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1. Chapter 4 Business Strategy, Shaanxi Provincial Party School Economic Management Teaching and Research Department Fang Xin, the concept and characteristics of business strategy, 1 business strategy concept business strategy is an enterprise focusing on the future, according to the changes in the external environment and the characteristics of internal resources, in order to seek and maintain competitive advantages and make a major plan about the overall situation and the long term. ,2 Characteristics of business strategy A business strategy has a global B business strategy has a long-term C business strategy is competitive d business strategy has individuality, why does the company exist?Provide a premise for all decisions within the organization Describe a lasting fact Can be an indefinite time of time (without a time limit) Provide guidance to internal and external personnel, what does the leader want the company to be?Guide the development of the strategy and organization Describe an inspiring fact that can be achieved in a specific period of time Mainly to provide guidance to internal personnel (some slogans can also be provided to external personnel),
2. Plans to defeat existing and potential competitors List a series of initiatives to provide a product or service that creates value above its cost A "value proposition" that describes a company's strategic choices is continuously improved with market analysis, consumer experience, experimentation It is best to strictly limit internal use, mission, vision, strategy, the difference between mission, vision (vision) and strategy, the process of strategic management, clarification of the company's mission and objectives, strategic environment analysis, strategy formulation and selection, strategy implementation and control, It is a dynamic management process in which the enterprise determines its mission, sets the strategic goals of the enterprise according to the internal and external environment, plans to ensure the realization of the goals, and relies on internal capabilities to put such planning and decision-making into practice, as well as control in the implementation process. Second, clarify the mission and goal of the enterprise, and clarify the mission of the enterprise, "providing information and communication tools and services instead of producing telephones" The American Telegraph and Telephone Company "provides energy instead of selling oil and gas".
3. Columbia Pictures "sells hope instead of producing cosmetics" and "provides entertainment instead of running the film industry" Columbia Pictures establishes the company's target system, financial goals 1, revenue growth 2, earnings growth 3, increasing shareholder dividends 4, expanding profit margins 5, improving the return rate of existing investment capital 7, strong securities and credit evaluation 8, improving cash flow 9, stock price rise 12, increasing the company's revenue diversification, strategic goal 1, increasing the company's market share 2, Shorter design-to-market cycle3, the quality of the company's products is higher than that of competitors4, it has a low-cost advantage in the industry5, its product line is wider than that of its competitors6, it has a stronger image than its competitors7, it has excellent customer service, it has a wider geographical coverage than its competitors9, it becomes a leader in technology and product innovation, and it is a leader in technology and product innovation
4. The company's resources, capabilities and core competitiveness, industry and competitive environment, opportunities and threats faced by the company, personal aspirations, business philosophy and ethical standards of key managers, shared values and culture, the combination of factors that determine a company's strategy, the conclusion of the combination of internal and external factors, the strategic significance of the company's internal and external factors, the confirmation and evaluation of alternative strategies, the development of strategies to adapt to the overall situation, the ideas of strategic analysis, strategic analysis tools, Tool 1: Macro Analysis: PEST Method Tool 2: Macro Analysis: Four States Method Tool 3: Industry Analysis: Porter Model Tool 4: Industry Analysis: Value Chain Tool 5: Micro Analysis: SWOT Tool 6: Micro Analysis: Boston Matrix Tool 7: Micro Analysis: General Matrix Tool 8: Effect Analysis: Balanced Scorecard, Macro Strategy Analysis Tool: PEST Analysis, Future Market and Industry Trends, Political FactorsInternational Politics, Monopoly and Competition Law, Environmental Protection,
5. Consumer Protection LawTax PolicyEmployment Policy and RegulationsTrade RulesRelationship between Companies and Governments, Economic FactorsBusiness CyclesGNP TrendsMoney Supply, Interest Rates, Inflation, Unemployment and EmploymentDisposable Income, Raw Materials, Energy Sources and Their Costs, Trade Cycles, Company Investment, Social and Cultural Factors, Demographic StatisticsIncome Distribution, Population Mobility, Lifestyle and ValuesChanges, Attitudes towards Work and Leisure, Consumption Structure and Level, Education Level, Technological FactorsGovernment Spending on ResearchGovernment and IndustryTechnology ConcernsNew Product DevelopmentTechnology Transfer SpeedLabor Productivity ChangeQuality Product RateScrap RateTechnology and Process Development Level Assessment,,,,, Politics, Legal Environment, Dual Roles: Restriction and Protection Establishment of relevant laws, laws governing operations, industrial policy, diplomatic situation, degree of barriers, fiscal and monetary situation, etc
