MBA全套教材7战略管理CHAP009.pptVIP

STRATEGY AND COMPETITIVE ADVANTAGE IN DIVERSIFIED COMPANIES “. . .to acquire or not to acquire: that is the question.” Robert J. Terry “Fit between a parent and its businesses is a two-edged sword: a good fit can create value; a bad one can destroy it.” Andrew Campbell, Michael Gould, and Marcus Alexander Chapter Outline When to Diversify Building Shareholder Value Related vs. Unrelated businesses Related Diversification Strategies Unrelated Diversification Strategies Combination Related-Unrelated Diversification Strategies Strategies for Entering New Businesses Strategy Options for Diversified Companies Strategies to Broaden a Diversified Company’s Base Divestiture Strategies Corporate Restructuring and Turnaround Strategies Multinational Diversification Strategies Diversification and Corporate Strategy A company is diversified when it is in two or more lines of business Strategy-making in a diversified company is a bigger picture exercise than crafting a strategy for a single line-of-business A diversified company needs a multi-industry, multi-business strategy A strategic action plan must be developed for several different businesses competing in diverse industry environments Four Main Tasks inCrafting Corporate Strategy Pick new industries to enter and decide on means of entry Initiate actions to boost combined performance of businesses Pursue opportunities to leverage cross-business value chain relationships and strategic fits into competitive advantage Establish investment priorities, steering resources into most attractive business units Competitive Strengths of aSingle Business Strategy Less ambiguity about “who we are” Energies of firm can be directed down one business path and keeping strategy responsive to industry change Less chance resources will be stretched thinly over too manycompeting activities Resources can be fo