docESF - Conf 6 (GB)
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ESF - Conf 6 (GB)
Cours n°4 - La Croissance Externe et le Goodwill Strategic and financial stakes of media and communication companies Session 6 The financial markets and strategic stakes Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 1 Session 6 – The financial markets and strategic stakes Agenda : Part 2 1. Understand and analyse a market 2. The Communication companies specificities Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 2 2 Session 6 – The financial markets and strategic stakes Know your client Know his market: size, trends, consumer profiles … Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 3 Session 6 – The financial markets and strategic stakes Porter’s five forces • Designed by Michael Porter (Harvard Business School) as a means of assessing whether or not a sector offers viable business opportunities • Useful for determining the level of risk inherent in an investment • Also a useful tool for understanding level levels of competitiveness within an existing sector • A pre-requisite if you are going to recommend NPD activity for a client or brand Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 4 Session 6 – The financial markets and strategic stakes Porter’s five forces Threat of Entry Bargaining Power of Suppliers Intra-Industry Rivalry Threat of Substitutes Bargaining Power Of Buyers Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 5 Session 6 – The financial markets and strategic stakes Porter’s five forces Threat of Entry Capital Requirements •Minimum Efficient Scale (MES) •Difficulty in brand switching •Access to distribution •Patents, proprietary knowledge Bargaining Power of Suppliers •Supplier concentration •Differentiation of inputs •Switching costs •Cost relative to total purchases Intra-Industry Rivalry •Industry concentration •Fixed costs •Industry growth •Diversity of rivals •High exit barriers •Low customer switching costs Threat of Substitutes •Switching costs •Buyers inclination to substitute •Price-performance tradeoff of substitutes Bargaining Power of Buyers •Buyer concentration •Buyer volume •Product differentiation •Buyer information Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 6 Session 6 – The financial markets and strategic stakes Porter’s five forces Threat of Entry • No significant MES – Low • Significant brand loyalty – Medium •Easy Access to distribution – Low • No patents, proliferation of experience - Low Bargaining Power of Suppliers •Labour – unionised - Medium •Newsprint (paper) - High Intra-Industry Rivalry •10 National Titles – High •Low growth – High •Fixed costs – Medium • Diverse culture of suppliers – High •Exit barriers – Low •Little or zero switching costs - High Threat of Substitutes • Falling Computer & Web access costs – High •Success of digital news sources – High •Falling TV advertising costs, value of online ads - High Bargaining Power of Buyers •Individual consumer power – Low •1 unit per buyer – Low •Differentiated products Medium Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 7 Session 6 – The financial markets and strategic stakes Porter’s five forces Threat of Entry • No significant MES – Low • Significant brand loyalty – Medium •Easy Access to distribution – Low • No patents, proliferation of experience - Low Hi gh Med ium Bargaining Power of Suppliers •Labour – unionised - Medium •Newsprint (paper) - High Intra-Industry Rivalry •10 National Titles – High •Low growth – High •Fixed costs – Medium • Diverse culture of suppliers – High •Exit barriers – Low •Little or zero switching costs - High Hi gh Threat of Substitutes • Falling Computer & Web access costs – High •Success of digital news sources – High •Falling TV advertising costs, value of online ads - High Hi gh Bargaining Power of Buyers •Individual consumer power – Low •1 unit per buyer – Low •Differentiated products Medium Lo w Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 8 Session 6 – The financial markets and strategic stakes PESTEL • Simple means of describing a firm's operating environment • Acts as a prompt to capture all relevant information, ranging from consumer trends to legislation Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 9 Session 6 – The financial markets and strategic stakes Examples Political PESTEL Economic Social Technological Environmental Legal Trade policies, grants, wars, political trends, government policy Home economy, taxation, seasonality, trade cycles, disposable income, inflation, consumer confidence Demographics, attitudes, education levels, trends, attitudes to work, housing trends Competing technology, research funding, licensing, patents, manufacturing advances, IT Customer values, staff attitudes, ecological, EU based factors Legislation, environmental regulations, employment law, consumer protection Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 