企業(yè)股份單分析(完整版)
【正文】 ns of growth rate and relative market share are affected by many factors ?Vertical integration is profitable for some business only ?Most factors that boost ROI also contribute to value Examples of Application of some of the Principles of PIMS in ASPAC ?Pursue of product quality ?Australian Quality Council ?Hong Kong Awards for Industry (Quality cat.) ?Japan Quality Award ?Malaysia’s Prime Minister39。 ) ?High investment reduces profitability ? The acquisition of new machinery caused a reduction in SM Summit Holdings gross margin SM (Source: SM Summit Holding’s Annual Report 2023) Limitations of PIMS ?Key marketshare variable is sensitive to productmarket definition ?Other variables depend on subjective judgements ?Inherent limitations of crosssection analysis ?Sample biased toward larger firms that are industry leaders GE(General Electric)/McKinsey MultiFactor Matrix ?Originally developed by GE’s planners drawing on McKinsey’s approaches ?Market attractiveness is based on as many relevant factors as are appropriate in a given context ?Businessposition assessment also made on a many factors ?SBU needs to be rated on each factor GE Multifactor Portfolio Matrix Industry Attractiveness Business Strengths High High Medium Medium Low Low Invest/Grow Selectivity /earnings Harvest /Divest Protect Position Invest to Build Build selectively Build selectively Selectively manage for earnings Li
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