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1、Profit Pools and Core CompetenceDarral G Clarke Professor of Management The Marriott School Brigham Young University中国培训师大联盟www.china-*1Darral G. Clarke for BM 499Profit Pools: A Fresh Look at StrategyOrit Gadiesh and James L. Gilbert Harvard Business Review May-June 1998*2Darral G. Clarke for BM 49
2、9THE PC INDUSTRYS PROFIT POOLnValue chain focusnAxesnVerticaloperating marginnHorizontalshare of industry data40%30201000100% share of industry revenuemicroprocessorsother componentspersonal computerssoftwareperipheralsservicesThe value chain for the PC industry includes six key activities; the prof
3、itability of the activities varies widely. Manufacturers compete in the largest but least-profitable segment of the chain.Date3Darral G. Clarke for BM 499The Profit Pool LensnThe profit pool is the total profit earned in an industry at all points along the industrys value chainnSegment profitability
4、 may vary by customer group, product category, geographic market, or distribution channelnProfit concentration may be very different than revenue concentrationnShape of the profit pool reflects the competitive dynamics of a business Interactions of companies and customers Competitive strategies of c
5、ompetitorsnProduct pools are not stagnantDate4Darral G. Clarke for BM 499THE U.S. AUTO INDUSTRYS PROFIT POOL100%operating marginsource: Harvard Business Review, May-June 1998auto rental25%151050 0share of industry revenueauto manufacturingnew car dealersused car dealersauto loans auto insuranceafter
6、market parts20leasing warrantygasoline service repairThe automotive industry encompasses many value-chain activities. The way that profits and revenues are distributed among these activities varies greatly. The most profitable areas of the car business are not the ones that generate the biggest reve
7、nues.Date5Darral G. Clarke for BM 499Profit Pools: Company ExamplesCompaniesAutomakersU-HaulElevators (OTIS)Harley DavidsonPolaroidCore BusinessAuto manufacturingTruck RentalElevator ManufacturingMotorcyclesInstant Photography CamerasSources of Highest ROIAuto leasing, insurancePacking materials, st
8、orageServiceAccessories (consumer products), leasing, service, restaurantsFilmDate6Darral G. Clarke for BM 499Managerial ImplicationsnFocus on growth and market share can lead a company to focus on unprofitable segments of an industrynTodays deep revenue revenue pool may be tomorrows dry hole.nThe g
9、oal should be to focus on profitable opportunitiesnIndustry should be considered more broadly than traditional definitionnAutomobile industry includes Component manufacture and supply New car assembly and delivery New car warrantee and service New car financing and insurance Used car sales and servi
10、ceDate7Darral G. Clarke for BM 499Turbulent industriesnProfit pools are especially important and useful in industries undergoing deregulation and/or technological changenSuch changes can open new profit pool opportunities and drain old onesnChoke points may change or be eliminatednOpportunities for
11、either forward or vertical integration may emergenCurrent vertical integration may be disintermediatedDate8Darral G. Clarke for BM 499Creating and managing a profit poolnProfit pool analysis may indicate new opportunities or threatsnImperativesnBe open to a new perspective on your business and indus
12、trynDeveloping new strategy may require overturning elements of the current strategynBe open to reevaluate the role played by current competitorsnBe vigilant to identify possibility that new entrants may seek to enter your industry with radical strategies Date9Darral G. Clarke for BM 499Looking Ahea
13、d: Profit Pools and the Five ForcesnProfit pools are computed by multiplying the size of the revenue by the unit profit marginnEssentially an accounting process- no theorynMost valuable in situations in which external conditions are essential stable and/or unimportantn(Often dominated by internal da
14、ta alone)nThe five forces tells us (which will study next)nthe underlying determinants that determine both the revenue size and the unit profit marginnThe profit drivers which allow us to forecast the direction of changeDate10Darral G. Clarke for BM 499Marakon RunnersThomas A. Stewart Fortune Sept.
15、28, 1998*11Darral G. Clarke for BM 499Marakon Associatess Approach to Corporate StrategynConsultants to many large corporationsnCoca Cola, HP, GM, CitiCorp, etc.nClients have returns 3.1% higher than industry peer groupnGoal is to increase shareholder value through analysis of economic profitnDeep d
16、rilling in business data to measure value creation Product segments Customer segmentsDate12Darral G. Clarke for BM 499How Strategy HappensnLearning where value is creatednWaterfall charts by product and customer segmentsnEvaluating strategynIndustry average profit per unitnCompanys profit vs industry averagenManaging valuenCurrent strategynChange product focusnChange customer focusDate13Darral G. Clark
