Strategy Analysis and Choice

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1 Strategy Analysis and Choice
Manajemen Strategi Industri Strategy Analysis and Choice Ir. Erlinda Muslim, MEE Nip

2 Strategy-Formulation Analytical Framework
Stage 1: The Input Stage Stage 2: The Matching Stage Stage 3: The Decision Stage

3 External Factor Evaluation Internal Factor Evaluation
Formulation Framework External Factor Evaluation Matrix (EFE) Stage 1: The Input Stage Internal Factor Evaluation Matrix (IFE) Competitive Profile Matrix

4 Input Stage Provides basic input information for the matching and decision stage matrices Requires strategists to quantify subjectivity early in the process Good intuitive judgment always needed

5 Formulation Framework
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

6 Matching Stage Match between organization’s internal resources and skills and the opportunities and risks created by its external factors.

7 Matching Key Factors to Formulate Alternative Strategies
Key Internal Factor Key External Factor Resultant Strategy Develop a new employee benefits package = Strong union activity (threat) + Poor employee morale (weakness) Develop new products for older adults Decreasing numbers of young adults (threat) Strong R&D (strength) Pursue horizontal integration by buying competitor's facilities Exit of two major foreign competitors form the industry (opportunity) Insufficient capacity (weakness) Acquire Cellfone, Inc. 20% annual growth in the cell phone industry (opportunity) Excess working capacity (strength)

8 Quantitative Strategic
Formulation Framework Stage 3: The Decision Stage Quantitative Strategic Planning Matrix (QSPM)

9 External Factor Evaluation Internal Factor Evaluation
Formulation Framework External Factor Evaluation Matrix (EFE) Stage 1: The Input Stage Internal Factor Evaluation Matrix (IFE) Competitive Profile Matrix

10 The External Assessment
Prediction is very difficult, especially about the future. -- Neils Bohr

11 Nature of External Audit
Purpose: Development of Finite List: Opportunities Threats to be avoided

12 Key External Forces Five (5) broad categories: Economic forces
Social, cultural, demographic, & environmental forces Political, governmental, and legal forces Technological factors Competitive forces

13 Relationships Between Key External Forces and an Organization
Competitors Suppliers Distributors Creditors Customers Employees Communities Managers Stockholders Labor Unions Special Interest Groups Products Services Key External Forces Opportunities & Threats

14 Porter’s Five Forces Model of Industry Competition
Exhibit 2.4 Porter’s Five Forces Model of Industry Competition INDUSTRY COMPETITORS Rivalry Among Existing Firms POTENTIAL ENTRANTS SUBSTITUTES BUYERS SUPPLIERS Threat of substitute products or services Bargaining power of buyers new entrants of suppliers Reprinted with the permission of The Free Press, a division of Simon & Schuster, Inc. from Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael E. Porter. Copyright © 1980, 1998 by The Free Press.

15 Five Forces Analysis of the Automotive Industry
Threat of Rivalry Oligopolistic industry Overcapacity Differentiation on basis of functional attributes only temporary Global Competitive Environment Threat of Market Entry Threat of Suppliers High barriers to entry High capital requirements Contrived deterrence Cost disadvantages Automotive Industry Consolidation Single Sourcing Low level of total value added Threat of Substitutes Threat of Buyers Train, public transport or other means of transportation Numerous potential customers Industry policy of rebates More demanding customers

16 External Factor Evaluation Matrix
Industry Analysis (EFE) External Factor Evaluation Matrix Summarize & evaluate: Competitive Political Cultural Technological Environmental Social Governmental Demographic Economic

17 External Factor Evaluation (EFE)
Menggambarkan keseluruhan opportunities dan threats yang ada untuk mengetahui seberapa besar pengaruh dari setiap faktor tersebut terhadap institusi, respons institusi setiap faktor tersebut dan untuk mengetahui nilai institusi terhadap keseluruhan faktor dibandingkan dengan Institusi lain

18 Industry Analysis (EFE)
Five-Step process: List key external factors (10-20) Opportunities & threats Assign weight to each (0 to 1.0) Sum of all weights = 1.0

19 Industry Analysis (EFE)
Five-step process: Assign 1-4 rating to each factor Firm’s current strategies response to the factor Multiply each factor’s weight by its rating Produces a weighted score

20 Industry Analysis (EFE)
Five-step process: Sum the weighted scores for each Determines the total weighted score for the organization. Highest possible weighted score for the organization is 4.0; the lowest, Average = 2.5

21 UST—Key External Factors
.20 1 Clinton Administration 2 .10 Bad media exposure from FDA .05 Smokeless market SE region U.S. .15 3 Production limits on tobacco Legislation against the tobacco industry Threats .30 More social pressure to quit smoking 2.10 1.00 TOTAL .60 4 Pinkerton leader in discount market Astronomical Internet growth Increased demand Global markets untapped Weighted score Rating Weight UST—Key External Factors Opportunities

22 Tabel : Matriks EFE PT. Pos Indonesia

23 Industry Analysis (EFE)
Total weighted score of 4.0 = Organization response is outstanding to threats & weaknesses Total weighted score of 1.0 = Firm’s strategies not capitalizing on opportunities or avoiding threats

24 Industry Analysis (EFE)
Important Understanding of the factors used in the EFE Matrix is more important than the actual weights and ratings assigned.

