希尔国际商务第11版英文PPT-(52)[39页]课件.ppt

1、Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.International Business 11e By Charles W.L. HillCopyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the

2、prior written consent of McGraw-Hill Education.Chapter 13The Strategy of International Business13-3Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.What Is Strategy? A firms strategy refers to the ac

3、tions that managers take to attain the goals of the firm Firms need to pursue strategies that increase profitability and profit growthProfitability is the rate of return the firm makes on its invested capitalProfit growth is the percentage increase in net profits over time13-4Copyright 2017 McGraw-H

4、ill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.What Is Strategy? To increase profitability and profit growth, firms can add valuelower costssell more in existing marketsexpand internationally13-5Copyright 2017 McGraw-Hil

5、l Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.What Is Strategy?Determinants of Enterprise Value13-6Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written conse

6、nt of McGraw-Hill Education.How Is Value Created? To increase profitability, a firm needs to create more value The firms value creation is the difference between V (the price that the firm can charge for a product given competitive pressures) and C (the costs of producing that product) a firm has hi

7、gh profits when it creates more value for its customers and does so at a lower cost 13-7Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Is Value Created?Value Creation13-8Copyright 2017 McGraw-H

8、ill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Is Value Created? Profits can be increased by 1. Using a differentiation strategy adding value to a product so that customers are willing to pay more for it 2. Using a l

9、ow cost strategy lowering costs13-9Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Is Strategic Positioning Important? Michael Porter argues that firms need to choose either differentiation or l

10、ow cost, and then configure internal operations to support the choice So, to maximize long run return on invested capital, firms must pick a viable position on the efficiency frontier configure internal operations to support that position have the right organization structure in place to execute the

11、 strategy13-10Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Is Strategic Positioning Important?Strategic Choice in the International Hotel Industry13-11Copyright 2017 McGraw-Hill Education. Al

12、l rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Are a Firms Operations Configured? A firms operations are like a value chain composed of a series of distinct value creation activities: production, marketing, materials management, R&D,

13、 human resources, information systems, and the firm infrastructure All of these activities must be managed effectively and be consistent with firm strategy13-12Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill

14、Education.How Are a Firms Operations Configured? Value creation activities can be categorized as 1. Primary activities R&D Production marketing and sales customer service2. Support activities information systems logistics human resources13-13Copyright 2017 McGraw-Hill Education. All rights reserved.

15、 No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Are a Firms Operations Configured?The Value Chain13-14Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

16、How Can Firms Increase Profits Through International Expansion? International firms can1. Expand their market sell in international markets2. Realize location economies disperse value creation activities to locations where they can be performed most efficiently and effectively13-15Copyright 2017 McG

17、raw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Can Firms Increase Profits Through International Expansion?3. Realize greater cost economies from experience effects serve an expanded global market from a central

18、location4. Earn a greater return leverage skills developed in foreign operations and transfer them elsewhere in the firm13-16Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Can Firms Leverage Th

19、eir Products and Competencies? Firms can increase growth by selling internationally goods or services developed at home The success of firms that expand internationally depends on the goods or services sold the firms core competencies 13-17Copyright 2017 McGraw-Hill Education. All rights reserved. N

20、o reproduction or distribution without the prior written consent of McGraw-Hill Education.How Can Firms Leverage Their Products and Competencies? Core competencies - skills within the firm that competitors cannot easily match or imitate can exist in any value creation activity Core competencies allo

21、w firms to reduce the costs of value creation and/or to create perceived value so that premium pricing is possible13-18Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Are Location Economies Impo

22、rtant? Location economies are economies that arise from performing a value creation activity in the optimal location for that activity, wherever in the world that might be By achieving location economies, firms can lower the costs of value creation and achieve a low cost position differentiate their

23、 product offering13-19Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Are Location Economies Important? Firms that take advantage of location economies in different parts of the world, create a

24、global web of value creation activitiesdifferent stages of the value chain are dispersed to locations where perceived value is maximized or where the costs of value creation are minimized13-20Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior

25、 written consent of McGraw-Hill Education.Why Are Experience Effects Important? The experience curve refers to the systematic reductions in production costs that occur over the life of a product by moving down the experience curve, firms reduce the cost of creating value to get down the experience c

26、urve quickly, firms can use a single plant to serve global markets13-21Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Are Experience Effects Important? Learning effects are cost savings that co

