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Title,99,StrategyPractitionerTools,CoreTools,October1999,0,TableofContents,1ANALYSISPLAN,2BREAKTHROUGHMODEL,3COMPETITIVEBENCHMARKING,4COMPETITIVEPOSITIONING,5CORECOMPETENCTYANALYSIS,6CUSTOMERSEGMENTATION,7EXPERIENCECURVE,8FINANCIALMODELING,9FITVS.ATTRACTIVENESSMODEL,10FIVEFORCESANALYSIS,11GANTTCHART,12GAPANALYSIS,13GROWTHSHAREMATRIX,14INDUSTRYVALUECHAINANALYSIS,15ISSUETREE/ISSUEMAP,16KEYPERFORMANCEINDICATORS,17MARKETPROFITABILITY,18PORTFOLIOANALYSIS,19REALOPTIONS/STRATEGICOPTION,20SCALECURVE,21SCENARIOENVISIONING,22SENSITIVITYANALYSIS,23SEVENSFRAMEWORK,24STAKEHOLDERANALYSIS,25SWOT,26VALUEBASEDMANAGEMENT,27VALUECHAINANALYSIS,28VALUETREE,29VOICEOFTHECUSTOMER,AnalysisPlanSummary,Theanalysisplandetails aproblem-solving processand spec,ifi,c analysis which mustbedeveloped to assessa hypothesis. Theanalysisplan mustbeflexibleand thatthe analyses to be conductedandthe deliverablestobeproducedmaychange duringthecourse of theproject.,AnalysisPlan,CLIENT EXAMPLE: HYPOTHESIS/ANALYTICAL PLAN,Hypothesis,Analysis,Info. Required,Info. Source,End Products,Overall Hypothesis,Organizational philosophy needs to be modified,Supporting Hypothesis,Existing organization does not adequately support the business strategy,Define business system, operating environment,Define CSFs, organizational requirements along business system,Define how existing organization supports business system, CSFs,Key activities, processes by LOB,CSFs along business system by LOB,Existing organizational elements impacting business system,Management interviews,Secondary research,HR documents,Business System Diagrams,Activity,CSF,Even after adjusting for asset write-up, financial performance has not met corporate expectations or competitive standards due to an inappropriate organization (and cost) structure,Financial performance vs. competitors, budget/plans,Overview of cost structure (e.g., fixed vs. variable costs),ROA, NI adjusted for asset write-ups,Historic and projected financial data,Asset write-up information,Summary cost, volume info for production units,Annual reports, 10Ks, 10Qs, etc.,Company financial reports,Financial department interviews,Financial Metrics,The increasing complexity of business and the evolving importance of, and coordination required between specialized expertise requires changes in the decision-making process and information flows,Define actual vs. perceived vs. “real” organization chart, decision-making process/responsibilities; identify gaps,Define expertise, info required to make decision, organizational requirements,Define evolving nature of organization and information flows,Key decisions,Key individuals involved in decision-making process,Information flows,Management interviews,Organization charts,Memos/documents on management processes,System flow charts,Data/Info Flows,Org Charts,Approach,AnalysisPlan,When To Apply,When it is necessarytolayout problem-solvingprocess in depth/detailandidentifythe analyses which needtobeundertakentovalidatetheselectedhypotheses,Defineanissueonwhichaspecificactiondependsandphrase it as a,“,“yes”orno,”,” question,Establishahypothesis:a statementoflikelyresolutionoftheissueincluding thereasons foranswering,“,“yes”or,“,“no”,Develop an analysis statementthat outlines the,“,“models”that willbeexploredinordertoproveordisprovethe hypothesis,Identifythelikely location or means of obtainingdata to accomplishthe analysis,Develop endproducts(presentations)tographicallyrepresent theoutputofthe analysis,Citations-Clientand Industry Experience,AnalysisPlan,Compaq/Technology/Vasu Krishnamurthy,Galileo/Travel/,Sp,encerLin&Vasu Krishnamurthy,Post OfficeCountersLtd./Transportation Services/K,database,PwC MCS/Consulting/Vasu Krishnamurthy,United Airlines/Travel/Vasu Krishnamurthy,RobertM.Grant, “Contemporary,SourceList,BreakthroughModelSummary,TheBreakthrough model focusesattention on mostsubstantialopportunitiesforcreatingvaluefor