6. Teach legal experts. ,Economic Environment,Economic Development Stage:Depression, Stagnation, Recovery, Growth?GDP Level?Idle Funds?Personal Disposable Income?Inflation Level of Prices?Price Signals?Infrastructure Status?(Directly Related Operating Costs)Fiscal and Monetary Policy?Interest Rates, Deficits, Employment, Income, Consumption Propensity, Inflation, Productivity, Education Levels, Exchange Rates, Stock Markets, Tax Rates, Fiscal Policy, Labor Prices,What is Macroeconomic Prosperity and Overheating?,GDP and Price Growth,Socio-Cultural Environment,National Characteristics, Cultural and traditional values, religious beliefs, education level, social structure, customs and habits, geographical advantages, natural morality, lifestyle, environmental pollution, social responsibility, leisure concept, purchase characteristics, technical environment, technical level, technology policy development ability, development dynamic development investment, development cycle update effect, technology
7. Price danger: the commercialization of new technologies is getting longer and longer, the cost of new technology development is getting bigger and bigger, the life of new technologies is getting shorter and shorter, the confidentiality of new technologies is getting worse and worse, the destruction of new technologies to their related industries is getting bigger and bigger, the priority matrix, the possibility of occurrence, the possible impact on the company, low, medium, high, high, medium, low, the development trend of the industry, five competitive energy models, the nature of the market in the same industry: exclusive monopoly, oligopoly, monopolistic competition, free competition competition (dances with wolves): price, quality, service speed, standard, cost Development, Courage, Innovation Collaboration: Market segmentation, strategic alliances, potential entrants Barriers to entry: economies of scale Product Differentiation Significant capital Switching costs Sales Channels Other Advantages (Learning Curve), Threat Vigilance of Alternatives: Alternatives Are Getting Faster and Faster, High-Margin Alternatives, High-Quality Alternatives, Increasing Competition in the Alternatives Industry, and Supplier Focus
8. Point: quality, price, service, reliability focus indicators: who is the leader, monopoly degree of standardization, share and conversion cost importance of upstream integration intention, buyer focus: price, quality, quantity, speed service focus indicators: who is the leader, collective purchase, standardization, substitution degree, proportion, backward integration intention, comprehensive analysis of the company's internal and external environmentSWOT analysis, SWOT analysis is the advantage (), disadvantage (), opportunity (), Threat() is an acronym for a company that identifies the strengths and weaknesses of the company as well as the existing opportunities and threats based on a resource analysis. Advantage refers to an organization's ability to meet the needs of consumers better than its competitors. Disadvantage on the contrary. , types of competitive advantages, structural advantages, good reputation, business system advantages, intrinsic skills, behavioral constraints on competitors
9. Competitive structure (e.g., market focus, economies of scale) customer structure (e.g., geographical, conversion barriers) resources, government influence (e.g., management, anti-monopoly), reputation (e.g., brand), customer habits, excellent design ability, excellent performance of a functional department (e.g., low-cost production), cross-functional cooperation, cross-functional ability (e.g., service, meeting customer needs), organizational skills (e.g., efficient competition), innovation adaptability, "corresponding defects" (e.g., allocation ability), fear of retaliation, voluntary restraint, lack of willpower, To quantify the strengths and weaknesses, firstly, identify the key success factors of the market, secondly, give weights according to their importance to consumers, then score the performance of the main competitors in each key success factor, and finally, multiply the scores by the weights and add the business strategy PPT to evaluate the relative disadvantages of each competitor. , Strengths and Weaknesses, Opportunities and Threats, Opportunities and Threats are issues that belong to the external environment and can be determined by the external environment
10. Audit to confirm. Therefore, improving quality or building a brand is not an opportunity, and inventory turnover and poor industrial relations are not a threat to the company's business strategy, because these are internal problems within the organization. It can be difficult to identify the opportunities and threats involved. Opportunities and threats are related to the organization depending on the probability of their occurrence and the size of the impact, opportunities and threats, opportunities come from changes in the external environment or there is an unmet need, the way to identify the opportunity can be to pay attention to (1) the changes that have occurred in the market, especially the impact on the organization's marketing assets, and (2) there are some needs that cannot be met by the current market suppliers. , Opportunity, Threat, Strength, Weak, Best, Opportunity, Decisive Battle, Recuperation, Comprehensive Analysis, Micro Analysis Tools: Static Boston Matrix, Market Share
