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© 2001 Prentice HallCh. 6-1
Strategic ManagementConcepts & Cases
8th edition
Fred R. David
Chapter 6:Strategy Analysis &
ChoicePowerPoint Slides By:
DR.H. Zulkarnain, SE, MM
Rendra Wasnury, SE. MIB
UNIVERSITAS RIAU
© 2001 Prentice HallCh. 6-2
Comprehensive Strategic Management ModelComprehensive Strategic Management Model
Vision &
Mission Statements
Chapter 2
ExternalAudit
Chapter 3
InternalAudit
Chapter 4
Strategies In
Action
Chapter 5
Strategy Analysis
&Choice
Chapter 6
ImplementStrategies:
Mgmt Issues
Chapter 7
ImplementStrategies:Marketing,Fin/Acct,R&D, CISChapter 8
Measure &Evaluate
Performance
Chapter 9
© 2001 Prentice HallCh. 6-3
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Strategi, tujuan, dan misi perusahaan saat ini digabungkan dengan informasi audit internal dan eksternal, memberikan dasar untuk menghasilkan dan evaluasi alternatif strtegi yang layak
© 2001 Prentice HallCh. 6-4
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Strategic Analysis and Choice:
• Menghasilakan alternative satrategi• Mengevaluasi alternatife strtegi• Memilih strtegi alternative untuk
tindakan
© 2001 Prentice HallCh. 6-5
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Menghasilkan dan memilih Strategi Membuat beberapa set up alternative
strategi yang paling baik Untuk mengetahui set up ini dapat
dilihat:• Manfaat• Kerugian• Trade-off• Biaya• Keuntungan
© 2001 Prentice HallCh. 6-6
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Menghasilkan dan memilih Strategi
Melibatkan banyak personal • Mewakili setiap department/function
perusahaan• Menghasilkan kesempatan untuk dapat
mengerti arah perusahaan• Menghasilkan alat to membangun
komitmen dalam rangka mencapai tujuan organisasi
© 2001 Prentice HallCh. 6-7
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Generating & Selecting Strategies
Evaluasi setiap alternative strategi• Internal dan external audit informasi• Misi perusahaan • Di dokumentasikan• Rangking menurut ke unggulannya
© 2001 Prentice HallCh. 6-8
Kerangka Kerja Analitis untuk Perumusan-Strategi
Stage 1: Tahap InputStage 1: Tahap Input
Stage 2: Tahap PencocokanStage 2: Tahap Pencocokan
Stage 3: Tahap KeputusanStage 3: Tahap Keputusan
© 2001 Prentice HallCh. 6-9
Kerangka Kerja Analitis untuk Perumusan-Strategi
Stage 1: Tahap InputStage 1: Tahap Input
ExternalFactor
EvaluationMatrix (EFE)
CompetitiveProfile
Matrix (CPM)
InternalFactor
EvaluationMatrix (IFE)
© 2001 Prentice HallCh. 6-10
Kerangka Kerja Analitis untuk Perumusan-Strategi
Stage 2: Tahap PencocokanStage 2: Tahap Pencocokan
ThreatsOpportunitiesWeaknesses
Strengths(SWOT)
StrategicPosition &
Action Evaluation(SPACE)
BostonConsulting
Group Matrix(BCG)
Internal-ExternalMatrix
(IE)
GrandStrategyMatrix
© 2001 Prentice HallCh. 6-11
Strategy-Formulation Analytical Framework
Stage 3: Tahap KeputusanStage 3: Tahap Keputusan
Quantitative StrategicPlanning Matrix
(QSPM)
© 2001 Prentice HallCh. 6-12
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Stage 1: Tahap Input
Menghasilkan Dasar Info. Untuk tahap 2 dan 3
• External Factor Evaluation Matrix (EFE)• Internal Factor Evaluation Matrix (IFE)• Competitive Profile Matrix
© 2001 Prentice HallCh. 6-13
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
Stage 2: Tahap Pencocokan
Strategi dikateristikan oleh perusahaan yang cocok dengan :• Sumber-sumber Internal dan skill• Kesempatan dan resiko yang ada
