[catatan] corporatestrategy-hitt-09.pptx
Transcript of [catatan] corporatestrategy-hitt-09.pptx
S. A. P
E.T. O. P
MisiVisi
Tujuan
Formulasi StrategiBusiness, Corporate strategy,internasionalisasi, strukturisasi, Aliansi, merger
Implementasi StrategiCorporate Governance, LeadershipEntrepreneurhip, control dan restrukturisasi
Keunggulan bersaing berkelanjutan
PROSES MANAGEMENT STRATEGIC
Fungsi-Fungsi DalamCorporate Strategy
• Directional: Orientation toward growth
• Portfolio Analysis: Coordination of cash among units
• Corporate Parenting: Building synergies among units through resource sharing
Entre-preneurship
Etop
S A P
SpecificResouerce(Restructuring)
RelatedDifercification(integration)
UnrelatedDifercification
NewResourceDevelopment
Model Pertumbuhan Perusahaan
KeunggulanKompetitif
Value
BalanceScoreCard
Make strategy a continuall process
Link budget to strategy,Analytics and information
system
Make strategy everyone’s every
Day jobStrategic awareness,Personal scorecard,Balance paychecks
Mobilize Change Melalui Executive
Leadership (Mobilization, Covernance
Process, Strategic managemen)Translate the strategi
Kedalam opetrational Term
Strategy map, balance scorte card
Align the organizationTo the strategy
Corporate role, Busness unit synergies,Share service synergies
Strategy Focus
Corporate dan BusinessStrategic
CorporateLevel
SBU IIIBusiness Strategy
SBU IIBusiness strategy
SBU IBusiness Strategy
Operation Marketing
FinanceRD
Boston Consulting GroupGrowth-Share Matrix
Stars Question Marks
Cash Cows
Dogs
2220
18
1614
12
10
8
64
20
10x 4x 2x
1.5x 1x
0.5x
0.4x
0.3x
0.2x
0.1x
Relative Competitive Position
Bus
ines
s G
row
th R
ate/
reso
u rce
s
(Per
cent
)
Source: B. Hedley, “Strategy and the Business Portfolio,” Long Range Planning (February 1997), p. 12. Reprinted with permission.
Portfolio Analysis
Jack Welsh
General Electric’s Business Screen a la the Jack Welsh dynasty
AWinners Winners
B
C
Question Marks
D
F
Average Businesses
EWinners
Losers
GLosers H
LosersProfit
Producers
Strong Average Weak
Low
Medium
High
Business Strength/Competitive Position
Indu
s try
Att r
act iv
ene s
s
Source: Adapted from Strategic Management in GE, Corporate Planning and Development, General Electric Corporation. Used by permission of General Electric Company.
PortofolioANALYSIS
THE ROLE OF DIVERSIFICATION
• Diversification strategies play a major role in the behavior of large firms karena :
• Product diversification berkaitan dengan:– The scope of the industries and markets in which
the firm competes (opportunity)– How managers buy, create and sell different
businesses to match skills and strengths with opportunities presented to the firm utk menciptakan sinergi.
Two Strategy Levels Diversifikasi
• Business-level Strategy (Competitive Aspek)– Each business unit in a diversified firm chooses a business-
level strategy as its means of competing in individual product markets (memenangkan persaingan dengan product line).
• Corporate-level Strategy (Company wide)– Specifies actions taken by the firm to gain a competitive
advantage by selecting and managing a group of different businesses competing in several industries and product markets (Eksploitasi synergi).
Diversifying to Enhance Competitiveness ada 2 macam
• Related Diversification– Economies of scope– Sharing activities– Transferring core competencies– Market power– Vertical integration
• Unrelated Diversification– Financial economies
• Efficient internal capital allocation• Business restructuring
Strategic Motives for Diversification Untuk memperoleh Strategic Competitiveness:• Economies of scope (related diversification)
Sharing activitiesTransferring core competencies
• Market power (related diversification)Blocking competitors through- multipoint competition,Vertical integration
• Financial economies (unrelated diversification) Efficient internal capital allocation
Business restructuring.
Table 6.1a
Managerial Motives for Diversification
Managerial Motives !!! (Value Reduction)• Diversifying managerial employment risk• Increasing managerial compensation
Table 6.1c
Related Diversification
• Firm creates value by building upon or extending its:– Resources– Capabilities– Core competencies
• Economies of scope– Cost savings that occur when a firm transfers capabilities
and competencies developed in one of its businesses to another of its businesses (eficiency)
Related Diversification: Economies of Scope
• Value is created from economies of scope through:– Operational relatedness in sharing activities– Corporate relatedness in transferring skills or
corporate core competencies among units
• The difference between sharing activities and transferring competencies is based on how the resources are jointly used to create economies of scale dan scope
Sharing Activities
• Operational Relatedness– Created by sharing either a primary activity such as
inventory delivery systems, or a support activity such as purchasing
– Activity sharing requires sharing strategic control over business units
– Activity sharing may create risk because business-unit- ties, create links between outcomes (sharing outcome)
Corporate Relatedness Diversivication
• Creates value in two ways:– (1) Eliminates resource duplication in the need to allocate resources for
a second unit to develop a competence that already exists in another unit
– (2) Provides development intangible resources (resource intangibility) that are difficult for competitors to understand and imitate.
• A transferred tangible resource gives the unit receiving it an immediate competitive advantage over its rivals
Related Diversification: Market Power
• Multipoint Competition– Two or more diversified firms simultaneously compete in the
same product areas or geographic markets• Vertical Integration
– Backward integration• —a firm produces its own inputs
– Forward integration• —a firm operates its own distribution system for delivering its outputs
Unrelated Diversification
• Financial Economies
– Are cost savings realized through improved allocations of financial resources• Based on investments inside or outside the firm
– Create value through two types of financial economies:• Efficient internal capital allocations• Purchasing other corporations and restructuring their
assets
Unrelated Diversification: Restructuring
• Restructuring creates financial economies– A firm creates value by buying and selling other firms’ assets
in the external market
• Resource allocation decisions may become complex, so success often requires:– Focus on mature, low-technology businesses– Focus on businesses not reliant on a client orientation
Internal Incentives to Diversify
• High performance eliminates the need for greater diversification
• Low performance acts as incentive for diversification
Low Performanc
e
Internal Incentives to Diversify (cont’d)
• Diversification may be defensive strategy if:– Product line matures– Product line is threatened.– Firm is small and is in mature
or maturing industry
Low Performanc
eUncertain
Future Cash Flows
Internal Incentives to Diversify
• Synergy exists when the value created by businesses working together exceeds the value created by them working independently
• but synergy creates joint interdependence between business units
• A firm may become risk averse and constrain its level of activity sharing
• A firm may reduce level of technological change by operating in more certain environments
Low Performanc
eUncertain
Future Cash Flows
Synergy and Risk
Reduction
Kualitasaliansi
Orientasipasar
Internallearning
.17
assetStrategik
.37
externallearning
.16
Kinerjaperusahaan
.11
.30
.36
.71
d1
d4
d3
.37
.17
.26
.02
INOVASI
.07
d2 .33
Uji Kelayakan ModelModerasi =adapt1
Model =Standardized estimatesChi Square =35.813
Probability =.119R M S E A =.040
Normed Fit Index=.993Tucker-Levis In =.995
Compar-Fit Index =.998Parsimoni Ratio =.321
.14
.13
.10