11, High, Low, Market Growth Rate, High, Low, Star Business, Cash Business, Problem Business, Skinny Dog Business, High Relative Market Share Low, High Market Growth Rate Low, Star, Taurus, Problem, Skinny Dog, Use Boston Matrix "Fortune Telling", Crescent Cloth Formation, Market Share, Dynamics: Boston Matrix: Ideal Ring, Market Share, High, Low, Market Growth Rate, High, Low, Star Business, Cash Flow Business, Problem Business, Skinny Dog Business, Capital, Status, Dynamic Boston Matrix: Failure Ring, Market Share, High, Low, Market Growth Rate, High, Low, Star Business, Cash Business, Problem Business, Skinny Dog Business, Capital, Status, McKinsey Matrix, Competitive Position, High, Low, Strategic Business Area Attractiveness, High, Low, Star Business, Cash Business, Problem Business, Skinny Dog Business, Focus Investment, Increase or Sustain Investment, Squeeze Out, Give Up, High, Medium, Low, High, Medium, Low, Market Attraction, Competition
12. Competing for Position, GE Matrix, Investment, Richot() Rating and Assignment, Rating Value of Industry Attractiveness, Rating Value of Competitiveness, Industry Sketch, Historical Status1.What are the market characteristics of the industry: monopoly, monopolistic competition, or other?2.Is the industry shrinking, growing, or stable?3.What are the unique characteristics that make the companies in the industry successful?4.Is the business of the companies in the industry regional, national, or multinational? Marketing Practices and Market Structure1.How sensitive is the industry or service to fluctuations in the business cycle?2.How sensitive is the industry product or service to sudden changes in customers' purchase intentions?3.What are the marketing channels used in the industry?4.Has the industry formed a certain trademark?What are they?5.What is the price policy implemented by the industry?6.There are no special packaging requirements for the products of the industry?7.The industry spends on advertising and promotion
13. What is the cost of sales?8.What are the important new products developed in the industry in the past 5 years?9.Does the industry's products or services have a large number of customers or only a limited number of customers?10.Is new product development critical in the industry?11.Is it easy to enter or exit the industry?12.Is there a substitute for the industry's products or services?,Industry sketches,Financial status1.What are the capital requirements of the industry?2.What is the investment profit rate that enterprises in the industry can obtain? 3.What is the financial health of the companies in the industry?4.What is the average of the following financial ratios in the industry: current ratio, quick ratio, inventory turnover, net profit margin on sales, earnings per share, and others?Competitive situation1.What are the price policies, advertising policies, and promotional policies used by the main competitors in the industry?2.What strategies have the successful and unsuccessful companies in the industry implemented?3.Who are the leaders in the industry?
14. 4. What is the market share of each enterprise in the industry?5. Is the competition in the industry based on price, service, product availability or product quality?6. Are there price leaders and price takers in the industry?7. Are there foreign competitors in the industry?If so, where do they come from?What is the impact on the industry?,Industry sketch, business conditions1.What skills and abilities do employees need to have to participate in the competition in the industry?2. What is the state of association between enterprises in the industry?3.What kind of raw materials are used to produce the products or services of the industry?Where are these raw materials distributed?Are they in sufficient supply or in short supply?Are there alternative materials available?4.What is the characteristics and structure of the industry that provides goods or services to the industry?Production technology1.What production methods are used in the industry?2.Are these production methods old or modern?3.Is there a minimum size limit for the production facilities?4. Has there been any important innovation in the production technology of the industry in the past five years? 5. Has the production capacity of the enterprises in the industry been fully utilized? Is there a surplus production capacity? The industry environment is also affected by some factors external to it, including political, economic, social and technological factors. ,
Briefly describe the process of enterprise market strategic planning, describe enterprise strategy, and talk about enterprise strategyFirst of all, enterprises must be clear: what problems are to be solved by formulating or adjusting strategies, according to the concept of the planning school, it can be classified into the following three categories:
(1) The business domain problem, that is, the overall strategy, is popularly summarized as: "what to do, what not to do; What are the priorities and what are the sub-priorities";
(2) Business competitiveness, that is, business strategy, mainly solves the problem of "when to do what products, what customers the products are aimed at, and what competitive advantages to compete with opponents";
(3) The problem of strategy implementation, that is, functional strategy, mainly solves the problem of "how to support strategy implementation".