pada external faktor
© 2001 Prentice HallCh. 6-14
Penyesuaian Faktor KunciPenyesuaian Faktor Kunci
Resultant StrategyKey External Factor
Key Internal Factor
Mengembangkan paket kompensasi baru bagi karyawan
=
Aktivitas serikat kerja yang kuat (threat)
+Rendahnya moral karyawan (weakness)
Mengembangkan produk baru bagi dewasa yang sudah tua
=
Menurunya jumlah penduduk dewasa muda usia (threat)
+Keahlian Litbang yang kuat (strength)
Menjalakan integrasi horizontal dengan membeli fasilitas milik pesaing
=
Keluarnya dua pesaing utama dr Industri(opportunity)
+Kapasitas yang tidak mencukupi (weakness)
Mengakuisisi Cellfone.inc
=
Pertumbuhan tahunan industri telepon seluler 20%/th (opportunity)
+Kelebihan kapasitas kerja (strength)
© 2001 Prentice HallCh. 6-15
Empat Tipe StrategiEmpat Tipe Strategi
WT Strategies
ST Strategies
WO Strategies
SO Strategies
ThreatsOpportunitiesWeaknesses
Strengths(SWOT)
© 2001 Prentice HallCh. 6-16
SOSO Strategies Strategies
SO Strategies
Menggunakan kekuatan internal
perusahaan untuk
memanfaatkan peluang eksternal
ThreatsOpportunitiesWeaknesses
Strengths(TOWS)
© 2001 Prentice HallCh. 6-17
WOWO Strategies Strategies
WO Strategies
Untuk memperbaiki kelemahan
internal perusahaan
dengan memanfaatka
n peluang eksternal
ThreatsOpportunitiesWeaknesses
Strengths(SWOT)
© 2001 Prentice HallCh. 6-18
STST Strategies Strategies
ST Strategies
Menggunakan kekuatan
perusahaan untuk
meghindari atau
mengurangi pengaruh dari
ancaman eksternal.
ThreatsOpportunitiesWeaknesses
Strengths(SWOT)
© 2001 Prentice HallCh. 6-19
WTWT Strategies Strategies
WT Strategies
Taktik defensif yang
diarahkan pada
penguranggan kelemahaan internal dan menghidari ancaman eksternal.
ThreatsOpportunitiesWeaknesses
Strengths(SWOT)
© 2001 Prentice HallCh. 6-20
Analisis dan Pilihan Analisis dan Pilihan StrategiStrategi
The SWOT Matrix
• Tulis peluang eksternal kunci perusahaan • Tulis ancaman eksternal kunci perusahaan• Tulis kekuatan internal kunci perusahaan• Tulis kelemahan internal kunci perusahaan
© 2001 Prentice HallCh. 6-21
Strategy Analysis & Strategy Analysis & ChoiceChoice
The TOWS Matrix
• Cocokan kekuatan internal dengan peluang eksternal dan catat hasil strategi SO dalam sel yang ditentukan
• Cocokan kelemahan internal dengan peluang eksternal dan catat hasil strategi WO dalam sel yang ditentukan
• Cocokan kekuatan internal dengan ancaman eksternal dan catat hasil strategi ST dalam sel yang ditentukan
• Cocokan Kelemahan internal dengan ancaman eksternal dan catat hasil strategi WT dalam sel yang ditentukan
© 2001 Prentice HallCh. 6-22
TOWS MatrixTOWS Matrix
WT Strategies
Minimize weaknesses and
avoid threats
ST Strategies
Use strengths to avoid threats
Threats-T
List Threats
WO Strategies
Overcome weaknesses by
taking advantage of opportunities
SO Strategies
Use strengths to take advantage of opportunities
Opportunities-O
List Opportunities
Weaknesses-W
List Weaknesses
Strengths-S
List Strengths
Leave Blank
© 2001 Prentice HallCh. 6-23
Strategy Analysis & Strategy Analysis & ChoiceChoice
Strategic Position & Action Evaluation Matrix (SPACE)
• Four quadrant framework • Determines appropriate strategies
Aggressive Conservative Defensive Competitive
© 2001 Prentice HallCh. 6-24
Strategy Analysis & Strategy Analysis & ChoiceChoice
Strategic Position & Action Evaluation Matrix (SPACE)
• Two Internal Dimensions Financial Strength [FS] Competitive Advantage [CA]