25 External Factor Evaluation Internal Factor Evaluation
Formulation Framework External Factor Evaluation Matrix (EFE) Stage 1: The Input Stage Internal Factor Evaluation Matrix (IFE) Competitive Profile Matrix

26 The Internal Assessment
Great spirits have always encountered violent opposition from mediocre minds. -- Albert Einstein

27 Nature of an Internal Audit
All organizations – Strengths Weaknesses

28 Nature of an Internal Audit
Basis for objectives & strategies: Internal strengths/weaknesses External opportunities/threats Clear statement of mission

29 Key Internal Forces Distinctive Competencies
A firm’s strengths that cannot be easily matched or imitated by competitors Building competitive advantage involves taking advantage of distinctive competencies Strategies designed in part to improve on a firm’s weaknesses and turn to strengths

30 Internal Audit Parallels process of external audit
Gather & assimilate information from: Management Marketing Finance/accounting Production/operations Research & development Management information systems

31 Functions of Management
Five basic activities – Planning Organizing Motivating Staffing Controlling

32 Functions of Management
Stage When Most Important Function Planning Strategy Formulation Organizing Strategy Implementation Motivating Strategy Implementation Staffing Strategy Implementation Controlling Strategy Evaluation

33 Establishing objectives
Planning Forecasting Establishing objectives Devising strategies Developing policies Setting goals Planning

34 Organizing Organizational design Job specialization Job descriptions
Job specifications Span of control Unity of command Coordination Job design Job analysis Organizational design Job specialization Job descriptions Job specifications Span of control Unity of command Coordination Job design Job analysis Organizational design Job specialization Job descriptions Job specifications Span of control Unity of command Coordination Job design Job analysis Organizing Organizing Organizing

35 Organizational change
Motivating Leadership Communication Work groups Job enrichment Job satisfaction Needs fulfillment Organizational change Morale Motivating

36 Management development Discipline procedures
Staffing Wage & salary admin Employee benefits Interviewing Hiring Firing Training Management development Safety Affirmative action EEO Labor relations Career development Discipline procedures Staffing

37 Controlling Quality control Financial control Sales control
Inventory control Expense control Analysis of variances Rewards Sanctions Controlling

38 Marketing Process of defining, anticipating, creating, and fulfilling customers’ needs and wants for products and services

39 Marketing Customer analysis Selling products/services
Product and service planning Pricing Distribution Marketing research Opportunity analysis

40 Market segmentation strategies
Marketing Customer surveys Consumer information Market positioning strategies Customer profiles Market segmentation strategies Customer analysis

41 Sales force management Selling Products/services
Marketing Advertising Sales Promotion Publicity Sales force management Customer relations Dealer relations Selling Products/services

42 Product features/options Product/service planning
Marketing Test marketing Brand positioning Devising warrantees Packaging Product features/options Product style Quality Product/service planning

43 Marketing Forward integration Discounts Credit terms Condition of sale
Markups Costs Unit pricing Pricing

44 Marketing Distribution Warehousing Channels Coverage
Retail site locations Sales territories Inventory levels Transportation Distribution

45 Support all business functions
Marketing Data collection Data input Data analysis Support all business functions Marketing research

46 Cost/benefit/risk analysis
Marketing Assessing costs Assessing benefits Assessing risks Cost/benefit/risk analysis Opportunity Analysis

47 Finance/Accounting Determining financial strengths and weaknesses key to strategy formulation Investment decision (Capital budgeting) Financing decision Dividend decision

48 Finance/Accounting Functions of Finance/Accounting –
Investment decision (Capital budgeting) Financing decision Dividend decision

49 Basic Financial Ratios
Firm’s ability to meet its short-term obligations Ratios Current ratio Quick (or acid-test) ratio Liquidity ratios

50 Debt-to-total-assets Long-term debt-to-equity Times-interest earned
Basic Financial Ratios Extent of debt financing Ratios Debt-to-total-assets Debt-to-equity Long-term debt-to-equity Times-interest earned Leverage ratios

51 Accounts receivable turnover Average collection period
Basic Financial Ratios Effective use of firm’s resources Ratios Inventory-turnover Fixed assets turnover Total assets turnover Accounts receivable turnover Average collection period Activity ratios

52 Operating profit margin Return on total assets (ROA)
Basic Financial Ratios Effectiveness shown by returns on sales and investment Ratios Gross profit margin Operating profit margin Net profit margin Return on total assets (ROA) Profitability ratios

53 Return on stockholders’ equity (ROE)
Basic Financial Ratios Effectiveness shown by returns on sales and investment Ratios Return on stockholders’ equity (ROE) Earnings per share Price-earnings ratio Profitability ratios (continued)

54 Basic Financial Ratios
Firm’s ability to maintain economic position Ratios Sales Net income Earnings per share Dividends per share Growth ratios

55 Production/Operations
Process Capacity Inventory Workforce Quality

56 Production/Operations
Design of facility Choice of technology Facility layout Process flow analysis Facility location Line balancing Process control Process

57 Production/Operations
Forecasting Facilities planning Aggregate planning Scheduling Capacity planning Queuing analysis Capacity

58 Production/Operations
Raw material Work in process Finished goods Materials handling Inventory

59 Motivation techniques
Production/Operations Job design Work measurement Job enrichment Work standards Motivation techniques Workforce

60 Production/Operations
Quality control Sampling Testing Quality assurance Cost control Quality

61 Research and Development
Development of new products before competition Improving product quality Improving manufacturing processes to reduce costs

62 Research and Development
Financing as many projects as possible Use percentage-of-sales method Budgeting relative to competitors Deciding how many successful new products are needed R&D budgets

63 Management Information Systems
Purpose – Improve performance of an enterprise by improving the quality of managerial decisions.

