationships.The challenge is to isolate the important ones.September 200227NJU 贾良定Develop a coordinated horizontal strategy to achieve and enhance the most important interrelationships.(in a variety of ways)Share app

36、ropriate value activities.Coordinate strategic postures of related business units.Distinguish the goals of business units.Coordinate offensive and defensive strategies against multipoint competitors and competitors with different interrelationships.Exploit important intangible interrelationships thr

37、ough formal programs for exchanging Know-How.September 200228NJU 贾良定Diversify to strengthen important interrelationships or create new ones.Sell business units that do not have significant interrelationships with others or that make the achievement of important interrelationships more difficult.Crea

38、te horizontal organizational mechanisms to assure implementationSeptember 200229NJU 贾良定4.Interrelationships and Diversification StrategyTangible interrelationships should be the starting point for formulating diversification strategy.The presence of interrelationships per se is not sufficient justif

39、ication for entering an industry unless they allow a firm to transform an unattractive industry into an attractive one.Seeking industries with both an attractive structure and interrelationships that will yield the firm a competitive advantage in competing in those industries are the dual guides to

40、diversification strategy.September 200230NJU 贾良定Diversification Based on Tangible InterrelationshipsA market-oriented diversification strategy aims to sell new products to common buyers,channels,or geographic markets in order to reap the benefits of market interrelationships.A product-oriented diver

41、sification strategy aims to produce similar products with shared production value activities.Procurement interrelationships often stem from production interrelationships.A technology-oriented diversification strategy aims to develop or enter new industries based on similar core technologies,that inv

42、olve products sold to either existing or new markets.September 200231NJU 贾良定Diversification Through Beachheads(intangible interrelationships)A key test of diversification opportunities based on intangible interrelationships is their potential as a beachhead.Diversification and Corporate ResourcesDiv

43、ersification is a means to widen a firms stock of assets and skills by expanding the perimeter of the value activities in which it participates.The best diversification is that which does both-it reinforces the firms existing strengths and creates the basis for new ones.September 200232NJU 贾良定5.Orga

44、nizational Mechanisms for Achieving InterrelationshipsHorizontal StructureHorizontal structure refers to temporary or permanent organizational entities that cut across business unit boundaries,supplementing the business unit structure.Grouping Business Units.Groups(and sectors)should be constructed

45、around the interrelationships that are most significant for competitive advantage,growing out of a systematic look at all the interrelationships within the firm.Unless one form of interrelationship is dominant throughout an entire firm,different groups should be based on different types of interrela

46、tionships.September 200233NJU 贾良定Partial Centralization.It may be appropriate to centralize value activities because of important interrelationships,while still maintaining the profit responsibility of business units.Other Cross-Business Unit Organization Mechanisms.Market Focus Committees.Technolog

47、y,Channel and Other Interrelationship Committees.Temporary Task Forces.Group or Corporate Interrelationship Champions.A final structural device is the appointment of executives at the group,sector,or corporate level to act as champions for interrelationships.September 200234NJU 贾良定Horizontal Systems

48、Horizontal Strategic Planning.First,the corporate planning department can accept responsibility for identifying interrelationships and initiating steps to exploit them.Second,group and sector executives can be given responsibility for horizontal strategy and the content of the group plan should conc

49、entrate on interrelationships.A third approach is to add an interrelationships section to business unit plans.Horizontal Procedures.Horizontal Incentives.September 200235NJU 贾良定Horizontal Human Resource PracticesPersonnel Rotation among Business Units.Some Firmwide Role in Hiring and Training.Promot

50、ion from Within.Cross-Business Unit Forums and Meetings.Education on Interrelationship concepts.Horizontal Conflict Resolution ProcessesSenior management always plays an important role by setting the tone for how business units should interact and by acting as final arbiters of any disputes.Septembe