【正文】 Ch11 Sustained Competitive Advantage AboveAverage Returns Returns in excess of what an investor expects to earn from other investments with similar risk Occurs when a firm develops a strategy that petitors are not simultaneously implementing Provides benefits which current and potential petitors are unable to duplicate Strategic Competitiveness Achieved when a firm successfully formulates and implements a valuecreating strategy Ch12 which are required for firms to achieve: AboveAverage Returns Strategic Competitiveness Sustained Competitive Advantage The Strategic Management Process Involves the full set of: Actions Commitments Decisions Ch13 The Strategic Management Process Chapter 3 Internal Environment Chapter 2 External Environment Strategic Intent Strategic Mission Strategy Formulation Strategy Implementation Chapter 4 BusinessLevel Strategy Chapter 5 Competitive Dynamics Chapter 6 CorporateLevel Strategy Chapter 8 International Strategy Chapter 9 Cooperative Strategies Chapter 7 Acquisitions amp。 Restructuring Chapter 10 Corporate Governance Chapter 11 Structure amp。 Control Chapter 12 Strategic Leadership Chapter 13 Entrepreneurship amp。 Innovation Strategic Inputs Feedback Strategic Outcomes Strategic Actions Strategic Competitiveness Above Average Returns Ch14 Competitive success is transient...unless care is taken to preserve petitive position Only 16 of the 100 largest . panies at the start of the 20th century are still identifiable today! In a recent year, 44,367 businesses filed for bankruptcy and many more . businesses failed Challenge of Strategic Management Ch15 Best Stocks of the Decade % Ch a ng e 1 9 9 0 9 9 Ci sco 12 4, 8 25 % AOL 81 ,4 00 % D ell 72 ,4 00 % EM C 68 ,3 14 % C M GI 57 ,1 91 % So lectr o n 21 ,2 33 % JD S U niph ase 18 ,7 55 % Tell ab s 16 ,9 21 % C lear C ha n ne l Co m m un ic at ions 13 ,7 00 % Be st Bu y 9, 37 6% M ax im In te g r at e d 8, 73 5% Ve r itas S o f tw are 8, 53 6% C ha r les Schw ab 7, 98 5% M ic r oso ft 7, 48 3% Su n M ic r osy stem s 7, 16 3% Sa f eg u ard Scie nt i f ic s 6, 81 6% Qlog ic 6, 76 4% Y ah oo 6, 74 4% Qua lc o m m 6, 38 8% Ap plie d M at eri als 6, 35 0%Challenge of Strategic Management The goals of achieving strategic petitiveness and earning aboveaverage returns are challenging The performance of some panies more than meets strategic management39。s challenge Ch16 ? Rapid technological changes ? Rapid technology diffusions ? Dramatic changes in information and munication technologies ? Increasing importance of knowledge Fundamental nature of petition is changing The pace of change is relentless.... and increasing Traditional industry boundaries are blurring, such as... ? Computers ? Telemunications 21st Century Competitive Landscape Ch17 The global economy is changing ? People, goods, services and ideas move freely across geographic boundaries ? New opportunities emerge in multiple global markets ? Markets and industries bee more internationalized Traditional sources of petitive advantage no longer guarantee success New keys to success include: ? Flexibility ? Innovation ? Speed ? Integration 21st Century Competitive Landscape 199 9 199 8 C o u n t r y C o mp etit i v enessInd ex 1 99 9C o mp etit i v enessInd ex 1 99 81 1 Singa pore 2 3 U nited S tat es 3 2 H ong K on g 4 6 T aiw an 5 5 C anad a 6 8 Sw it z erl and 7 10 Lux em b ourg 8 4 U nited Ki ngd om 9 7 N ethe r lan ds 10 11 Ir eland 11 15 F inl and 12 14 Austr ali a 13 13 N ew Zeal and 14 12 Japa n 15 9 N orw a y 16 17 M alay si a 17 16 D enm ark 18 30 Icel an d 19 23 Sw eden 20 20 Austr ia 21 18 C hil e 22 19 Kor ea 23 22 F r ance 24 27 Belgi u m 25 24 Ger m a ny 26 25 Spain Country Competitiveness Rankings A country’s petitiveness is achieved through the accumulation of individual firms’ strategic petitiveness in the global economy Achieving improved petitiveness allows a country39。s citizens to have a higher standard of living 21st Century Competitive Landscape Ch19 Alternative Models of Superior Returns ResourceBased Model Industrial Organization Model The External Environment An Attractive Industry Strategy Formulation Assets and Skills Strategy Implementation Superior Returns Resources Capability Competitive Advantage An Attractive Industry Strategy Implementation Superior Returns Ch110 I/O Model of Superior Returns The Industrial Organization model suggests that aboveaverage returns for any firm are largely determined by characteristics outside the firm. This model largely focuses on industry structure or attractiveness of the external environment rather than internal characteristics of the firm. Ch111 Action required: External Environment General Environment Industry Environment Competitive Environment Study the external environment, especially the industry environment. I/O Model of Superior Returns Ch112 External Environment General Environment Industry Environment Competitive Environment An Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Action required: Locate an industry with high potential for aboveaverage returns. I/O Model of Superior Returns Ch113 External Environment General Environment Industry Environment Competitive Environment Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Action required: Identify strategy call