analisis strategi dan pilihan bab 6. objektif bab selepas mengikuti bab ini, anda seharusnya boleh:...
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ANALISIS STRATEGI DAN PILIHAN
BAB 6
OBJEKTIF BAB
• Selepas mengikuti bab ini, anda seharusnya boleh:1. Menerangkan tiga tingkat rangka kerja untuk memilih alternatif-
alternatif strategi yang sesuai.2. Menerangkan bagaimana untuk membangunkan Matriks
TOWS, Matriks SPACE, Matriks BCG, Matriks IE dan Matriks QSPM.
3. Mengenal pasti hal-hal gelagat, politik, etika, dan tanggungjawab sosial dalam analisis strategi dan pilihan.
4. Mengetahui peranan intuisi dalam analisis strategik dan pilihan.5. Mengetahui peranan budaya organisasi dalam analisis strategik
dan pilihan.6. Mengetahui peranan Ahli Lembaga Pengarah dalam memilih
alternatif-alternatif strategi.
PENGENALAN
• Analisis strategi dan pilihan melibatkan pembuatan keputusan yang subjektif berdasarkan maklumat yang objektif.
ANALISIS STRATEGI DAN PILIHAN
• Proses Penjanaan dan Pemilihan Strategi– Proses-proses penjanaan dan pemilihan strategi melibatkan
pengenalpastian dan penilaian strategi-strategi alternatif.– Strategi-strategi alternatif yang dicadangkan perlulah
disenarai dan digredkan seperti berikut: • 1 = tidak boleh dilaksanakan, • 2 = tidak mungkin boleh dilaksanakan, • 3 = mungkin boleh dilaksanakan dan • 4 = boleh dilaksanakan.
– Proses ini boleh memberi keputusan kepada pemilihan strategi yang terbaik.
RANGKA KERJA PENGGUBALAN STRATEGI YANG KOMPREHENSIF
• Teknik penggubalan strategi boleh diintegrasikan kepada tiga peringkat1. TINGKAT INPUT2. TINGKAT PEMADANAN3. TINGKAT PEMBUATAN KEPUTUSAN
• Rangka kerja pembuatan keputusan Rujuk Rajah 6.1 muka surat 97
Ch 6 -6
TINGKAT INPUT
• Prosedur-prosedur untuk menggunakan Matriks EFE, Matriks Kompetitif dan Matriks IFE telah dibincangkan dalam bab sebelumnya.
TINGKAT PEMADANAN
• Di dalam tingkat pemadanan, – Matriks TOWS, – Matriks SPACE, – Matriks BCG, Matriks IE dan – Matriks Grand Strategy
Matriks TOWS
• Matriks TOWS menunjukkan bagaimana gabungan faktor luaran (peluang dan ancaman) dengan faktor dalaman syarikat (kekuatan dan kelemahan) boleh mewujudkan strategi-strategi yang baru.
• Ia boleh membantu pengurus dalam membangunkan empat jenis strategi iaitu – strategi SO, – strategi WO, – strategi ST dan – strategi WT.
Matriks TOWS
• Strategi SO menggunakan faktor-faktor yang terdapat dalam kekuatan dalaman syarikat untuk merebut peluang faktor-faktor luaran.
• Contohnya, pelaksanaan AFTA 2003 boleh memberi peluang kepada syarikat-syarikat untuk meluaskan pasarannya ke luar negara. Apabila sesebuah syarikat mempunyai kekuatan dari segi kewangan syarikat yang kukuh, maka strategi penembusan pasaran boleh diaplikasikan oleh syarikat tersebut.
Matriks TOWS
• Strategi WO menggunakan peluang-peluang luaran yang ada untuk mengatasi kelemahan dalaman syarikat.
• Contohnya, Internet boleh memberi peluang kepada syarikat meluaskan promosi dan pasarannya serta secara tidak langsung membolehkan syarikat dikenali di seluruh dunia (peluang luaran). Apabila sesebuah organisasi mempunyai kelemahan dari segi promosi produk dan perkhidmatannya (kelemahan dalaman), maka strategi pemasaran menerusi penggunaan internet boleh dilaksanakan oleh syarikat.
Matriks TOWS
• Strategi ST, firma bolehlah menggunakan kekuatan dalaman syarikat untuk mengelak atau meminimumkan ancaman faktor luaran.
• Contohnya, sekiranya sesebuah organisasi mempunyai kekuatan dari segi modal dan sumber manusia (kekuatan dalaman) dan pesaing-pesaing dalam industri adalah kompetitif (ancaman luaran), maka organisasi tersebut bolehlah melakukan strategi pakatan strategik dengan pesaingnya.
