Basic Strategic Planning Model

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Basic Strategic Planning Model
1. Environ-mental Scan
2. Strategy Formulation
3. Strategy Implementation
4. Evaluation Control
Feedback
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Scanning the External Environment

Analysis of Societal Environment

Economic, Sociocultural, Technological,
Political-Legal Factors
Market

Analysis
Competitor

Community

Analysis
Analysis
Supplier

Analysis
Selection of

Strategic Factors

Governmental

Interest Group

Analysis
Analysis
Opportunities

Threats
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External Environment
What the Firm Might Do
Internal Environment
What the Firm Can Do
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Business Proposition
Profits Quantity (Revenue - Cost)
MARGIN
3 most fundamental variables in Business
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Strategy Formulation

• Mission
• Objectives
• Strategies

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Mission

• Gives reason for organizations existence
• Tells what company is providing to society
• Defines fundamental, unique purposes to
  differentiate from other firms
• Identifies scope of operations in terms of
  products and markets
• Includes philosophy, treats employees

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Example Missions

• Maytag Corporation
• To improve the quality of home life by designing,
  building, marketing, and sevicing the best
  appliances in the world.
• Newport News Shipbuilding
• We shall build good ships here -- at a profit if
  we can -- at a loss if we must -- but always good
  ships.

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Objectives

• End results of planned activities
• State what is to be accomplished by when
• Should be quantified if possible
• Some possible areas are
• -- profitability -- efficiency
• -- growth -- shareholder wealth
• -- reputation -- survival
• -- market leadership -- utilization of resources

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Strategies

• Form a comprehensive master plan
• State how the corporation will achieve mission
  and objectives
• Maximize competitive advantage
• Minimize competitive disadvantage

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• Defines the current boundaries
• Defines the business position
• -Who are we?
• - What do we do?

Mission
Present
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What Business are you in Coca Cola

• soft drinks? Competition is Pepsi,
  Finches
• beverages? Competition is tea,
  coffee, soft-drinks
• thirst -quenching?
• Competition is water all liquids!

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Broad / Narrow Business Definition
Broad Narrow Beverages Fizzy
drinks Childrens entertainment Toys for
toddlers Furniture Waterbeds Travel River
cruises in Egypt
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Vision

• Prepares company for the future
• Defines the business position
• Who are we?
• What do we do?
• Defines target market
• Establishes long-term direction
• Where are we going?
• Not simply making a profit

Future
Importance of COMMUNICATING the vision
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Corporate Strategy

• Builds portfolio of businesses
• Harnesses synergies between businesses
• Eg pepsi cola sold via restaurant chain
• Makes resourcing/ investment decisions
• Reviews/ unifies business unit strategies

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Business Strategy

• Aims to strengthen long-term competitive position
  build sustainable competitive advantage
• Build competencies and capabilities
• Respond to changing circumstances
• Unify functional strategies

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Functional Strategy

• Support the business strategy
• Eg. Bank more automated transactions
• Defined for a function of the business
• Eg. IT function ensures 99 up-time for atms by
  having superior software and backup/ recovery
  mechanisms

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Operational strategy

• Lower level units of the organisation
• Specific means and approaches for these units
• Eg. Software development group trains people in
  use of GUI/ client-server development

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Strategy formulation deciding what to do

• what you might do opportunity
• what you can do resources
• what youd like to do values/ ambitions
• what you ought to do ethics

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Tests for a good strategy

• Goodness of fit test
• matches well the companys situation
• internal
• external
• Competitive advantage test
• leads to sustainable competitive advantage
• Performance test
• leads to superior performance
• profitability
• long term business/ market position strength

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Functional
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• Vertical integration
• Diversification
• Strategic alliances
• Acquisitions
• New ventures
• Business portfolio restructuring

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Competitive Strategies

• growthincreasing market share, acquiring more
  customers or selling more products.
• improved internal efficiency
• alliancesworking with business partners to
  create synergy provide opportunities for growth

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Competitive Strategies

• innovationdeveloping new products and services
• customer relationship managementcustomer-oriented
  approaches
• timecompeting on the basis of time

