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ANALISIS STRATEGI DAN PILIHAN. BAB 6. OBJEKTIF BAB. Selepas mengikuti bab ini , anda seharusnya boleh : Menerangkan tiga tingkat rangka kerja untuk memilih alternatif-alternatif strategi yang sesuai .
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OBJEKTIF BAB • Selepasmengikuti bab ini, andaseharusnyaboleh: • Menerangkantigatingkatrangkakerjauntukmemilihalternatif-alternatifstrategi yang sesuai. • MenerangkanbagaimanauntukmembangunkanMatriksTOWS, Matriks SPACE, Matriks BCG, Matriks IE danMatriksQSPM. • Mengenalpastihal-halgelagat, politik, etika, dantanggungjawabsosialdalamanalisisstrategidanpilihan. • Mengetahuiperananintuisidalamanalisisstrategikdanpilihan. • Mengetahuiperananbudayaorganisasidalamanalisisstrategikdanpilihan. • MengetahuiperananAhliLembagaPengarahdalammemilihalternatif-alternatifstrategi.
PENGENALAN • Analisisstrategidanpilihanmelibatkanpembuatankeputusanyang subjektifberdasarkanmaklumat yang objektif.
ANALISIS STRATEGI DAN PILIHAN • Proses Penjanaan dan Pemilihan Strategi • Proses-prosespenjanaandanpemilihanstrategimelibatkanpengenalpastiandanpenilaianstrategi-strategialternatif. • Strategi-strategialternatif yang dicadangkan perlulah disenarai dan digredkan seperti berikut: • 1 = tidakbolehdilaksanakan, • 2 = tidakmungkinbolehdilaksanakan, • 3 = mungkinbolehdilaksanakandan • 4 = bolehdilaksanakan. • Prosesinibolehmemberikeputusankepadapemilihanstrategi yang terbaik.
RANGKA KERJA PENGGUBALAN STRATEGI YANG KOMPREHENSIF • Teknikpenggubalanstrategibolehdiintegrasikankepadatigaperingkat • TINGKAT INPUT • TINGKAT PEMADANAN • TINGKAT PEMBUATAN KEPUTUSAN • RangkakerjapembuatankeputusanRujukRajah 6.1 mukasurat 97
TINGKAT INPUT • Prosedur-proseduruntukmenggunakanMatriks EFE, MatriksKompetitif dan Matriks IFE telah dibincangkan dalam bab sebelumnya.
TINGKAT PEMADANAN • Di dalamtingkatpemadanan, • MatriksTOWS, • MatriksSPACE, • MatriksBCG, MatriksIE dan • MatriksGrand Strategy
Matriks TOWS • Matriks TOWS menunjukkanbagaimanagabunganfaktorluaran (peluangdanancaman) denganfaktordalamansyarikat (kekuatandankelemahan) bolehmewujudkanstrategi-strategi yang baru. • Iabolehmembantupengurusdalammembangunkanempatjenisstrategiiaitu • strategi SO, • strategi WO, • strategi ST dan • strategi WT.
Matriks TOWS • Strategi SO menggunakanfaktor-faktor yang terdapatdalamkekuatan dalaman syarikat untuk merebut peluang faktor-faktor luaran. • Contohnya, pelaksanaan AFTA 2003 boleh memberi peluangkepadasyarikat-syarikatuntukmeluaskanpasarannyakeluarnegara. Apabilasesebuahsyarikatmempunyaikekuatandarisegikewangansyarikat yang kukuh, makastrategipenembusanpasaran boleh diaplikasikan oleh syarikat tersebut.
Matriks TOWS • Strategi WO menggunakanpeluang-peluangluaran yang adauntuk mengatasi kelemahan dalaman syarikat. • Contohnya, Internet bolehmemberipeluangkepadasyarikatmeluaskanpromosidanpasarannyasertasecaratidaklangsungmembolehkansyarikatdikenalidiseluruhdunia (peluangluaran). Apabilasesebuahorganisasimempunyaikelemahandarisegipromosiprodukdanperkhidmatannya (kelemahandalaman), maka strategi pemasaran menerusi penggunaan internet boleh dilaksanakanolehsyarikat.
Matriks TOWS • Strategi ST, firma bolehlahmenggunakankekuatandalamansyarikatuntukmengelakataumeminimumkanancamanfaktorluaran. • Contohnya, sekiranyasesebuahorganisasimempunyaikekuatandarisegi modal dansumbermanusia (kekuatandalaman) danpesaing-pesaingdalamindustriadalahkompetitif(ancaman luaran), maka organisasi tersebut bolehlah melakukan strategi pakatan strategik dengan pesaingnya.
Matriks TOWS • Strategi WT adalah lebih kepada strategi defensif yang mana firma perlumeminimumkankelemahandanmengelakkanancamanolehfaktor-faktorluaran. • Contohnya, apabilasesebuahorganisasimempunyaikapasitipengeluaran yang berlebihan (kelemahandalaman) dantahapindustriorganisasitersebutsedangmengalamikejatuhandarisegijualandankeuntungan (ancamanluaran), makastrategikepelbagaiankonsentrikbolehlahdiaplikasikanolehorganisasitersebut.