64 Internal Analysis (IFE)
Menggambarkan keseluruhan strength dan weakness yang ada untuk mengetahui seberapa besar pengaruh dari setiap faktor tersebut terhadap institusi, respons institusi setiap faktor tersebut dan untuk mengetahui nilai institusi terhadap keseluruhan faktor dibandingkan dengan Institusi lain

65 Internal Analysis (IFE)
Five-Step Process: List key internal factors (10-20) Strengths & weaknesses Assign weight to each (0 to 1.0) Sum of all weights = 1.0

66 Internal Analysis (IFE)
Assign 1-4 rating to each factor Firm’s current strategies response to the factor Multiply each factor’s weight by its rating Produces a weighted score

67 Internal Analysis (IFE)
Sum the weighted scores for each Determines the total weighted score for the organization Highest possible weighted score for the organization is 4.0; the lowest, Average = 2.5

68 Internal Analysis (IFE)
.15 3 .05 Financial ratios Reputation as family-friendly .20 4 Long-range planning Minimal comps provided Buffets at most facilities Strong management team .60 Owns 1 mile on Las Vegas strip Increasing free cash flows .40 .10 Room occupancy rates over 95% Largest casino company in world Weighted score Rating Weight Mandalay Bay Internal Strengths

69 Internal Analysis (IFE)
2.75 1.0 TOTAL (including Strengths) .10 1 Recent loss of joint ventures Laughlin properties 2 .05 Family reputation, not high rollers Little diversification Most properties located in Las Vegas Weighted score Rating Weight Mandalay Bay Internal Weaknesses

70 Tabel : Matriks IFE PT. Pos Indonesia

71 Menentukan Distinctive Competencies
Diantara sejumlah strengths yang dimiliki suatu institusi dapat saja beberapa diantaranya merupakan distinctive competencies. Untuk mengevaluasi apakah suatu strength adalah distinctive competency dapat digunakan metode Barney yaitu dengan konsep VRIO

72 VRIO Value : apakah faktor tersebut memberikan keunggulan kompetitif pada institusi ? Rareness : apakah pesaing tidak memiliki faktor tersebut ? Imitability : apakah tidak mudah untuk memiliki faktor tersebut ? Organization : apakah institusi memanfaatkan faktor tersebut secara maksimal ? Jika jawab dari keempat : Ya distinctive competency

73 External Factor Evaluation Internal Factor Evaluation
Formulation Framework External Factor Evaluation Matrix (EFE) Stage 1: The Input Stage Internal Factor Evaluation Matrix (IFE) Competitive Profile Matrix

74 Competitive Profile Matrix
Industry Analysis (CPM) Competitive Profile Matrix Identifies firm’s major competitors and their strengths & weaknesses in relation to a sample firm’s strategic position

75 (CPM) Procter Avon L’Oreal & Gamble 2.80 3.25 3.15 1.00 Total 0.15 3 0.20 4 0.05 1 Market Share 0.40 2 0.80 Global Expansion 0.10 Customer Loyalty 0.45 0.60 Financial Position 0.30 Management Price Competition Product Quality Advertising Score Rating Weight Critical Success Factor

76 Competitive Profile Matrix

77 Formulation Framework
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

78 Strategy Analysis & Choice
Whether it’s broke or not, fix it—make it better. Not just products, but the whole company if necessary. -- Bill Saporito

79 SWOT ANALYSIS Asumsi: Suatu strategi yang efektif akan memaksimalkan kekuatan (Strength) dan peluang (Opportunities), dan meminimalkan kelemahan (Weaknesses) dan ancaman ((Threat) Opportunities: Situasi penting dari faktor eksternal yang menguntungkan perusahaan. (perubahan teknologi, membaiknya hubungan pembeli & pemasok, dll) Threat: faktor internal yang tidak menguntungkan perusahaan. (masuknya pesaing baru, lambatnya pertumbuhan pasar, meningkatnya kekuatan pembeli & pemasok, dll) Strength: Kekuatan internal meliputi sumberdaya, keterampilan/ keunggulan lainnya relatif terhadap pesaing dan kebutuhan pasar yang dilayani/ ingin dilayani perusahaan. (sumber daya keuangan, citra, dll) Weaknesses: Kekurangan/ keterbatasan daam sumber daya, keterampilan dan kapabilitas yang menghambat kinerja perusahaan.

