战略管理竞争性和全球化doc35.docx

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战略管理竞争性和全球化doc35

StrategicManagement

Competitivenessandglobalization:

Concepts&Cases

ThirdEdition

Hitt,Ireland,Hoskisson

ChapterIStrategicManagementandStrategicCompetitiveness

Chapter2TheExternalEnvironmentOpportunities,Threats,Industry

CompetitionandCompetitorAnalysis

Chapter3TheinternalEnvironment:

Resources,CapabilitiesandCoreCompetencies

Chapter4Business-LevelStrategy

Chapter5CompetitiveDynamics

Chapter6CorporateLevelStrategy

Chapter7AcquisitionsandRestructuring

Chapter8InternationalStrategy

Chapter9CooperativeStrategies

Chapter10CorporateGovernance

Chapter11OrganizationalStructureandControl

Chapter12StrategicLeadership

Chapter13CorporateEntrepreneurshipandinnovation

CHAPTER1

STRATEGY&STRATEGICCOMPETITIVENESS

LearningObjectives:

1.Understandthe

l.Definestrategiccompetitiveness,competitiveadvantageandabove-averagereturns.

2.Discussthechallengeofstrategicmanagement.

3.Describethenewcompetitivelandscapeandhowitisbeingshapedbyglobaland

technologicalchanges.

4.Usetheindustrialorganization（I/O）modeltoexplainbowfirmscanearnabove-average

returns.

5.Usetheresourcesbasedmodeltoexplainhowfirmscanearnaboveaverage-returns.

6.Describestrategicintentandstrategicmissionanddiscusstheirvaluetothestrategic

managementprocess.

7.Definestakeholdersanddescribethethreeprimarystakeholdergroups'abilitytoinfluence

organizations.

8.Describetheworkofstrategists.

9.Explainthestrategicmanagementprocess.

ChapterOutlines

1.StrategyandStrategicManagement

2.TheChallengeofStrategicManagement:

●Theglobaleconomyandglobalization,

●Technologicalchangeanddiffusion,

●Theinformationageandincreasingknowledgeintensity

3.TheI/OModelofAbove-AverageReturns

4.TheResource-basedModelofAbove-AverageReturns

5.StrategicIntentandStrategicMission

6.Stakeholders

7.OrganizationalStrategists

8.ReviewQuestions

TeachingFocus:

Itmaybeverygoodtobeginthislecturewithageneralcommentthat

ChapterIprovidesanoverviewofthestrategicmanagementprocess.InthisChapter,the

Authorsintroducesanumberoftermsandmodelsthatstudentswillstudyinmoredetailin

Chapters2through13.Stresstheimportanceofstudentspayingcarefulattentiontothe

conceptsintroducedinthisChaptersothattheyarewellgroundedinthestrategic

managementconceptbeforeproceedingfurther.

ThisChapter'sOpeningCasediscussesthechangestakingplaceinthetelecommunications

industryandtheeffectsofthesechangesontheindustry'scompetitivelandscape.

OpeningCaseANewWorldOrderintheTelecommunicationsindustry

●TheFederalCommunicationsCommissionvotedtoallowforeigncompaniesincreasedaccesstotheU.S.market.

●AWorldTradeOrganizationAgreementsaw69countriesagreetoopentheir

Telecommunicationsmarkets.

●CountriesoftheEuropeanUnionarederegulatingtheirtelecommunicationsmarketsand

previouslyprotectedfranchisesarenowopentoforeignanddomesticcompetition.

●EmergingmarketssuchasChinapresentsignificantopportunitiestotelecommunicationsfirmsfromaroundtheworld.

●Theabilityoffirmstocompetesuccessfullyinthisnewcompetitivelandscape,willbe

determinedbytheirabilitiestomarshal（meaning:

controlandorganize）vastamountsofresources.Asanexample,in1996,therequiredinvestmentintheglobaltelecommunicationsinfrastructurewas$160billion,anamountthatseemssmallcomparedtothe$1trillionopportunityinChinaalone.AndvastinvestmentsalsowillberequiredtomaintaincompetitivetechnologicalparitythroughoutEuropeandAsiaaswellasintheU.S.

AsimpliedbytheChaptertitle---strategicManagementandStrategicCompetitiveness---and

illustratedbythediscussionofchangestakingplaceinthetelecommunicationsindustry,the

primarypurposeofthestrategicmanagementprocessistoenablefirmstoachievestrategic

competitivenessandearnabove-averagereturns.Anin-depthdiscussionofinternational（global）

strategieswillbefoundinChapter8.

Definitions:

●strategy

●Strategiccompetitivenessisachievedwhenafirmsuccessfullyformulatesandimplementsavalue-creatingstrategy.Byimplementingavalue-creatingstrategythatcurrentandpotentialcompetitorsarenotsimultaneouslyimplementingandthatcompetitorsareunabletoduplicatethebenefitsof,afirmachievesasustainedorsustainablecompetitiveadvantage.

●Aboveaveragereturnsrepresentreturnsthatexceedreturnsthatinvestorsexpecttoearnfromotherinvestmentswithsimilarlevelsofrisk（investoruncertaintyabouttheeconomicgainsorlossesthatwillresultfromaparticularinvestment）.Inotherwords,aboveaverage-returnsexceedinvestors'expectedlevelsofreturnforgivenlevelsofrisk..Solongasafirmcansustain（ormaintain）acompetitiveadvantage,investorswillearnabove-averagereturns.

