【正文】 t estimates were generated for each activity based on the operating margins of the top industry players. Truck Manufacturing Business Example Example Activity: Body Manufacturing Body Company Margins (Determining the Distribution of Profits for an Activity within a Value Chain) CHI Profit Pools 26 Other Freightliner Navistar Peterbilt Sterling Mack Truck Finance Body Manufacturing and Truck Assembly Parts and Service Chassis Manufacturing and Sales Top Down Bottoms Up ~$500$700MM $600MM 0% 20% 40% 60% 80% 100% Estimated Percent of Total Profit Pools Severe Service Vehicle Profit Pool (Reconciling the Estimates) Source: Bain analysis ? Chassis + Parts Services + Body Manufacturing + Finance ? the range approximated in the top down approach Final estimates for each value chain activity is within the range of our original total profit pool estimate Truck Manufacturing Business Example Total profit estimates from the top down approach were pared to those from the bottoms up approach. CHI Profit Pools 27 Other General Motors Volvo Kenworth Freightliner Navistar Peterbilt Sterling Mack Chassis Dealers Other Ottawa Advance Mixer Vactor Omaha Stahl Leach Knapheide McNeilus Heil Chassis Dealers Chassis Manufacturing Chassis Sales Body Manufacturing, Sales and Assembly Truck Finance Parts Service $305MM $35MM $60MM $55MM $85MM $60MM Total EBIT= $600MM 0% 20% 40% 60% 80% 100% Percent of Total Contribution in Each Activity Once the estimates were reconciled, the final profit map enabled the client to see which segments were the most profitable and which controlled the majority of profit pool. Estimated Margin: % % % % % Truck Manufacturing Business Example % Source: PBIR Profile of the . Truck Body Industry。 . Polk Registration Database。 Literature Search。 TEM Financials。 Prior Bain PLP analysis (7/96)。 Bain estimates Severe Service Vehicle Profit Map (1997) CHI Profit Pools 28 Dealer ownership would create access to high margin activities Chassis manufacturing and after market parts are most profitable activities High fragmentation and low profitability make body manufacturing unattractive Body joint ventures attractive if lead to greater chassis or after market share Dealers control access to high margin finance and parts and service Forward integration into bodies has not occurred Client should focus on gaining share in chassis manufacturing and/or capturing a greater percentage of truck finance and parts and service The profit map helped the client evaluate potential markets and their forward integration strategy. Truck Manufacturing Business Example Profit Pool Summary CHI Profit Pools 29 Agenda ? Profit Pools Concept ? Applications ? Profit Pool Steps ? Client Example ? Key Takeaways CHI Profit Pools 30 ?Profit pools are the total profits earned in an industry at all points along the industry’s value chain ?Companies that recognize the variability of profitability and can exploit the deepest pools will earn superior returns ?Building an understanding of profit pools puts strategic thinking on firm footing illustrates the current state of the industry provides a petitive advantage to the client helps develop innovative strategies ?There are many different sources of profit in any business ?Control of a choke points can influence the distribution of profits among petitors and more distant value chain participants Profit Pools Concept Key Takeaways (1 of 2) CHI Profit Pools 31 Profit Pool Steps Key Success Factors ?Key success factors include: taking a broad view of the value chain, examining the industry from different perspectives, building estimates from multiple perspectives, prioritizing focus to look at the largest and easiest ponents first, looking at relevant internal and external parables, gathering and analyzing data, and creative thinking ?There are four steps in developing a profit map: ?Define the pool ?Determine the size of the pool ?Estimate the distribution of profits ?Reconcile the estimates Key Takeaways (2 of 2) CHI Profit Pools 演講完畢，謝謝觀看！