80 ANALISA SWOT (TOWS) MATRIX
Dikemukakan oleh : Thomas L. Wheelen dan J. David Hunger Menggunakan matrix untuk menghasilkan strategi alternatif dengan memanfaatkan EFE dan IFE Langkah-Langkahnya : Pada blok opportunities cantumkan sejumlah opportunities yang diambil dari tabel EFE Pada blok threats cantumkan sejumlah threats yang diambil dari EFE Pada blok strength, cantumkan sejumlah strength yang diambil dari IFE Pada blok weakness cantumkan sejumlah weakness yg diambil dari IFE Dapatkan sejumlah strategi-strategi yang mungkin untuk perusahaan berdasarkan kombinasi dari 4 elemen tersebut

81 Matching Stage TOWS Matrix Threats Opportunities Strengths Weaknesses

82 TOWS Matrix Develop four types of strategies
Strengths-Opportunities (SO) Weaknesses-Opportunities (WO) Strengths-Threats (ST) Weaknesses-Threats (WT)

83 Kuadran SO, ST, WO, WT Kuadran SO : posisi yang paling menguntungkan dimana institusi sedang melihat peluang-peluang dan memiliki kekuatan untuk meraihnya Kuadran ST : institusi dengan beberapa kekuatan yang dimilikinya sedang menghadapi ancaman dari luar. Institusi dapat menggunakan kekuatan untuk menciptakan peluang di masa yang akan datang Kuadran WO : institusi sedang melihat peluang tetapi mengalami kendala dalam meraihnya karena perusahaan memiliki kelemahan. Institusi harus dapat mengeliminir kekurangan-kekurangan supaya lebih efektif dalam meraih peluang Kuadran WT : posisi yang paling tidak menyenangkan dimana perusahaan sedang menghadapi ancaman dari luar bersamaan dengan posisinyapun sedang lemah. Institusi bertahan sambil mengkaji ulang keterlibatan institusi dalam pelayanan yang sedang terancam tersebut

84 STRATEGI SO, ST, WO, WT Strategi SO : strategi memanfaatkan peluang dengan mendayagunakan kekuatan internal Strategi ST : strategi untuk menghadapi atau menghidarkan ancaman dengan mendayagunakan kekuatan yang dimiliki Strategi WO : strategi untuk mengatasi kelemahan dengan cara memanfaatkan peluang yang ada Strategi WT : strategi yang meminimalkan kelemahan sambil mencegah ancaman yang ada di luar

85 SO Strategies Threats Opportunities Weaknesses Strengths (TOWS)
Use a firm’s internal strengths to take advantage of external opportunities

86 WO Strategies Threats Opportunities Weaknesses Strengths (TOWS)
Improving internal weaknesses by taking advantage of external opportunities

87 ST Strategies Threats Opportunities Weaknesses Strengths (TOWS)
Using firm’s strengths to avoid or reduce the impact of external threats.

88 WT Strategies Threats Opportunities Weaknesses Strengths (TOWS)
Defensive tactics aimed at reducing internal weaknesses and avoiding environmental threats.

89 TOWS Matrix Steps in developing the TOWS Matrix
List the firm’s key external opportunities List the firm’s key external threats List the firm’s key internal strengths List the firm’s key internal weaknesses

90 TOWS Matrix Developing the TOWS Matrix
Match internal strengths with external opportunities and record the resultant SO Strategies Match internal weaknesses with external opportunities and record the resultant WO Strategies Match internal strengths with external threats and record the resultant ST Strategies Match internal weaknesses with external threats and record the resultant WT Strategies

91 TOWS Matrix WT Strategies ST Strategies Threats-T WO Strategies
Minimize weaknesses and avoid threats ST Strategies Use strengths to avoid threats Threats-T List Threats WO Strategies Overcome weaknesses by taking advantage of opportunities SO Strategies Use strengths to take advantage of opportunities Opportunities-O List Opportunities Weaknesses-W List Weaknesses Strengths-S List Strengths Leave Blank

92 overcoming weaknesses
SWOT MATRIX INTERNAL FACTORS EXTERNAL FACTORS STRENGHTS (S) List Internal Strenghts Here WEAKNESSES (W) List Internal Weaknesses Here OPPORTUNITIES (O) List External Opportinities Here S-O Strategies Generate strategies here that use Strenghts to take adventage of opportunities W-O Strategies Generate strategies here that take adventage of opportunities by overcoming weaknesses THREATS (T) List External Threats Here S-T Strategies Generate strategies here that use strenghts to avoid threats W-T Strategies Generate strategies here that minimize weaknesses and avoid threats

93 TOWS Matrix

94 TOWS Matrix

95 TOWS Matrix

96 FORMULATION FRAMEWORK
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

97 SPACE Matrix SPACE = The Strategic Position and ACtion Evaluation
Dikemukakan oleh : R. Howe, R. Mason & K. Dickel Diadaptasi oleh : Fred R. David Menilai seluruh strategic factors Mengolah Ditampilkan pada sistem koordinat 2 dimensi

98 SPACE Matrix Strategic Position and Action Evaluation Matrix
Four quadrant framework Determines appropriate strategies Aggressive Conservative Defensive Competitive

99 SPACE Matrix Two Internal Dimensions Two External Dimensions
Financial Strength [FS] Competitive Advantage [CA] Two External Dimensions Environmental Stability [ES] Industry Strength [IS]

100 SPACE Matrix Overall Strategic position determined by:
Financial Strength [FS] Competitive Advantage [CA] Environmental Stability [ES] Industry Strength [IS]

101 SPACE Matrix Developing the SPACE Matrix: EFE Matrix IFE Matrix
Financial Strength Competitive Advantage Environmental Stability Industry Strength

102 SPACE Matrix Select variables to define FS, CA, ES, & IS
Assign numerical ranking from +1 (worst) to +6 (best) for FS and IS; Assign numerical ranking from –1 (best) to –6 (worst) for ES and CA. Compute average score for FS, CA, ES, & IS

103 External Strategic Position Internal Strategic Position
SPACE Matrix Environmental Stability (ES) Technological changes Rate of inflation Demand variability Price range of competing products Barriers to entry Competitive pressure Price elasticity of demand Financial Strength (FS) Return on investment Leverage Liquidity Working capital Cash flow Ease of exit from market Risk involved in business External Strategic Position Internal Strategic Position

