Bain战略分析工具profit pool.ppt

9/7/2019DarralG.ClarkeforBM4991ProfitPoolsandCoreCompetenceDarralGClarkeProfessorofManagementTheMarriottSchoolBrighamYoungUniversity9/7/2019DarralG.ClarkeforBM4992ProfitPools:AFreshLookatStrategyOritGadieshandJamesL.GilbertHarvardBusinessReviewMay-June19989/7/2019DarralG.ClarkeforBM4993THEPCINDUSTRY’SPROFITPOOLValuechainfocusAxesVertical—operatingmarginHorizontal—shareofindustrydata40%30201000100%shareofindustryrevenuemicroprocessorsothercomponentspersonalcomputerssoftwareperipheralsservicesThevaluechainforthePCindustryincludessixkeyactivities;theprofitabilityoftheactivitiesvarieswidely.Manufacturerscompeteinthelargestbutleast-profitablesegmentofthechain.9/7/2019DarralG.ClarkeforBM4994TheProfitPoolLensTheprofitpoolisthetotalprofitearnedinanindustryatallpointsalongtheindustry’svaluechainSegmentprofitabilitymayvarybycustomergroup,productcategory,geographicmarket,ordistributionchannelProfitconcentrationmaybeverydifferentthanrevenueconcentrationShapeoftheprofitpoolreflectsthecompetitivedynamicsofabusiness•Interactionsofcompaniesandcustomers•CompetitivestrategiesofcompetitorsProductpoolsarenotstagnant9/7/2019DarralG.ClarkeforBM4995THEU.S.AUTOINDUSTRY’SPROFITPOOL100%operatingmarginsource:HarvardBusinessReview,May-June1998autorental25%1510500shareofindustryrevenueautomanufacturingnewcardealersusedcardealersautoloansautoinsuranceaftermarketparts20leasingwarrantygasolineservicerepairTheautomotiveindustryencompassesmanyvalue-chainactivities.Thewaythatprofitsandrevenuesaredistributedamongtheseactivitiesvariesgreatly.Themostprofitableareasofthecarbusinessarenottheonesthatgeneratethebiggestrevenues.9/7/2019DarralG.ClarkeforBM4996ProfitPools:CompanyExamplesCompaniesAutomakersU-HaulElevators(OTIS)HarleyDavidsonPolaroidCoreBusinessAutomanufacturingTruckRentalElevatorManufacturingMotorcyclesInstantPhotographyCamerasSourcesofHighestROIAutoleasing,insurancePackingmaterials,storageServiceAccessories(consumerproducts),leasing,service,restaurantsFilm9/7/2019DarralG.ClarkeforBM4997ManagerialImplicationsFocusongrowthandmarketsharecanleadacompanytofocusonunprofitablesegmentsofanindustryToday’sdeeprevenuerevenuepoolmaybetomorrow’sdryhole.ThegoalshouldbetofocusonprofitableopportunitiesIndustryshouldbeconsideredmorebroadlythantraditionaldefinitionAutomobileindustryincludes•Componentmanufactureandsupply•Newcarassemblyanddelivery•Newcarwarranteeandservice•Newcarfinancingandinsurance•Usedcarsalesandservice9/7/2019DarralG.ClarkeforBM4998TurbulentindustriesProfitpoolsareespeciallyimportantandusefulinindustriesundergoingderegulationand/ortechnologicalchangeSuchchangescanopennewprofitpoolopportunitiesanddrainoldonesChokepointsmaychangeorbeeliminatedOpportunitiesforeitherforwardorverticalintegrationmayemergeCurrentverticalintegrationmaybedisintermediated9/7/2019DarralG.ClarkeforBM4999CreatingandmanagingaprofitpoolProfitpoolanalysismayindicatenewopportunitiesorthreatsImperativesBeopentoanewperspectiveonyourbusinessandindustryDevelopingnewstrategymayrequireoverturningelementsofthecurrentstrategyBeopentoreevaluatetheroleplayedbycurrentcompetitorsBevigilanttoidentifypossibilitythatnewentrantsmayseektoenteryourindustrywithradicalstrategies9/7/2019DarralG.ClarkeforBM49910LookingAhead:ProfitPoolsandtheFiveForcesProfitpoolsarecomputedbymultiplyingthesizeoftherevenuebytheunitprofitmarginEssentiallyanaccountingprocess--notheoryMostvaluableinsituationsinwhichexternalconditionsareessentialstableand/orunimportant(Oftendominatedbyinternaldataalone)Thefiveforcestellsus(whichwillstudynext)theunderlyingdeterminantsthatdetermineboththerevenuesizeandtheunitprofitmarginTheprofitdriverswhichallowustoforecastthedirectionofchange9/7/2019DarralG.ClarkeforBM49911MarakonRunnersThomasA.StewartFortuneSept.28,19989/7/2019DarralG.ClarkeforBM49912MarakonAssociates’sApproachtoCorporateStrategyConsultantstomanylargecorporationsCocaCola,HP,GM,CitiCorp,etc.Clientshavereturns3.1%higherthanindustrypeergroupGoalistoincreaseshareholdervaluethroughanalysisofeconomicprofitDeepdrillinginbusinessdatatomeasurevaluecreation•Productsegments•Customersegments9/7/2019DarralG.ClarkeforBM49913HowStrategyHappensLearningwherevalueiscreatedWaterfallchartsbyproductandcustomersegmentsEvaluatingstrategyIndustryaverageprofitperunitCompany’sprofitvsindustryaverageManagingvalueCurrentstrategyChangeproductfocusChangecustomerfocus9/7/2019DarralG.ClarkeforBM49914LearningwherevalueiscreatedProductsegmentsCustomersegmentsProfit/loss($perunit)Volume(units)Volume(units)09/7/2019DarralG.ClarkeforBM49915EvaluatingStrategyCompanyprofitperunitIndustry-averageprofitperunit9/7/2019DarralG.ClarkeforBM49916ManagingforvalueCurrentstrategyChangeproductfocusChangeCustomerfocusValue9/7/2019DarralG.ClarkeforBM49917ApplicationtoourcasesRetailindustry(Wal*Mart)Softdrinkindustry(Coca-ColaandPepsiCo)Steel(Nucor)andaluminumcans(CC&S)Hitech(Intel,Cisco,andDell)Videogames(Nintendo)Webbusinesses(eBayandYahoo!)9/7/2019DarralG.ClarkeforBM49918TheCoreCompetenceoftheCorporationPrah