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1、2021/12/16,烟草会议中欧讲稿分析,1,Lessons from Competitve Experiences,W.A. FischerCEIBS, ShanghaiFebruary 1, 1999,2021/12/16,烟草会议中欧讲稿分析,2,Understanding Rivalry:The Heart of the Competitive Equation,2021/12/16,烟草会议中欧讲稿分析,3,The Nature of Economic Inquiry,?the focus of economics from a Western, market-oriented p
2、erspectivehas largely been on how well an economy allocates resources, given preferences and technologies.,Richard R. Nelson,especially where firms are the principalallocating agents,2021/12/16,烟草会议中欧讲稿分析,4,The Nature of the Players,?economists tend to see firms asplayers in a multi-actor economic g
3、ame.,Richard R. Nelson,2021/12/16,烟草会议中欧讲稿分析,5,The Nature of Rivalry,The essence of rivalry is a strivingfor potentially incompatible positions?,Frederic M. Scherer,?the jockeying for share by firms within a market.,Besanko, Dranove & Shanley,2021/12/16,烟草会议中欧讲稿分析,6,Who are these 揻irms?and what
4、are their roles? Some fundamental assumptions,搮 an entity run by agents of thecapital-owning principals with thesole objective of maximizing the profits of the latter 厰,Ronald Dore,thus, in 搈odern?market economy, we can separate management from ownership.,2021/12/16,烟草会议中欧讲稿分析,7,Other Underlying Ass
5、umptions,profits surpluses being seen as a signal of performance in a marketa faith in market allocation of resources in complex situations over government allocation - because the customer is voting with their purchasesthe maximization of the overall social welfare function by the accumulation of n
6、umerous personal decisions - the customer being seen as being in the best position to determine what they want,2021/12/16,烟草会议中欧讲稿分析,8,Establishing the Arena,A market is that set of suppliers anddemanders whose trading establishesthe price of a good.,George Stigler & Robert Sherwin,Customers,Sup
7、pliers,Rivalry,2021/12/16,烟草会议中欧讲稿分析,9,In such a classical market setting, it is important to consider economies of scale,The history of the industrial revolution was one of economies of scale.,2021/12/16,烟草会议中欧讲稿分析,10,The Centrality of Scale Economies,The Economics of the Industrial Revolution,Stat
8、ic Economies Dynamic Economies,Cost per,Unit,Rated Capacity of Facility,Cost per,Unit,Cumulative Production of,A Standardized Item,Theoretical,2021/12/16,烟草会议中欧讲稿分析,11,In such a classical market setting, it is important to consider economies of scale,The history of the industrial revolution was one
9、of economies of scale.In markets where consumers are price sensitive, larger firms can use their cost advantage to gain an appreciable advantage over smaller firms.In the US, it has been shown that firm size is positively correlated with profitability.However, cause and effect are not well-establish
10、ed. Also, larger shares for some, mean lower shares for others.,2021/12/16,烟草会议中欧讲稿分析,12,In such a classical market setting, it is important to consider economies of scale,The history of the industrial revolution was one of economies of scale.But even in such a non-complex setting, bigger was not al
11、ways better.In fact, in studies in the US, mid-century, minimum optimal plant/firm size appeared to be small relative to market size single-digit.,2021/12/16,烟草会议中欧讲稿分析,13,The Centrality of Scale Economies,The Economics of the Industrial Revolution,Static Economies Dynamic Economies,Cost per,Unit,Ra
12、ted Capacity of Facility,Cost per,Unit,Cumulative Production of,A Standardized Item,Theoretical & Empirical,2021/12/16,烟草会议中欧讲稿分析,14,In such a classical market setting, it is important to consider economies of scale,But even in such a non-complex setting, bigger was not always better.One of the
13、lessons of the Japanese manufacuring triumphs of the last three decades has been the importance of learning, through repetitive manufacturing, which is different than just being bigger or smarter.,2021/12/16,烟草会议中欧讲稿分析,15,The Centrality of Scale Economies,The Economics of the Industrial Revolution,S
14、tatic Economies Dynamic Economies,Cost per,Unit,Rated Capacity of Facility,Cost per,Unit,Cumulative Production of,A Standardized Item,Theoretical & Empirical,2021/12/16,烟草会议中欧讲稿分析,16,In such a classical market setting, it important to consider economies of scale,One of the lessons of the Japanes
15、e manufacuring triumphs of the last three decades has been the importance of learning, through repetitive manufacturing. Yet, learning, especially when based on repetition, comes with the risk of rigidity if the focus is too-much on consistent cost-reduction.,2021/12/16,烟草会议中欧讲稿分析,17,The Importance