customersandshareholders.,BreakthroughModel,External,Internal,Industry,Company,Tre,nds,inthe,economic,environmentin,which the markets,exist,Bestpractices,across thisand,similarindustries,Market/product,strategyandbasis,forcompetition,Capabilitiesofthecompanys,people,processes,technology,systemsand,structure,1,2,3,4,Market/Product,Repositioning,Industry,Transformation,Enterprise,Alignment,BestPractice,Performance,Approach,BreakthroughModel,WhenToApply,UtilizetheBreakthroughmodel t,o id,entify and categorize all opportunitiesto create substantial incremental shareholder value.,Whencreating aBreakthroughmodel,thefollowing criteria should beconsidered:,Summarize al,l op,portunitiesto improve businessperformancefromother analyses,Categorize themintofour groups:,Enterprise alignment,Bestpractice performance,Market/product repositioning,Industrytransformation,Determine approximate economic valueofeachtype ofstrategy,Citations -Client and IndustryExperience,BreakthroughModel,Non-PwC:,Toyota:theleanproductionsystem, Frito-Lay:end-to-endsupply chain,management and the use of,advancedtechnology, Intel:high velocity product,development, A: Internet based,channelsofdistribution,on behalf ofshareholders.,PaulElkin,“,“Mastering BusinessPlanningandStrategy:ThePower and Application ofStrategic Thinking”,Source List,Co,m,petitiveBench,CompetitiveBenchmarkingisusedtoidentifyandmeasurethefactorsthatdeterminewhyaprocesshasspecificcost,qualityortimingattributesandincorporatethebestpracticesintoanactionablechangeplan.Itdoessoinpart,bycomparingacompany,sperformanceinkeyareaswithrespecttoitscompetitors,performance.,ExamplesofpresentingCompetitiveBenchmarkingfindings:,CompetitiveBenchmarking,Months,Home Goods,Perishables,Apparel,Average = 6.7,= Maximum,# = Average or Most Common,= Minimum,0,2,4,6,8,10,12,14,16,18,20,A,B,C,D,E,F,G,I,J,K,L,M,N,NEW PRODUCT DEVELOPMENT CYCLE TIME,Best Practices,3.5,5.0,4.5,6.5,13.5,5.0,6.0,9.0,7.0,6.0,10.5,6.0,4.5,Approach,CompetitiveBenchmarking,WhenToApply,Whilenotacomprehensivecomparison,CompetitiveBenchmarkingillustratestheefficiencyofspecificprocessesincomparisontoacompany,scompetitors.Selectcompaniestobenchmarkagainstcarefully-rememberthatcompaniesoutsid,e,theclient,sindustrymaybethebestcandidates.Ensurethatdatacollectedarecomparableandthether,i,ghtprocessesarebenchmarked;thosewhichh,a,vethebiggestimpactoncustomerservice/satisfaction/value.,Examine the issues most important to thecompanyssituationto determine whether roles, processes,or strategic issues,should bybenchmarked,Identify key performancevariablesand determine whichcompaniesto use forcomparison (both withincompanys,industry and outsidetheindustry),For process benchmarking,determinethemetrics tobe measured; thesecan be keyperformance indicators (KPIs), or,othermeasurements,Establishdatacollectionmethodology (industry sources, on-linedatabases,on-site visits, phone interviews,survey,questionnaires,competitors, etc.),Measure clientcompany performance,Measure performanceof competitorsand best practice leaders,Illustratethespectrum of performanceson anappropriate graph,Determinegapsand reasoning,Develop actionplans/recommendationto address gaps,Implementactions and monitorprogress,Citations- Client and Industry Experience,Competitive Benchmarking,BallCorporation/Packaging /Vasu Krishnamurthy &,MikeWeiss,Motorola/Technology/VasuKrishnamurthy,PwC MCS/Consulting/Vasu Krishnamurthy,United Airlines/Travel/Vasu Krishnamurthy,PaulElkin, “Mastering Business PlanningandStrategy:The,PowerandApplication ofStrategicThinking”,LiamFahey, Robert M. Randall,“,“ThePortableMBA in,Strategy”,Robert M.Grant, “ContemporaryStrategyAnalysis”,3rd,Edition,Michael Gould,Andrew Campbell, Marcus Alexander,“Corporate-Level Strategy: CreatingValue inthe,Multibusiness Company”,Source List,Competitive Positioning Summary,Competitive Positioning analysis showshow acompany is positioned initsindustry relative