贝恩行业分析-RetailCo1.ppt

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1、bcCompiler:Reviewer:RetailCo.Created:August26,1999Copyright©1998Bain&Company,Inc.SevaRozanovThomasShannon1RetailCo2BackgroundApproachConclusionImplementationResultsAgenda2RetailCo2RetailCois$10+B“specialityretail”conglomeratewhosefinancialperformancehasdeterioratedsince1990Background3Retail

2、Co2Achievetopquartileperformancemarket/bookvalue:2.8xreturnonequity:17-18%annualearningsgrowth:10-12%DivestbusinessesthatarepoorfitsPreparethecompanytoweatherchallengingindustryconditionsCreateacompellingvisionandgrowthstrategyFinancialObjectivesStrategicObjectivesBackgroundRetailCoObjectiv

3、es4RetailCo2AgendaBackgroundApproachConclusionImplementationResults5RetailCo2DefinethecharacteristicsofasuccessfulstrategyDeveloparangeofviablestrategicalternativesAssessandprioritisethestrategicalternativesBuildconsensusaroundthepreferredstrategyFullyquantifytheimpactofappropriateactionste

4、psGainfinalapprovalLaunchimplementationApproach6RetailCo2ComponentsofSuccessfulStrategyDoable:EvolvesfromcurrentbusinessmixFitsRetailCo’scorecompetenciesIsfundableDevelopssignificantcompetitiveadvantagesCapitalizesonthevolatilityofretailcyclesUnderstandable:Communicatesaclearandcompellingap

5、proachtothebusinessWillbefullyvaluedbyanalystsandshareholdersDesirable:Createscleareconomicvalueandtop-quartilefinancialresultsbuildsaportfolioofhigh-potentialbusinessesmakesbusinessunitsmorevaluabletoRetailCothantoothersAvoidexcessivelayers,overheads,anddecisionprocessesIsattractivetokeyma

6、nagersintargetedbusinessesandfunctionsApproach7RetailCo2MarketsizeMarketgrowthSegmentreturnsSegmentprofitabilitytrendsCompetitiveintensitySupplierpowerSegmentstabilityMarketAttractivenessMarketshareMarketsharetrendGeographiccoverageCurrentprofitability/EVAEarningstrendManagementteamRetailbr

7、andequityInfrastructureandsystemsCustomervaluepropositionStrategicPositionCorporateexperience,skills,andvaluesCorporatefunctionalsupportCorporateportfoliodevelopmentCross-divisionalsharingFitRetailCobusinesseswereevaluatedalongthreegroupsofcriteriaAppro