104 External Strategic Position Internal Strategic Position
SPACE Matrix Industry Strength (IS) Growth potential Profit potential Financial stability Technological know-how Resource utilization Capital intensify Ease of entry into market Productivity, capacity utilization Competitive Advantage CA Market share Product quality Product life cycle Customer loyalty Competition’s capacity utilization Control over suppliers & distributors External Strategic Position Internal Strategic Position

105 SPACE Matrix FS Conservative Aggressive CA IS Competitive Defensive ES
+6 +5 +4 +3 +2 +1 CA IS -6 -5 -4 -3 -2 -1 +1 +2 +3 +4 +5 +6 -1 -2 -3 -4 -5 Competitive Defensive -6 ES

106 SPACE Matrix : NIKE

107 SPACE Matrix : AMAZON

108 Posisi Strategis SO + 0,59 ; + 0,60
Opportunities Posisi Strategis SO + 0,59 ; + 0,60 +2,75 +0,60 -2,15 Weakness Strength -2, , ,09 Rata-Rata Opportunities = +33/12 = + 2,75 Rata-Rata Threats = -28/13 = - 2,15 Rata-Rata Strength = +34/11 = + 3,09 Rata-Rata Weakness = -15/6 = - -2,50 Koordinat X = +3,09 + (-2,50) = 0,59 Koordinat Y = +2,75 + (-2,15) = 0,60 Threats

109 SPACE MATRIX POSISI STRATEGIS PERUSAHAAN
OPPORTUNITIES Supports an Aggressive Strategy Supports a Turn Oriented Strategy WEAKNESSES STRENGTHS Supports a Difensive Strategy Supports a Diversification Strategy THREATS

110 Formulation Framework
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

111 BCG Matrix Boston Consulting Group Matrix
Enhances multidivisional firms’ efforts to formulate strategies Autonomous divisions (or profit centers) constitute the business portfolio Firm’s divisions may compete in different industries requiring separate strategy Graphically portrays differences among divisions Focuses on market share position and industry growth rate Manage business portfolio through relative market share position and industry growth rate

112 Relative Market Share Position Industry Sales Growth Rate
BCG Matrix Relative Market Share Position High 1.0 Medium .50 Low 0.0 Industry Sales Growth Rate Dogs IV Cash Cows III Question Marks I Stars II High +20 Medium Low -20

113 Kondisi Bisnis Perusahaan
Perusahaan dengan satu bisnis Diversifikasi perusahaan yang berhubungan Diversifikasi perusahaan yang tak ada hubungan Bersaing sebagai satu bisnis Membagi kompetensi bisnis satu sama lain Tiap unit bisnis otonom pada pasar yang berbeda-beda Apple Computer McDonald’s Corp. Wrigley Maytag Texas Air Ford Motor P&G Philip Morris Dow-Corning Johnson & Johnson Du Pont Gilette ITT Rockwell GE LTV Textron Litton

114 Pendekatan Portofolio
Pendekatan portofolio ditandai ciri berikut : Menguji setiap bisnis perusahaan yang terpisah sebagai elemen portofolio dari total bisnis. Suatu unit bisnis dalam portofolio perusahaan, pada derajat tertentu, adalah merupakan penghasil (generators) atau penerima (recipients) dari sumber-sumber (resources) perusahaan. Pendekatan portofolio merupakan cara yang sederhana dan visual untuk mengidentifikasi dan mengevaluasi alternatif strategi guna dapat menghasilkan dan mengalokasikan sumber-sumber perusahaan (corporate resources)

115 SUSUNAN MATRIKS BCG Matrix BCG ini dibentuk dari empat sel (Matriks 2 X 2) yang mengukur laju pertumbuhan pasar (market growth) pada sumbu vertikal, dan pangsa pasar relatif (relative market share) pada sumbu horizontal Didalam matriks BCG, setiap unit bisnis menempati salah satu dari kategori “tanda tanya” Question mark Star Cash cow Dogs

116 MATRIKS BCG Matrixs BCG merupakan model yang sederhana dan paling banyak digunakan. Model ini berguna bagi top manager yang membawahi unit bisnis yang berbeda-beda (diversified forms), khususnya untuk mengalokasikan sumber-sumber (resources) dari satu unit ke unit bisnis lainnya. Matriks ini juga digunakan untuk memperkirakan posisi pasar suatu unit bisnis beberapa tahun ke depan bila tidak dilakukan perubahan kebijakan (policies) selama ini

117 Bentuk BCG Matrix Market Growth Star Question Mark Cash Cow Dog
High Market Growth Low Star Question Mark Cash Cow Dog Strong Weak Relative Market Share

118 The Boston Consulting Group’s
Growth-Share Matrix 20%- 18%- 16%- 14%- 12%- 10%- 8%- 6%- 4%- 2%- Market Growth Rate 10x 4x 2x 1.5x 1x Relative Market Share .5x .4x .3x .2x .1x Stars 5 4 3 ? Question marks 2 1 Cash cows 6 Dogs 8 7

119 Indikator Cash Flow Beberapa indikator berikut diperlukan dalam penyusunan matriks BCG: Cash flow merupakan indikator kunci pada matriks BCG Cash flow merepresentasikan kemampuan dari unit bisnis untuk membangun portofolio-nya Cash flow dalam matriks BCG dapat dibagi atas: Pemakaian kas (cash use) karena pangsa pasar relatif (relative market share) di sumbu horizontal Penerimaan kas (cash generated) karena pertumbuhan pasar (market growth rate) di sumbu vertikal Relative market share dapat dihitung dari ratio market share unit bisnis dengan market share pesaing tertinggi Market growth atau pertumbuhan pada industri bersangkutan.