toitscompetitors,Positioning Map,Example: Entertainment,High,Low,Low,High,Channel Strength,Content Strength,Intellectual property strength,Product strength,Low,Medium,High,Market Strength,Competitive Positioning,Approach,Competitive Positioning,WhenTo Apply,To show clientsthatyouunderstandtheir market and position. Can also beusedto developstrategicrecommendations.,STEP,DATA REQUIRED,SOURCE(S),1.Choose axes that are relevant to customer decision-making (first) and those which differentiate suppliers (second),2.Illustrate where competitors lie on map(s),3.Interpret map for strategic implications (e.g., clusters or open spaces),Information on industry as a whole,Information on competing companies strategies and positioning,Trade associations,Trade periodicals and publications,Information services,Analyst reports,Various companies annual reports and other public information,Interviews with competitor management,Industry experts,Citations- Client and Industry Experience,Competitive Positioning,Barclays GlobalInve,stors,(BGI)/Banking/KIT database,BlueCross/Insurance/MikeWeiss,Boots/Retail/KITdatab,as,e,Galileo/Travel/Sp,en,cerLin&VasuKrishnamurthy,Giddings&Lew,is,/MachineTool/VasuKrishnamurthy,OshKoshB,Gosh?SP/Retail/MikeWeiss,PwCMCS/Consulting/VasuKrishnamurthy,Save&Prosper/Banking/KITdatabase,PaulElkin,“,“MasteringBusinessPlanningandStrategy:ThePowerandApplicationofStrategicThinking,”,”,Robert M. Grant,“,“Contemporary StrategyAnalysis,”,”,Henry Mintzberg,James BrianQuinn,SumantraGhoshal, “The StrategyProcess”,Henry Mintzberg,James BrianQuinn,“,“TheStrategy Process:,Conc,epts, Contexts,Cases”,Sour,CoreCompetencyAnalysisSummary,CoreCompetencyAnalysisprovides apractical and systematicprocesstoidentifya companyscore competencies and assess key competitive advantages.,ExamplesofCoreCompetencyModels:,CoreCompetencyAnalysis,Marketing,Example: McDonalds,Customer,Refill Support,Sales/,Distribution,Other,Customer Service,Critical Strategic Capabilities (SC) - The capabilities in which a company is a leader. These capabilities are the source of competitive advantage.,Critical Enabling Capabilities (EC) - The capabilities in which a company is competitively equivalent to other market leaders. These capabilities are often the source of a barrier to entry.,Strategic/,Financial Planning,Technology,Development,Product,Development,Mfg/Joint,Venture,Core Competence (CC) - A competence which delivers a sustainable competitive advantage in current markets, provides access to a wide variety of markets, and makes a significant contribution to the perceived customer benefits of the end product.,Primary Capabilities (PC) - Minimum functional and technical requirements necessary to participate.,COMPETENCIES MODEL - FRAMEWORK,Fast, affordable, fun, family dining experience,Marketing and brand mgmt.,Training,Franchise mgmt.,Product innovation,BigMac recipe,High quality, low price product sourcing,Efficient operation,Hamburger preparation,Menu selection,Approach,CoreCompetencyAnalysis,WhenToApply,Employ CoreCompetency analysisto evaluatea companyscapabilitiesineachfunction ofthevalue chainwith ahierarchicalmodel whichidentifiescapabilitiesandthedegreeto whichthey provide competitive advant,Adhere to the followingguidelines whenanalyzing core competenciesanddeveloping aCompetencies Model- Framework:,Interview company seniormanagementandbusinessline managementaswellascompetitor management,Define companysbusiness systemandactivitiesperformed withineach function -Based o,n th,e totalrange of,capabilitiesidentified,ask thequestions:,Whichones do we havetobe,“,“goodat,”,”?,Whi,ch,ones do we havetobe,“,“market/worldleading at”?,Determinewhethereach activity is aprimarycapability,a critical enabling capability, acriticalstrategic capability, or a,core competence, based on thedegreetowhichthe activity provides competitive advantageandcan be leveraged,Note thatwhileall theidentified capabilitieswill be critical