• Two External Dimensions Environmental Stability [ES] Industry Strength [IS]
© 2001 Prentice HallCh. 6-25
Strategy Analysis & Strategy Analysis & ChoiceChoice
Strategic Position & Action Evaluation Matrix (SPACE)
Overall Strategic position determined by:
• Financial Strength [FS]• Competitive Advantage [CA]• Environmental Stability [ES]• Industry Strength [IS]
© 2001 Prentice HallCh. 6-26
Strategy Analysis & Strategy Analysis & ChoiceChoice
Strategic Position & Action Evaluation Matrix (SPACE)
Developing the SPACE Matrix:• EFE Matrix• IFE Matrix• Financial Strength• Competitive Advantage• Environmental Stability• Industry Strength
© 2001 Prentice HallCh. 6-27
Strategy Analysis & Strategy Analysis & ChoiceChoice
The SPACE Matrix
• Select variables to define FS, CA, ES, & IS• Assign numerical ranking from +1 (worst)
to +6 (best) for FS and IS; Assign numerical ranking from –1 (best) to –6 (worst) for ES and CA.
• Compute average score for FS, CA, ES, & IS
© 2001 Prentice HallCh. 6-28
Strategy Analysis & Strategy Analysis & ChoiceChoice
The SPACE Matrix
• Plot the average scores on the Matrix• Add the two scores on the x-axis and
plot point on X. Add the scores on the y-axis and plot Y. Plot the intersection of the new xy point.
• Draw a directional vector from origin through the new intersection point.
© 2001 Prentice HallCh. 6-29
SPACE FactorsSPACE Factors
Environmental Stability (ES)
Technological changesRate of inflationDemand variabilityPrice range of competing productsBarriers to entryCompetitive pressurePrice elasticity of demand
Financial Strength (FS)Return on investmentLeverageLiquidityWorking capitalCash flowEase of exit from marketRisk involved in business
External Strategic Position
Internal Strategic Position
© 2001 Prentice HallCh. 6-30
SPACE FactorsSPACE Factors
Industry Strength (IS)Growth potentialProfit potentialFinancial stabilityTechnological know-howResource utilizationCapital intensifyEase of entry into marketProductivity, capacity utilization
Competitive Advantage CA
Market shareProduct qualityProduct life cycleCustomer loyaltyCompetition’s capacity utilizationTechnological know-howControl over suppliers & distributors
External Strategic Position
Internal Strategic Position
© 2001 Prentice HallCh. 6-31
SPACE MatrixSPACE MatrixFS
+6
+1
+5+4+3
+2
-6
-5
-4
-3
-2
-1-6 -5 -4 -3 -2 -1 +1 +2 +3 +4 +5 +6
ES
CA IS
Conservative Aggressive
Defensive Competitive
© 2001 Prentice HallCh. 6-32
Strategy Analysis & Strategy Analysis & ChoiceChoice
Boston Consulting Group Matrix(BCG)
• Enhances multidivisional firms’ efforts to formulate strategies
• Autonomous divisions (or profit centers) constitute the business portfolio
• Firm’s divisions may compete in different industries requiring separate strategy
© 2001 Prentice HallCh. 6-33
Strategy Analysis & Strategy Analysis & ChoiceChoice
Boston Consulting Group Matrix(BCG)
• Graphically portrays differences among divisions
• Focuses on market share position and industry growth rate
• Manage business portfolio through relative market share position and industry growth rate
© 2001 Prentice HallCh. 6-34
Strategy Analysis & Strategy Analysis & ChoiceChoice
Boston Consulting Group Matrix(BCG)
• Relative market share position defined:
Ratio of a division’s own market share in a particular industry to the market share held by the largest rival firm in that industry.
