【正文】 Slides (1 of 2) 0%5%10%15%20%25%30% 1 2 5D u n s te rElio tC ur rierC abo tProfitability $1 50M MR ev enu eNormative band (Predicted potential profitability) Relative Market Share Higher accumulated experience is positively correlated with RMS Higher accumulated experience provides an opportunity for lower costs and higher profits RMS is a proxy for accumulated experience. RMS is positively correlated with profitability Accumulated Experience RMS RMS Profitability Accumulated Experience Cost per unit ROS/RMS Graph ROS/RMS Relationship ROS/RMS Components ROS/RMS Steps Define the business Calculate profitability Calculate relative market shares Draw normative band Determine action implications Key Success Factors ? Determine the economic boundaries of the business ? Identify relevant petitors ? Achieve parability across petitors ? Include any shared experience ? If business is local or regional, weight market shares ? Calculate the normative band using regression analysis ? Determine if strategic or operational improvements are required What is measured: How it is measured? Scale: Profitability (yaxis) RMS (xaxis) Normative band Current profitability Accumulated experience and strategic position Range of predicted profitability – return on capital employed – return on equity – return on assets – return on sales* Relative market share (RMS) Plus and minus one standard deviation from regression line Linear Logarithmic** 48 ROS/RMS BOS Takeaway Slides (2 of 2) Action Implications Calculating RMS Calculating Profitability Other Bain Tools Examples: Suggested actions: Peabody is below the normative band。 its profitability is low given its relative market share ? Cost reduction strategy Blandford can improve its profitability if it increases its market share and captures experience benefits ? Growth strategy ? Mergers and acquisitions 0%5%10%15%20%25%30% 1 2 5 10LeeW es t v ie wPeab odyW al nutROSR M SOperational Improvement 0%3%5%8%10%13% 1 2 5 10ChesterB landf or dH en ric oROSR M SStrategic Positioning ROCE (Return on capital employed) ROE (Return on equity) Disadvantages: Difficult to make parable across panies Difficult to make parable across panies Not always clear which asset measures to use (Book value? Before depreciation or after?) ROA (Return on assets) Advantages: Best proxy for return on investments Best proxy for return on shareholders’ investments Easy to collect parable measures across petitors Bain example: Drug store chains Retail department stores Beverage industry Calculation:* Net ine after taxes Average equity After tax operating profit Average assets Net ine after tax Sales ROS (Return on sales) Eliminates the effects of how assets are financed Results are sometimes unclear when some petitors mand a large price premium Net ine after taxes Capital employed Building products Leader’s RMS: Any other player’s RMS: Market leader’s units sold 2 player’s units sold Other player’s units sold Market leader’s units sold It is preferable to use units instead of revenue since we believe accumulated units of experience drive the potential for higher relative profitability Example industries Bain tool Key profit driver ? Customer loyalty ? Percent of category which is premium priced and relative market share of category ? Speed of product development and release Retention High road/Low road Timetomarket ? Auto insurance ? Credit cards ? Advertising ? Consumer goods – toothpaste – readytoeatcereals ? Technology – semiconductors ? Retail fashion – athletic gym shoes 49 ROS/RMS BOS 靜夜四無鄰，荒居舊業(yè)貧。 , March 12, 2023 雨中黃葉樹，燈下白頭人。 04:08:1904:08:1904:083/12/2023 4:08:19 AM 1以我獨沈久，愧君相見頻。 :08:1904:08Mar2312Mar23 1故人江海別，幾度隔山川。 04:08:1904:08:1904:08Sunday, March 12, 2023 1乍見翻疑夢，相悲各問年。 :08:1904:08:19March 12, 2023 1他鄉(xiāng)生白發(fā)，舊國見青山。 2023年 3月 12日星期日 上午 4時 8分 19秒 04:08: 1比不了得就不比，得不到的就不要。 2023年 3月 上午 4時 8分 :08March 12, 2023 1行動出成果，工作出財富。 2023年 3月 12日星期日 4時 8分 19秒 04:08:1912 March 2023 1做前，能夠環(huán)視四周；做時，你只能或者最好沿著以腳為起點的射線向前。 上午 4時 8分 19秒 上午 4時 8分 04:08: 沒有失敗，只有暫時停止成功！。 , March 12, 2023 很多事情努力了未必有結(jié)果，但是不努力卻什么改變也沒有。 04:08:1904:08:1904:083/12/2023 4:08:19 AM 1成功就是日復(fù)一日那一點點小小努力的積累。 :08:1904:08Mar2312Mar23 1世間成事，不求其絕對圓滿，留一份不足，可得無限完美。 04:08:1904:08:1904:08Sunday, March 12, 2023 1不知香積寺，數(shù)里入云峰。 :08:1904:08:19March 12, 2023 1意志堅強的人能把世界放在手中像泥塊一樣任意揉捏。 2023年 3月 12日星期日 上午 4時 8分 19秒 04:08: 1楚塞三湘接，荊門九派通。 2023年 3月 上午 4時 8分 :08March 12, 2023 1少年十五二十時，步行奪得胡馬騎。 2023年 3月 12日星期日 4時 8分 19秒 04:08:1912 March 2023 1空山新雨后，天氣晚來秋。 上午 4時 8分 19秒 上午 4時 8分 04:08: 楊柳散和風(fēng)，青山澹吾慮。 , March 12, 2023 閱讀一切好書如同和過去最杰出的人談話。 04:08:1904:08:1904:083/12/2023 4:08:19 AM 1越是沒有本領(lǐng)的就越加自命不凡。 :08:1904:08Mar2312Mar23 1越是無能的人，越喜歡挑剔別人的錯兒。 04:08:1904:08:1904:08Sunday, March 12, 2023 1知人者智，自知者明。勝人者有力，自勝者強。 :08:1904:08:19March 12, 2023 1意志堅強的人能把世界放在手中像泥塊一樣任意揉捏。 2023年 3月 12日星期日 上午 4時 8分 19秒 04:08: 1最具挑戰(zhàn)性的挑戰(zhàn)莫過于提升自我。 2023年 3月 上午 4時 8分 :08March 12, 2023 1業(yè)余生活要有意義，不要越軌。 2023年 3月 12日星期日 4時 8分 19秒 04:08:1912 March 2023 1一個人即使已登上頂峰，也仍要自強不息。 上午 4時 8分 19秒 上午 4時 8分 04:08: MOMODA POWERPOINT Lorem ipsum dolor sit, eleifend nulla ac, fringilla purus. Nulla iaculis tempor felis amet, consectetur adipiscing elit. Fusce id urna blanditut cursus. 感 謝 您 的 下 載 觀 看 專家告訴