管 理 學 第八章 策略管理 Strategic Management What’s your unique value? - Michael Porter We’re not in the hamburger business; we’re in show business. —Ray Kroc, founder of McDonald’s

 本公司「可能做」（環境的機會）， 「能做」（公司的長處）之間的搭配。  Structure, Conduct, Performance  Can You Say What Your Strategy Is? Most executives cannot articulate the objective, scope, and advantage of their business in a simple statement. If they can’t, neither can anyone else.  Michael Porter 1980, Competitive Strategy, 五力分析，三種基本策略 1985, Competitive Advantage, 價值鏈 1990, The Competitive Advantage of Nations, 鑽石模式

綱要 1. What and Why 策略管理 2. 策略管理程序 3. 公司及事業層級之策略 4. 當今環境變遷下之策略實務問題 3

1. What is SM What managers do to develop the organization’s strategies. Strategies The decisions and actions that determine the long-run performance of an organization. Business Model  Whether customers will value what the company is providing.  Whether the company can make any money doing that. 4

Why is SM Important 1.It results in higher organizational performance. 2.It requires that managers examine and adapt to business environment changes. 3.It coordinates diverse organizational units, helping them focus on organizational goals. 4.It is very much involved in the managerial decision-making process. 5

Identify the organization’s current mission, goals, and strategies External Analysis ● opportunities ● threats Internal Analysis ● strengths ● weaknesses Formulate strategies Implement Strategies Evaluate Results SWOT Analysis 2. Strategic Management Process (1~4: Strategic planning, feedback) 6

Step 1: Identifying the organization’s current mission, goals, and strategies ◦ Mission: the firm’s reason for being  The scope of its products and services  鐵路， Shell, Hollywood, McDonald ◦ Goals  Measurable performance targets 7

SWOT (TOWS) analysis (Strengths, Weaknesses, Opportunities & Threats) Step 2: Doing an external analysis ◦ environmental scanning, focuses on identifying opportunities and threats. Step 3: Doing an internal analysis ◦ Assessing organizational resources, capabilities, and activities:  Strengths, Weaknesses  Core Competence: major value-creating skills and capabilities. 人無我有，人有我優，人優我轉。 8

Identifying the Organization’s Opportunities Organization’s Opportunities Organization’s Resources/Abilities Opportunities in the Environment 9

Step 4: Formulating strategies ◦ Develop and evaluate strategic alternatives ◦ Select appropriate strategies for all levels in the organization that provide relative advantage over competitors ◦ Match organizational strengths to environmental opportunities ◦ Correct weaknesses and guard against threats 10

Step 5: Implementing strategies ◦ effectively fitting organizational structure and activities to the environment. ◦ 第一線人員 11

Step 6: Evaluating results ◦ How effective have strategies been? ◦ What adjustments, if any, are necessary? ◦ feedback 12

策略管理程序 1. 辨認目前使命，目標，策略 2. 衡外情：環境之機會、 威脅 3. 量己力：組織之優缺點 4. 形成策略 5. 執行策略 6. 評估結果 13

策略討論 1. 選對產業、產品。如何提供獨一無二的價值，以滿 足重要消費者的重要需求？不一樣 vs. 更好 2. A set of hypotheses about cause and effect. 理想 vs. 目 前樣子， what to do? what not to do? 取捨, 聚焦。 3. Kim & Mauborgne, Blue Ocean Strategy: How to create uncontested market space and make the competition irrelevant, 提升，降低，創造，消去某 些因素。太陽劇團， Swatch, QB House, CQ2. 4. 隆中對，農夫與律師，牙醫師， 85 度 C ，孔慶翔，小 胖，松竹梅， Union Bank, Shouldice. 14

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3. 策略之三個層級 1. 公司層級 (corporate) 2. 事業層級 (business) ： SBU 3. 功能層級 (functional) 討論： network level 17

Levels of Organizational Strategy 18

3.1 公司層級策略 1. 總策略：成長，穩定，精簡 2. 公司投資組合 ( 或 BCG) 矩陣： 金牛，明星，問號，狗 19

Corporate Strategies ◦ Top management ’ s overall plan for the entire organization and its strategic business units Types of Corporate Strategies ◦ Growth: expansion into new products and markets ◦ Stability: maintenance of the status quo ◦ Renewal: redirection of the firm into new markets 20

