美国各行业平均经济利润率.ppt

Lessons教训 It failed to act on SRI’s recommendation to build a California brewery, did not anticipate or react quickly to the effects of Phillip Morris’s acquisition of Miller, ignored the obvious unsustainability of its advantages with regard to vertical integration and production scale and, most broadly, missed the point that any time a company makes a lot of money, its rivals (and others) are likely to come after it. Coors未听从SRI”在California建酿酒厂“的建议；对于Phillip Morris 并购Miller，事前未预料、事后也未采取迅速反应；没有认识到自己的优势（纵向一体化和规模经济）不具有可持续性。由此得出教训：一家公司可以抓住机遇在任何时点赚钱，但竞争对手（或其他人）也可以随之采取同样措施。 * * 第六十三页，共八十四页。 单独或同时经营早、晚报的支出表 * * 第六十四页，共八十四页。 Economies of Scope范围经济 source -- joint cost: cost of inputs that do not change with scope of production一个主要来源是： 共同成本: 一种不会随生产种类多少而变动的要素投入成本。 Examples 例如 Qwest的IP网络: 声音+数据 有线电视+电话 战略影响—生产多样化产品或提供多样化服务。 * * 第六十五页，共八十四页。 Challenges挑战 Declining production in De Beers’ mines, defections of other major producers, and increasing stockpiling ($4.8 b, end 98’) De Beer自产矿石量下降,其他主要粗矿生产商背叛联盟,储备日益增加(1998年年底高达48亿美元) Asian financial crises, and importance of the U.S. market --- But De beers is under indictment in the United States just as it wants to expand its direct presence in the U.S. market 亚洲金融危机，美国市场重要性增强——但正当De Beers想要直接扩张美国市场时,却在美国遭到指控 falling stock price, and control of 21% shares by U.S. investors 股价下跌，美国投资者控制21%的股份 * * 第三十一页，共八十四页。 De Beers’ StrategyDe Beer的战略 Leave 放弃美国市场 It is simply not realistic for De Beers to leave its largest market. De Beers放弃其最大的市场是不现实的选择 Evade 逃避 Avoid prosecution simply by continuing its arms length relationship with the U.S. market 不直接进入美国市场, 从而避免被起诉 Change business practice 改变商业行为 From selling off CSO, to rewriting restrictive