Häufig gestellte Fragen zu: Analyse der Branchenattraktivität
Was ist der Gegenstand dieser Arbeit?
Diese Arbeit analysiert das Branchenumfeld und untersucht die Determinanten der Rentabilität innerhalb einer Branche. Sie konzentriert sich auf die Identifizierung von Profitquellen im Geschäftsumfeld, sowohl auf Unternehmens- als auch auf Geschäftsebene. Dabei werden Konzepte, Prinzipien und Theorien vorgestellt, die auf jede Branche anwendbar sind.
Welche Modelle werden zur Analyse der Branchenattraktivität verwendet?
Die Arbeit nutzt das Struktur-Verhalten-Ergebnis-Modell (S-C-P-Modell) und Porters Fünf-Kräfte-Modell. Das S-C-P-Modell untersucht den Zusammenhang zwischen Branchenstruktur, -verhalten und -ergebnis. Porters Fünf-Kräfte-Modell analysiert die Wettbewerbsintensität und die Rentabilität anhand von fünf Kräften: Wettbewerb durch Substitute, Bedrohung durch neue Anbieter, Rivalität unter bestehenden Wettbewerbern, Verhandlungsmacht der Abnehmer und Verhandlungsmacht der Lieferanten.
Wie ist der Aufbau der Arbeit strukturiert?
Die Arbeit folgt einer logischen Abfolge, angelehnt an Grants Struktur. Sie beginnt mit einer Einführung, geht dann zur Analyse des Branchenumfelds über, bevor sie detailliert Porters Fünf-Kräfte-Modell erklärt. Weitere Abschnitte befassen sich mit der Anwendung der Branchenanalyse, der Definition von Branchen und relevanten Märkten sowie weiterführenden Ansätzen wie Schumpeterianischem Wettbewerb, Hyperwettbewerb und Spieltheorie. Die Arbeit schließt mit der Identifizierung von Schlüsselfaktoren des Erfolgs.
Welche Faktoren bestimmen die Rentabilität einer Branche?
Die Rentabilität einer Branche wird durch drei Faktoren bestimmt: den Wert des Produkts oder der Dienstleistung für den Kunden, die Intensität des Wettbewerbs und die relative Verhandlungsmacht auf verschiedenen Ebenen der Produktionskette. Diese Faktoren sind Bestandteile des Branchenumfelds.
Was sind Porters fünf Wettbewerbskräfte im Detail?
Porters Fünf-Kräfte-Modell umfasst: 1. **Wettbewerb durch Substitute:** Produkte oder Dienstleistungen, die ähnliche Kundenbedürfnisse erfüllen. 2. **Bedrohung durch neue Anbieter:** Neue Unternehmen, die in die Branche eintreten wollen. Hier werden Eintrittsbarrieren wie Kapitalbedarf, Skaleneffekte, Produktdifferenzierung, künstliche Abschreckung und staatliche Regulierungen diskutiert. 3. **Rivalität unter bestehenden Wettbewerbern:** Der Wettbewerb zwischen etablierten Unternehmen in der Branche. 4. **Verhandlungsmacht der Abnehmer:** Die Macht der Kunden, Preise zu beeinflussen. 5. **Verhandlungsmacht der Lieferanten:** Die Macht der Lieferanten, Preise zu beeinflussen.
Welche unterschiedlichen Perspektiven zur Erklärung von Wettbewerbsvorteilen werden betrachtet?
Die Arbeit vergleicht die marktbasierte Sichtweise der Strategie (Fokus auf Schwächen beseitigen) mit der ressourcenbasierten Sichtweise (Fokus auf Stärken ausbauen). Das S-C-P-Modell basiert auf der marktbasierten Sichtweise, während die ressourcenbasierte Sichtweise den Erfolg eines Unternehmens aus der internen Perspektive erklärt, indem die Einzigartigkeit von Ressourcen als Quelle von Wettbewerbsvorteilen hervorgehoben wird.
Welche Literatur wird zitiert?
