【正文】 of direct channels and more sophisticated customers External factors regulations ? Key regulatory changes allow new products in the German market –Fund of funds* –Index funds* –AS funds* (old age provision investment funds) ? 4th Act of Financial Markets Improve ment is about to e and is supposed to imply, ., a heavier use of deriva tives 24 000624FT_262414_777_v3_i FORCES AT WORK DER DEUTSCHE HOCHSCHULMARKT: AN EXAMPLE Demand: Students ? ? ? ? ? ? Supply: Existing schools ? ? ? ? New entrants ? ? ? Environment ? ? ? Increasing petition 25 000624FT_262414_777_v3_i FORCES AT WORK DER DEUTSCHE HOCHSCHULMARKT Students ?Students demand better education ?Less theoretical work ?Higher mobility ?Reasonable study time Existing schools ?Increasing number of international programs ?Introduction of rankings ?More specialization, new subjects ?More teachers from panies ?Necessity for internships New entrants ?Private business schools ?Postgraduate studies ?Berufsakademien Environment ?War for talent ?International petition ?Good language knowledge Increasing petition 26 000624FT_262414_777_v3_i TOOLS AND FRAMEWORKS: THE ELEVATOR TEST Situation You meet your new CEO. You have five minutes to inform him about the pany. Which areas would you cover? 27 000624FT_262414_777_v3_i TOOLS AND FRAMEWORKS: 7S – DESCRIPTION OF A COMPANY Style Structure Staff Strategy Systems Skills Shared values 28 000624FT_262414_777_v3_i FRAMEWORKS: CORE COMPETENCES (SWOTANALYSIS) Competitive advantage Internal analysis Weaknesses Strengths External analysis Threats Opportunities Source: Harenstein, Billing, Schawel, Grein 1999 29 000624FT_262414_777_v3_i Market to book Book value Isoquants: = constant market capitalization Specialist: control through performance Shaper: Total control Integrator: Control through size Incumbent: Possible lack of control FRAMEWORKS: STRATEGIC CONTROL MAP 30 000624FT_262414_777_v3_i 012345670 5 10 15 20 25 30Book equity Market to book Lloyds/TSB Unicredito Italiano SpA UBS/SBC BNP/Paribas Deutsche Bank (incl. BT) BSCH Hypo Vereinsbank 10 bn 30 bn 50 bn Oct. 1999 1995 Market capitalization STRATEGIC CONTROL MAP: BANKING EXAMPLE 31 000624FT_262414_777_v3_i TOOLS AND FRAMEWORKS: UNDERSTANDING THE BUSINESS SYSTEM ?Source ?Patents ?Product/ process choices ?Function ?Physical characteristics ?Aesthetics ?Quality ?Integration ?Raw materials ?Capacity ?Location ?Procurement ?Parts production ?Assembly ?Prices ?Advertising ?Sales force ?Package ?Brand ?Channels ?Integration ?Inventory ?Transport Technology Product design Manufacturing Marketing Distribution Service ?Warranty ?Speed ?Captive/ independent ?Prices Business system 32 000624FT_262414_777_v3_i MANAGEMENT CONSULTING: SELECTED METHODS ?Rankings ?Frameworks ?Benchmarking ?Balanced scorecards 33 000624FT_262414_777_v3_i BENCHMARKING Why ?Broad perspective ?Increase petitor knowledge ?Stimulate creativity Future market requirements External benchmarking (worldclass benchmarking) Internal benchmarking Define objectives and consider ?Vision ?Courage ?Culture ?Capabilities ?Acceptance 34 000624FT_262414_777_v3_i THE SYSTEMATIC APPROACH TO WORLDCLASS BENCHMARKING Establish program for change Choice of processes which have to be analyzed Choice of metrics and methods Choose parable processes for benchmarking Integrate/ analysis 35 000624FT_262414_777_v3_i EXTERNAL BENCHMARKING: ONE EXAMPLE ?The CEO of pany x thinks that his pany is not very good in dealing with its suppliers. He asks you to evaluate the supplier management through a benchmarking exercise. You should e up with suggestions for further analyses Task Hints ?What determines the success of the supply management (speed, quality, …)? ?How can you measure these relationships in order to make them parable across panies? 36 000624FT_262414_777_v3_i SUPPLIER MANAGEMENT BEST PRACTICE – EXAMPLES Benchmark Costs Percent Purchasing officer/total staff EXAMPLE Time needed in weeks Quality – supplies Percent 40502025Purchasing officer/ USD 1 billion purchase Choice of supplier 2 , 02 0 , 00 , 53 , 0Lead time supplier Delays 201022Unsatisfactory products 37 000624FT_262414_777_v3_i ADVANTAGES AND DISADVANTAGES OF SELECTED BENCHMARKING APPROACHES Future market requirements External benchmarking Internal benchmarking Advantages Disadvantages ?Forward looking ?Consistent with strategy ?Reflects customer needs ?Difficult to quantify ?Broad perspective ?Easy to convince ?Creative approach ?New ideas ?Data intensive ?Danger of imitation instead of innovation ?Comparability needs to be guaranteed ?Easy to implement ?Competition within pany ?Good results for top performing pany ?Small (biased) sample ?Internal conflicts 38 000624FT_262414_777_v3_i VORTEILE DES BENCHMARKING ?Verbesserte Einsch228。sung wichtigen Fragen mit den notwendigen Analysen und stellt damit fokussierte Teamarbeit sicher. Die Fragen werden entweder aus den Endpunkten des deduktiven oder Hypothesenbaums oder den Einzelelementen des Ja/NeinBaums abgeleitet. Mit den klar definierten Analysen l228。pft die f252。glich sind. Dieser Ansatz ist fokussierter als der deduktive Baum und schr228。tze (Endpunkte), die Haupthebel zu identifizieren und damit die weiteren Analysen zu priorisieren. – Der Hypothesenbaum eig sich, wenn man einigerm