Matriks TOWS
• Strategi WT adalah lebih kepada strategi defensif yang mana firma perlu meminimumkan kelemahan dan mengelakkan ancaman oleh faktor-faktor luaran.
• Contohnya, apabila sesebuah organisasi mempunyai kapasiti pengeluaran yang berlebihan (kelemahan dalaman) dan tahap industri organisasi tersebut sedang mengalami kejatuhan dari segi jualan dan keuntungan (ancaman luaran), maka strategi kepelbagaian konsentrik bolehlah diaplikasikan oleh organisasi tersebut.
Matriks TOWS
• Lapan langkah yang terlibat dalam penyediaan Matriks TOWS (Rujuk Rajah 6.2 ms 100)1. Senaraikan peluang luaran syarikat2. Senaraikan ancaman luaran syarikat3. Senaraikan kekuatan dalaman syarikat4. Senaraikan kelemahan dalaman syarikat5. Padankan kekuatan dalaman dengan peluang
luaran dan rekodkan strategi yang dicadangkan di dalam kotak Strategi SO
Matriks TOWS
• Lapan langkah yang terlibat dalam penyediaan Matriks TOWS6. Padankan kelemahan dalaman dengan peluang luaran
dan kemudian rekodkan strategi yang dicadangkan ke dalam kotak Strategi WO
7. Padankan kekuatan dalaman syarikat dengan ancaman luaran dan rekodkan cadangan strategi di dalam kotak Strategi ST
8. Padankan kelemahan dalaman syarikat dengan ancaman luaran dan rekodkan cadangan strategi di dalam kotak Strategi WT.
Ch 6 -16
SWOT MatrixStrengths – S
List Strengths
Weaknesses – W
List Weaknesses
Opportunities – O
List Opportunities
SO Strategies
Use strengths to take advantage of opportunities
WO Strategies
Overcoming weaknesses by taking advantage of
opportunities
Threats – T
List Threats
ST Strategies
Use strengths to avoid threats
WT Strategies
Minimize weaknesses and avoid threats
Ch 6 -17
SPACE Matrix
Strategic Position & Action Evaluation Matrix
Aggressive
Conservative
Defensive
Competitive
Ch 6 -18
SPACE Matrix
Two Internal Dimensions
Financial Strength (FS)
Competitive Advantage (CA)
Ch 6 -19
SPACE Matrix
Two External Dimensions
Environmental Stability (ES)
Industry Strength (IS)
Ch 6 -20
SPACE Factors
Environmental Stability (ES)
Technological changesRate of inflationDemand variabilityPrice range of competing productsBarriers to entryCompetitive pressure
Price elasticity of demandEase of exit from market Risk involved in business
Financial Strength (FS)
Return on investmentLeverageLiquidityWorking capitalCash flowInventory turnoverEarnings per sharePrice earnings ratio
External Strategic PositionInternal Strategic Position
Ch 6 -21
SPACE Factors
Industry Strength (IS)
Growth potentialProfit potentialFinancial stabilityTechnological know-howResource utilizationEase of entry into marketProductivity, capacity utilization
Competitive Advantage (CA)
Market shareProduct qualityProduct life cycleCustomer loyaltyCompetition’s capacity utilizationTechnological know-howControl over suppliers & distributors
External Strategic PositionInternal Strategic Position
Ch 6 -22
Steps to Developing a SPACE Matrix
1. Select a set of variables to define FS, CA, ES, and IS.
2. Assign a numerical value:1. From +1 to +6 to each FS & IS dimension2. From -1 to -6 to each ES & CA dimension
3. Compute an average score for each FS, CA, ES, and IS.
Ch 6 -23
Steps to Developing a SPACE Matrix
4. Plot the average score on the appropriate axis.
5. Add the two scores on the x-axis and plot the point. Add the two scores on the y-axis and plot the point. Plot the intersection of the new xy point.