Teachingsuggestion:

Pointoutthat,inthelongrun,firmsmustearnatleastaveragereturns

andprovideinvestorswithaveragereturnsiftheyaretosurvive.Ifafirmearnsbelowaverage

returnsandprovidesinvestorswithbelow-averagereturns,investorswillwithdrawtheirfunds

andplacethemininvestmentsthatearnatleastaveragereturns.

●StrategicManagementProcessisaframeworkthatcanassistfirmsintheirquestforstrategiccompetitiveness,itisthefullsetofcommitments,decisionsandactionsrequiredforafirmtosystematicallyachievestrategiccompetitivenessandearnabove-averagereturns-ThisprocessisillustratedinFigure1-1.

Thedynamicnatureofthestrategicmanagementprocessisindicatedbyfeedbacklinkages

amongthethreeprimaryelements:

strategicinputs,strategicactionsandstrategicoutcomes.

●Strategicinputs,intheformofinformationgainedbyscrutinizingtheinternalenvironment

andscanningtheexternalenvironmentareusedtodevelopthefirm'sstrategicintentand

strategicmission.

●Strategicactionsareguidedbythefirm’sstrategicintentandstrategicmission,andarerepresentedbystrategiesthatareformulatedordevelopedandsubsequentlyimplementedorputintoaction.

●Strategicoutcomeistheresultofafirm’sstrategyimplemented.Adesiredstrategicoutcome---strategiccompetitivenessandabove-averagereturns---resultwhenafirmisabletosuccessfullyformulateandimplementvalue-creatingstrategiesthatothersareunabletoduplicate.

●Feedbacklinkstheelementsofthestrategicmanagementprocesstogetherandhelpsfirms

continuouslyadjustorrevisestrategicinputsandstrategicactionsinordertoachievedesired

strategicoutcomes.

ThisChapteralsowilldiscusstwoapproachestothestrategicmanagementprocess.Thefirst,

theindustrialorganizationmodel,suggeststhattheexternalenvironmentshouldbeconsideredastheprimarydeterminantofafirm'sstrategicactions.Thesecondistheresource-basedmodel,

whichperceivesthefirm’sresourcesandcapabilities（theinternalenvironment）ascriticallinks

tostrategiccompetitiveness.FollowingthediscussioninthisChapter,aswellasinChapters2

and3,studentsshouldseethatthesemodelsmustbeintegratedtoachievestrategicCompetitiveness.

THECHALLENGEOFSTRATEGICMANAGEMENT

Asnotedinearliercomments,allfirms--andmanagers--arechallengedtoachievestrategic

competitivenessandearnabove-averagereturns.And,thechallengecanbeformidable.A

primarychallengefacingmanagerstodayistheneedtorecognize--asillustratedbythecomments

onsuchfirmsasIBM,UnionPacific,HondaandTheLimited--thatthestrategicmanagement

processandthestrivingforstrategiccompetitivenesstakesplaceinadynamicglobaleconomy.

Asaresultofthisongoingstruggle,successtodaydoesnotnecessarilyequatewithsuccess

tomorrow.

Hondahashadtomakemajorchangestosurviveintheglobalautomobilemarket.Inits

attempttomakeitsflagshipAccordmoresporty,itfoundthatthecarwastoosmalltosatisfythe

expectationsandnotsportyenoughtosatisfyJapanesebuyers.Asaresult,ithasdesignedthe

Accordarounda``worldcar''designwithalterationstomeetdifferentmarketexpectations.Its

U.S.Accordisnowlarger,theJapanesemodelissmallerandcontainsmoreofthehigh-

technologyfeaturesdesiredbyJapanesebuyersandasmallerEuropeanversionhasbeen

introduced.

TABLEI-1TopTenWealthCreators

AsshowninTable1-1,Coca-ColaandGeneralElectriccontinuetoleadtheleastofwealth

creatorsforthesecondconsecutiveyearstheyhavecreatedmorewealth（measuredbymarket

valueadded）thanotherU.S.firms.However,Thebalanceofthelistingindicatestheshifting

natureofsuccessfortheotherfirms.

●Since1992,Microsofthasimprovedfromnumber14tonumberthreeonthelist.

●Intelhasleapedfromnumber74in1992tothenumberfourpositionin1997.

●WhiletheotherchangesinthelisthavenotbeenasdramaticasthosereportedforMicrosoft

andIntel,studentsshouldrecognizethatthedynamicsofthenewcompetitivelandscapehave

resultedinashufflingofpositionsfortheotherfirmsonthelist.

Thetransientnatureofstrategiccompetitivenessispointedoutevenmoreclearlywhenone

Realizethatonly2ofthe25largestU.S.industrialcorporationsin1900remaincompetitivein

the1990sandthatfourmembersof1997'stoptenwerenotamongthetoptenin1992

.

Italsoshouldbenotedthatfirmsintheglobaltelecommunicationsindustry--includingAT&T,

NipponTelephone&TelegraphandWorldCommustbepreparedtocompetedifferentlythan

theyhaveinthepastiftheyhopetoachievelong-termstrategiccompetitiveness.Onekeyto

successwillbewhi