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Model Generic Model Value Chain Model
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• 7. ?????????????????????? Gateway ??? GMS

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Strategic PlanningProcess

• the military (your and your opponent's strengths,
  weaknesses, possible actions, and probable
  responses)
• the "7 S's" (strategy, structure, systems,
  styles, staff, skills, shared values) McKinsey

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?????????????? (Core competencies)
???????????????????? (capability)

• ??????????????????????????????????????????????????
  ??????????????????????????????????????????????????
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Resources
What a firm Has...
What a firm has to work with
its assets, including its people and the value of
its brand name
Resources represent inputs into a firms
production process...
such as capital equipment, skills of employees,
brand names, finances and talented managers
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Resources
What a firm Has...
Tangible Resources
Intangible Resources
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Capabilities
What a firm Does...
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Discovering Core Competencies
Competitive Advantage Above-average returns
Discovering Core Competencies
Resources
Core Competencies
Capabilities
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Core Competencies
For a resource or capability to be a Core
Competency, it must be
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Core Competencies
Core Competencies must be
Valuable
Resources or capabilities that either help a firm
to exploit opportunities to create value for
customers or to neutralize threats in the
environment
Rare
Resources or capabilities that are possessed by
few, if any, current or potential competitors
Costly to Imitate
Resources or capabilities that other firms cannot
develop easily, usually due to unique historical
conditions, causal ambiguity or social complexity
Nonsubstitutable
Resources or capabilities that do not have
strategic equivalents, such as firm-specific
knowledge or trust-based relationships
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Strategic PlanningProcess

• economic decision models Michael Porter
• the "five forces"
• the value chain

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Value Chain Analysis
Internal organization value chain
Support Activities
Administration and Infrastructure
Human Resource Management
Product / Technology Management
Procurement
Value added- Cost Margin
Inbound Logistic
Sales and Marketing
Outbound Logistics
Services
Operation
Primary Activities
Differentiation value added Cost
leadership reduce cost
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Value Chain Analysis
Ceramic value chain
Support Activities
Administration and Infrastructure
??????????????????
Human Resource Management ??????? part time
Product / Technology Management IT
Value added- Cost Margin
Procurement ???????????????????? ???????
Sales and Marketing ?????????
Inbound Logistic ???????????
Outbound Logistics
Operation ?????????????? ??
Services
Primary Activities
Differentiation value added Cost
leadership reduce cost
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Value Chain Analysis
Identifying Resources and Capabilities That Can
Add Value
Firm Infrastructure
Human Resource Management
Support Activities
MARGIN
Technological Development
Procurement
Service
Marketing Sales
Inbound Logistics
Outbound Logistics
MARGIN
Operations
Primary Activities
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How to manage value chain to gain CA?
Reconfiguring the whole or parts of the value
chain to create more value or reduce cost
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Value Chains are part of a Total Value System
Firm Value Chain
Supplier Value Chain
Channel Value Chain
Buyer Value Chain
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???????????????/??????????
Demand
Development Growth Maturity Decline
Time
User / buyer Competitive Conditions Demand
Supply
Few Growing Saturate
Drop Few Entry
Fight to maintain Some Exit Fight
for share efficiency/low cost Selective
distribution D? DgtS D_gtS
DltS
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?????????????? 5????

• NEW ENTRANCE
• SUPPLIER COMPETITION CUSTOMER
• SUBSTITUTION

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???????????? the Five Competitive Forces
???????????????

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  (????????? ??????? ??????)
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• ????????????????? suppliers ??????????????????????
  ??? supplier-seller
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• ????????????????????????????? five forces
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???????????????? Suppliers

• ????????????????????????Supplier??
• ????????????????????? Supplier
• ??????????????? Supplier
• ????????????????? Supplier
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• ?????? vs. ???????????
• ?????? vs. ??????????????
• ???????????? vs. ???????? vs. internet
• e-mail vs. overnight delivery

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????????????????? Five Competitive Forces

• ????????????????????? ????????????????????????????
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????????????????? Five Competitive Forces

• ????????????????????? ??????????????
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????????????? Five Competitive Forces

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?????????? 5 ????????????????????