6. Draw a directional vector from the origin through the new intersection point.
Ch 6 -24
Ch 6 -25
Strategy-Formulation Analytical Framework
SWOT Matrix
SPACE Matrix
BCG Matrix
IE Matrix
Grand Strategy Matrix
Stage 2:The Matching Stage
Ch 6 -26
BCG Matrix
Boston Consulting Group Matrix
Enhances multidivisional firm in formulating strategies
Autonomous divisions = business portfolio
Divisions may compete in different industries
Focus on market-share position & industry growth rate
Ch 6 -27
BCG Matrix
Relative Market Share Position
Ratio of a division’s own market share in an industry to the market share held by the largest rival firm in that industry
Ch 6 -28
Ch 6 -29
BCG Matrix
Question Marks
Low relative market share, competes in high-growth industry
Cash needs are high
Case generation is low
Decision to strengthen (intensive strategies) or divest
Ch 6 -30
BCG Matrix
Stars
High relative market share and high growth rate Best long-run opportunities for growth & profitability
Substantial investment to maintain or strengthen dominant position
Integration strategies, intensive strategies, joint ventures
Ch 6 -31
BCG Matrix
Cash Cows
High relative market share, competes in low-growth industry
Generate cash in excess of their needs
Milked for other purposes
Maintain strong position as long as possible Product development, concentric diversification
If weakens – retrenchment or divestiture
Ch 6 -32
BCG Matrix
Dogs
Low relative market share, competes in slow or no market growth
Weak internal & external position
Liquidation, divestiture, retrenchment
Ch 6 -33
Strategy-Formulation Analytical Framework
SWOT Matrix
SPACE Matrix
BCG Matrix
IE Matrix
Grand Strategy Matrix
Stage 2:The Matching Stage
Ch 6 -34
The Internal-External Matrix
• Positions an organization’s various divisions in a nine-cell display
• Similar to BCG Matrix except the IE Matrix:– Requires more information about the divisions– Strategic implications of each matrix are different
Ch 6 -35
Ch 6 -36
IE Matrix
• Based on two key dimensions– The IFE total weighted scores on the x-axis– The EFE total weighted scores on the y-axis
• Divided into three major regions– Grow and build – Cells I, II, or IV– Hold and maintain – Cells III, V, or VII– Harvest or divest – Cells VI, VIII, or IX
Ch 6 -37
Ch 6 -38
Strategy-Formulation Analytical Framework
SPACE Matrix
BCG Matrix
IE Matrix
Stage 2:The Matching Stage
SWOT Matrix
Grand Strategy Matrix
Ch 6 -39
Grand Strategy Matrix
Tool for formulating alternative strategies
Based on two dimensions Competitive position Market growth
Ch 6 -40
Quadrant IV1. Concentric diversification2. Horizontal diversification3. Conglomerate diversification4. Joint ventures
Quadrant III1. Retrenchment2. Concentric diversification3. Horizontal diversification4. Conglomerate diversification5. Liquidation
Quadrant I1. Market development2. Market penetration3. Product development4. Forward integration5. Backward integration6. Horizontal integration7. Concentric diversification
Quadrant II1. Market development2. Market penetration3. Product development4. Horizontal integration5. Divestiture6. Liquidation
RAPID MARKET GROWTH
SLOW MARKET GROWTH
WEAK COMPETITIVE
POSITION
STRONGCOMPETITIVE
POSITION
Ch 6 -41
Grand Strategy Matrix
Excellent strategic position
Concentration on current markets/products
Take risks aggressively when necessary
Quadrant I
Ch 6 -42
Grand Strategy Matrix
Evaluate present approach
How to improve competitiveness
Rapid market growth requires intensive strategy
Quadrant II
Ch 6 -43
Grand Strategy Matrix
Compete in slow-growth industries
Weak competitive position
Drastic changes quickly
Cost & asset reduction (retrenchment)
Quadrant III
Ch 6 -44
Grand Strategy Matrix
Strong competitive position
Slow-growth industry
Diversification to more promising growth areas
Quadrant IV
Ch 6 -45
Strategy-Formulation Analytical Framework
Stage 3:The Decision Stage
Quantitative StrategicPlanning Matrix
(QSPM)
Ch 6 -46
QSPM
Technique designed to determine the relative attractiveness of feasible alternative actions
Quantitative Strategic Planning Matrix
Ch 6 -47
QSPM
Key Internal FactorsManagementMarketingFinance/AccountingProduction/OperationsResearch and DevelopmentComputer Information Systems
Strategy 3Strategy 2Strategy 1WeightKey External FactorsEconomyPolitical/Legal/GovernmentalSocial/Cultural/Demographic/EnvironmentalTechnologicalCompetitive
Strategic Alternatives
Ch 6 -48
Steps to Develop a QSPM
1. Make a list of the firm’s key external opportunities/threats and internal strengths/weaknesses in the left column.
2. Assign weights to each key external and internal factor.
3. Examine the Stage 2 (matching) matrices, and identify alternative strategies that the organization should consider implementing.