to achievethe visionandstrategy, thequestionswillhelp,distinguish core from non-coreby invoking management attention and reflection in a systematicand structuredmanner,Citations- Client and Industry Experience,CoreCompetencyAnalysis,Galileo/Travel/Spencer Lin &VasuKrishnamurthy,Giddings &Lewis/MachineTool/VasuKrishnamurthy,MetLife/Insurance/KIT database,PwC MCS/Consulting/Vasu Krishnamurthy,Save& Prosper/Banking/KIT database,DavidA. Aaker,“,“Developing Business Strategies”,5th Edition,Robert M.Grant, “ContemporaryStrategyAnalysis”,3rd,Edition,Michael Gould,Andrew Campbell, Marcus Alexander,“Corporate-Level Strategy: CreatingValue inthe,Multibusiness Company”,HenryMintzberg, Bruce Ahlstrand, JosephLampel, “Strategy,Safari: AGuided Tour Throughthe Wildsof Strategic,Management”,Henry Mintzberg,James BrianQuinn,SumantraGhoshal,“TheStrategy Process”,Henry Mintzberg,James BrianQuinn,Concepts, Contexts, Cases,Source List,Establish,Segmentation,Objectives,Data,Assessment,Model,Construction,Build Closed Loop,Performance,Tool,Whataretheobjectivesof the segmentation?BetterROI, redistribute spending,changesales efforts?,Whatdata isneededto meettheobjectives?,Howmuchofthatdata can beobtained internally? externally?,Whatdata isessential to the segmentation?,Whatdata can bea focusforfurtherimprovementinthefuture?,Define the variablesofthemodel with accessible data?,Developan analytical tool thatutilizesthevariables to determinea customer ranking or grouping (ie mostideal partner tomost inefficient partner).,Refocusinternaleffortsbased on segmentation outcome.,Establish awayto capture the key dataneeded to segment customer base.,Utilizethedataonan ongoing basistoimproveperformanceandcontinuallyreward the better performingcustomers.,CustomerSegmentation Methodology,Highlevel workflowfora customersegmentation,CustomerSegmentation Methodology Summary,CustomerSegmentation Summary,Customersegmentation isa divisionof amarketintodistinct groupsofbuyers who mightrequireseparate products and/or marketingmixes.,THECONVERTER MARKETCANBESEGMENTED USINGTWOVARIABLES: ECONOMICRISKANDFABRICINNOVATION,Hold inventory,Credit problem,Basic fabrics,“,Opportunistic” Strategy,Specialty products,Narrow customer base,Niche Strategy (specialized product to narrow customer base),Sell to manufacturers before fabric purchase,Established credit,Broad customer base,Basic fabrics,Low-Cost Strategy,Sell to manufacturers before fabric purchase,Established credit,Focused customer base,Novel fabrics (“fashion forward”),Differentiation Strategy (specialized product to broad customer base),EconomicRisk,Inventory position,Credit status,Productmix,Customerbase,FabricInnovation,Percentnovelties,Ordersize,Numberofcollections,High,Low,High,Low,CustomerSegmentation,Approach,STEP,DATA REQUIRED,SOURCE(S),1.Identify segmentation variables and segment the market,a) Survey Stage: Conduct interviews/focus groups with consumers to gain insight into motivations, attitudes, and behavior,b)Analysis Stage: Apply factor analysis to data to remove highly correlated variables; apply cluster analysis to create a number of maximally different segments,2.Form segments by looking at consumer characteristics as well as consumer responses,a)Geographic Segmentation,b)Demographic Segmentation,c)Psychographic Segmentation,d)Behavioral Segmentation,Results from focus groups, interviews, and surveys,Customer characteristics: demographics, statistics, etc.,Focus groups, interviews, surveys,Company data,WhenToApply,Applicablewhenitisusefultobetteridentifymarketingopportunities,todeveloptherightofferingforeachtargetmarket,ortobeabletoreachthetargetmarketinthemostefficientmannerpossible.,CustomerSegmentation,Citations-ClientandIndustryExperience,CustomerSegmentation,Galileo/Travel/SpencerLin&VasuKrishnamurthy,GeneralMills/CIP/JohanSauer,Giddings&Lewis/MachineTool/VasuKrishnamurthy,TheLittlewoodsOrganization/Retail/KITdatabase,PwCMCS/Consulting/VasuKrishnamurthy,Paul