6公司層策略-wenkub
2023-02-06 07:20:43 本頁面
【正文】 sification Unrelated 70% of revenue es from the dominant business, and there are no mon links between businesses Very High Levels of Diversification 8 ATT的縮小規(guī)模 ? ATT曾歷經(jīng)兩次分割案 – 1984年非自願性分割 – 第一次分割後持續(xù)購併成長 – 高估整合的優(yōu)點與忽略多角化後的經(jīng)營複雜性 – 1995年自願分割 ? 分割前的公司旗下有 – 通訊事業(yè) – 電腦事業(yè) – 設備事業(yè) 9 ? 電腦事業(yè) – 由購併 NCR開始 – 虧損連連 ,達 80億 ? 設備事業(yè)的顧客與通訊事業(yè)間的競爭衝突 ? 美國政府放寬對通訊事業(yè)的管制 ? 公司決定縮小經(jīng)營範疇 ,專心於核心事業(yè) ATT的縮小規(guī)模 10 多角化企業(yè)的演化歷程 單一事業(yè) 整合策略 多角化策略 國際化策略 國際化策略 多角化策略 早期 後期 11 Reasons for Diversification Reasons to Enhance Strategic Competitiveness ? Economies of scope(相關多角化 ) ? Market power (相關多角化 ) ? Financial economics(不相關多角化 ) Incentives Resources Managerial Motives 12 Incentives with Neutral Effects on Strategic Competitiveness ? Antitrust regulation ? Tax laws ? Low performance ? Uncertain future cash flows ? Firm risk reduction Incentives Resources Managerial Motives Reasons for Diversification 13 Resources with varying effects on value creation and strategic petitiveness ? Tangible resources ? financial resources ? physical assets ? Intangible resources ? tacit knowledge ? customer relations ? image and reputation Incentives Resources Managerial Motives Reasons for Diversification 14 Managerial Motives (Value Reduction) ? Diversifying managerial employment risk ? Increasing managerial pensation Incentives Resources Managerial Motives Reasons for Diversification 15 Valuecreating Strategies of Diversification: Operational and Corporate Readiness Related Constrained Diversification Vertical Integration (Market Power) Unrelated Diversification (Financial Economies) Both Operational and Corporate Relatedness (Rare Capability and can Create Diseconomies of Scope) Related Linked Diversification (Economies of Scope) Corporate Relateness: Transferring Skills into Businesses Through Corporate Headquarters Low High Sharing: Operational Relatedness Between Businesses Low High 16 Adding Value by Diversification Diversification most effectively adds value by either of two mechanisms: – Economies of scope: cost savings attributed to transferring the capabilities and petencies developed in one business to a new business – Market power: when a firm is able to sell its products above the existing petitive level or reduce
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