120 Asumsi Cash flow vs. posisi bisnis
Hubungan antara cash flow perusahaan dengan portofolio bisnisnya dapat terjadi berdasarkan beberapa asumsi : Profit margin dan penerimaan kas (cash generation) makin besar dengan bertambahnya relative market share, akibat learning curve Market growth membutuhkan uang tunai (cash used) guna membiayai modal kerja, penambahan kapasitas, dan investasi lainnya Sebagian unit bisnis membutuhkan uang tunai lebih besar dari pendapatannya, sedang sebagian lain menghasilkan lebih besar dari yang digunakannya Dalam portofolio perusahaan, cash flow keseluruhan perusahaan harus seimbang, yaitu antara kebutuhan tunai total dengan kemampuan unit-unit usaha dalam menghasilkan uang tunai ditambah pembiayaan dari luar.

121 Analisa Cash Flow Star Question Mark Cash Cow Dog High Market Growth
Cash generated +++ Cash use Cash generated + Cash use - - Cash Cow Dog Cash generated +++ Cash use ++ Cash generated + Cash use Strong Weak Relative Market Share

122 4 Strategi Utama BCG Matrix
Build market share Hold market share Harvest Divest

123 BCG Matrix: Karakteristik Kuadran
30% Market Growth -10% Star Earnings: high stable, growing Cash flow: neutral Strategy: hold or invest for growth Question Mark Earnings: low, unstable, growing Cash flow: negative Strategy: build market share or harvest/divest Cash Cow Earnings: high stable Cash flow: high stable Strategy: hold or add market share Dog Earnings: low, unstable Cash flow: neutral or negative Strategy: harvest/divest 10 1.0 .1 Relative Market Share

124 Penggunaan Model : Simbol
Product A Previous Market Size and Position Product A Total Market Market Share Product B Market Smaller but firm has greater share B

125 Plotting Your SBU’s C B A 30% Market Growth -10% Star Question Mark A
Cash Cow Dog 10 1.0 .1 Relative Market Share

126 Traditional SBU or Product Path
30% Market Growth -10% Star Question Mark 2 1 3 Cash Cow Dog 4 10 1.0 .1 Relative Market Share

127 ? ? ? MATRIKS BCG & BUSINESS LIFE CYCLE Question mark
Berada pada kuadran 1, dimana relative market share-nya rendah (low), namun dengan market groqth rate yang tinggi (high) Ini mengingat posisi market share yang rendah, menunjukkan cash generated yang rendah pula, dan cash use yang tinggi pada market growth yang tinggi. Dalam kondisi bisnis “question mark” ini perusahaan harus memutuskan untuk memperkuat diri dengan strategi intensif (penetrasi pasar, pengembangan pasar, atau pengembangan produk) atau menjualnya bila pelaksanaan strategi terlalu mahal. Misi yang dituntut dari anak perusahaan ini adalah membangun (build) market share. Dalam daur hidup bisnis, posisi ini terletak pada masa perkenalan atau masa-masa awal bisnis (introduction) perusahaan

128 MATRIKS BCG & BUSINESS LIFE CYCLE
Star MATRIKS BCG & BUSINESS LIFE CYCLE Berada pada kuadran II, menunjukkan baik relative market share dan market growth yang tinggi, serta menunjukkan cash generated maupun cash use yang tinggi pula. Posisi star merupakan posisi dominan yang dikejar setiap perusahaan dan posisi yang paling kuat, namun harus dipertahankan dengan investasi yang memadai. Hal tersebut dapat dilakukan dengan strategi integrasi, strategi intensif atau joint ventures, melalui integrasi ke hilir (forward), ke hulu (backward) atau ke pesaing (horizontal), serta melalui penetrasi pasar, pengembangan pasar, atau pengembangan produk dan joint ventures. Misi yang perlu dilakukan adalah mempertahankan (hold) market share. Posisi “hold” sama dengan siklus pertumbuhan (growth) pada business life cycle.

129 MATRIKS BCG & BUSINESS LIFE CYCLE
Cash cow MATRIKS BCG & BUSINESS LIFE CYCLE Berada pada kuadran III, yaitu dengan relative market share yang tinggi namun market growth-nya rendah. Pada market share yang tinggi, biaya per unit cenderung rendah dan berarti menghasilkan laba yang tinggi. Sebaliknya dengan market growth yang rendah, bisnis dalam keadaan menurun sehingga kurang di perlukan uang tunai untuk keperluan investasi. Unit bisnis ini memiliki keuntungan dan cash flow yang tinggi Misi yang di emban adalah memanen (harvest) keuntungan dan cash flow jangka pendek untuk membiayai bisnis anak perusahaan yang lainnya, dengan pendapatan yang besar, namun dengan pertumbuhan yang rendah

130 Dog MATRIKS BCG & BUSINESS LIFE CYCLE
Berada pada kuadran IV, berada pada posisi yang lemah dan industri sudah tidak menarik. Biasanya strategi yang baik adalah melakukan divestasi, kecuali masih ada kemungkinan memperbaikinya dengan biaya yang tidak terlalu mahal. Misi yang dilakukan adalah melakukan (divest) bisnis tersebut. Disini perusahaan berada dalam keadaan “declining” atau mengalami siklus menurun.