27、me from learning by doing When labor productivity increases individuals learn the most efficient ways to perform particular tasks managers learn how to manage the new operation more efficiently 13-22Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without th

28、e prior written consent of McGraw-Hill Education.Why Are Experience Effects Important?The Experience Curve13-23Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Why Are Experience Effects Important? E

29、conomies of scale - the reductions in unit cost achieved by producing a large volume of a product Sources of economies of scale includespreading fixed costs over a large volumeutilizing production facilities more intensivelyincreasing bargaining power with suppliers13-24Copyright 2017 McGraw-Hill Ed

30、ucation. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.How Can Managers Leverage Subsidiary Skills? Managers should1. Recognize that valuable skills that could be applied elsewhere in the firm can arise anywhere within the firms globa

31、l network - not just at the corporate center2. Establish an incentive system that encourages local employees to acquire new skills3. Have a process for identifying when valuable new skills have been created in a subsidiary4. Act as facilitators to help transfer skills within the firm13-25Copyright 2

32、017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.What Types of Competitive Pressures Exist in the Global Marketplace? Firms that compete in the global marketplace face two conflicting types of competitive press

33、ures the pressures limit the ability of firms to realize location economies and experience effects, leverage products, and transfer skills within the firm Dealing with both pressures is challenging13-26Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

34、 the prior written consent of McGraw-Hill Education.What Types of Competitive Pressures Exist in the Global Marketplace? Two competitive pressures:1. Pressures for cost reductions force the firm to lower unit costs2. Pressures to be locally responsive require the firm to adapt its product to meet lo

35、cal demands in each market but, this strategy can raise costs 13-27Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.What Types of Competitive Pressures Exist in the Global Marketplace?Pressures for C

36、ost Reductions and Local Responsiveness13-28Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.When Are Pressures for Cost Reductions Greatest? Pressures for cost reductions are greatest1.In industries

37、 producing commodity-type products that fill universal needs (needs that exist when the tastes and preferences of consumers in different nations are similar if not identical) where price is the main competitive weapon2.When major competitors are based in low cost locations3.Where there is persistent

38、 excess capacity4.Where consumers are powerful and face low switching costs13-29Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.When Are Pressures for Local Responsiveness Greatest? Pressures for lo

39、cal responsiveness arise from1. Differences in consumer tastes and preferences strong pressure emerges when consumer tastes and preferences differ significantly between countries2. Differences in traditional practices and infrastructure strong pressure emerges when there are significant differences

40、in infrastructure and/or traditional practices between countries 13-30Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.When Are Pressures for Local Responsiveness Greatest?3. Differences in distribut

41、ion channels need to be responsive to differences in distribution channels between countries4. Host government demands economic and political demands imposed by host country governments may require local responsiveness13-31Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or

42、 distribution without the prior written consent of McGraw-Hill Education.Which Strategy Should a Firm Choose? There are four basic strategies to compete in international marketsthe appropriateness of each strategy depends on the pressures for cost reduction and local responsiveness in the industry 1

43、3-32Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Which Strategy Should a Firm Choose?Four Basic StrategiesImagine that you are the manager of a foreign subsidiary of a major U.S. apparel company.

44、 Consumer tastes in your location require a high degree of local responsiveness, while declining sales in the United States require significant cost reductions. Which of the four main strategic postures (global standardization, localization, transnational, or international) would you adopt to addres

45、s these pressures? What advantages or disadvantages would that strategy provide?13-33Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.13-34Copyright 2017 McGraw-Hill Education. All rights reserved. N

46、o reproduction or distribution without the prior written consent of McGraw-Hill Education.Which Strategy Should a Firm Choose?1. Global standardization - increase profitability and profit growth by reaping the cost reductions from economies of scale, learning effects, and location economies goal is

47、to pursue a low-cost strategy on a global scale This strategy makes sense when there are strong pressures for cost reductions and demands for local responsiveness are minimal13-35Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written cons

48、ent of McGraw-Hill Education.Which Strategy Should a Firm Choose?2. Localization - increase profitability by customizing goods or services so that they match tastes and preferences in different national markets This strategy makes sense when there are substantial differences across nations with rega

49、rd to consumer tastes and preferences and cost pressures are not too intense13-36Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.Which Strategy Should a Firm Choose?3.Transnational - tries to simult

50、aneously achieve low costs through location economies, economies of scale, and learning effects firms differentiate their product across geographic markets to account for local differences and foster a multidirectional flow of skills between different subsidiaries in the firms global network of oper