多角化新教材跟垂直整合策略资料.pptVIP

多角化與垂直整合策略 ISU_企管四B 策略管理 Lecture 6 2009.10.28 大綱 多角化策略：定義與範圍 多角化目的 多角化前提 多角化基本測驗 多角化評估準則 資源與多角化 討論 多角化定義 Definition Selecting and managing a group of different businesses competing in several industries and product markets What Businesses the firm should be in How the corporate office should manage the group of businesses Firm’s businesses as a portfolio of core competencies 價值與多角化 How corporate level strategy helps to gain value? Product Diversification Reduce variability in the firm’s profitability in that its earnings are generated from several different business units Require the crafting of a multi-business strategy Resource Synergy Searching for Economic of Scope Inter-business marketing or production 價值與多角化 Value of corporate level strategy is determined by The degree to which the businesses in the portfolio are worth more under the management of the company than they would be under any other ownership Alternative of ownership Investment for financial consideration Being a business under a company Being a company under a business group 多角化重要問題 How to Choose the generic strategy of diversification How much What kind of relatedness How the Industrial Structure may Influence the Relation between diversification and Performance How the portfolio concept influence the relation between diversification and performance Strategic Position Cash Flow Characteristic Balance of these cash flow 多角化程度 Low Levels of Diversification Single Business Dominant Business Moderate to High Levels of Diversification Related Constrained Related Linked (Mixed Related and Unrelated) Very High Levels of Diversification Unrelated 多角化目的（1） Risk Sharing 分散財務投資風險 財務考量 Value Added 資源綜效 追求範疇經濟 Enlarge Business Scope 尋找高成長產業，代替成長趨緩的本業 BCG模式 多角化目的（2） Innovation and Learning Purpose 開闢可追求成長或創新的新產業 3M, BCG公司 Financial Efficiency 內部資本市場 Manager Personnel Consideration 高階經營團隊特質 多角化、規模，與報酬之間關係 多角化前提：多角化與績效關係 多角化與績效間關係 倒U型關係 多大程度多角化，才能使績效提昇？ 多數公司多角化結果均無法有效帶來績效提昇 1950-1986年間，多數企業多角化是以購併方式進行 195