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Automotive Industry Study Use of Industry Associations and Analysts in Supplemental Reporting Susan M. Hinds, CEO & President © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Scope of Analysis- Key Players JD Powers The Harbour Report Analyst PWC Global Review Internal Management Industry Associations Supplemental Information Sources © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Key Success Factors Auto Industry QUALITY COST SERVICE DESIGN KEY SUCCESS FACTORS JD Powers, Harbour Assoc, Industry Hawks, Internal Mgmt. Internal Mgmt, Harbour, Industry Hawks JD Powers, Internal Mgmt. JD Powers, RL Polk WHO MEASURES THIS © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
JD Powers and Associates “The Voice of the Customer” Proprietary Research J.D. Power and Associates conducts custom research and customer satisfaction measurement and tracking on a proprietary basis. Clients gain access to weekly, monthly, or quarterly data to measure their performance over time and identify areas for improvement. Proprietary services include: quality tracking; sales tracking; retailer quality audits; customer satisfaction tracking; and certification programs to ensure compliance with predetermined industry benchmark standards INDUSTRIES SERVED - Automotive - Boats - Travel - Finance/Ins - Telecom - Homes - Healthcare Founded in 1968, global marketing info. services firm focused on helping businesses & consumers make better decisions through credible, meaningful, and easily accessible customer-based information. © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
JD Powers Awards AUTOMOTIVE FOCUS - New-vehicle quality - The shopping experience - Sales satisfaction - Service satisfaction - Brand loyalty - Online consumer behavior - Emerging technologies - Component quality - Long-term durability - Collision repair JD Powers surveys millions globally & provides awards: Information is compiled into rankings on product quality, customer satisfaction, and industry-specific metrics Highest ranking companies can license the use of name The award program provides consumers better information in their purchasing decisions © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
The Harbour Annual Report “The Voice of Manufacturing” James Harbour Chairman & Founder Ron Harbour President Harbour Consulting Inc.- Founded 1980, internationally recognized mfg. & mgmt. consulting firm focused on Improving competitiveness of mfg. companies by: Lean Business Operations Product & Process Development Cooperative Benchmarking Studies Competitive Research The Harbour Report- A guide to competitive analysis: Comprehensive analysis of Auto Manufacturing Data supplied directly by each mfg (KPI & process) Strengths & Weaknesses by company Key Performance Indicators & strategic analysis Major causes of profit variation by manufacturer © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Voluntary Benchmarking Process- All Major Players Participate © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Harbour and Associates Role © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Global Automotive Financial Review Annual Report PricewaterhouseCoopers has published its fourth annual Global Automotive Financial Review providing an overview of automotive industry trends and financial reporting practices. The report is based primarily on information from the annual reports and Form 10ks for fiscal years ending during 2000 and early 2001 for leading manufacturers and automotive suppliers around the world. The Review includes 4 articles summarizing (1) major trends which influenced financial results in the industry; (2) movement toward value reporting; (3) challenges and solutions for sustainability in the industry; and (4) the continued focus on shareholder value. The Review also presents a series of charts and graphs highlighting important ratios and performance metrics used by industry executives and analysts, as well as quotes from industry chairmen on topics such as e-business transformation, economic and market forces, strategies for success, enhancing shareholder value, and predictions. © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Industry Associations Lacks integration & standards © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Analyst Community Space DaimlerChrysler AG (DCX) Example DateResearch FirmActionFromTo 17-May-04PrudentialDowngradeNeutralUnderweight 26-Apr-04Lehman BrothersUpgradeUnderweightEqual-weight 4-Jun-03JP MorganDowngradeOverweightNeutral 4-Jun-03 Smith Barney Citigroup DowngradeIn-lineUnderperform 19-Mar-03UBS WarburgDowngradeNeutralReduce 31-Jan-03 Banc of America Sec Initiated Neutral 18-Jul-02BernsteinUpgradeMkt PerformOutperform 12-Jul-02UBS WarburgUpgradeReduceHold 29-Jan-02Bear StearnsInitiated Neutral 8-Jan-02Salomon Smth BrnyDowngradeOutperformNeutral RECOMMENDATION TRENDS Data provided by Thomson/First CallThomson/First Call Curr ent Mont h Last Mont h Two Mont hs Ago Thre e Mont hs Ago Strong Buy 3333 Buy0110 Hold2226 Sell2221 Strong Sell 1111 Lacks Independence © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
Company’s Internal Management “Profitless Prosperity” Mindset Key Industry Concerns: Global Platforms, Hyper-Competition, Incentive Wars, Consolidation, Disruptive Technology (Alt. Fuel), Outsourcing, Productivity EXISTING INFRASTRUCTURE- VARIES BY COMPANY 5 year plans linked to annual budget Annual budget linked to KPI’s linked to incentive systems Business planning & competitive intelligence Benchmarking studies Continuous Improvement goals and measurement systems Business process reengineering & IT deployment Cost accounting (process focused) Lean accounting (used in some OEM’s) CRM & Market Studies Risk management systems Capacity & Utilization forecast/measurements systems © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
EBR Impact & Positioning JD Powers -Lacks critical issues focus -Market confusion on interpreting measurements -Lacks standards/definitions -Data ownership/entrenched The Harbour Report -Lacks independent assurance -Enables mfg not investor decisions -Data ownership/entrenched Analyst - Lacks independence -Confusing analysis -Inconsistent opinions among analyst groups -Subjective interpretation & extrapolation PWC Global Review -Lacks market segment analysis -Macro view mfg -KSF not the focus -Sales focus missing Internal Management -Need standard benchmarks -Industry paying for excess -Comparability/Segments -Continuous improvement Industry Associations -Fragmented niche players -Opinion shopping -Lacks integration -Costly duplication EBR Framework Integration Standards Guidelines Measurements XBRL enabled © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
INDUSTRY ANALYSIS Target industries with a specific reason (Filter Criteria: In Pain, Proactive Leadership, Public Comments, Commercial Viability, Regulation Target, Large Institutional Investors) Analyze the infrastructure that exists Understand & identify where gaps exist and where EBR helps/adds value Sell the target audience from their perspective Target Analyze Understand Sell © 2004 STRATEGIC MANAGEMENT HARMONY, LLC
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