© 2001 Prentice HallCh. 6-35
BCG MatrixBCG Matrix
DogsDogs
IVIVCash CowsCash Cows
IIIIII
Question MarksQuestion Marks
IIStarsStars
IIII
Relative Market Share PositionHigh1.0
Medium.50
Low0.0
Ind
ust
ry S
ales
Gro
wth
Rat
e
High+20
Low-20
Medium0
© 2001 Prentice HallCh. 6-36
Strategy Analysis & Strategy Analysis & ChoiceChoice
BCG Matrix
• Question Marks • Stars• Cash Cows• Dogs
© 2001 Prentice HallCh. 6-37
Strategy Analysis & Strategy Analysis & ChoiceChoice
BCG Matrix
• Question Marks Low relative market share position
yet compete in high-growth industry. Cash needs are high Case generation is low
Decision to strengthen (intensive strategies) or divest
© 2001 Prentice HallCh. 6-38
Strategy Analysis & Strategy Analysis & ChoiceChoice
BCG Matrix• Stars
High relative market share and high industry growth rate. Best long-run opportunities for growth
and profitabilitySubstantial investment to maintain or
strengthen dominant position Integration strategies, intensive
strategies, joint ventures
© 2001 Prentice HallCh. 6-39
Strategy Analysis & Strategy Analysis & ChoiceChoice
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 weak—retrenchment or divestiture
© 2001 Prentice HallCh. 6-40
Strategy Analysis & Strategy Analysis & ChoiceChoice
BCG Matrix
• DogsLow relative market share position
and compete in slow or no market growth Weak internal and external position
Decision to liquidate, divest, retrenchment
© 2001 Prentice HallCh. 6-41
Strategy Analysis & Strategy Analysis & ChoiceChoice
Grand Strategy Matrix
• Popular tool for formulating alternative strategies
• Based on two evaluative dimensions Competitive position Market growth
© 2001 Prentice HallCh. 6-42
Grand Strategy Grand Strategy MatrixMatrix
Quadrant IV• Concentric
diversification• Horizontal
diversification• Conglomerate
diversification• Joint ventures
Quadrant III• Retrenchment• Concentric
diversification• Horizontal
diversification• Conglomerate
diversification• Liquidation
Quadrant I• Market development• Market penetration• Product development• Forward integration• Backward integration• Horizontal integration• Concentric
diversification
Quadrant II• Market development• Market penetration• Product development• Horizontal integration• Divestiture• Liquidation
RAPID MARKET GROWTH
SLOW MARKET GROWTH
WEAK COMPETITIVE
POSITION
STRONGCOMPETITIVE
POSITION
© 2001 Prentice HallCh. 6-43
Strategy Analysis & Strategy Analysis & ChoiceChoice
Grand Strategy Matrix
• Quadrant I Excellent strategic position Concentration on current markets and
products Take risks aggressively when necessary
© 2001 Prentice HallCh. 6-44
Strategy Analysis & Strategy Analysis & ChoiceChoice
Grand Strategy Matrix
• Quadrant II Evaluate present approach seriously How to change to improve competitiveness Rapid market growth requires intensive
strategy
© 2001 Prentice HallCh. 6-45
Strategy Analysis & Strategy Analysis & ChoiceChoice
Grand Strategy Matrix
• Quadrant III Compete in slow-growth industries Weak competitive position Drastic changes quickly Cost and asset reduction indicated
(retrenchment)
© 2001 Prentice HallCh. 6-46
Strategy Analysis & Strategy Analysis & ChoiceChoice
Grand Strategy Matrix
• Quadrant IV Strong competitive position Slow-growth industry Diversification indicated to more promising
growth areas
© 2001 Prentice HallCh. 6-47
Strategy Analysis & Strategy Analysis & ChoiceChoice
Quantitative Strategic Planning Matrix (QSPM)
• Comprises Stage 3 of the analytical framework
• Analytical technique designed to determine the relative attractiveness of feasible alternative actions.