Ch 6 -49
Steps to Develop a QSPM
4. Determine the Attractiveness Scores.5. Compare the Total Attractiveness Scores.6. Compute the Sum Total Attractiveness Score.
Ch 6 -50
QSPM
Requires intuitive judgments & educated assumptions
Only as good as the prerequisite inputs
Limitations
Ch 6 -51
QSPM
Sets of strategies considered simultaneously or sequentially
Integration of pertinent external & internal factors in the decision-making process
Advantages
Ch 6 -52
Cultural Aspects of Strategy Choice
Successful strategies depend on the degree of consistency with the firm’s culture
Organization Culture
Ch 6 -53
Politics of Strategy Choice
Management hierarchy
Career aspirations
Allocation of scarce resources
Politics in Organizations
PERANAN AHLI LEMBAGA PENGARAH
1. Mengawal dan Memantau Pihak Pengurusan
2. Kepatuhan Perundangan3. Perhatian terhadap Kepentingan
Stakeholder4. Pembangunan Hak-Hak Pemegang Saham
PERANAN AHLI LEMBAGA PENGARAH
• Mengawal dan Memantau Pihak Pengurusan1. Memilih Ketua Pegawai Eksekutif (CEO)2. Meluluskan pemilihan ahli-ahli pasukan pengurusan3. Memastikan pengurusan yang cekap dan efisien4. Menilai prestasi pihak pengurusan5. Menentukan tahap gaji dan faedah-faedah sampingan
pihak pengurusan6. Menjamin integriti pihak pengurusan menerusi proses
audit yang berterusan7. Membuat penilaian terhadap polisi yang hendak
dilaksanakan oleh pihak pengurusan
PERANAN AHLI LEMBAGA PENGARAH
• Kepatuhan Perundangan1. Sentiasa peka dan prihatin terhadap perubahan
aspek perundangan yang baru2. Memastikan keseluruhan aspek organisasi
mematuhi keperluan3. Memilih pengarah-pengarah yang baru4. Meluluskan belanjawan modal5. Meluluskan pinjaman, pengisuan saham-saham
baru, bon dan lain-lain
PERANAN AHLI LEMBAGA PENGARAH
• Perhatian terhadap Kepentingan Stakeholder1. Memantau kualiti produk2. Membangunkan kualiti kehidupan para pekerja3. Menilai dan menggubal polisi-polisi serta amalan
buruh4. Memelihara hubungan dengan masyarakat5. Mengekalkan reputasi dan imej syarikat yang baik6. Menjalankan kerja-kerja sosial dan mewujudkan
hubungan yang baik dengan pihak kerajaan
PERANAN AHLI LEMBAGA PENGARAH
• Pembangunan Hak-Hak Pemegang Saham1. Memelihara ekuiti pemegang saham2. Merangsang pertumbuhan korporat3. Memastikan adanya wakil-wakil pemegang saham4. Sentiasa memberikan maklumat kepada pemegang
saham sama ada menerusi surat, laporan-laporan dan juga mesyuarat
5. Mengisytiharkan dividen yang difikirkan sesuai6. Menjamin survival korporat
Ch 6 -59
Governance Issues
Control & oversight over management
Adherence to legal prescriptions
Consideration of stakeholder interests
Advancement of stockholder rights
Board of Directors Roles & Responsibilities
Ch 6 -60
Global PerspectiveCorporate Tax Rates Worldwide – Europe is Lowest
• Lowest corporate tax rates reside in Europe and European countries
• Average tax rate in EU countries is 26%• Besides tax rates, large markets and affluent markets attract
new businesses• Taxes can be used to reward
or penalize companies for locating locally or moving overseas
Ch 6 -61
Corporate Governance Issues
1. No more than 2 directors are current or former company executives
2. No directors do business with the company3. Audit, compensation, and nominating committees made up
of outside directors4. Each director owns a large equity stake in the company 5. At least one outside director with extensive experience 6. Fully employed directors sit on no more than 4 boards,
retirees on no more than 7 7. Each director attends at least 75% of all meetings
BusinessWeek’s “Principles of Good Governance”
Ch 6 -62
Corporate Governance Issues
8. Board meets regularly without management present9. Audit committee meets at least four times a year 10. Board is frugal on executive pay, diligent in CEO succession,
and prompt to act when trouble arises 11. CEO is not also the chairperson of the board12. Shareholders have considerable power and information to
choose & replace directors13. Stock options are considered a corporate expense14. No interlocking directorships
Business Week’s “principles of good governance”
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