10 1 Key Issues Facing Multibusiness Corporations Portfolio
제 10 장 다각화 기업의 전략경영 1. 다각화 기업의 주요 전략적 이슈 Key Issues Facing Multibusiness Corporations Portfolio Decisions (사업 포트폴리오의 구성 ) 기업의 사업구조와 자원배분에 대한 전략적 의사결정 Multibusiness Corporations Role of the Corporate center 본사조직의 사업부문에 대한 지원과 통제 (본사조직의 역할) Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 3. 다각화의 유형 Types of diversification 보유하고 있는 사업의 관련성에 따라 Type of Diversification 주력사업 매출비율 Single Business 95% 이상 Dominant Business 70~95% Related Constrained 70%미만 높다 Related Linked 70%미만 낮다 Unrelated 70%미만 거의 없다 Freechal Management Consulting Group 사업간 관련성
제 10 장 다각화 기업의 전략경영 4. 다각화 전략의 유형 Constrained vs. Linked Diversification Constrained Diversification Linked Diversification 특정 핵심역량 중심 긴밀한 연결 핵심역량의 사업간 국한된 공유 Pet foods Canned soup Electrical Power Generation Powdered Drink mixes Consumer Product Marketing Skills Instant coffee Nuclear Power Plants Record clubs Cereals Snack foods Direct mail Freechal Management Consulting Group Broadcasting Programming
제 10 장 다각화 기업의 전략경영 5. 다각화 수준과 경영성과 Performance of Diversification 다각화 수준과 경영성과와의 관계 Company Performance Cost of Diversified Operations • Compromise Costs • Coordination Costs • Inflexibility Costs Extent of Diversification Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 6. 다각화 전략의 성공조건 Conditions for Diversification Success The Attractiveness Test (산업의 매력도) Diversification Success The Cost-of-Entry Test (진입비용) The Better-off Test (시너지 효과) The industries chosen for diversification must be structurally attractive or capable of being made attractive. The cost of entry must not capitalize all the future profits. Either the new unit must gain competitive advantage from its link with the corporation or vice versa. Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 7. 다각화 기업의 도전 Faces Challenging Multibusiness Corporations 다각화 기업이 직면한 다양한 도전 Capital Market Product Market • Increased focus on shareholder value Multibusiness Corporations • More active M&A market • Deregulation/Market opening • Increasing customer sophistication • Increasing competition from global and nontraditional players • Pressure for corporate governance reform Organization • Erosion of scale advantage • Increasing complexity/coordinatio n cost • Bureaucratic inertia Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 8. 포트폴리오의 관리기법 Portfolio Planning Models 포트폴리오 관리기법 Benefits BCG Growth/Share Matrix • Provide objective, fact-based evaluation of business portfolio in both strategic and financial terms. GE/Mac. Kensey 9 -Box Matrix Market-Activated Corporate Strategy(MACS) Framework • Facilitate more effective resources allocation decisions among business units. • Provide a common language for prioritizing strategic missions and setting performance targets among businesses. 9. BCG Matrix 10. GE/Mac. Kensey Matrix 12. MACS 분석 Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 10. GE/Mac. Kensey 9 -Box Matrix GE/Mc. Kinsey 9 -Box Matrix 시장의 매력도와 사업의 경쟁력을 고려 사업들에 대한 자원배분 우선순위를 결정 Invest/grow Selcetivity/Manage for earnings Market Attractiveness • Market size • Market growth • Profitability • Competitive intensity • Technologic al change • Government regulation Harvest/divest High Medium Build selectively Protect Invest to build position and invest to grow Limited expansion or harvest Selectively/ manage for earnings Build selectively Divest Manage for earnings Protect and refocus Low Medium High Freechal Management Consulting Group • Market share • Financial performance • R&D capability • Marketing/sales capability • Managerial capability Competitive Position
제 10 장 다각화 기업의 전략경영 12. MACS 분석 Market-Activated Corporate Strategy(MACS) Framework 사업들의 가치창조 가능성과 기업의 상대능력 기준으로 평가 • Industry attractiveness • Competitive position • Restructuring/rationalization opportunities Value-Creation Potential in Business Unit • Corporate center skills • Business unit linkages • Taxation/valuation High Medium Low Top priority Priority Manage for cash Divest or build skills Divest or liquidate ‘Natural Owner’ Relative ability to extract value ‘One of the Pack’ differences Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 13. 리스트럭처링을 위한 5각형 모델 Pentagon Framework for assessing Restructuring Opportunities 다각화 기업의 리스트럭처링을 위한 5각형 모델 Current market value Current perceptions gap Company value as is Maximum restructuring opportunity 1 2 5 Optimal restructured value RESTRUCTURING Strategic and operating opportunities Potential value with internal improvements FRAMEWORK 3 4 Disposal/ acquisition opportunities Financial engineering opportunities Potential value with internal and external improvements Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 16. 리스트럭처링의 성공확률 Success Rate of Restructuring Programs Financial Restructuring Strategic Restructuring Extensive Restructuring 32% 70% Moderate Restructuring 13% 41% Companies engaged in fundamental and extensive restructuring outperform others by 100 percent or more Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 19. 본사조직의 경영관리 유형 Types of Parenting Style 본사조직이 사업부문에 취할 수 있는 경영관리 기능의 3가지 유형 High Strategic Planning Strategic Control Corporate Planning Influence Financial Control Low Flexible Tight Strategic Tight Financial Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 20. 시너지의 유형 Style of synergy Shared Know-How Shared Tangible Resources Pooled Negotiation Power Coordinated Strategies Vertical Integration Combined Business Creation Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 21. 수평적 조직 메카니즘 Organizational Mechanisms for Achieving Synergies 사업단위간 시너지 제고를 위한 수평적 조직 메커니즘 활옹 Organizational Structure Management Systems Human Resource Practices • Grouping business units into groups or sectors • Partial centralization of shared activities • Interdivisional task forces or committees • Coordinated joint strategic planning • Guidelines and rules on transfer pricing and other shared activities • Incentive system emphasizing group or corporate results • Cross-business unit job rotation • Firmwide role in hiring and training • Cross-business unit forums and meetings Freechal Management Consulting Group
제 10 장 다각화 기업의 전략경영 22. 본사 서비스 기능 & 23. 선별적 사용 이유 Shared Central Functions and Services Strategic Planning Finance/ Accounting Human Resources Management Legal Services Public Relations Central R&D Selective Use of Shared Service Units Benefits Costs • Lack of responsiveness • Critical mass • High costs • Scale economies • Output not meeting actual user demands • Support development of key skills • Dilution of business unit autonomy Trend is to move towards decentral solutions or outsourcing “Decentral set-up is preferable unless central is clearly better” Freechal Management Consulting Group MIS
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