Corporate Strategy & Risk Management
activities, and then looking at each to see if they give a cost advantage or quality advantage.
波特价值链分析目的在于找到为企业贡献最多竞争优势的活动。 Primary activities: 基本活动 Receiving, storing and handling raw material inputs. For example, a Inbound logistics just-in-time stock system could give a cost advantage. （进货后勤） 接收、存储和处理原材料的输入。如，及时存货制度可以带来成本优势 Transformation of the raw materials into finished goods and services. For Operations example, using skilled craftsmen could give a quality advantage. （生产经营） 将原材料转化成最终产品和服务。如，使用有熟练的技工可以带来质量优势。 Storing, distributing and delivering finished goods to customers. For example, Outbound logistics outsourcing delivering could give a cost advantage. 存储，配送最终产品给（发货后勤） 客户。如，将送货业务外包可以带来成本优势 For example, sponsorship of a sports celebrity could enhance the image of Marketing and the product. sales（市场营销） 赞助一个体育名人可以提高产品的形象 All activities that occur after the point of sale, such as installation, training and repair, e.g. Marks and Spencer’s friendly approach to returns gives it a Service（服务） perceived a quality advantage. 在销售之后的所有业务，如，安装、维修、培训等。玛莎百货对退货的友好态度让人感觉到它的质量优势。 Secondary activities辅助活动 How the firm is organized. For example, centralized buying could Firm infrastructure result in cost savings due to bulk discounts. （企业的基础设施建设） 企业的组织状况。如，集中采购由于批量折扣可以带来成本的节约。 How the firm uses technology. For example,the latest computer-controlled machinery gives greater flexibility to tailor Technology development products to individual customer specifications. （技术开发） 企业如何使用技术。如，最新的计算机控制机器具有较大的灵活性，可以按照每个客户的规格要求生产产品。 How people contribute to competitive advantage. For example, Human resources employing expert buyers could enable a supermarket to purchase development better wines than competitors. （人力资源管理） 人员对企业竞争优势的贡献。如，雇佣具有专业知识的采购者可以使一个超市买到比竞争对手更好的酒。 Purchasing, but not just limited to materials. For example, buying a building out of town could give a cost advantage over high street Procurement competitors. （采购） 购买，但不限于材料。如，在郊区买一建筑要比在市区的竞争对手具有成本优势。 All organizations in a particular industry will have a similar value chain, which will
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Corporate Strategy & Risk Management
include activities such as:
Obtaining raw materials Designing products
Building manufacturing facilities Developing co-operative agreements Providing customer service
It is vital that the linkages between the different elements of a value chain are considered. Firstly this is to ensure consistency. Secondly it may be that through linking separate activities more effectively than competitors, a firm can gain a competitive advantage.
考虑价值链上不同要素之间的联系是重要的。首先要确保连贯性，其次将不同的活动以比竞争对手更加有效的方式联系起来，企业就获得了竞争优势。
4. SWOT analysis
Internal-strengths and weaknesses: resources and capabilities
What is the organization good at? What is it poor at? Where are resources in short supply（短缺）? where are resources excellent?
External-opportunities and threats: environment, industry structure
What will the effect on the organization be of economic changes? Can the organization make use of new technologies? Are new entrants likely to enter the market place? Can a powerful customer dictate terms?
SWOT分析包括分析企业的优势（Strengths）、劣势（Weaknesses）、机会（Opportunities）和威胁（Threats）。SWOT分析实际上是将对企业内外部条件各方面内容进行综合和概括，进而分析组织的优劣势、面临的机会和威胁的一种方法。
二. Strategic Choices
Ansoff’s matrix安索夫矩阵（企业成长矩阵） Existing products现有产品 New products新产品 Product development 产品开发Basic idea is to get more money from existing customers. Market penetration市场渗透 Existing Can be particularly good if using existing Build market share扩大市场份额 markets resources, distribution channels, etc如果能使用Develop niches开发小众市场 现有市场 现存的资源和销售渠道，这一战略会更有效。Hold market share 保持市场份额 New products could arise from R&D, joint ventures or buying in other people’s products 新产品可以是研发的，合资生产的或购入的。 Market development市场开发 New This involves finding new markets for Diversification多元化 markets existing products Related diversification 相关多元化Nonrelated 新市场 .These could be new segments in current diversification非相关多元化 markets （e.g. new age group） or 7
Corporate Strategy & Risk Management overseas markets. A niche market is the subset of the market on which a specific product is focusing
1.Related diversification相关多元化（Corporate Strategy）
Vertical integration纵向一体化Horizontal diversification 横向多元化
2. Vertical integration
Taking over supplier （backwards vertical integration）(后向一体化) Taking over customer （forwards vertical integration）（前向一体化）
3. Horizontal diversification
Horizontal diversification refers to development into activities that are competitive with, or directly complementary to, a company’s present activities.
