6公司層策略(3)

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,*,Corporate-Level Strategy,Michael A.Hitt,R.Duane Ireland,Robert E.Hoskisson,Chapter 6,Strategy Implementation,Chapter 11,Organizational,Structure and,Controls,Chapter 10,Corporate,Governance,Chapter 12,Strategic,Leadership,Strategy Formulation,Strategic,Competitiveness,Above-Average,Returns,Strategic Intent,Strategic Mission,Chapter 2,The External,Environment,Chapter 3,The Internal,Environment,The Strategic Management Process,Chapter 6,Corporate-,Level Strategy,Feedback,Strategic Inputs,Strategic Actions,Strategic Outcomes,Chapter 13,Strategic,Entrepreneurship,Chapter 5,Competitive Rivalry,and Competitive,Dynamics,Chapter 4,Business-Level,Strategy,2,Two Levels of Strategy,A,diversified company,has two levels of strategy,1.,Business-Level Strategy,(Competitive Strategy),How to create competitive advantage in each business in which the company competes,-low cost-differentiation,-focused low cost-focused differentiation,-integrated low cost/,differentiation,2.,Corporate-Level Strategy,(Company-wide Strategy),How to create value for the corporation as a whole,3,Key Questions in Corporate Strategy,Business Unit,Business Unit,Business Unit,Business Unit,1.,What businesses,should the corporation be in?,2.How should the corporate office,manage the array of business units,?,Corporate Strategy,is what makes the corporate whole add up to more than the sum of its business unit parts,4,Levels and Types of Diversification,Business Unit,Low Levels of Diversification,Single Business,95%of business from a single business unit,Dominant Business,Between 70 and 95%of business from a single business unit,Business Unit,5,Related Constrained,70%of revenues from dominant business;,all businesses share product,technological and distribution linkages,Levels and Types of Diversification,Business Unit,Business Unit,Moderate to High Levels of Diversification,Business Unit,6,Related Linked(Mixed),70%of revenues from dominant business,and,only limited links exist,Levels and Types of Diversification,Business Unit,Business Unit,Moderate to High Levels of Diversification,Business Unit,7,Levels and Types of Diversification,Unrelated,70%of revenue comes from the dominant business,and there are,no common links between businesses,Business Unit,Business Unit,Very High Levels of Diversification,Business Unit,8,AT&T,的縮小規模,AT&T,曾歷經兩次分割案,1984年非自願性分割,第一次分割後持續購併成長,高估整合的優點與忽略多角化後的經營複雜性,1995年自願分割,分割前的公司旗下有,通訊事業,電腦事業,設備事業,9,電腦事業,由購併,NCR,開始,虧損連連,達80億,設備事業的顧客與通訊事業間的競爭衝突,美國政府放寬對通訊事業的管制,公司決定縮小經營範疇,專心於核心事業,AT&T,的縮小規模,10,多角化企業的演化歷程,單一事業,整合策略,多角化策略,國際化策略,國際化策略,多角化策略,早期,後期,11,Reasons for Diversification,Reasons to,Enhance,Strategic Competitiveness,Economies of,scope(,相關多角化),Market power,(,相關多角化),Financial economics,(,不相關多角化),Incentives,Resources,Managerial,Motives,12,Incentives with,Neutral Effects,on Strategic Competitiveness,Anti-trust regulation,Tax laws,Low performance,Uncertain future cash flows,Firm risk reduction,Incentives,Resources,Managerial,Motives,Reasons for Diversification,13,Resources with varying effects on value creation and strategic competitiveness,Tangible resources,financial resources,physical assets,Intangible resources,tacit knowledge,customer relations,image and reputation,Incentives,Resources,Managerial,Motives,Reasons for Diversification,14,Managerial Motives,(Value Reduction),Diversifying managerial employment risk,Increasing managerial compensation,Incentives,Resources,Managerial,Motives,Reasons for Diversification,15,Value-creating Strategies of Diversification:,Operational and Corporate Readiness,Related Constrained,Diversification,Vertical Integration,(Market Power),Unrelated,Diversification,(Financial Economies),Both Operational and,Corporate Relatedness,(Rare Capability,and can Create,Diseconomies of,Scope),Related Linked,Diversification,(Economies of,Scope),Corporate Relateness,:Transferring Skills into Businesses Through Corporate Headquarters,Low,High,Sharing,:Operational Relatedness Between Businesses,Low,High,16,Adding Value by Diversification,Diversification most effectively adds value by either of two mechanisms:,Economies of scope:,cost savings attributed to transferring the capabilities and competencies developed in one business to a new business,Market power:,when a firm is able to sell its products above the existing competitive level or reduce the costs of its primary and support activities below the competitive level,or both,17,Alternative Diversification Strategies,Related Diversification Strategies,sharing activities,transferring core competencies,Unrelated Diversification Strategies,efficient internal capital market allocation,restructuring,18,Alternative Diversification Strategies,Related Diversification Strategies,sharing activities,19,Sharing Activities:,Sharing activities often,lowers costs,or,raises differentiation,Sharing activities can lower costs if it:,achieves economies of scale,boosts