6721 external analysis students-1

6721 external analysis students-1 - Today:...

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Today: Finish up from last time Hall’s Model example Strategic vs. public mission statements I’ve added a few slides, so use these to  finish up material from last time New stuff: Environmental analysis External (today); internal (tomorrow)
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Housekeeping: You have the materials for the 10-K  Integration project You have the materials for the industry  analysis (Case 1) You have the documents and links to  industry analysis sources See me about any questions on any of  these
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Housekeeping: You already had the full case analysis  materials (Case 2: Target) The “home” run involves the home.
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Remember this? Relative  Differentiation Relative Cost LOW HIGH LOW  HIGH 
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Quick recap on Hall’s model Each axis is independent Each is relative Relate back to “What business are we  really  in?” Plot our firm vs. competitors in fast food Plot our firm vs. competitors in restaurants Plot our firm vs. competitors in burgers Where do we do best?  How should we  frame ourselves?  
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These fast food firms… Relative  Differentiation Relative Cost LOW HIGH LOW  HIGH 
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A particular firm may be strong or  weak against these competitors Relative  Differentiation Relative Cost LOW HIGH LOW  HIGH 
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But as a niche within restaurants Relative  Differentiation Relative Cost LOW HIGH LOW  HIGH 
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The keys to all of this are: What business are we really  in? Who are our competitors there? How do we stack up against them? If the news is good, great.  If not… Do we stack up better in some other  business…(even though our product may not  change)? And…it’s dynamic, not static:  You can  (and will) move around, even if you  don’t  change a thing!
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Exercise:  For the industry you’re  considering…  Relative    Cost LOW HIGH LOW HIGH  5-6 main competitors  How to define cost?      Single metric?  How to define diff?      3-5 main factors?  Evaluate each      (Do the chart)  Plot them all  Explain what it means
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Mission statements: Strategic (above) Public (next)
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Public mission statements: Mission statements are useful They are for the real world, too They should be 25 words or less They should help me make decisions  about what’s most important, how I  should spend my time, what’s  rewarded
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A bad one: The business objectives of  Household  International  are established within the  framework of our corporate mission: We will be a premier financial services  organization meeting the needs of  individuals and companies through  consumer banking, consumer finance,  commercial finance, insurance,  investments, and related services
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6721 external analysis students-1 - Today:...

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