• Key success factors relationships between a
  controllable variable and a critical factor that
  influence a companys ability to compete in the
  market.
• The keys to unlocking the secrets of competing
  successfully in a particular market segment.

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• KSFs ??????????????????????
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• ???????????????????? KSFs
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• KSFs ?????????? 3-5 ???????????
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???????? KSFs ?????????????????????????????????
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???????? KSFs ??????????????????????????????????
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?????????? 6 ????????????????????????

• Analyzing key competitors allows an entrepreneur
  to
• avoid surprises from existing competitors new
  strategies and tactics.
• identify potential new competitors and the
  threats they pose.
• improve reaction time to competitors actions.
• anticipate rivals next strategic moves.

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?????????? 6 ????????????????????????

• Techniques that do not require unethical
  behavior
• Monitor industry and trade publications.
• Talk to customers and suppliers.
• Listen to employees, especially sales
  representatives and purchasing agents.
• Attend trade shows and conferences.
• Study competitors literature and benchmark
  their products and services.
• Get competitors credit reports.
• Check out the local library.
• Use the World Wide Web to learn more about
  competitors.
• Visit competing businesses to observe their
  operations.

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85
PRODUCT/MARKET EVOLUTION MATRIX
TM 7-9
The Business Units Competitive Position
strong
average
weak
A
Development
C
B
Growth
F
The Industrys Stage in the Evolutionary
Life-Cycle
Competitive shake-out
D
E
Maturity
G
Saturation
Decline
H
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??????????????????????????????????? ????????????

• ??????????????????????????????????????????????????
  ???????????????????????????????????? ???
  strategic group mapping
• ??????????????????????????????????????????????????
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Strategic Group Mapping

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88
?????????????? Strategic Group Map

• ?????????? 1 ???????????????????????????????????
  ?????????????????????????????????????
• ?????????? 2 ????????????? 2 map ?????????????
  ??????????????????????????????????????????
• ?????????? 3 ???????????????????????????????????
  ??????????????????????
• ?????????? 4 ????????????????????
  ??????????????????????????????????????????????????
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???????? Strategic Group Map
????????????????????????
??? (?????????????? ??????????)
Arcade operators
Publishers of games on CD-ROMs
Sony, Sega, Nintendo, several others
??? (?????????????? ??????????)
???????????????????? ????????????????????
MSN Gaming Zone, Pogo.com, America Online, HEAT,
Engage, Oceanline, TEN
??? (?????????????? ??????????)
??? (?????????????? ??????????)
???? (??????????? VDO ???? 100-300)
??? (??? PC)
???????????????????????????
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?????? Strategic Group Maps

• ??????????????????????????????????????????????????
  ???????????????????????????????????????
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  ??????
• ?????????????????????????????????? 2
  ????????????????????????????? ????????? map
  ???????????????????

91
?????????????? Strategic Group Maps

• ??????????????????????????????????????????????????
  ????????????????????? ??????????????????
• ??????????????????????????????????????????????????
  ?????????????????????????????????????????????????
  ??????????
• ????????????????????????? map ????????????????????
  ?????????????????????????????????? ???????

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?????????? 7 ????????????????? ???????????

• Goals broad, long-range attributes to be
  accomplished.
• Objectives more detailed, specific targets of
  performance that are S.M.A.R.T.
• Specific
• Measurable
• Attainable
• Realistic (yet challenging)
• Timely

96
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?????????????????????????
??????????????????
??????????????????
97
?????????? 8 ????????????

• Strategy a road map to guide the company
  through a turbulent environment as it seeks to
  fulfill its mission, goals, and objectives. It
  is the companys game plan for winning.

