企业战略管理.ppt
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1、September 20021NJU 贾良定第十一讲第十一讲 纵向一体化的战略分析纵向一体化的战略分析1.Strategic Benefits of Vertical Integration2.Strategic Costs of Vertical Integration3.Particular Strategic Issues in Forward Integration4.Particular Strategic Issues in Backward Integration5.Contracts,Tapered Integration and Quasi-Integration6.Some
2、 Illusions in Vertical Integration DecisionsSeptember 20022NJU 贾良定Vertical integration is the combination of technologically distinct production,distribution,selling,and/or other economic processes within the confines of a single firm.As such,it represents a decision by the firm to utilize internal
3、or administrative transactions rather than market transactions to accomplish its economic purposes.In theory,all the functions we now expect a corporation to perform could be performed by a consortium of independent economic entities,each contracting with a central coordinator,which itself need be l
4、ittle more than a desk and a single manager.September 20023NJU 贾良定1.Strategic Benefits of Vertical IntegrationECONOMIES OF INTEGRATIONEconomies of Combined Operations.Economies of Internal Control and CoordinationEconomies of Information.Economies of Avoiding the market.Economies of Stable Relations
5、hips.TAP INTO TECHNOLOGYASSURE SUPPLY AND/OR DEMANDSeptember 20024NJU 贾良定OFFSET BARGAINING POWER AND INPUT COST DISTORTIONSENHANCED ABILITY TO DIFFERENTIATEELEVATE ENTRY AND MOBILITY BARRIERSENTER A HIGHER RETURN BUSINESSDEFEND AGAINST FORECLOSURESeptember 20025NJU 贾良定2.Strategic Costs of Vertical I
6、ntegrationCOST OF OVERCOMING MOBILITY BARRIERSINCREASED OPERATING LEVERAGEREDUCED FLEXIBILITY TO CHANGE PARTNERSHIGHER OVERALL EXIT BARRIERSSeptember 20026NJU 贾良定CAPITAL INVESTMENT REQUIREMENTSFORECLOSURE OF ACCESS TO SUPPLIER OR CONSUMER RESEACH AND/OR KNOW-HOWMAITAINING BALANCEDULLED INCENTIVESDIF
7、FERING MANAGERIAL REQUIREMENTSSeptember 20027NJU 贾良定3.Particular Strategic Issues in Forward IntegrationIMPROVED ABILITY TO DIFFERENTIATEACCESS TO DISTRIBUTION CHANNELSBETTER ACCESS TO MARKET INFORMATIONHIGHER PRICE REALIZATIONSeptember 20028NJU 贾良定4.Particular Strategic Issues in Backward Integrati
8、onPROPRIETARY KNOWLEDGEDIFFERENTIATIONSeptember 20029NJU 贾良定5.Contracts,Tapered Integration and Quasi-IntegrationCONTRACTS AND THE ECONOMIES OF INTEGRATIONIt is essential to recognize the possibility that some economies of integration could be gained by the right type of long-term or even short-term
9、 contract between independent firms.TAPERED INTEGRATIONTapered integration is partial integration backward or forward,the firm purchasing the rest of its needs on the open market.September 200210NJU 贾良定Advantages:Tapered integration results in less elevation in fixed costs than full integration.The
10、degree of taper(the proportion of product or service purchased outside)can be adjusted to reflect the degree of risk in the market.Taper can also be used to guard against imbalance between stages.Tapered integration reduces the risk of locked-in relationships to the extent of the degree of taper.It
11、also gives the firm some access to outside R&D activities and can provide a partial solution to the problem of internal incentives.Tapered integration allows the firm to prove that a threat of full integration is credible,which provides a strong discipline on suppliers or customers and may avoid the
12、 necessity of full integration to offset bargaining power.September 200211NJU 贾良定QUASI-INTEGRATIONQuasi-integration is the establishment of a relationship between vertically related businesses that is somewhere in between long-term contracts and full ownership.minority equity investment;loans or loa
13、n guarantees;prepurchase credits;exclusive dealing agreements;specialized logistical facilities;cooperative R&D.September 200212NJU 贾良定6.Some Illusions in Vertical Integration DecisionsA strong market position in one stage can automatically be extended to the otherOnly if the integration per se prod
14、uced some tangible benefits would integration allow the extension of market power,because under these circumstances it would improve the competitiveness of the combined entity.It is always cheaper to do things internally.September 200213NJU 贾良定It often makes sense to integrate into a competitive bus
15、inessFirms in such an industry are earning low returns and are competing vigorously to improve quality and serve customers.There are many firms to choose from in buying and selling.Vertical integration can dull incentives and blunt initiative.September 200214NJU 贾良定Vertical integration can serve a s
16、trategically sick businessEach stage of a vertical chain must be strategically sound to insure the health of the enterprise as a whole.If one link is sick,the sickness is more likely to spread to the other healthy units.Experience in one part of the vertical chain automatically qualifies management
17、to direct upstream or downstream units.September 200215NJU 贾良定第十二讲第十二讲 横向战略的战略分析横向战略的战略分析1.The Growing Importance of Horizontal Strategy2.Intrrelationships Among Business Units3.The Steps of Formulating Horizontal Strategy4.Interrelationships and Diversification Strategy5.Organizational Mechanisms f
18、or Achieving Interrelationships6.How to Manage Horizontal Organization?September 200216NJU 贾良定Horizontal strategy is a coordinated set of goals and policies across distinct but interrelated business units.It is required at the group,sector,and corporate levels of a diversified firm.It does not repla
19、ce or eliminate the need for separate business and/or business unit strategies.Rather,horizontal strategy provides for explicit coordination among business units that makes corporate or group strategy more than the sum of the individual business unit strategies.September 200217NJU 贾良定1.The Growing I
20、mportance of Horizontal StrategyDiversification philosophy is changingEmphasis is shifting from growth to performanceTechnological change is proliferating interrelationships and making them more achievableMultipoint competition is increasingSeptember 200218NJU 贾良定2.Intrrelationships Among Business U
21、nitsTangible InterrelationshipsProcurement Interrelationships.Source:common purchased inputs;Possible forms of sharing:joint procurement.Technological Interrelationships.Source:common product(or process)technology,common technology in other value activities,one product incorporated into another,inte
22、rface among products;Possible forms of sharing:joint technology development,joint interface design.September 200219NJU 贾良定Infrastructure Interrelationships.Source:common firm infrastructure needs,common capital;Possible forms of sharing:shared raising of capital,shared cash utilization,shared accoun
23、ting,shared legal department,shared government relations,shared hiring and training,etc.Production Interrelationships.Source:common location of raw materials,identical or similar fabrication(or assembly)process,identical or similar testing/quality control procedures,common factory support needs;Poss
24、ible forms of sharing:shared inbound logistics,shared component fabrication,shared assembly facilities,shared testing/quality control facilities,shared factory indirect activities,shared site infrastructure.September 200220NJU 贾良定Market Interrelationships.Source:common buyer,common channel,common ge
25、ographic market;Possible forms of sharing:shared brand name,cross selling of products,bundled or packaged selling,cross subsidization of complementary products,shared marketing department,shared sales force,shared service/repair network,shared order processing system,shared physical distribution sys
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