Elkin,“,“Mastering Business Planning andStrategy:The Power andApplicationofStrategicThinking,”,”,RobertM.Grant, “ContemporaryStrategyAnalysis,”,”,He,nryMintzberg,JamesBrianQuinn,SumantraGhoshal,“,“TheStrategyProcess”,So,ur,ceList,TheExperience,ExperienceC,TheExperienceCurve,EXPERIENCECURVEFORWIDGETS-PROJECTIONS,50,40,30,20,10,200,400,600,800,1000,2000,4000,Unit Volume,(Thousands),Unit Cost,($),1974,1975,1976,1977,1978,1979,1980,1981,1982,1983,1984,Slope 20%,Approach,ExperienceCurve,CreatingtheExperienceCurverequiresyearlyaccumulatedproductionvolumefortheentireindicativeandindividualcompetitors,andtheunitcostfortheentireindustryandcompetitors(usepricedataifcostdataisnotavailable.)Datacanbesecuredfromgovernmentagencies,tradeassociations,andfrominternalcompanydata.,Step1,Plotaccumulatedvolumefordifferentyearsagainstunitcostonalog/logscale(unitcostshouldbedeflatedbyu,si,ngageneralindexsuchastheGNPdeflator,orspecificindicesforthevariousp,Step 2,Add a standard regression line to the graph.,CAVEATS:,Costfiguresmust bedefinedinthesamemannerby all sources of data.If company cost-accounting datais used,itmayneedtobe adjustedforoverheadallocationsandother costsnotconsideredto be part of the activity,process,orproductunder study.Ifprice data is used pricing behaviorof participantsneeds tobeconsidered,Innovationwithin any functional area (e.g.,product, process, distribution) canrender the currentexperiencecurve uselessas astrategy tool.Therefore,it is important tounderstandtheenvironmental and customer trends in order not torelytoo heavily onthisanalysis,The experiencecurveis only an analytical concept, andthere isno guarantee that costs will actually decrease according toit. The companymustactivelymanage costs down,Whento Apply,The GrowthShare Matrix may beoverly simplistic,market share does not always correlate with profitability and notallbusinesseshavethesameassetintensity. Conclusionsare sensitive to businessandmarket definitions;wherelines aredrawn. Practitioners must becreative,careful and consistent with marketdata.,Citations- Client and Industry Experience,ExperienceCurve,Source List,DavidA. Aaker,“,“Developing Business Strategies”,5th Edition,The BostonConsulting Group, “Perspectives onStrategy”,Robert M.Grant, “ContemporaryStrategyAnalysis”,3rd,Edition,HenryMintzberg, Bruce Ahlstrand, JosephLampel, “Strategy,Safari: AGuided Tour Throughthe Wildsof Strategic,Management,FinancialModeling Summary,FinancialModeling,The financial modelwillallowus to test management assumptionsand understandhow different actions mayaffect performanceon some key competitive dimensions.,Approach,WhenTo Apply,FinancialModeling is effective inanalyzinghow acompanysperformance, in core areas ofbusiness,willbe affected bypursuingdifferentcourses ofaction.Thistoolfacilitates anunderstanding of variouscause-effect and providesa model by which totestvarious whatif statements.,FinancialModeling,Follow the,se st,eps to successfullycreate a Financial Model,St,e,p1,G,atherinfor,From the cash flow analysis performed as part of the SVA,Data and insight from Voice of the Customer is another source of insight,Step 2,Map the relationships and identify factors which reinforce one another vs. those that have a negative relationship,(e.g. increase in price may have a negative effect on demand),Step 3,Build the financial model based on the cause-effect relationships identified,Step 4,Gather data from industry analysis or internal corporate data,Step 5,Test the quality of the model by doing manual calculations on some what if”,Step 6,Perform what if to assess the completeness of the model,Citations-Client,Financia,FlemingsFundManagementLtd(FFML)/Banking/KIT,database,Galileo/Travel/SpencerLin&Va,s,uKrishnamurthy,OshKo,PwC MCS/Consulting/Vasu Krishnamurthy,United Airlines/Travel/Vasu Krishnamurthy,RobertM.Grant,“,“ContemporaryStrategyAnalysis,”,”,3r
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