文档介绍：Chapter 6 Corporate-Level Strategy - Creating Value through Diversification
Chapter 6
Corporate-Level Strategy: Creating Value through Diversification
Strategic Management: petitive advantages
Gregory G3>. Dess
G. T. Lumpkin
Marilyn L. Taylor
Part 2: Strategic Formulation
Making Diversification Work
What businesses should a pete in?
How should these businesses be managed to jointly create more value than if they were freestanding units?
Making Diversification Work
Diversification initiatives must create value for shareholders
Mergers and acquisitions
Strategic alliances
Joint ventures
Internal development
Diversification should create synergy
Business 2
Business 1
Synergy
Related businesses (horizontal relationships)
Sharing tangible resources
Sharing intangible resources
Business 2
Business 1
Production facilities
Distribution channels
Favorable reputation
Patents, copyrights, etc.
Specialized skills
Manufacturing facilities
Synergy
Unrelated businesses (hierarchical relationships)
Value creation derives from corporate office
Leveraging support activities
Technology development
Business 2
Business 1
Procurement
Information systems
Human resource mgmt
Firm infrastructure
Creating Value
Leveraging petencies
3M leverages petencies in adhesives technologies to many industries, including automotive, construction, and munications
Sharing activities
McKesson, a large pany, sells many product lines, such as pharmaceuticals and liquor, through its superwarehouses
Related Diversification: Economies of Scope
Exhibit Creating Value through Related and Unrelated Diversification
Related Diversification: Market Power
Pooled negotiating power
The Times pany increases its power over customers by providing “one-stop shopping” for advertisers to reach customers through multiple media—television and newspapers—in several huge markets such as New York and Chicago
Vertical integration
Shaw industries, a giant carpet manufacturer