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Strategic Analysis and Choice

• Making subjective decisions based on objective
  information

99
Strategy Analysis Choice

• Strategic Analysis and Choice
• Generate feasible alternatives
• Evaluate alternatives
• Select specific course of action

100
Strategy Analysis Choice

• Generating Selecting Strategies
• Develop set of most attractive alternative
  strategies
• Determine for the set
• Advantages
• Disadvantages
• Trade-offs
• Costs
• Benefits

101
Strategy Analysis Choice

• Generating Selecting Strategies
• Involve a broad mix of personnel
• Representation from each department/function
• Provides opportunity to gain understanding of
  firms direction
• Provides vehicle to develop commitment to
  attainment of organizational objectives

102
Four Types of Strategies
Threats Opportunities Weaknesses Strengths (TOWS)
103
????? ???????? ??????? ??? ??????? ???
???? ??????? ???????
104
SO Strategies
Threats Opportunities Weaknesses Strengths (TOWS)
105
WO Strategies
Threats Opportunities Weaknesses Strengths (TOWS)
106
ST Strategies
Threats Opportunities Weaknesses Strengths (TOWS)
107
WT Strategies
Threats Opportunities Weaknesses Strengths (TOWS)
108
TOWS Matrix
109
Strategy Analysis Choice

• The TOWS Matrix
• List the firms key external opportunities
• List the firms key external threats
• List the firms key internal strengths
• List the firms key internal weaknesses

110
???????????????? ???????????? ???????????????
111
??????? ??????????

• ??????????????????????????????????????????????????
  ????????????
• ??????????????????????????????????????????????????
  ?????

112
??????????????

• ??????????????????????????????????????????????????
  ???

113
????????????????

• ??????????????????????????????????
  ??????????????????????????????

114
?????????????

• ????????????????????????????????

115
??????????????????????????

• ??????????????????? ??????? 2 ????????????????????
  ???????????????????????????

116
????????????????????

• ???????????????????????

117
??????????????????????

• ????????????? 2 ??????????????????????????????????
  ????????????????????????????????? ?????????????
  ???????????????????????????????????????????????

118
?????????????????

• ??????????????????????????????????????????????????
  ?????????????????

119
??????????????????????

• ???????????????????????????????? 2 ????????
  ??????????? ????????????????????????????????????
  ???

120
?????????????????????????

• ??????????????????????????????????????????????????
  ?????? ??????????????

121
????????????????

• ???????????? ???????? ?????????????????

122
??????????????????

• ???????? Best practice ?????????????
  (??????????????????????????????)
  ????????????????????????

123
Three Strategic Options
Cost leadership
Differentiation
Focus
Competitive Advantage
Uniqueness Perceived by the Customer
Low Cost Position
Differentiation
Low Cost
Industry
Target Market
Cost Focus
Differentiation Focus
Niche
124
???????????????

• ???????? ???????????????????????????????????????
  ? (???????????????)
• ??????????????????????????????????????????????????
  ??????????????????????????????????????????????????
  ????????????.
• ??????????????????????
• ?????????????????????????????????
• ??????????????????????????????????
• ???????????????????????????????????????????????

125
????????????????

• ??????????????????????????????????????????????????
  ??????????????????????????? ??????????????????????
  ???.
• ?????????????????????????????????????????????????
• ???????????????????????????????????????????
  ??????????????????????????????????????????????
  ??????????

126
???????????????

• ?????????????????????????????????????????????
  ???????????????????????????????????????
  ??????? ????????????????????????????????????
  ? ?????????????????????????????
• ??????????????????????????????????????????????
• ??????????????????????????????????????????????????
  ???????????????????????????????????

127
Basic Principlesof Generic Strategies

• Competitive advantage is the goal of any
  strategy.
• A firm must define the type of competitive
  advantage it seeks and the scope within which it
  will be attained.

128
Cost Leadership

• Goal to be the low-cost producer in the industry
  (or market segment).
• Low-cost leaders have an advantage in reaching
  buyers who buy on the basis of price, and they
  have the power to set the industrys price floor.
• Works well when
• buyers are sensitive to price changes.
• competing firms sell the same commodity products.
• a company can benefit from economies of scale.

129
Differentiation

• Company seeks to build customer loyalty by
  positioning its goods or services in a unique or
  different fashion.
• Idea is to be special at something customers
  value.
• Key Build basis for differentiation on a
  distinctive competence, something that the small
  company is uniquely good at doing in comparison
  to its competitors.