For the second and third types of problems, enterprises will not face the problem of business choice (i.e., diversified entry), so the analysis of the external environment will focus on the three aspects of industry development trends, market competition structure and benchmarking research, rather than focusing too much on the attractiveness of the industry. The analysis of industry development trends is mainly to solve the problems of product development and planning. In view of the wide definition of some industries, such as software and hardware industries, in order to improve the efficiency of analysis, the industry can be subdivided into certain dimensions (such as function, model, etc.), and then look for new opportunities in each segment to ensure the consistency and sustainability of products into the market to meet customer needs, and ultimately achieve business growth. The market competition structure and benchmarking research is mainly to solve the problem of what kind of competitive advantage enterprises choose and create a competitive advantage to obtain sustainable competitiveness, which can be divided into two categories: total cost leadership and differentiated advantage according to the perspective of positioning school. Analysis of the competitive structure of the market:
(1) Through the five forces model, focus on the analysis of existing competitors and customers;
(2) analysis of enterprises within the same strategic cluster;
Benchmarking studies are more targeted, with the selection of target companies that they want to be in the future and the selection of key competitors from certain concentrated markets, as follows:
(1) Major strategic transformation in the development process of benchmarking enterprises;
(2) Based on the judgment and prediction of the market, the changes in the businessThe description of the enterprise strategy briefly describes the process of the company's market strategic plan, including the entry of new business or the closure and transfer of the original business, the major competitive strategies adopted after the transformation, and the performance in the market;
(3) Specifically analyze the customer base, competitive advantages and specific competitive measures of its business.
If the analysis of the external environment is completed through the above structure, it should be able to lay a good foundation for the enterprise to formulate business strategy, and the person in charge of each business can basically answer the question of "what is the development direction of the business during the planning period? What is the planning of the entire echelon of the product, what is the focus of each stage, what important resources need to be invested, what core capabilities are cultivated, and what kind of competitive advantage is created". If these questions can be answered, then the business strategy of the enterprise is clear. For the third type of problem, it can also be easily solved, from the clear business strategic objectives and important measures to decompose, if the decomposition of the goal, is the core responsibility of a functional department, then by the functional department to develop targeted measures to support, such as finance, research and development, human resources, informatization, etc.; If the goal needs to be supported by cross-departmental or even company-wide work, it should be achieved through changes in systems and mechanisms, such as control, organizational structure adjustment, process system, corporate culture, etc.
For the first type of problem, enterprises first need to make strategic assumptions, and then gradually verify the assumptions through the analysis of the external environment. This approach draws on the core idea of the entrepreneurial school: the strategy of a business relies more on the intuition and judgment of the entrepreneur. In addition, this approach will consider the actual situation within the enterprise from the beginning of the analysis, and roughly define the scope within the limits of the enterprise's ability, which has the advantage of being more targeted and more efficient in the analysis. Of course, there will be situations where the analysis finds that the results of the argument overturn the original hypothesis, then you need to go back and revise the hypothesis and then move on to the analysis. Since the first type of problem needs to consider the problem of entering a new industry, the focus of the analysis of the external environment is different from that of the second and third categories. The focus is on the analysis of the attractiveness and threshold of the industry, which is mainly from the aspects of market size, growth trend, market concentration, profit margin, etc.; There are two levels of thresholds, the first is the entry threshold, such as capital, venue, scale, technology and other requirements, and the second is the competition threshold set by competitors with incumbency advantages, such as regional market monopoly, price, patents, etc. The analysis of the industry solves the problem of whether the enterprise does or does not do, but does not provide a basis for decision-making for the key and sub-key points to do. Therefore, it is also necessary to conduct a comparative analysis between industries, and then make overall strategic decisions based on the internal situation. After the overall strategy is clarified, each business strategy and the functional strategy that supports the implementation of the strategy can be formulated according to the ideas and content analyzed in the previous paragraph.
Finally, the analysis models and tools commonly used by the author in the whole analysis and formulation process are briefly introduced. External environment analysis, mainly PEST analysis, five forces model, strategic cluster, external key factor matrix (EFE matrix), etc. Internal environment analysis briefly describes the process of enterprise market strategic planning, mainly value chain model, DuPont analysis, internal key factor matrix (IFE matrix), etc. Strategy matching and selection tools: SWOT, Grand Strategy Matrix, Boston Matrix, Internal-External Matrix (I-E Matrix), Quantitative Strategy Matrix Analysis (QSPM), etc. Each strategic analysis tool has its own advantages and disadvantages, and the selection of them needs to be combined with the characteristics of the analysis industry and the enterprise, for example, the coordinates of the Boston matrix are all single indicators, and the analysis of some industries may not be comprehensive and unsuitable.
