Chapter 5

Strategic Management

Strategies in Action
(modifikasi)
M. Irhas Effendi

S1-2016

Ch. 5-1

Comprehensive Strategic
Management Model
External
Audit

Chapter 3

Vision
&
Mission
Statements

Straegic
In Action
Long-Term
Objectives

Generate,
Evaluate,
Select
Strategies

Implement
Strategies:
Mgmt Issues

Implement
Strategies:
Marketing,
Fin/Acct,
R&D, CIS

Measure &
Evaluate
Performance

Chapter 5

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Chapter 2
Internal
Audit

Chapter 4

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Ch. 5-2

Garis Besar Bab

Tujuan Jangka Panjang

Tipe-tipe Strategi

Strategi Integrasi

MIE -- 2005

Ch 5 -3

Strategies in Action
Long-Term Objectives:

Results expected from pursuing

certain strategies
Tme frame 2 to 5 years

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Ch. 5-4

Strategies in Action
Nature of Long-Term Objectives
Quantitative
Measurable
Realistic
Understandable
Challenging
Hierarchical
Obtainable
Congruent among organizational units

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Ch. 5-5

Strategies in Action
Nature of Long-Term Objectives (Contd)
Objectives are associated with a time line and stated in
terms:
Growth in assets
Growth in sales
Profitability
Market share
Diversification
Integration
EPS
Social responsibility
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Ch. 5-6

Strategies in Action
Nature of Long-Term Objectives (Contd)

Objectives are the basis for:

Designing jobs
Organizing activities
Providing direction
Organizational synergy
Standards for evaluation

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Ch. 5-7

Long-Term Objectives
Para ahli strategi harus
menghindari - Managing by Extrapolation
Managing by Crisis
Managing by Subjectives
Managing by Hope

MIE -- 2005

Ch 5 -8

Tujuan Jangka Panjang

Macam-macan Pengukuran Kinerja
pada Level Organisasi
Level
Organisasi

Dasar Bonus Tahunan/Merit Pay

Korporasi

75% pada Tujuan jangka panjang

25% pada Tujuan jangka pendek

Divisi

50% pada Tujuan jangka panjang

50% pada Tujuan jangka pendek

Fungsional

25% pada Tujuan jangka panjang

75% pada Tujuan jangka pendek

MIE -- 2005

Ch 5 -9

Keuangan vs. Tujuan Strategi

Tujuan Keuangan
Growth in revenues
Growth in earnings
Higher dividends
Higher profit margins
Higher Earnings per share
Improved cash flow

MIE -- 2005

Ch 5 -10

Keuangan vs. Tujuan Strategi

Tujuan Strategi
Larger market share
Quicker on-time delivery than rivals
Quicker design-to-market times than rivals
Lower costs than rivals
Higher product quality than rivals
Wider geographic coverage than rivals

MIE -- 2005

Ch 5 -11

Tipe Strategi
Perusahaan Besar

Corp
Level

Division Level

Functional Level

Operational Level

MIE -- 2005

Ch 5 -12

Tipe Strategi
Perusahaan Besar

Corp
Level

Division Level

Functional Level

Operational Level

MIE -- 2005

Ch 5 -13

Tipe Strategi
Perusahaan Kecil

Company
Level

Functional Level

Operational Level

MIE -- 2005

Ch 5 -14

Balanced Scorecard
Robert Kaplan & David Norton - Strategy evaluation & control technique
Balance financial measures with non-financial
measures
Balance shareholder objectives with customer
& operational objectives

MIE -- 2005

Ch 5 -15

GRAND STRATEGY

Concentratio
(internal/Intensive)
Growth

GRAND
STRATEGIES

Stability

Vertical integration
(Eksternal)
Diversification
(Eksternal)

Joint Venture
Defensive

Retrechment
divestiture
liquidation

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Ch. 5-16

Growth strategies (Kotler

1997 )
Intensive
Growth

Market
Penetration
Market
Development

Integrative
Growth

Diversification
Growth

Backward
Integration
Forward
Integration

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Concentric
Diversification
Horizontal
Diversification

Ch. 5-17

ALTERNATIF STRATEGI UTAMA

Mengubah
definisi bisnis

Produk

Pasar

Fungsi

Perluasan

Menambah lini
baru

Integrasi
vertikal

Penciutan

Meninggalkan lini
lama

Mencari
pemakai baru
atau
daerah
Meninggalkan
saluran
distribusi

Menjadi
perusahaan
yang koptif

Mempertahankan

Mempertahank
an

Mempertahank
an

Perluasan

Mencari pengguna
baru

Meningkatkan
bagian pasar
(penetrasi)