131 KATEGORI BISNIS, MISI DAN DAUR HIDUP
HUBUNGAN ANTARA KATEGORI BISNIS, MISI DAN DAUR HIDUP KUADRAN KATEGORI MISI DAUR HIDUP I Question Mark (“?”) Build Introduction II Stars Hold Growth III Cash Cows Harvest Mature IV Dogs Divest Decline

132 Keuntungan MATRIKS BCG
Pendekatan yang sederhana pemakaiannya dan disajikan secara visual Memudahkan penentuan portofolio bisnis dari divisi atau anak perusahaan Merangsang minat dalam perencanaan strategi Mendorong perusahaan untuk melihat formulasi strategi sebagai hubungan kerjasama antara unit-unit bisnis yang ada didalam perusahaan Memperlihatkan bagaimana setiap unit perusahaan memiliki penerimaan dan penggunaan dana tunai (cash flow) yang berbeda-beda terhadap pencapaian tujuan perusahaan.

133 KELEMAHAN MATRIKS BCG Penggunaan tinggi dan rendah pada growth-share matriks untuk empat kategori, terlalu menyederhanakan masalah bisnis. Hubungan antara market share dengan profitabilitas tidak selalu linier karena market share unit bisnis yang rendah masih bisa mendapatkan keuntungan yang besar, bila di pasarkan pada “niche market” Tingkat perrumbuhan yang tinggi tidak selalu yang terbaik. Matriks ini hanya memperhitungkan pesaing yang kuat dengan mengabaikan pesaing-pesaing kecil yang sedang tumbuh dengan cepat. Market growth hanyalah salah satu saja dari faktor daya tarik industri (industry attractiveness) dan market share adalah juga salah satu dari posisi kompettif bisnis.

134 GE Multifactor Portfolio Matrix
Business Strengths Industry Attractiveness High Medium Low Invest/Grow Selectivity /earnings Harvest /Divest

135 GE/McKinsey Matrix & Arah Strategis
Memposisikan berbagai divisi organisasi dalam 9-sel berdasarkan analisa SWOT dengan weighted scores (dari matriks EFE and IFE). Strategi yang dapat ditempuh, adalah: Grow and build (divisi pada sel 1, 2 or 4): market penetration, market development, product development or backward, forward and horizontal integration. Hold and maintain (divisi pada sel 3, 5, 7): market penetration or product development. Harvest or divest (divisi pada cells 6, 8, 9): divest, liquidate, or retrench.

136 GE Multifactor Portfolio Matrix
Business Strengths High Medium Low Invest/Grow 1 Strongly (build) Invest/Grow 2 Selectively (build) Dominate/ 3 Delay/ divest High Invest/Grow 4 Selectively (build) Earn/ 5 Protect (hold) Harvest/ 6 divest Industry Attractiveness Medium Earn/ 7 Protect (hold) Harvest/ 8 divest Harvest/ 9 divest Low

137 ADL Portfolio Matrix Industry Maturity (Attractiveness) Consolidate
Embrionic Growing Mature Aging Invest Hold Dominant Consolidate Improve Strong Maintain Competitive Position Selective Harvest Favorable Niche Tenable Liquidate Divest Weak Selective

138 Penggunaan ADL Matrix ADL Matrix adalah matriks yang dibuat oleh konsultan Arthur D. Little sebagai penyempurnaan dari GE/McKinsey Matrix Perbedaannya: Pada ADL Matrix di-plotkan posisi daya saing (competitive position) perusahaan terhadap tahap-tahap siklus hidup (life cyclus dari produk, pasar, dan industri. Penggunaan ketiga matriks dalam proses portofolio bisnis barangkali akan memberikan hasil yang lebih baik.

139 Illustrasi: Analisa Portofolio Internasional
Competitive Strengths Country’s Attractiveness: Market size, Market rate of growth, Regulasi pemerintah, Faktor ekonomi, Politik, dll. Product’s Competitive Strength: Market share, Product fit, Contribution margin, Market support, dll. High Medium Low Invest/Grow Dominate/ Divest/ Joint Venture High Selective Strategies Country Attractiveness Medium Harvest/ Divest/ Combine/ License Low

140 Formulation Framework
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

141 INTERNAL EXTERNAL (IE) MATRIX
Matriks Internal-External adalah salah satu alat yang dapat digunakan untuk memposisikan perusahaan kedalam matriks yang terdiri atas 9 sel, untuk menyusun strategi perusahaan/grand strategy. IE Matrix terdiri atas sumbu X yang menyatakan skor total dari IFE matrix (IFAS) dan sumbu Y yang menyatakan skor total EFE matrix (EFAS) Arti posisi internal pada sumbu X dan posisi eksternal pada sumbu Y adalah sebagai berikut : POSISI PADA SUMBU X POSISI INTERNAL POSISI INTERNAL POSISI INTERNAL LEMAH RATA-RATA KUAT POSISI EXTERNAL POSISI EXTERNAL POSISI EXTERNAL RENDAH SEDANG TINGGI POSISI PADA SUMBU Y

