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1、企业战略管理的理论和方法企业战略管理的理论和方法 Theories and Methodologies in Strategic Management Chapter 1 Introduction of Strategic Management Outline of this chapter 1. Definition of strategic management (SM). 2. Some key trems uesed in SM 3. Model of SM. 4. Aims of SM. 5. Functions and benefits of SM 6. Reasons for n
2、ot doing SM. 7. Guildlines or principles for an effective SM. 8. Methodologies of SM 9. Abilities learned and practiced in SM. 1.1 definition of SM( or SMP). Strategic management process is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness a
3、nd earn above average returns. And more specifically, SM can be defined as an art and science of formulating, implementing and evaluating overall decisions that enable an business organization (BO) to achieve its long term objectives. 1.2 some key terms often used in SM A. strategists: CEO, presiden
4、t, chair of the board, executive director, or entrepreneur, who are responsible for making strategic decision and who will also take most responsibility for failure and success of a BO. B. missionand vision. a. Mission : which identify the business scope for a BO. b. Vision : which set the ultimate
5、objectives and prospects for a BO. C. long term objective: refers to specific results, which a BO *strives to achieve within a period longer than one year. D. annual objective (*manage) E. Strategy: refers to the means which is used by a BO to achieve its long term objectives. e.g focus, acquisition
6、, diversification, retrenchment. F. policy: refers to the means which is used by a BO to guide its day to day operation, e.g compensation policy, motivation policy, business rules, cost control regulation, customer service policy, ect. The policy often reflect the business ethics and values of a BO
7、and its top management. 1.3 model of SM Steps 1: strategic analysis, which can be further divided into following steps: external analysis, internal analysis. Step 2: strategy formulation, which can be further divided into following steps: strategic position i.e developing vision and mission for a bu
8、siness organization, and strategy selection, which mainly focus on selecting proper strategies to achieve the long term objective of a BO. Steps 3:strategy implementation, which can be further divided into following steps : establishing objectives, managing to achieve objectives. Steps 4: strategy e
9、valuation, which can be further divided intio following steps: evaluating strategy, adjusting strategy. 1.4 aim of SM When we conduct SM, all of SM activities should be aimed at long term benefits rather than short term interests, and theories and methods used in SM are also developed and practiced
10、on the basis of long term objectives . Therefore, in the long run, the aim of SM as well as the whole BO is to provide customer satisfaction and constantly compete to be the best among many other competitors. So the fundamental business ethics is the altruim. 1.5 functions and benefits of SM The maj
11、or function or benefit of SM is to provide a clear direction and paths for the future development of a BO. 1.6 why some BOs do not conduct SM. a. firefighting management b. waste of time c. too expensive d. fear of failure e. overconfident 1.7 GUIDELINE OF SM A. Forward thinking. B. Fullsight thinki
12、ng. C. Trend thinking. D. Rational thinking. E. Path thinking. 1.8 methodology used in SM A. the first methodology is binary analysis or dialectics, which analyse two sides of the issue and try to make comprehensive conclusion of the targeted issue. Some typical binary analysis include external and
13、internal analysis, SW, OT, gain or loss, ect. B. The second one is gain or loss, or benefit or harm analysis, which list and evaluate the major benefits and losses of certain actions and thereby make a final decision. C. The third one is objective orientation.Which means in SM, we always put objecti
14、ve as the top priority, and make strategic decisions in accordance with the objective. So before we take any action, it is important to make clear what is your purpose and what is your final goal of taking this action. D. The fourth one is the result or effect orientation, which means we evaluate th
15、e effectiveness of a certain strategy according to its final results or its actual effects it has produced. E. The fifth one is systematic plan or comprehensive management, which means in SM, we should see a BO as a whole system, each department or division has its independent functions and duties,
16、and each department is also an indispensible part of the whole organization, and they are all committed to the same mission of the whole organization, and this kind of relationship between different department is called strategic partner. The other meanning of systematic plan is that each separate s