Meningkatkan
kapasitas
pabrik

Penciutan

Menurunkan
pengembangan
produk

Mengurangi
bagian pasar

Menurunkan
proses R & D

Mantap
(stabil)

Melakukan
perubahan
pengepakan

Mempertahank Mempertahank
an bagian pasar an efisiensi
produksi

Definisi yang
stabil

Perubahan
langkah

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Ch. 5-18

Strategies in Action

Vertical Integration Strategies

Forward integration
Backward integration
Horizontal integration

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Ch. 5-19

Full and Taper Integration

Full Integration

Taper Integration

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Ch. 5-20

Strategies in Action
Forward
Integration
Defined

Example

Meperoleh
kepemilikan
atau
meningkatkan
kendali atas
distributor
atau dealer
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General Motors
mengakuisisi 10
persen saham
dealer

Ch. 5-21

Strategies in Action
Guidelines for Forward Integration
Distributor yang ada saat ini mahal, tidak
dapat diandalkan, tidak dapat memenuhi
kebutuhan perusahaan
Kualitas distributor saat ini terbatas
Bila perusahaan bersaing dalam industri yang
diharapkan sedang tumbuh
Keunggulan berproduksi stabil sangat tinggi
Distributor yang ada saat ini memiliki profit
margin yang tinggi

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Ch. 5-22

Strategies in Action
Backward
Integration

Example

Defined
Mendapatkan
kepemilikian
atau
meningkatkan
kendali atas
pemasok
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Hotel membeli
perusahaan mebel.

Ch. 5-23

Strategies in Action
Guidelines for Backward Integration
Pemasok yang ada saat ini mahal, tidak dapat
diandalkan, tidak dapat memenuhi kebutuhan
perusahaan
Jumlah pemasok kecil, sedang jumlah pesaing
besar
Sektor industri tumbuh besar
Perusahaan memiliki modal dan sumberdaya
untuk mengelola bisnis baru
Keunggulan dari harga yang stabil sangat
penting
Pemasok yang ada mendapatkan profit
margin yangS1-2016
tinggi
Ch. 5-24

Strategies in Action
Horizontal
Integration
Example
Defined

Mendapatkan
kepemilikan
atau
mengendalika
n pesaing
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Hotel Hilton
membeli Hotel
Promus

Ch. 5-25

Strategies in Action
Guidelines for Horizontal Integration
Perusahaan dapat memperoleh monopoli
tanpa menentang aturan yang berlaku
Bersaing di industri yang sedang tumbuh
Meningkatnya skala ekonomi memberikan
keunggulan bersaing yang besar
Ada keraguan tidak memiliki kehlian
managerial atau membutuhkan sumberdaya
khusus

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Ch. 5-26

Strategies in Action

Intensive Strategies

Market penetration
Market development
Product development

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Ch. 5-27

Three Intensive Growth Strategies:

Ansoffs Product/Market Expansion
Grid
Existing
products

Existing
markets

1. Market
penetration

New
markets

2. Market
development

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New
products

3. Product
development

4. Diversification

Ch. 5-28

Strategies in Action
Market
Penetration
Example

Defined
Meningkatkan
pangsa pasar
dengan produk
dan jasa yang
ada pada pasar
yang ada
dengan usahausaha
pemasaran

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Ameritrade, the online broker, tripled

its annual
advertising
expenditures to
$200 million to
convince people
they can make their
own investment
Ch. 5-29

Strategies in Action
Guidelines for Market Penetration
Pasar yang ada belum jenuh
Tingkat penggunaan pelanggan yang ada
dapat ditingkatkan secara signifikan
Market shares of competitors declining while
total industry sales increasing
Increased economies of scale provide major
competitive advantages

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Ch. 5-30

Strategies in Action
Market
Developmen
t

Defined

Example

Memperkenalka
n produk atau
jasa yang ada
pada daerah
atau pasar baru
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Britains leading
supplier of buses,
Henlys PLC,
acquires Blue Bird
Corp. North
Americas leading
school bus maker.
Ch. 5-31

Strategies in Action
Guidelines for Market Development
Adanya saluran distribusi baru yang dapat
diandalkan, murah, dan berkualitas.
Bila perusahaan sangat sukses dalam
kegiatannya
Adanya pasar baru yang belum tergarap dan
belum jenuh
Adanya modal dan sumberdayamanusia yang
dapat digunakan untuk perluasan operasi
Adanya kelebihan kapasitas
Industri dasarnya dengan cepat menjadi
global

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Ch. 5-32

Strategies in Action
Product
Developmen
t

Defined

Mencari
kenaikan
penjualan
dengan
memperbaiki
produk yang
telah ada atau
mengembangka
n yang baru
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Example

Apel
mengembangkan
Chip G4 yang
memiliki kecepatan
500 megahertz.