142 MATRIKS INTERNAL-EKSTERNAL
9 SEL POSISI MATRIKS INTERNAL-EKSTERNAL POSISI I, II, IV Posisi perusahaan yang menempati sel I, II & IV dapat digambarkan sebagai GROW & BUILD. Strategi yang cocok untuk masing-masing posisi sel ini adalah : Intensive (market penetration, market development & product development) atau integration (backward integration, forward integration, horizontal integration) POSISI III, V, VII Posisi yang menempati sel III, V & VII dapat digambarkan sebagai HOLD & MAINTAIN. Strategi yang cocok untuk masing-masing posisi sel ini adalah : Market penetration & product development. POSISI VI, VIII, IX Posisi perusahaan yang menempati sel VI, VIII & IX dapat menggunakan strategi HARVEST or DIVESTITURE

143 MATRIKS INTERNAL-EKSTERNAL
9 SEL POSISI MATRIKS INTERNAL-EKSTERNAL SKOR TOTAL IFE/IFAS 4, KUAT ,0 RATA-RATA 2,0 LEMAH 1,0 4, TINGGI 3,0 RATA 2,0 RENDAH 1,0 I II III SKOR TOTAL EFE/ EFAS IV V VI VII VIII IX

144 IE MATRIX : AMAZON

145 Formulation Framework
TOWS Matrix SPACE Matrix Stage 2: The Matching Stage BCG Matrix IE Matrix Grand Strategy Matrix

146 Grand Strategy Matrix Popular tool for formulating alternative strategies All organizations (or divisions) can be positioned in one of four quadrants Based on two evaluative dimensions: Competitive position Market growth

147 RAPID MARKET GROWTH Quadrant II Market development Market penetration
Product development Horizontal integration Divestiture Liquidation Quadrant I Market development Market penetration Product development Forward integration Backward integration Horizontal integration Concentric diversification WEAK COMPETITIVE POSITION STRONG COMPETITIVE POSITION Quadrant III Retrenchment Concentric diversification Horizontal diversification Conglomerate diversification Liquidation Quadrant IV Concentric diversification Horizontal diversification Conglomerate diversification Joint ventures SLOW MARKET GROWTH

148 Grand Strategy Matrix Quadrant I Excellent strategic position
Concentration on current markets and products Take risks aggressively when necessary

149 Grand Strategy Matrix Quadrant II Evaluate present approach seriously
How to change to improve competitiveness Rapid market growth requires intensive strategy

150 Grand Strategy Matrix Quadrant III Compete in slow-growth industries
Weak competitive position Drastic changes quickly Cost and asset reduction indicated (retrenchment)

151 Grand Strategy Matrix Quadrant IV Strong competitive position
Slow-growth industry Diversification indicated to more promising growth areas

152 Grand Strategy Matrix : Amazon

153 Quantitative Strategic
Formulation Framework Stage 3: The Decision Stage Quantitative Strategic Planning Matrix (QSPM)

154 QSPM Quantitative Strategic Planning Matrix
Only technique designed to determine the relative attractiveness of feasible alternative actions

155 QSPM Quantitative Strategic Planning Matrix
Tool for objective evaluation of alternative strategies Based on identified external and internal crucial success factors Requires good intuitive judgment

156 QSPM Quantitative Strategic Planning Matrix
List the firm’s key external opportunities & threats; list the firm’s key internal strengths and weaknesses Assign weights to each external and internal critical success factor

157 QSPM Quantitative Strategic Planning Matrix
Examine the Stage 2 (matching) matrices and identify alternative strategies that the organization should consider implementing Determine the Attractiveness Scores (AS)

158 QSPM Quantitative Strategic Planning Matrix
Compute the total Attractiveness Scores Compute the Sum Total Attractiveness Score

159 Strategic Alternatives
QSPM Strategic Alternatives Key Internal Factors Management Marketing Finance/Accounting Production/Operations Research and Development Computer Information Systems Strategy 3 Strategy 2 Strategy 1 Weight Key External Factors Economy Political/Legal/Governmental Social/Cultural/Demographic/Environmental Technological Competitive

160 QSPM

161 QSPM Limitations: Requires intuitive judgments and educated assumptions Only as good as the prerequisite inputs

162 QSPM Positives: Sets of strategies examined simultaneously or sequentially Requires the integration of pertinent external and internal factors in the decision-making process

163 Cultural Aspects of Strategy Choice
Culture: The set of shared values, beliefs, attitudes, customs, norms, personalities, heroes, and heroines that describe a firm

164 Cultural Aspects of Strategy Choice
Culture: Successful strategies depend on degree of support from a firm’s culture

165 Politics of Strategy Choice
Politics in organizations: Management hierarchy Career aspirations Allocation of scarce resources

166 Politics of Strategy Choice
Political tactics for strategists: Equifinality Satisfying Generalization Focus on Higher-Order Issues Provide Political Access on Important Issues

167 Role of A Board of Directors
Duties and Responsibilities: Control and oversight over management Adherence to legal prescriptions Consideration of stakeholder interests Advancement of stockholders’ rights

168 What type’s of strategies?
Discussion Nike vs Reebok Kijang vs Kuda Nokia vs Sony Ericson What type’s of strategies?

169 Discussion Pepsi vs Coke Mc Donald vs KFC Who will be winner?

170 Strategy Analysis and Choice
This is the end of the PRESENTATION Strategy Analysis and Choice Ir. Erlinda Muslim, MEE Nip