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1、CONFIDENTIAL,BU Strategic Plan Basics,Training materials,This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey it is not a complete record of the disc

2、ussion.,Jim Ayala PHOMelissa Gil PHORegina Manzano PHOSuresh Mustapha PHOSteve Shaw HKOShelly Yeh PHOChoon-Gin Tan SIO,DESCRIPTION OF MATERIALS,This document was developed as a training presentation for the newly appointed Business Unit CEOs of an Asian Family-owned conglomerate.The purpose of this

3、document is to guide new CEOs through the basic elements of developing a BU-level strategic plan.This presentation is complemented by a companion document the “BU Strategic Plan Template Book which provides completeness and consistency of BU strategic plan submissions. These templates are not intend

4、ed to replace or constrain BU strategic thinking and should be adapted to reflect a particular BUs sectoral context as required,1,WHAT IS A BU STRATEGY?,A strong business concept that drives an integrated set of actions that creates value by:Creating products/services whose value exceeds the cost of

5、 providing themCapturing value from competitors, customers, distributors, suppliers, and producers of substitute products and services,2,RATIONALE FOR PROPOSED DEFINITION,A strong business concept that drives an integrated set of actions that creates value by:Creating products/services whose value e

6、xceeds the cost of providing themCapturing value from competitors, customers, distributors, suppliers, and producers of substitute products and services,6.Competitive,7.Externally oriented, customer driven,3.Gives consideration to all elements of the business system,3,COMMON ELEMENTS OF REAL-LIFE ST

7、RATEGIES,Vision,Where?,Strong businessconcept consisting of,How tocompete?,Developed high quality standards and excellent operational proceduresFocus on developing critical mass of stores and establishing market dominance,McDonalds experienced phenomenal success in globalization due to:Successfully

8、screening franchisees and a dedication to intense initial and ongoing trainingConsistent delivery of high-quality food and service around the worldHuge economies of scale and powerful supplier leverageCapitalized on “American appeal of McDonaldsSuccess in tailoring assortment mix to meet local needs

9、,“We want to be the worlds best quick-service restaurant experience,We will offer identical excellent quality across the world,Targeting a broad set of the urban population, increasingly offering a bundled product (i.e., meals) at a low price in major cities around the world,McDONALDS EXAMPLE,4,BU S

10、TRATEGY REVIEW INTERACTIONS,Highly interactive debate driven by fact-based understanding of environment and internal capabilities,How do you expect Competitor A to react?,How sustainable is your business model? Can it be easily duplicated?,How robust are your contingency plans?,How quickly can you s

11、hift your business emphasis to capture industry opportunities?,BU-CEO,5,BU STRATEGIC PLAN DEVELOPMENT,Industry dynamics and implications,Environmental and internal assessment,Competitive assessment,Internal assessment,What are the major changes in industry dynamics and resulting opportunities and ri

12、sks?,What are your competitive strengths and weaknesses?,How does your current business emphasis fit with industry opportunity and competitive landscape?,Strategy articulation,Strategic definition and implications,Strategic initiatives,Financial projections,What strategy will your BU pursue over the

13、 next 3 years?,What will be the impact of major strategic initiatives?,What are the expected financial returns of your strategy?,+,+,+,+,Risk/contingen-cies & strategic alternatives,What strategic alternatives have you considered?,+,6,INDUSTRY DYNAMICS AND IMPLICATIONS,Economics of demandBy segmentS

14、ubstitutes, ability to differentiateVolatility, cyclicalityEconomics of supplyProducer concentration and diversityImport competitionCapacity utilizationEntry/exit barriersCost structure (fixed and variable)Industry chain economicsCustomer and supplier bargaining power,What are the major changes in i

15、ndustry dynamics and the resultingopportunities and risks?,How is industry structure changing with respect to demand, supply, and industry chain economics? What are the resulting opportunities and risks?,What is the expected competitor conduct? What are the resulting opportunities and risks?,What ar

16、e the present and future external factors that could present new opportunities and risks?,Major industry competitor movesMarketing initiativesIndustry capacity changesM&As, divestituresVertical integration/disaggregationAlliances and partnershipsCost control and efficiency improvements,Impact and li

17、kelihood of major industry discontinuitiesChanges in regulation/government policyTechnological breakthroughs,Key question,Sub-questions,Issues to be considered*,*May or may not be applicable to all BUs,What industry are you competing in? What are the various segments in the industry?,Industry defini