Ch. 5-33

Strategies in Action
Guidelines for Product Development

Produk berada pada tahap kedewasaan di siklus

kehidupannnya
Bila organisasi bersaing pada karekteristik teknologi
yang berkembang cepat
Bila pesaing menawarkan produk dengan kualitas yang
lebih baik dengan harga yang sebanding (pantas)
Bersaing dalam industri yang tumbuh tinggi
Meniliki kapabilitas riset dan pengembangan yang kuat

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Ch. 5-34

Strategies in Action

Diversification Strategies

Concentric diversification
Conglomerate diversification
Horizontal diversification

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Ch. 5-35

Strategies in Action
Concentric
Diversificati
on
Example

Defined

Menambah
produk atau jasa
baru, yang
masih berkaitan
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Sebuah bank
membeli
perusahaan
asuransi.

Ch. 5-36

Strategies in Action
Guidelines for Concentric Diversification

Bersaing dalam industri tanpa pertumbuhan atau

lambat
Bila penambahan produk baru dan berkaitan akan
secara signifikan menambah penjualan produk yang
sudah ada
Produk baru dan berkaitan dapat ditawarkan dengan
harga yang bersaing
Produk yang ada berada dalam tahap penurunan dalam
siklus produknya
Memiliki tim manajemen yang kuat

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Ch. 5-37

Strategies in Action
Conglomerate
Diversificati
on
Defined

Example

Menambah
produk atau jasa
baru yang tidak
berkaitan
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H&R Block, the top

tax preparation
agency, said it will
buy discount stock
brokerage Olde
Financial for $850
million in cash.
Ch. 5-38

Strategies in Action
Guidelines for Conglomerate Diversification
Penjualan dan laba tahunan mengalami
penurunan
Ada modal dan bakat (talenta) manejerial
yang diperlukan untuk sukses di industri baru
Ada sinergi keuangan antara perusahaan
yang dibeli dan yang membeli
Pasar yang ada untuk produk saat ini sudah
jenuh

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Ch. 5-39

Strategies in Action

Horizontal
Diversificati
on

Example

Defined

Menambah
produk atau jasa
baru yang tidak
berkaitan untuk
pasar yang ada
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The New York

Yankees baseball
team are merging
with the New Jersey
Nets basketball
team.
Ch. 5-40

Strategies in Action
Guidelines for Horizontal Diversification
Pendapatan dari produk yang ada akan
meningkat secara signifikan dengan
penambahan produk atau jasa baru yang
tidak berkaitan
Persaingan yang ketat dan atau tidak tumbuh
yang ditunjukkan adanya keuntungan yang
rendah
Saluran distribusi yang ada dapat digunakan
untuk memsarkan produk baru kepada pasar
yang ada
Produk baru tidak berada pada siklus produk
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Ch. 5-41

Strategies in Action
Defensive Strategies

Joint venture
Retrenchment
Divestiture
Liquidation

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Ch. 5-42

Strategies in Action
Joint Venture
Example

Defined

Dua atau lebih

perusahaan
mensposnori
untuk
membentuk
perusahaan
baru terpisah
dengan tujuan
yang sama

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Lucent Technologies
and Philips
Electronic NV
formed Philips
Consumer
Communications to
make and sell
telephones.
Ch. 5-43

Strategies in Action
Guidelines for Joint Venture

Kombinasi perusahaan swasta dan publik dapat secara

sinergis dikombinasikan
Perusahaan domestik dan perusahaan asing
membentuk usaha patungan, dapat memperoleh
sumberdaya lokal dan mengurangi risiko
Kompetensi khusus dua perusahaan atau lebih dapat
saling melengkapi
Bila seuatu proyek berisiko besar memerlukan
sumberdaya besar, namun juga memiliki potensi
keuntungan yang besar.
Dua atau lebih perusahaan kecil memiliki masalah
dalam bersaing dengan perusahaan besar
Ada kebutuhan untuk memperkenalkan teknologi baru
secara cepat
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Ch. 5-44

Strategies in Action
Retrenchment
Defined

Memgubah
pengelompokan
melalui
pengurangan
biaya dan aset
untuk membalik
penjualan dan
laba yang
menurun.
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Example

Singer, the sewing

machine company,
declared
bankruptcy.