Matriks TOWS • Lapanlangkah yang terlibatdalampenyediaanMatriksTOWS (Rujuk Rajah 6.2 ms 100) • Senaraikanpeluangluaransyarikat • Senaraikan ancaman luaran syarikat • Senaraikan kekuatan dalaman syarikat • Senaraikan kelemahan dalaman syarikat • Padankan kekuatan dalaman dengan peluang luaran dan rekodkanstrategi yang dicadangkandidalamkotakStrategi SO
Matriks TOWS • Lapanlangkah yang terlibatdalampenyediaanMatriks TOWS • Padankan kelemahan dalaman dengan peluang luaran dan kemudianrekodkanstrategi yang dicadangkankedalamkotakStrategi WO • Padankankekuatandalamansyarikatdenganancamanluaran dan rekodkan cadangan strategi di dalam kotak StrategiST • Padankan kelemahan dalaman syarikat dengan ancaman luaran dan rekodkan cadangan strategi di dalam kotak StrategiWT.
SPACE Matrix Strategic Position & Action Evaluation Matrix • Aggressive • Conservative • Defensive • Competitive
SPACE Matrix Two Internal Dimensions • Financial Strength (FS) • Competitive Advantage (CA)
SPACE Matrix Two External Dimensions • Environmental Stability (ES) • Industry Strength (IS)
Internal Strategic Position External Strategic Position Financial Strength (FS) Return on investment Leverage Liquidity Working capital Cash flow Inventory turnover Earnings per share Price earnings ratio Environmental Stability (ES) Technological changes Rate of inflation Demand variability Price range of competing products Barriers to entry Competitive pressure Price elasticity of demandEase of exit from market Risk involved in business SPACE Factors
Internal Strategic Position External Strategic Position Competitive Advantage (CA) Market share Product quality Product life cycle Customer loyalty Competition’s capacity utilization Technological know-how Control over suppliers & distributors Industry Strength (IS) Growth potential Profit potential Financial stability Technological know-how Resource utilization Ease of entry into market Productivity, capacity utilization SPACE Factors
Steps to Developing a SPACE Matrix • Select a set of variables to define FS, CA, ES, and IS. • Assign a numerical value: • From +1 to +6 to each FS & IS dimension • From -1 to -6 to each ES & CA dimension • Compute an average score for each FS, CA, ES, and IS.
Steps to Developing a SPACE Matrix 4. Plot the average score on the appropriate axis. 5. Add the two scores on the x-axis and plot the point. Add the two scores on the y-axis and plot the point. Plot the intersection of the new xy point. 6. Draw a directional vector from the origin through the new intersection point.
Strategy-Formulation Analytical Framework SWOT Matrix SPACE Matrix Stage 2:The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix
BCG Matrix Boston Consulting Group Matrix • Enhances multidivisional firm in formulating strategies • Autonomous divisions = business portfolio • Divisions may compete in different industries • Focus on market-share position & industry growth rate
BCG Matrix Relative Market Share Position • Ratio of a division’s own market share in an industry to the market share held by the largest rival firm in that industry
BCG Matrix Question Marks • Low relative market share, competes 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, competes in slow or no market growth • Weak internal & external position • Liquidation, divestiture, retrenchment
Strategy-Formulation Analytical Framework SWOT Matrix SPACE Matrix Stage 2:The Matching Stage BCGMatrix IEMatrix Grand Strategy Matrix
The Internal-External Matrix • Positions an organization’s various divisions in a nine-cell display • Similar to BCG Matrix except the IE Matrix: • Requires more information about the divisions • Strategic implications of each matrix are different
IE Matrix • Based on two key dimensions • The IFE total weighted scores on the x-axis • The EFE total weighted scores on the y-axis • Divided into three major regions • Grow and build – Cells I, II, or IV • Hold and maintain – Cells III, V, or VII • Harvest or divest – Cells VI, VIII, or IX
Strategy-Formulation Analytical Framework SWOT Matrix SPACE Matrix Stage 2:The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix
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 WEAK COMPETITIVE POSITION STRONG COMPETITIVE POSITION • Quadrant III • Retrenchment • Concentric diversification • Horizontal diversification • Conglomerate diversification • Liquidation • Quadrant IV • Concentric diversification • Horizontal diversification • Conglomerate diversification • Joint ventures SLOW MARKET GROWTH
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
Strategy-Formulation Analytical Framework Quantitative StrategicPlanning Matrix(QSPM) Stage 3:The Decision Stage
QSPM Quantitative Strategic Planning Matrix • Technique designed to determine the relative attractiveness of feasible alternative actions
Key External Factors Economy Political/Legal/Governmental Social/Cultural/Demographic/Environmental Technological Competitive Weight Strategy 1 Strategy 2 Strategy 3 Key Internal Factors Management Marketing Finance/Accounting Production/Operations Research and Development Computer Information Systems Strategic Alternatives QSPM
Steps to Develop a QSPM • Make a list of the firm’s key external opportunities/threats and internal strengths/weaknesses in the left column. • Assign weights to each key external and internal factor. • Examine the Stage 2 (matching) matrices, and identify alternative strategies that the organization should consider implementing.
Steps to Develop a QSPM • Determine the Attractiveness Scores. • Compare the Total Attractiveness Scores. • Compute the Sum Total Attractiveness Score.
QSPM Limitations • Requires intuitive judgments & educated assumptions • Only as good as the prerequisite inputs