17、teps of business management are related to each other, and we should make the first step conducive and productive to the second step. 1.9 ABILITIES NEEDED TO CONDUCTING EFFECTIVE SM Conducting effective SM, a strategist will need to have several essential abilities, which include: A. Ability of fore
18、sightful and insightful analysis, which is needed to conduct an effctive strategic analysis. B. Ability of making a decisive judgement, which is needed when making strategic selection. C. Ability of comprehesive planning, which is needed when formulating a strategic plan. D. Ability of thougthful pr
19、acticing, which is needed when implementing the strategy. E. Ability of flexibility and adaptiveness, which is needed when facing a constantly changing enviornment in which a business organization may frequently encounter. Chapter 2 external analysis in strategic analysis Objectives: A.describe a fr
20、amework of external analysis. B. identify key factors in EA C. outline a general process of analysing each of the key factor . D. make a preliminary conclusion of EA 2.1 Introduction of EA 2.1.1 a general definition of strategic analysis In SM, SA refers to a systematic and comprehensive analysis on
21、 the external and internal factors, which will affect business operation of a BO. So SA include two parts of analysis, one is EA, and the other is IA. 2.1.2 the aim or function of SA Before making strategic decisions for a BO, srategist should carefully analyzing some essential factors that will aff
22、ect the effectiveness of these decisions. As an old Chinese saying said: without knowing your enemy and yourself, you can never win a war. The first strategic decision needed to be made for a BO is the mission and vision, which identify the main business scope and long term goals for a BO. Before ma
23、king this decisions, strategists should know the long term profitibility of the selected business. Basically, the long term profitibility of an business are mainly determined by two factors. One is the average profitibility of the whole industry, and the other one is the earning capacity of the indi
24、vidual BO. Therefore SA mainly focus on analyzing these two factors, among them, EA focus on industry analysis, and IA focus on enterprise analysis. 2.1.3 methods used in EA Besides some basic principles in SM, we will also study some methodologies used in SM. In EA, there are some basic methods, wh
25、ich we will illustrate in detail in our later discussion. Here we will make a brief introduction about some of these methods. The first method is the method of key factors. This method is used in selecting factors, which will affect the long term profitibility of a certain industry. Since there are
26、so many factors which can affect the profitibility of an industry, that we can put all of these factors into our consideration. What we can do is to select some key factors that have significant affact on the profitibility of an industry. In Chinese philosophy, this method is called catching the maj
27、or contradictions and major aspects of the major contradiction. The other method is trend analysis. As we said before in chapter 1, prediction about future events can not be made so precisely as some economic reports. But we still can make a basic prediction that could tell us the general trend of f
28、uture events. 2.1.4 the model of EA The model here refer to the framework used in the EA, which are different in different SM theory. 2.1.5 Five force model A. force from competitors B. force from new entrants C. force from substitute products D. froce from buyers E. force from supplyers 2.1.6 outli
29、ne of industry analysis A. total demand B. total supply C. competition situation D. supply chain situation E. other related factors 2.2 analysis on general demand 2.2.1 the theory of market mechanism: total supply and total demand decide market price, and market price affect total supply and total d
30、emand, and thus affect allocation of resources in the market. 2.2.2 the aim of analysis on general demand From the basic theory of market mechanism, we can know that total demand is one of the two factors, which decide market price. In a market economy, all business activities are aimed to satisfy a
31、 certain kind of demand, and to some extent, the profitibility of a industry are largely determind by the total demand in this industry. By analysing the current total demand and the general trend in a relatively longer period, we can get a basic conclusion on the profitibility of an industry. 2.2.3
32、 some major indicators used to analysize general demand A. current total demand for a product = per captia consumption of a product * quantity of total population B. Future demand for a product = per captia demand for a product in future * total population in future C. the annual growth rate of tota