16、of Market Maturity,empirical research on 113 US manufacturing firms by CEIBS faculty,?nearly one half of the revenues generatedby the 11 most successful firms ?came from mature markets. However, 77 percent of revenuesfor 15 of the least successful firms came from mature markets.,Capon, Farley &
17、Hoenig,2021/12/16,烟草会议中欧讲稿分析,18,but, markets are changing;they are no longer classical nor simple,2021/12/16,烟草会议中欧讲稿分析,19,The History of Competition was marked by successive Industrial Revolutions,2021/12/16,烟草会议中欧讲稿分析,20,Tomorrow抯 Marketswill be characterized by:,* Increasingly demanding customers
18、 * An emerging global arena* An amalgamation of markets and resource pools EU, NAFTA, etc.* The appearance of adversarial trade* Neo-Kondratieffian technology changes* The quickening of the product life-cycle* The emergence of the knowledge-based information economy* An acceptance of new organizatio
19、nal formats Alliances, jvs, wofes, etc.,2021/12/16,烟草会议中欧讲稿分析,21,The Death of Firms,A dying company does not lead; it follows. It is losing market share, it is losing capabilities, it has the wrong set ofcompetencies, it is demoralized, its activities have little impact.In fact, all around us we can
20、 observe companies that are in a state worse than death - they have joined the living dead, aware(or not) that whatever they do makes little difference to theirsituation, and yet they feel compelled to keep on acting, producing, carrying on.Death is most often a long drawn out affair. Even withinept
21、 management, it still takes a long time to destry a largecompany with once strong, if currently obsolete capabilities.Death is no stranger to the ranks of once powerful manufacturing companies. Every industry has its share ofthe dead, as well as the terminally ill and the walking wounded.,Tom Vollma
22、nn:,2021/12/16,烟草会议中欧讲稿分析,22,Death Signals of the non-competitive,staying level of falling behind the competitionrisk aversionbureaucracylosing capabilitieserosion of what were once distinctive competenciesinternal focusing of corporate attentionlimited knowledge of the customerpanic decisions to re
23、duce short-run costsnot developing people? Tom Vollmann,2021/12/16,烟草会议中欧讲稿分析,23,In Hyper-competitive Markets,Such as those characterizing global markets in the late20th century, that are filled with 搒urprises?1. the ability to navigate from one product generationto another is the basis for sustaine
24、d competitive advantage. Think about Wang!2. great organizations are necessary to produce greatproducts (more than once), while great products do notguarantee great organizations. 3. 揌igh returns are not sustainable in a particular market,but the process of generating high returns can be sustainable
25、.last quote is from:,Capon, Farley & Hoenig,2021/12/16,烟草会议中欧讲稿分析,24,Early Lessons from In Search of Excellence,Excellent firms are characterized by (among otherthings:,Bias for ActionClose to the CustomerAutonomy & EntrepreneurshipFocusSimple form, Lean staff,Peters & Waterman,2021/12/1
26、6,烟草会议中欧讲稿分析,25,More recent findings from Europe,Excellent European firms are characterized by (among otherthings):,Devolving leadership (without losing control or direction)Driving radical change (in the entire corporate system, not just in its parts)Reshaping cultureDividing to rule (winning the r
27、ewards of smallness whilestaying or growing large)Keeping the competitive edge (in a world where the old waysof winning no longer work)Achieving constant renewal,Robert Heller,2021/12/16,烟草会议中欧讲稿分析,26,Determinants of Financial Performance,competing in relatively concentrated markets with higher mark
28、et sharecompeting in growing marketshigh investment in developing new products & serviceshigh involvements in markets outside of USlow debt levelsan entreprenurial atmosphere,empirical research on 113 US manufacturing firms by CEIBS faculty,Capon, Farley & Hoenig,2021/12/16,烟草会议中欧讲稿分析,27,Com
29、paring High & Low Performers,empirical research on 113 US manufacturing firms by CEIBS faculty,High-Performing High-Share Focused Innovators,concentrate capital investment in growing international marketsgenerate new products from high R&D budgetsare highly vertically integrated have little
30、diversification have low debthighly specialized in their organization,High-Performing Focused World Consumerists,focus less internationally spend heavily on advertisinghave low debt diversification almost nonexistent,Capon, Farley & Hoenig,2021/12/16,烟草会议中欧讲稿分析,28,Comparing High & Low Perfor
