analisis strategi dan pilihan bab 6. objektif bab selepas mengikuti bab ini, anda seharusnya boleh:...

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


SWOT Matrix

SPACE Matrix

BCG Matrix

IE Matrix



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


SPACE Matrix

BCG Matrix

IE Matrix


SWOT Matrix


Ch 6 -39


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


Excellent strategic position

Concentration on current markets/products

Take risks aggressively when necessary

Quadrant I

Ch 6 -42


Evaluate present approach

How to improve competitiveness

Rapid market growth requires intensive strategy

Quadrant II

Ch 6 -43


Compete in slow-growth industries

Weak competitive position

Drastic changes quickly

Cost & asset reduction (retrenchment)

Quadrant III

Ch 6 -44


Strong competitive position

Slow-growth industry

Diversification to more promising growth areas

Quadrant IV

Ch 6 -45


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


• 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


• 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


• 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


• 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”

analisis strategi dan pilihan bab 6. objektif bab selepas mengikuti bab ini, anda seharusnya boleh:...

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