横向多元化指的是进入与企业目前业务相竞争或直接互补的业务。
4.Unrelated/conglomerate diversification非相关/企业集团多元化
Diversifying into completely unrelated business Not clear where added value comes from Often leads to loss of shareholder value Advantages Disadvantages increased flexibility No synergies（不会产生协同效应） increased profitability No additional benefit for shareholders Ability to grow quickly Lack of management focus管理层缺少工作的中心 Better access to capital markets Diversification of risk 分散风险
5.Porter’s generic strategies（基本竞争战略） Cost leadership Differentiation Focus 成本领先 差异化 集中化 To offer a product that can’t Position the business in one To cut costs of be matched by rivals and particular niche （小众市场）Aim production/purchasing/service charge a premium for this in the market and in turn cut selling prices “difference” Economies of scale Find a segment （细分市场）Branding Quality &design Use of learning effects where the cost leader or Innovation Knowledge Using cheaper labor and differentiators have little or no How management Control over materials presence and build business suppliers/ support from Moving to cheaper premiseshere suppliers Reduction in product range （经营场所，处所） High volumes Builds brand loyalty and Develops brand loyalty Creates a barrier to entry repeat purchases Little competition Benefits Win price wars Higher margins Often a first step towards the Reduced power of substitutes Reduction in power of other generic strategies 8
Corporate Strategy & Risk Management customers No fallback position （没有退Perform badly in a recession路）if leadership is lost （萧条） Large rivals may enter the Often easily copied in the market long run Threats Strong currency（强通货） Need to constantly innovate makes imports cheaper Needs much higher marketing than cost leadership Fewer barriers to entry Innovative companies with large marketing budgets suitabilitLarge organizations with y economies of scale Low volumes If successful, it attracts cost leaders and differentiators Few barriers to entry Small business with entrepreneurial flair（具有创业者的洞察力）, strong market knowledge and a risk taking attitude (often new starts)
三. Strategy Implementation
1.Organization structure Functional structure 职能结构 Divisional structure （product division， geographical division）事业部结构（产品事业部、地区事业部） SBU （strategic business unit）战略业务单元 Matrix organization 矩阵组织 Type advantages disadvantages Entrepreneurial Quick flexible decisions Too slow for large companies Goal congruence Too many decisions for one person 创业型 Lack of specialism/expertise in some 快速弹性决策 目标一致 areas 缺少专业分工 Specialization is efficient专Empire building 建造帝国 业性强 Conflict between functions各职能之Good career opportunities 间的冲突 Functional and extra responsibilities好people are too specialized 职能型 的职业机会和更多的责任 Bureaucratic/inflexible/slow to adapt(bureaucratic) Can cope with more 适应性差 products than Lack of communication between entrepreneurial structure可functions 以应对更多的产品 ? Increased staff ? Conflict between divisions e.g. Divisional motivation 增加员工的transfer prices转移价格 事业部制组织结构 ? Extra costs through repetition of 动力 9
? ? ? ? ? Matrix 矩阵制组织结构 ? Corporate Strategy & Risk Management Senior management functions e.g. marketing职能部门concentrate on overall 重复增加了成本 strategy ? Conflict over shared costs e.g. personnel Flexible灵活 Can cope better with ? Lack of goal congruence缺乏目标diversification（多元化）一致 than a functional structure Inter-functional ? Functional managers’ expertise is communication “diluted”-spread over many projects enhanced职能部门之? Staff are serving two masters, 间的沟通提高 Staff motivation can be conflict, role ambiguity, role improved through overload下属有两个上司，易产variety of work and 生冲突，角色不清，角色工作过challenges 多 Very flexible ( can easily ? Time-consuming meetings and react to changes in both higher administrative costs管理成the internal and 本高 external environments) 2.Centralization vs. decentralization 集权型对分权型 Advantages and disadvantages of centralization Advantages: 优点
Coordinated decisions and better management control, therefore less sub-optimizing （协调决策和管理控制，减少次优决策）
Conformity with overall objectives – goal congruence is more likely to be achieved（有助于整体目标的一致性）
Standardization （标准化）
Balance between functions, divisions, etc（在职能、事业部之间取得平衡） Economy of scale （规模经济）
Top managers become better decision makers （高级管理层成为更好的决策者）Speedier central decisions may be made in a crisis – delegation can be time-consuming. （遭遇危机可以制定更快的决策，代表团往往费时）
Disadvantages: 缺点
Those of lower rank experience reduce job satisfaction. （底层员工缺乏工作满意度） Senior management do not possess sufficient knowledge of all organizational activities. （高级管理层没有掌握组织内所有业务的足够知识）
Centralization places stress and responsibility onto senior management.（集权制使高层领导承担较大压力和责任）
Subordinates experience restricted opportunity for career development toward senior management positions. （下属员工向上发展的职业机会有限）
Decisions often take considerable time. （决策往往花费较多时间）
3.Mint berg’s structural configurations明茨伯格组织构型理论
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