• Uses input from Stage 1 and Stage 2
© 2001 Prentice HallCh. 6-48
Strategy Analysis & Strategy Analysis & ChoiceChoice
Quantitative Strategic Planning Matrix (QSPM)
• Tool for objective evaluation of alternative strategies
• Based on identified external and internal crucial success factors
• Requires good intuitive judgment
© 2001 Prentice HallCh. 6-49
QSPMQSPM
Key Internal FactorsManagementMarketingFinance/AccountingProduction/OperationsResearch and DevelopmentComputer Information Systems
Strategy 3Strategy 2
Strategy 1
WeightKey External FactorsEconomyPolitical/Legal/GovernmentalSocial/Cultural/Demographic/EnvironmentalTechnologicalCompetitive
Strategic Alternatives
© 2001 Prentice HallCh. 6-50
Strategy Analysis & Strategy Analysis & ChoiceChoiceQSPM
• List the firm’s key external opportunities & threats; list the firm’s key internal strengths and weaknesses
• Assign weights to each external and internal critical success factor
© 2001 Prentice HallCh. 6-51
Strategy Analysis & Strategy Analysis & ChoiceChoiceQSPM
• Examine the Stage 2 (matching) matrices and identify alternative strategies that the organization should consider implementing
• Determine the Attractiveness Scores (AS)
© 2001 Prentice HallCh. 6-52
Strategy Analysis & Strategy Analysis & ChoiceChoiceQSPM
• Compute the total Attractiveness Scores
• Compute the Sum Total Attractiveness Score
© 2001 Prentice HallCh. 6-53
Strategy Analysis & Strategy Analysis & ChoiceChoice
QSPMPositives:• Sets of strategies examined
simultaneously or sequentially• Requires the integration of
pertinent external and internal factors in the decision-making process
© 2001 Prentice HallCh. 6-54
Strategy Analysis & Strategy Analysis & ChoiceChoiceQSPM
Limitations:• Requires intuitive judgments
and educated assumptions• Only as good as the
prerequisite inputs
© 2001 Prentice HallCh. 6-55
Key Terms & ConceptsKey Terms & Concepts
• Aggressive quadrant• Attractiveness
Scores (AS)• Board of Directors• Boston Consulting
Group (BCG) Matrix• Business portfolio• Cash cows• Champions• Competitive
Advantage (CA)
• Competitive quadrant• Conservative quadrant• Culture• Decision stage• Defensive quadrant• Directional vector• Dogs• Environmental Stability
(ES)• Financial Strength (FS)
© 2001 Prentice HallCh. 6-56
Key Terms & ConceptsKey Terms & Concepts
• Grand Strategy Matrix• Halo error• Industry Strength (IS)• Input stage• Internal-External (IE)
Matrix• Long-term objectives• Matching• Matching stage• Quantitative Strategic
Planning Matrix (QSPM)
• Question marks• Relative market share
position• SO strategies• ST strategies• Stars• Strategic Position and
Action Evaluation (SPACE) Matrix
• Strategy-formulation framework
© 2001 Prentice HallCh. 6-57
Key Terms & ConceptsKey Terms & Concepts
• Sum total attractiveness scores
• Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix
• Total Attractiveness Scores (TAS)
• WO strategies• WT strategies