电信业恢复对策之管理策略建议(1)

RemediesforTelecomRecoveryProject-ManagerialStrategiesRecommendations–FinalReportByRaulL.KatzBoozAllenHamiltonResearchprogram“RemediesfortheTelecomIndustry”ColumbiaInstituteforTele-InformationColumbiaBusinessSchoolOctober3,20031TABLEOFCONTENTSI.BackgroundandApproachII.UnderstandingtheProblemII.1.TheUSTelecommunicationsIndustryisnotearningitscostofcapitalII.2.TheIndustrystructurecomprisestoomanyplayersII.3.TherearesignificantshortfallsincorporategovernanceIII.SpecificManagerialStrategiesIII.1.ConsiderindustryconsolidationIII.1.1.AchievehorizontalconsolidationinwirelessIII.1.2.Promoteintegrationacrosswireless,localandlongdistanceIII.1.3.PromotedevelopmentofmarketsforintermediateserviceIII.2.ImplementanewoperatingparadigmIII.2.1.ReduceoperatingexpensesanddesigntheorganizationforcostflexibilityIII.2.1.1OutsourcefunctionsthatarenotcriticaltocompetitiveadvantageIII.2.1.2.ResizeGeneralandAdministrativeCostsIII.2.1.3.OptimizethesupplychainIII.2.1.4.ReducecostsofretaildistributionnetworksIII.2.2.RedesigntheorganizationstructureIII.2.3.PostponecapitalinvestmentsIII.3.Promoteintra-industrycollaborationIII.3.1.Pursueindustry-widenetworksharingagreementsinwirelessIII.3.2.CreateawirelessindustrysponsoredtechnicalorganizationinchargeofconductingtestingandtypeapprovalonbehalfofalloperationsIII.3.3.Createajointventureownedbyagroupofwirelessoperatorsinchargeofpurchasingandrefurbishinglow-endhandsetsIII.3.4.Promotecollaborationacrosswirelineoperatorstoenablethesearchforindustry-widesolutionstoinformationsystemsbottlenecks(e.g.billing,financialsystems)III.4.SignificantlyenhancecorporategovernanceorganizationandprocessesIII.5.PutinplacestrategiesaimedatgrowingrevenuesIII.5.1.Improvemanagementofthecustomerbase,byreducingchurnorenhancingvaluegenerationofexistingconsumersIII.5.2.Furtherinnovationaroundthebundlingconceptasastrategyforgrowingshareofwallet2IV.CONCLUSIONSBIBLIOGRAPHYAPPENDICESA.MembersofAdvisoryCommitteeB.ScheduleofWorkshopsandAgendasC.ListofConceptPapersSubmittedtoWorkshopsD.MinutesofWorkshopsE.PresentationtoFinalConference1I.BACKGROUNDANDAPPROACH:TheobjectiveoftheManagerialStrategiesModuleofthe“RemediesforTelecomRecovery”projectwastoidentifypossiblemanagementactionsthatcouldbetakentoaddresssomeoftheindustry’sproblems.Themodule’sunderlyingpremisewasthatthewidespreadpoorperformanceoftheindustrycannotbeblamedonspecificmanagementteams,andhastobeconsequentlyrelatedtofundamentalstructuralfactors.Withthisobjectiveinmind,agroupofindustryexecutivesandacademics1wasassembledtodiscusspotentialmanagementinitiatives.Thediscussionwasorganizedaroundfourbroadcategories.Eachcategorywasthetopicofaworkshoptowhichconceptpapersweresubmittedanddiscussed2.Topicsaddressedineachworkshopincludedthefollowing:•WorkshopI:Isthereaneedtodevelopanewindustrystructure?–Valueofscaleandscope··Vertical/horizontalintegration(valueofthemerger)–Inter-playercollaboration–Valuechainfragmentation(wholesale/retail)··Roleoftheregulatoryframework•WorkshopII:Cantheindustryachieveanadequatereturnoninvestedcapital?–Thetelecomindustrycomparedtootherindustries(historicalanalysis)–Driversofoperatorperformance(Whysomeplayersperformbetterthanothers?)–PrescriptiveanalysisofROICimprovement··Restructuringdebt,includingdeclaringbankruptcy··Reducingoperatingexpensesandcapex··Toplinegrowth•WorkshopIII:Cantheindustryachieveprofitablegrowth?–Enterprisemarketneeds–Consumermarketneeds–Valueofconvergence(infotainment/telecom,fixed/mobile,content/mobile)•WorkshopIV:Isthereaneedtodevelopanewoperatingparadigm?–Targetsofperformance–Achievingthebenefitsofscaleandscope1SeelistofadvisorycommitteeinAppendixA2Listofconceptpapers,andworkshopminutesareincludedinAppendicesCandD2··Sharedservices··Tailoredbusinessstreams–Organizationstructure:designingforflexibility–Keybusinessprocesses··Capitalplanning:aligningstrategyandbusinesscyclewithinvestments··ProductDevelopment··Capacityforecasting–CorporategovernanceII.UNDERSTANDINGTHEPROBLEM:Inthelastthreeyearswehavewitnessedtheemergenceoffundamentallydifferenttelecommunicationsindustrydynamicsresultinginincreasingpressuresacrossboththewirelineandwirelesssegments:•Slowinggrowth:Basicaccesslinegrowthhasbeennegativein2002(-2.2%in4Q,2001)forthefirsttimesince1932,andhasstagnatedeversince(seeexhibit1).Exhibit1:USAccessLineGrowth(1Q01-1Q03,%)0.6%-2.2%-2.8%-3.8%-3.8%1Q014Q011Q024Q021Q03Source:BoozAllenHamiltonIncrementalwirelesspenetrationhasbeendecreasingsince2000-01,withthelasttwoquartersof2002alreadyshowingclearsignsofslowdowninsubscribergrowth(seeexhibit2).3Exhibit2:USWirelessMarket050100150200250199920002001200220032004E2005E2006E2007E0%5%10%15%20%25%30%SubsY/YGrowthSubscribers(Millions)YearoverYearGrowth(%)050100150200250199920002001200220032004E2005E2006E2007E0%5%10%15%20%25%30%SubsY/YGrowthSubscribers(Millions)YearoverYearGrowth(%)Source:BoozAllenHamiltonOntheotherhand,whilewirelesstraffickeepsongrowing,thisisdrivenprimarilybypriceelasticity.•Severeprice-basedcompetitioninallindustrysegments:Pricinginbasiclocal,longdistance,wireless,andenhanceddatas