33、l demand = (future demand current) / growing years 2.2.4 basic conclusion on total demand: four stages in products life cycle A. introduction stage B. growth stage C. maturity stage D. decline stage A. Main characteristics of introduction stage: -high growth rate -high profit margin *stars B. Main c
34、haracteristics of growing stage -high growth rate -medium or low profit margin *cash cows C. Main characteristics of stable stage: -medium or low growth rate -medium or low profit margin *dogs D. Main characteristics of decling stage: -negative growth rate -low profit margin *questions 2.3 Analysis
35、on general supply 2.3.1 aims of general supply ananlysis from theory of market mechanism we have known that, in addition to general demand, general supply is another determinant factor which will affect market price. Actually, it is the relationship between total demand and total supply that finally
36、 determine the market price. Just because in most cases, general demand usually is the initial factor that will change the equillibrium price, we put it in the first place in our discussion. In this section, will turn our focus on total supply analysis, and discuss how it will affact market price an
37、d thus profitibility in a certain industry. 2.3.2 indicators used in general supply analysis A. overall capacity of general supply relative to general demand: reflect current capacity (1) undercapacity (2) duecapacity (3) overcapacity B. Barrier of entering an industry: reflect possible capacity inc
38、rease in the future (1) Investment barrier (2) techonology barrier (3) policy barrier C. Barrier of leaving an industry: reflect possible capacity decrease in the future (1) special equipment (2) large volume of investmemt 2.3.3 basic conclusion on total supply A. undersupply: relatively high prifit
39、 margin B. saturate: medium profit margin C. oversupply: low profit margin 2.4 analysis on competing situation 2.4.1 the aim of competing situation analysis In a market economy, theoratically, there are four different kinds of competition situation, which include pure competion, monopolistic competi
40、on, oligopoly, and monopoly. Generally, in each of these different competition situation, the profit margin of a BO is different, so the competition situation is an important external factor which has significant influence on the profitibility of a industry as a whole. The aim of competition analysi
41、s is to analyze the current competition situation in a certain industry, and thus make a preliminary assessment on the profitibility of a industry. 2.4.2 the major indicators used in competitive situation analysis A. the number of competitors in an industry. B. the market share of the leading compet
42、itors in this industry. 2.4.3 basic conclusion on competiting analysis A. pure competition: many competitors compete in a homogeneous product market, and no single competitor gain a notable market share. Conclusion: low profit margin B. monopolistic competition: many competitors compete in a heterog
43、eneous product market with differentiated product features, and no single competitor gain a dominant market share. Conclusion: relatively high profit margin. C. oligopoly: relatively fewer competitors compete in an identical product market or a differentiated product market, and each competitor has
44、a remarkable market share. Conclusion: high profit margin D. monopoly: only a single player in the market, or a single competitor has a dominant market share, say 80% or 90% of the total market share. Conclusion: controllable high profit margin. 2.5 analysis on supply chain 2.5.1 the aim of supply c
45、hain analysis Besides the controllability in an industry that can greatly affect the profit margin of a BO, the supply chain before and after this BO will also play a role in the profit margin of this BO. These supply chain include suppliers which provide raw materials to the BO, and distributors wh
46、ich provide distribution channels to the BO. If the suppliers and the distributors can provide their products or services at cheaper price to the BO, it can get a higher profit margin, otherwise it will have a lower profit margin. 2.5.2 indicators used in supply chain analysis A. monopolistic degree
47、 of supplier or distributor 2.5.3 basic conclusion of supply chain analysis A. high monopolistic degree: low profit margin B. low monopolistic degree: medium or high profit margin 2.6 analysis on macroeconomy 2.6.1 aims of macroeconomy analysis Besides those factors with the industry that will great
48、ly affect the profitability of an industry, the factors outside the industry will also affect the profitability of the industry . Except those countercycle industry, in an expansion period, an industry generally get a high profit margin, and in a shrinking period, an industry generally has a low profit margin. 2.6.2 indicators used in macroeconomy analysis A. economic growth rat