10 Session 6 – The financial markets and strategic stakes PESTEL Political • Competition Commission investigation • Govt plans to limit number of cars on road Technological • Internet price hunting • Hybrid engines • iPod, Blackberry in-car systems • Blue-tooth hands-free devices Environmental • Excise duty graduated on CO2 emissions • Company car and fuel tax related to CO2 • Demand for greener engine technology Economic • Dip in consumer confidence • Rising interest rates • Road tax increases Social • Increasing affluence of 65+ • Increase in licence holders • The ‘transumer’ • Demand for personalisation Legal • Changes to Block exemption - opening up international retail networks • Congestion charging Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 11 Session 6 – The financial markets and strategic stakes Know your client Know his competition: threats, opportunities, marketing activity … Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 12 Session 6 – The financial markets and strategic stakes SWOT • Credited to Albert Humphrey at Stanford University in the 1960s and 1970s • In completing a SWOT, the firm should be able to answer 4 questions: – How can we use each strength? – How can we stop each weakness? – How can we exploit each opportunity? – How can we defend against each threat? Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 13 Session 6 – The financial markets and strategic stakes Internal External Strengths Opportunities Weaknesses Threats SWOT Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 14 Session 6 – The financial markets and strategic stakes Internal SWOT: STRENGTHS •Advantages of proposition •Capabilities •Competitive advantages •USP's (unique selling points) •Resources, Assets, People •Experience, knowledge, data •Financial reserves, likely returns •Marketing - reach, distribution, awareness •Innovative aspects •Location and geographical •Price, value, quality •Accreditations, qualifications, certifications •Processes, systems, IT, communications •Cultural, attitudinal, behavioural •Management cover, succession WEAKNEESSES • Disadvantages of proposition • Gaps in capabilities • Lack of competitive strength • Reputation, presence and reach • Financials • Own known vulnerabilities • Timescales, deadlines and pressures • Cash flow, start-up cash-drain • Continuity, supply chain robustness • Effects on core activities, distraction • Reliability of data, plan predictability • Morale, commitment, leadership • Accreditations, etc • Processes and systems, etc • Management cover, succession Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre External OPPORTUNITIES •Market developments •Competitors' vulnerabilities •Industry or lifestyle trends •Technology development and innovation •Global influences •New markets, vertical, horizontal •Niche target markets •Geographical, export, import •New USP's •Tactics - surprise, major contracts, etc •Business and product development •Information and research •Partnerships, agencies, distribution •Volumes, production, economies •Seasonal, weather, fashion influences THREATS •Political effects •Legislative effects •Environmental effects •IT developments •Competitor intentions - various •Market demand •New technologies, services, ideas •Vital contracts and partners •Sustaining internal capabilities •Obstacles faced •Insurmountable weaknesses •Loss of key staff •Sustainable financial backing •Economy - home, abroad •Seasonality, weather effects 15 Session 6 – The financial markets and strategic stakes Know your client •Know the company: people, culture, systems, working methods … •Know his brands: strengths and weaknesses; issues and opportunities Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre 16 Session 6 – The financial markets and strategic stakes Market Growth Low High Boston consulting group matrix High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 17 Session 6 – The financial markets and strategic stakes Market Growth Low High Boston consulting group matrix High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 18 Session 6 – The financial markets and strategic stakes Market Growth Low High Boston consulting group matrix High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 19 Session 6 – The financial markets and strategic stakes High ? Market Growth Low Boston consulting group matrix High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 20 Session 6 – The financial markets and strategic stakes Boston consulting group matrix Market Growth Low High ? High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 21 Market Growth Low Boston consulting group matrix: apple High Session 6 – The financial markets and strategic stakes High Share of market Enjeux stratégiques et financiers des entreprises de la communication Année 2009/2010 - Premier semestre Low 22
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