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MANAJEMEN STRATEGI dan KINERJA BISNIS FO312. Chapter 11 STRATEGI UMUM KORPORASI. Corporate Strategy. Three Key Issues: Firm’s directional strategy Firm’s portfolio strategy Firm’s parenting strategy. Corporate Strategy. Directional Strategy: Three Grand Strategies: Growth strategies
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MANAJEMEN STRATEGI danKINERJA BISNISFO312 Chapter 11 STRATEGI UMUM KORPORASI
Corporate Strategy Three Key Issues: • Firm’s directional strategy • Firm’s portfolio strategy • Firm’s parenting strategy
Corporate Strategy Directional Strategy: • Three Grand Strategies: • Growth strategies • Stability strategies • Retrenchment strategies
Corporate Strategy Growth Strategies: • Most widely pursued strategies • External mechanisms: • Mergers • Transaction involving two or more firms in which stock is exchanged but only one firm survives. • Acquisition • Purchase of a firm that is absorbed as an operating subsidiary of the acquiring firm. • Strategic Alliance • Partnership of two or more firms to achieve strategically significant objectives that are mutually beneficial.
Corporate Strategy 2 Basic Growth Strategies: • Concentration • Current product line in one industry • Diversification • Into other product lines in other industries
Corporate Strategy Concentration: Vertical growth • Vertical integration • Full integration • Taper integration • Quasi-integration • Backward integration • Forward integration
Corporate Strategy Concentration: Horizontal Growth • Horizontal integration
Corporate Strategy Diversification: Concentric: • Growth into related industry • Search for synergies
Corporate Strategy Diversification: Conglomerate: • Growth into unrelated industry • Concern with financial considerations
Corporate Strategy Exporting Licensing Franchising Joint Ventures Acquisitions Green-Field Development Production Sharing Turnkey Operations BOT Concept Management Contracts International Entry Options
Corporate Strategy Stability Strategies: • Pause/proceed with caution • No change • Profit strategies
Corporate Strategy Retrenchment Strategies: • Turnaround • Captive Company Strategy • Selling out • Bankruptcy • Liquidation
Corporate Strategy Portfolio Analysis • How much of our time and money should we spend on our best products to ensure that they continue to be successful? • How much of our time and money should we spend developing new costly products, most of which will never be successful?
BCG Matrix Question Marks • Low relative market share – compete in high-growth industry • Cash needs are high • Case generation is low • Decision to strengthen (intensive strategies) or divest
BCG Matrix Stars • High relative market share and high growth rate • Best long-run opportunities for growth & profitability • Substantial investment to maintain or strengthen dominant position • Integration strategies, intensive strategies, joint ventures
BCG Matrix Cash Cows • High relative market share, competes 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 weakens—retrenchment or divestiture
BCG Matrix Dogs • Low relative market share & compete in slow or no market growth • Weak internal & external position • Liquidation, divestiture, retrenchment
Corporate Strategy Portfolio Analysis Advantages: • Top management evaluates each of firm’s businesses individually • Use of externally-oriented data to supplement management judgment • Raises issue of cash flow availability • Facilitates communication
Corporate Strategy Portfolio Analysis Disadvantages: • Difficult to define product/market segments • Standard strategies can miss opportunities • Illusion of scientific rigor • Value-laden terms
Corporate Strategy Corporate Parenting: • Views the corporation in terms of resources and capabilities that can be used to build business unit value as well as generate synergies across business units.
Corporate Strategy Corporate Parenting: • Strategic factors • Those elements of a company that determine its strategic success or failure • Performance improvement • Analyze fit
Corporate Strategy Horizontal Strategy: • Corporate strategy that cuts across business unit boundaries to build synergy across business units to improve the competitive position of one or more business units.
Grand Strategy Matrix • Tool for formulating alternative strategies • Based on two dimensions • Competitive position • Market growth
RAPID MARKET GROWTH • Quadrant II • Market development • Market penetration • Product development • Horizontal integration • Divestiture • Liquidation • Quadrant I • Market development • Market penetration • Product development • Forward integration • Backward integration • Horizontal integration • Concentric diversification • Quadrant III • Retrenchment • Concentric diversification • Horizontal diversification • Conglomerate diversification • Liquidation • Quadrant IV • Concentric diversification • Horizontal diversification • Conglomerate diversification • Joint ventures
Grand Strategy Matrix Quadrant I • Excellent strategic position • Concentration on current markets/products • Take risks aggressively when necessary
Grand Strategy Matrix Quadrant II • Evaluate present approach • How to improve competitiveness • Rapid market growth requires intensive strategy
Grand Strategy Matrix Quadrant III • Compete in slow-growth industries • Weak competitive position • Drastic changes quickly • Cost & asset reduction (retrenchment)
Grand Strategy Matrix Quadrant IV • Strong competitive position • Slow-growth industry • Diversification to more promising growth areas