31、mers,empirical research on 113 US manufacturing firms by CEIBS faculty,Low-Performing Diversified Indentured Industrialists,spend little on R&Dwere frequently involved in mergers conducted under duressare highly diversifiedhave high debtonly average on international investment,Capon, Farley &
32、; Hoenig,2021/12/16,烟草会议中欧讲稿分析,29,Navigating Resources & Information,InformationComplexity,High,Low,Resource Scarcity,Low,High,Lawrence & Dyer,Development Paths fora Typical Industry,2021/12/16,烟草会议中欧讲稿分析,30,this will mean changing the ways in which we do business,2021/12/16,烟草会议中欧讲稿分析,31,Di
33、mensions of Transformation,Speed,Fast,Slow,Scope,Broad,Narrow,DoingDifferentThings,Doing theSameThingsBetter,Turnaround,Transformation,Reengineering,ContinuousImprovement,Source: Tom Vollmann,2021/12/16,烟草会议中欧讲稿分析,32,and, changing the businesses we do,2021/12/16,烟草会议中欧讲稿分析,33,Industry Restructuring
34、as Value Migration,Market Value is a measure of the power of a business design to create and capture value. Adrian J. SlywotzkyCustomers make choices based on their priorities. Those choices develop potential value for the businessesfrom which they buy. At any given time, the pattern of those choice
35、s allocates value to various business designs.As customers?priorities change and new designs presentcustomers with new options, they make new choices. Theyreallocate value. These changing priorities, and the way inwhich they interact with new competitors?offerings, are what trigger, enable, or facil
36、itate the Value Migration process. Adrian J. Slywotzky,2021/12/16,烟草会议中欧讲稿分析,34,Value Migration today in China?.,The firms that are winning in the China market are those that control their value-chains, especially down-stream from manufacturing!Building brands makes the difference in competing on fa
37、ctors other than price: brand & customer service requires value-chain discipline. National brands are being built today, as in the past, by value-chain control.,2021/12/16,烟草会议中欧讲稿分析,35,in China, value migration results in .,Focusing solely on transport costs may ignore 75% of the distribution c
38、osts.In China, nearly 2/3 of distribution costs comes in product loss & damage, and the associated inventory costs.Customer service & accounts receivable both benefit from value-chain control.,Business China 12/07/98,2021/12/16,烟草会议中欧讲稿分析,36,Industry Restructuring & Value Migration,Value
39、 Migration is not new. Value migrated away Ford抯 vertically integrated, single-car-focused businessdesign toward GM抯 price-laddered business design in the1920s. It moved from grocery store chains to supermarketsin the 1930s, from fragmented merchandisers to nationalcatalogue sales in the 1890s (Sear
40、s), and to national merchandise chains in the 1920s (Sears again). Adrian J. SlywotzkyThere are always winners and losers in the ValueMigration process.,2021/12/16,烟草会议中欧讲稿分析,37,We Must Re-etablish the Arena,there is a big difference between defining competitors as 搕hose companies that do the same t
41、hing that we do 厯 and defining them instead as those business designs that customers can choose from in satisfying their priorities.,Adrian J. Slywotzky,Where a business design is the totality of how a companyselects its customers, defines & differentiates its offerings,defines the tasks it will
42、 perform ? configures its resources,goes to market, creates utility for its customers and earninga profit from that activity.,2021/12/16,烟草会议中欧讲稿分析,38,The Broader Version of Rivalry,Threat of New Entrants,Customers,Suppliers,Substitutes,Rivalry,more of 搕hose companies that do the same thing that we
43、do 厯,those other business designs that customers can choose from in satisfying their priorities.,2021/12/16,烟草会议中欧讲稿分析,39,Industry Policy & Organizational Choices,Much of the present-day debate over industrial policy is implicitly a debate over organizational patterns and structures.,Richard N.
44、Langlois & Paul L. Robertson,2021/12/16,烟草会议中欧讲稿分析,40,Determining Organizational Forms,?devising and learning to use effectively a significantly new organizational form involves much thesame kind of uncertainty, experimental groping, and learning by making mistakes and correcting them that marks
45、 technological ?innovation. New modes oforganization aren抰 simply 揷hosen?when circumstancesmake them appropriate. They ?evolve in a manner thatis foreseen only dimly. And even when a firm makes aconscious decision to change organization, it may take a long time before it is comfortable and effective in its newsuit of clothes. Richard R. Nelson,