18、tionIndustry segmentationDefinitionSizing,7,SEGMENT ANALYSIS,ILLUSTRATIVE,Industryboundaries,Segments,Industry segments,Relatively distinct sub-groupings within the industryMarket is relatively similar within the segment but different across segmentsDifferent industry dynamics may vary in importance

19、 in different segments,8,Producers,Industry,S,Technology breakthroughsChanges in government policy/regulationsDomesticInternational,Economics of demandAvailability of substitutesDifferentiability of productsRate of growthVolatility/cyclicalityEconomics of supplyConcentration of producersImport compe

20、titionDiversity of producersFixed/variable cost structureCapacity utilizationEntry/exit barriersIndustry chain economicsBargaining power of input suppliersBargaining power of customers,MarketingPricingVolumeAdvertising/promotionNew products/R&DDistributionCapacity changeExpansion/contractionEntry/ex

21、itAcquisition/merger/ divestitureVertical integrationForward/backward integrationVertical joint venturesLong-term contractsInternal efficiencyCost controlLogisticsProcess R&DOrganization effectiveness,FinanceProfitabilityValue creationTechnological progressEmployment objectives,Externalshocks,Feedba

22、ck,tructure,C,onduct,P,erformance,STRUCTURE-CONDUCT-PERFORMANCE (SCP) MODEL,9,1.Determinants of supplier powerDifferentiation of inputsSwitching costs of suppliers and firms in the industryPresence of substitute inputsSupplier concentrationImportance of volume to supplierCost relative to total purch

23、ases in the industryImpact of inputs on cost or differentiationThreat of forward integration relative to threat of backward integration by firms in the industry,2.Determinants of barriers to entryEconomies of scaleProprietary product differencesBrand identitySwitching costsCapital requirementsAccess

24、 to distributionAbsolute cost advantagesProprietary learning curveAccess to necessary inputsProprietary, low-cost product designGovernment policyExpected retaliation,5.Rivalry determinantsIndustry growthFixed (or storage) cost/value addedIntermittent overcapacityProduct differencesBrand identitySwit

25、ching costsConcentration and balanceInformational complexityDiversity of competitorsCorporate stakesExit barriers,3.Determinants of buying powerBargaining leverageBuyer concentration vs. firm concentrationBuyer volumeBuyer switching costs relative to firm switching costsBuyer informationAbility to b

26、ackward integrateSubstitute productsPull-through,4.Determinants of substitution threatRelative price performance of substitutesSwitching costsBuyer propensity to substitute,2. New entrants,3. Buyers,4. Substitutes,Intensity of rivalry,1. Suppliers,Price sensitivityPrice/total purchasesProduct differ

27、encesBrand IdentityImpact on quality perceptionBuyer profitsDecision makers incentives,5. Industry competitors,FORCES AT WORK FRAMEWORK,10,Opportunities/ThreatsHow are demand and supply expected to evolve?How do you expect the industry chain economics to evolve?What are the potential major industry

28、discontinuities?What competitor actions do you expect?,YOUR BU,SWOT ANALYSIS,CONVERT OPPORTUNITIES,BUILD ON STRENGTHS,NEUTRALIZE THREATS,ADDRESSWEAK-NESSES,Strengths/WeaknessesWhat are your BUs assets/competencies that solidify your competitive position?What are your BUs assets/competencies that wea

29、ken your competitive position?,Can be used as a thought starter for competitive analysis and internal assessment,11,SCP APPLIED TO LEXMARK,Rapidly changing technology, e.g., birth of portable, handheld, wireless computersRapidly changing customer preferencesPossibility of a paperless society given i

30、ncreasing environmental concern and rise of the internet,Economics of demandInkjet printers replacing laser in non-network environmentHigh price sensitivity; minimal opportunity for major product differentiationGrowth of laser and inkjet printer markets stable but dependent on PC sales and degree of

31、 replacementEconomics of supplyHP holds lions share of printer marketIndustry capacity exceeds market demandPresence of counterfeit and recycled product supply especially in consumablesHigh exit barriers due to asset intensityIndustry chain economicsBargaining power of suppliers low Bargaining power

32、 of distributors highLittle integration (forward or backward),MarketingManufacturers competing mainly on priceRetail dominant distribution channelAggressive development and release of new productsMoves to increase brand awareness via marketing campaignsCreative financing packagesInternal efficiency

33、Relentless drive to low cost manufacturingContinuous efforts to create more specialized features and/or functionsOthersEntry of PC and peripherals playersClamp down on counterfeit and recycled consumables suppliers,FinancePrice competition on printer hardware drives margins down and forces players to rely on profits from consumable products (good margins) and high volume capture on hardware,S,Exte