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.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
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