Grand Strategies Grand Strategies Corporate Growth Strategies Corporate Stability Strategies Corporate Retrenchment Strategies Abundant Environmental Opportunities Critical Environmental Threats Corporate Stability Strategies Critical Weaknesses Valuable Strengths Environmental Status Firm Status 21

Growth Strategies : Merger, Acquisition… 1. Concentration ： Direct expansion (e.g.7-11) ◦ Focusing on a primary line of business and increasing the number of products offered or markets served. 2. Integration Vertical Integration ◦ Backward vertical integration: attempting to gain control of inputs (become a self-supplier). e.g. eBay. ◦ Forward: attempting to gain control of output through control of the distribution channel (eliminating intermediaries). e.g. Apple, Dell. 22

Growth Strategies (cont ’ d) Horizontal Integration (L’oreal, The Body Shop) ◦ Combining operations with another competitor in the same industry to increase competitive strengths and lower competition among industry rivals. 3. Diversification Related Diversification (American Standard Cos) ◦ Expanding by combining with firms in different, but related industries that are “strategic fits.” Unrelated Diversification (Samsung) ◦ Growing by combining with firms in unrelated industries where higher financial returns are possible. 23

Stability Strategy ◦ A strategy that seeks to maintain the status quo to deal with the uncertainty of a dynamic environment, when the industry is experiencing slow- or no-growth conditions, or if the owners of the firm elect not to grow for personal reasons. e.g. Kellogg’s. 24

Renewal Strategies ◦ Developing strategies to counter organization weaknesses that are leading to performance declines.  Retrenchment: focusing of eliminating non-critical weaknesses and restoring strengths to overcome current performance problems.  Turnaround: addressing critical long-term performance problems through the use of strong cost elimination measures and large-scale organizational restructuring solutions. 25

Corporate Portfolio Analysis (BCG Matrix) Developed by the Boston Consulting Group Considers market share and industry growth rate Classifies firms as:  Cash cows: low growth rate, high market share  Stars: high growth rate, high market share  Question marks: high growth rate, low market share  Dogs: low growth rate, low market share 26

The BCG Matrix Stars Cash Cows Dogs Question Marks Market Share High Low High Low Anticipated Growth Rate 27

3.2 事業層級策略 1. 競爭優勢之創造與持續 2. 競爭策略之創造與持續 產業分析：五種作用力 基本策略：成本領導，差異化，集中 28

Business (Competitive) Strategy ◦ A strategy focused on how an organization should compete in each of its SBUs (strategic business units). 29

Competitive Advantage ◦ An organization ’ s distinctive competitive edge. Quality as a Competitive Advantage ◦ Differentiates the firm from its competitors. ◦ Can create a sustainable competitive advantage. ◦ Represents the company ’ s focus on quality management to achieve continuous improvement and meet customers ’ demand for quality. 30

1. 價值創造 ＝ 對顧客的價值 － 生產成本 2. 競爭優勢之一般性基礎： 效率，品質，創新，顧客回應 個案： Intel 在哪個構面還不夠好？ 競爭優勢 31

零件修復 技術指導 品質 飛行時數保證 時間 維修時間縮短 能量 Overhaul Performance Minimum 安全 機械零故障 準點 按班表 備用管理 機隊 發動機 產業鏈 32

一般性的價值鏈模式 1. 主要活動： 進貨後勤，作業，出貨後勤，行銷， 服務。 2. 支援活動： 基礎結構，人力資源，物料管理。 33

企業價值鏈 34

作業基礎經濟地圖 35

Sustainable Competitive Advantage ◦ Continuing over time to effectively exploit resources and develop core competencies that enable an organization to keep its edge over its industry competitors. ◦ Create and sustain a Competitive Advantage will give a company above-average profitability. 36

Five Competitive Forces Threat of New Entrants ◦ The ease or difficulty with which new competitors can enter an industry. Threat of Substitutes ◦ The extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitutes products and services. Bargaining Power of Buyers ◦ The degree to which buyers have the market strength to hold sway over and influence competitors in an industry. 37

Five Competitive Forces Bargaining Power of Suppliers ◦ The relative number of buyers to suppliers and threats from substitutes and new entrants affect the buyer-supplier relationship. Current Rivalry ◦ Intensity among rivals increases when industry growth rates slow, demand falls, and product prices descend. 38