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Enterprise strategy can be divided into, what are the contents of enterprise strategic planning?
There are mainly five forces analysis, value chain, industrial life cycle, Ansoff model, Boston matrix, three basic strategies (total cost leadership, target agglomeration and differentiation), integration, diversification, etc.
Let's say it one by one. Write a preliminary point first, and if you are very interested, you can further supplement and improve.
1. Analysis of the five forces
This is a framework for industry research.
If an enterprise or entrepreneurial team wants to make money in this industry, it is worth pondering the size, strength and weakness of the five forces:
1. How about the power of the downstream (customer, customer) to cut your leeks?
If the downstream is very grouped, or the concentration is high, or the transfer cost is low, you are more likely to be depressed in the price of the product or service. The common practice is to break up the downstream and do market segmentation. For example, Huawei had a glory and a free enjoyment back then, in addition to the P series and the Mate series, which are aimed at different customer groups, and the scale of each group is relatively much smaller than the entire user group, so it has pricing power.
2. What is the power of the upstream (suppliers, patent owners) to suppress you?
If the upstream concentration is high, your transfer costs are high, and you're doing what a lot of competitors are doing. For example, the steel industry used to be largely constrained by the supply of iron ore, and when the price of mining companies increases, most of the steel companies will lose money.
3. Threat of substitution.
Video conferencing software is a powerful alternative to many business hotels and airlines affected by the pandemic, with more and more people using online meetings to communicate, reducing the need for business travel.
4. Barriers to entry.
If the threshold for entry in this industry is low, and you make a little money, someone will come to steal business from you. It's a threat, or rather, a force. Therefore, you have to find a way to raise the threshold, for example, Xiaomi developed its own user interface MIUI relatively early among local mobile phone companies, raising the threshold of the industry.
MIUI dealt a heavy blow to the "copycat phone" that was prevalent at that time, and powerful mobile phone manufacturers gradually invested in software research and development teams and budgets on the operation interface, and the local smartphone industry was able to grow vigorously.
5. Competitiveness of competitors in the industry.
If the companies in the industry are strong and resolute, you should not be too anxious, and it is better to work steadily. On the contrary, if the competitors are cute, or, although it is an old and spicy group, but it doesn't care about this piece of business, and you don't get the diamond diamond, you have a chance to slay the dragon.
Second, the value chain
Evergreen: Strategic Analysis: The strategy of value chain enterprises can be divided into how Xiaomi and Vanke make trade-offs
3. Industrial life cycle
Put a picture first, and if you have a friend who is interested, you can analyze it in detail.
Fourth, the Ansoff model
I wrote a little bit before for reference, welcome to leave a message to discuss.
Evergreen: Strategic Analysis: The Positive Role of Ansoff Matrix in Enterprise Development, Taking Huawei as an Example
5. Boston Matrix
Evergreen: Strategic Analysis: The way of thinking that companies such as Boston Matrix and Vanke distinguish product types and make decisions
6. Three basic strategies (total cost leadership, target agglomeration and differentiation)
I wrote a little bit about it before. What do you think of Michael Porter's three major competitive strategies? - Evergreen's answer - Zhihu
This focuses on differentiation, and Mr. Chen Xiaoyue's translation calls it "differentiation", which I personally feel is more suitable and accurate. The differentiation that is often said in the market is essentially a concentration of goals, which does not match the "unique" feeling in the original book.
I've talked about it in the video before, and criticism and correction are welcome:
7. Integration
The most typical example is Formosa Plastics. I've talked about it in detail in the following text
What's the point of choosing a name for your company?
8. Diversification
It is more common in China. Like Evergrande, it was more dedicated earlier, and later it also entered more industries. I have talked about this in the following text
The more famous in the world is General Electric, in the past I listed the trend of General Electric in recent years in the following text, interested friends can take a glance.
Why did Ren Zhengfei say that Huawei would have to fall sooner or later?
brief summary
This article is a casual pen, inappropriate, welcome to discuss, exchange ideas.
Corporate strategy is a difficult proposition, and corporate strategy can be divided into, although I have spent countless days and nights for this work, I have not yet been able to endure a sentence or two of overview. I am willing to discuss and make progress together with all the gentlemen in front of the screen.