Ch. 5-45

Strategies in Action
Guidelines for Retrenchment
Perusahaan gagal mencapai tujuan dan
Tujuannya secara konsisten dalam jangka
panjang, namun memiliki distinctive
competencies
Firm is one of the weaker competitors
Inefficiency, low profitability, poor employee
morale, and pressure from stockholders to
improve performance.
When an organizations strategic managers
have failed
Very quick growth
to large organization
where a
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Ch. 5-46

Strategies in Action
Divestiture
Example

Defined

Selling a
division or part
of an
organization
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Harcourt General,
the large US
publisher, is selling
its Neiman Marcus
division.

Ch. 5-47

Strategies in Action
Guidelines for Divestiture
When firm has pursued retrenchment but
failed to attain needed improvements
When a division needs more resources than
the firm can provide
When a division is responsible for the firms
overall poor performance
When a division is a misfit with the
organization
When a large amount of cash is needed and
cannot be obtained from other sources.

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Ch. 5-48

Strategies in Action
Liquidation

Defined

Example

Selling all of a
companys
assets, in parts,
for their
tangible worth

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Ribol sold all its

assets and ceased
business.

Ch. 5-49

Strategies in Action
Guidelines for Liquidation
When both retrenchment and divestiture have
been pursued unsuccessfully
If the only alternative is bankruptcy,
liquidation is an orderly alternative
When stockholders can minimize their losses
by selling the firms assets

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Ch. 5-50

Michael Porters Generic Strategies

Cost Leadership Strategies

Differentiation Strategies

Focus Strategies

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Ch. 5-51

Types of Business-Level
Strategies

Business-level strategies are intended

to create differences between the firms
position relative to those of its rivals
To position itself, the firm must decide
whether it intends to perform activities
differently or to perform different
activities as compared to its rivals

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Ch. 5-52

Five Generic Strategies

Broad
target

Cost

Uniqueness

Cost
Leadership

Differentiation

Integrated Cost
Leadership/
Differentiation
Narrow
target

Competitive Scope

Competitive Advantage

Focused Cost
Leadership

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Focused
Differentiation
Ch. 5-53

Cost Leadership
Strategy
An integrated set of actions designed to
produce or deliver goods or services at
the lowest cost, relative to competitors
with features that are acceptable to
customers
relatively standardized products
features acceptable to many customers
lowest competitive price
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Ch. 5-54

Cost Leadership
Strategy
Cost saving actions required by this strategy:
building efficient scale facilities
tightly controlling production costs and
overhead
minimizing costs of sales, R&D and
service
building efficient manufacturing facilities
monitoring costs of activities provided
by outsiders
simplifying production processes
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Ch. 5-55

Differentiation Strategy
An integrated set of actions designed by a
firm to produce or deliver goods or
services (at an acceptable cost) that
customers perceive as being different in
ways that are important to them

price for product can exceed what the firms

target customers are willing to pay
nonstandardized products
customers value differentiated features
more than they value low cost
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Ch. 5-56

Differentiation Strategy

Value provided by unique features and

value characteristics
Command premium price
High customer service
Superior quality
Prestige or exclusivity
Rapid innovation

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Ch. 5-57

Differentiation Strategy
Differentiation actions required by this
strategy:
developing new systems and
processes
shaping perceptions through
advertising
quality focus
capability in R&D
maximize human resource
contributions
S1-2016 through low turnover
Ch. 5-58

Factors That Drive

Differentiation

Unique product features

Unique product performance
Exceptional services
New technologies
Quality of inputs
Exceptional skill or experience
Detailed information

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Ch. 5-59

Focused Business-Level
Strategies
A focus strategy must exploit a narrow
targets differences from the balance of
the industry by:
isolating a particular buyer group
isolating a unique segment of a
product line
concentrating on a particular
geographic market
finding their niche
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Ch. 5-60

Factors That May Drive

Focused Strategies

Large firms may overlook small niches

Firm may lack resources to compete in
the broader market
May be able to serve a narrow market
segment more effectively than can
larger industry-wide competitors
Focus may allow the firm to direct
resources to certain value chain
activities to build competitive
advantage
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Ch. 5-61