Forces In The Industry Analysis Current Rivalry Industry Competitors Suppliers New Entrants Buyers Substitutes Threat of New Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of Suppliers 39

Three Generic Competitive Strategies Cost Leadership Strategy ◦ Seeking to attain the lowest total overall costs relative to other industry competitors. Differentiation Strategy ◦ Attempting to create a unique and distinctive product or service for which customers will pay a premium. Focus Strategy ◦ Using a cost or differentiation advantage to exploit a particular market segment rather a larger market. 討論：創新與量產循環， stuck in the middle 40

41 1. 製藥業： Merck, Pfizer, Eli Lilly 高研發支出， 高價格；其他藥廠係低低群組。 2. 煙草葉： Philip Morris (prospector), Reynolds (analyzer), American (defender), Liggett (reactor) 3. 航空業： American, United, Delta (D), America West (CL), Southwest (F), TWA, NWA, USAir, Continental (S) 4. 兼顧：彈性製造技術，如 Toyota’s lean production system, mass customization 策略群組 41

描繪企業之策略圖：西南航空公司 42

Accor Formula Hotel 43

4. Strategic Management Today Strategic Flexibility New Directions in Organizational Strategies ◦ e-business ◦ customer service ◦ innovation 44

Exhibit 8 – 7Creating Strategic Flexibility Know what’s happening with strategies currently being used by monitoring and measuring results. Encourage employees to be open about disclosing and sharing negative information. Get new ideas and perspectives from outside the organization. Have multiple alternatives when making strategic decisions. Learn from mistakes. Source: Based on K. Shimizu and M. A. Hitt, “Strategic Flexibility: Organizational Preparedness to Reverse Ineffective Strategic Decisions,” Academy of Management Executive, November 2004, pp. 44–59. 45

Strategies for Applying e-Business Techniques Cost Leadership ◦ On-line activities: bidding, order processing, inventory control, recruitment and hiring Differentiation ◦ Internet-based knowledge systems, on-line ordering and customer support Focus ◦ Chat rooms and discussion boards, targeted web sites 46

Customer Service Strategies Giving the customers what they want. Communicating effectively with them. Providing employees with customer service training. 47

Innovation Strategies Possible Events ◦ Radical breakthroughs in products. ◦ Application of existing technology to new uses. Strategic Decisions about Innovation ◦ Basic research ◦ Product development ◦ Process innovation First Mover ◦ An organization that brings a product innovation to market or use a new process innovations 48

First-Mover Advantages – Disadvantages Advantages Reputation for being innovative and industry leader Cost and learning benefits Control over scarce resources Opportunity to begin building customer relationships and customer loyalty Disadvantages Uncertainty over exact direction technology and market will go Risk of competitors imitating innovations Financial and strategic risks High development costs 49

補充： Team work 1. Case study: a manager’s dilemma (p.178) 2. Thinking critically about ethics (p.182) 3. Internet-based exercise (p.195) 50

3. 為自己訂作 Career Planning 1. 分析自己：應用 SWOT 2. 訂定五年生涯目標：工作，學習，生 活 3. 訂定五年詳細行動計畫 4. 回饋檢查、修正以上步驟內容之一致 性 51

4. Most admired companies Mission Goal Strategies

5. 上網作業 Levitt: 未來屬於那些在機會出現前就發現他 們的人。請上網找出能「創造一個需求（或 一個市場）並去滿足它。」的案例，例如 西南航空：鎖定利基市場，最快最便宜。 戴爾電腦：跳過經銷商，產品直接賣給你。 Wal-Mart: 鄉村包圍城市，點線面突圍。 Herb Kelleher, Michael Dell, Steve Jobs, Bill Gates, Andrew Grove, Fred Smith, Ted Turner, Jeff Bezos, Howard Schultz, Richard Branson, 張忠謀，蔡明介 …… 53

回顧 1. SWOT analysis 2. 比較 competitive strategy, advantage VS. Benchmarking 54

Terms to Know core competencies SWOT analysis corporate strategy growth strategy diversification stability strategy renewal strategy retrenchment strategy turnaround strategy BCG matrix business or competitive strategy competitive advantage cost leadership strategy differentiation strategy focus strategy stuck in the middle first mover 55