130
Focus

• Company selects one or more customer segments in
  a market, identifies customers special needs,
  wants, or interests, and then targets them with a
  product or service designed specifically for
  them.
• Strategy builds on differences among market
  segments.
• Rather than try to serve the total market, the
  company focuses on serving a niche (or several
  niches) within that market.

131
Strategy Analysis Choice

• The TOWS Matrix
• Match internal strengths with external
  opportunities and record the resultant SO
  Strategies
• Match internal weaknesses with external
  opportunities and record the resultant WO
  Strategies
• Match internal strengths with external threats
  and record the resultant ST Strategies
• Match internal weaknesses with external threats
  and record the resultant WT Strategies

132

• Boston Consulting Group Matrix
• (BCG)
• ???????????????????????????????????????????
• ??????????????????????????????????????????????????
  ????????????????
• ????????????????????????? (business portfolio)
  ??????????????????????????????????????????????????
  ????????????????????????????????????
• ??????????????????????????????????????????????????
  ??????????????????????????????????????????????????
  ??????????????????????????????????????????????????
  ???????????

133
BCG Portfolio Matrix
6
High growth Low market share Need cash Poor
profit margins
High growth Market leaders Require
cash

Low growth High market share High cash
flow
Low growth Low market share Minimal cash
flow
134

• ??????
• ??????????????????????????????????????????????????
  ??????????????????????????????????????????????????
  ?
• ????????????????
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• ???????????????

• ??????
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• ??????????????????????????????????????????????????
  ??????
• ????????????? ??????????? ??????????

• ?????
• ??????????????????????????????????????????????????
  ?????????????????????????????????????????????????
• ?????????????????????????????????????????
• ???????????????????????? ??????????????????????

• ?????
• ??????????????????????????????????????????????????
  ???????????????????????
• ??????????????????????????
• ??????????????????????????????
• ??????????????????????????????????????????
• ????????????????? ??????????????????????????????
• ?????????????? ????????????????????

135
TM 7-8
BCG GROWTH - SHARE MATRIX
Relative Competitive Position (market share)
Low
High
Remainder divested
(net users of resources)
High
QUESTION MARKS
STARS
Market Growth Rate
CASH COWS
Low
DOGS
Harvested, divested, or liquidated
(net suppliers of resources)
Irwin/McGraw-Hill
?The McGraw-Hill Companies, Inc., 1998
136
Strategy Analysis Choice

• BCG Matrix
• Question Marks
• Stars
• Cash Cows
• Dogs

137
Strategy Analysis Choice

• BCG Matrix
• Question Marks
• Low relative market share position yet compete in
  high-growth industry.
• Cash needs are high
• Cash generation is low
• Decision to strengthen (intensive strategies) or
  divest

138
Strategy Analysis Choice

• BCG Matrix
• Stars
• High relative market share and high industry
  growth rate.
• Best long-run opportunities for growth and
  profitability
• Substantial investment to maintain or strengthen
  dominant position
• Integration strategies, intensive strategies,
  joint ventures

139
Strategy Analysis Choice

• BCG Matrix
• Cash Cows
• High relative market share position, but compete
  in low-growth industry
• Generate cash in excess of their needs
• Milked for other purposes
• Maintain strong position as long as possible
• Product development, concentric diversification
• If becomes weakretrenchment or divestiture

140
Strategy Analysis Choice

• BCG Matrix
• Dogs
• Low relative market share position and compete in
  slow or no market growth
• Weak internal and external position
• Decision to liquidate, divest, retrenchment

141
Vertical and Horizontal complementary Strategic
Alliances
Horizontal Alliance
Buyer
Buyer
Potential Competitors
Supplier
Vertical Alliance
142
??????? ??????????? 6 ????????????????????? 10
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?????
143
??????? ??????????? (???) 5. ?????????????
?????????????????????????????????????
??????????????????????????????????????????????? 6.
????????????????????????????????????????????????
?????????????????? ?????????????????
144
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