Die Arbeit zitiert unter anderem Werke von Barney, Grant, Porter, Corsten, Hanusch und Kuhn sowie Ewert und Wagenhofer. Die zitierten Werke befassen sich mit Themen wie Wettbewerbsstrategie, strategische Analyse und Volkswirtschaftslehre.
Inhalt
1 Introduction
2 From Environmental Analysis to Industry Analysis
2.1 Industry environment
3 Analyzing the industry attractiveness
3.1 The structure – conduct – performance model (S – C – P Model)
3.2 Porter’s five forces of competition framework
3.2.1 Competition from Substitutes
3.2.2 Threat of Entry
3.2.2.1 Capital Requirements
3.2.2.2 Economies of Scale
3.2.2.3 Cost advantages independent of scale
3.2.2.4 Product differentiation
3.2.2.5 Contrived deterrence
3.2.2.6 Government Policy as a barrier to entry
3.2.3 Rivalry between established competitors
3.2.4 Bargaining power of buyers
3.2.4.1 Buyers´ Price Sensitivity
3.2.4.2 Relative bargaining power
3.2.5 Bargaining power of suppliers
4 Applying industry analysis
4.1 Forecasting industry profitability
4.2 Strategies to alter industry structure
5 Defining industries and relevant markets
6 Further approaches: Dynamics, Game Theory, and Cooperation
6.1 Schumpeterian Competition
6.2 Hypercompetition
6.3 The Contribution of Game Theory
7 Identifying Key Success Factors
REFERENCES
Barney, Jay B.
“Gaining and Sustaining Competitive Advantage”
(Addison-Wesley-Publishing, 1997)
Grant, Robert M.
“Contemporary Strategy Analysis – concepts, techniques, applications” 3rd-Edition (Malden, Oxford: Blackwell, 1998)
Porter, Michael E.
“On Competition”
(Boston: Harvard Business School Publishing, 1998)
Corsten, H.
„Grundlagen der Wettbewerbsstrategie”
(Stuttgart; Leipzig: Teubner, 1998)
Hanusch, H.; Kuhn T.
„Einführung in die Volkswirtschaftslehre”
(Berlin; Heidelberg: Springer, 1992)
Ewert, R; Wagenhofer, A.
„Interne Unternehmensrechnung”
(Berlin; Heidelberg: Springer, 2000)
1 Introduction
The structure of this work is laid out near by Grant’s structuring due to the logical succession. Within the different points I tried to evince aspects and opinions of other authors.
The topic of this work is analyzing the industry environment. To the classical tasks of the strategically planning appertain the environmental analysis and forecasting. Because the search for a strategy is more or less a quest for profit, it’s necessary to identify the sources of profit in the business environment.
In this case, both cooperate level and business level has a role to play.
Define the industries and markets in which a firm act is the task of cooperative strategy. Fur- ther on the cooperate level decisions are taken about investments in diversification, vertical integration, acquisitions and new ventures, allocation of resources between the businesses of the firm and divestments.
Business strategy concerns decision within a particular industry or market. Main goal is to establish a competitive advantage over rivals. In this context it is also denominated as com- petitive strategy.
The task of this work is to understand competition and the determinants of profitability within an industry. Although every industry is unique, the work should show concepts, principles, and theories that can be applied to any industry.
2 From Environmental Analysis to Industry Analysis
The environmental analysis aims at chances and risks, that itself within the framework of en- trepreneurial activities shown and analyzed the evolution of the relevant environmental fac- tors.
The high number of all external influences, which picture the firm’s environment, require to select them. Classifying can happen for example by their source:
- economical,
- technological,
- demographical,
- social and
- governmental factors or by proximity:
- the “micro-environment”, “industry-environment” or “task-environment”
- the “macro-environment” or “general-environment”
In order to consider all influences, that are too many and it exists that possibility to run the risk of information overload, or loosing the look for the essential. The cost for the survey of all relevant data’s would be very high and the results not efficient.
2.1 Industry environment
Grant discern the Macro-Environment and the Industry-Environment, whereas he focused on the latter. He derive this classification from the distinction between vital and merely important factors. The more relevancy he sees in the relationships of a firm with customers, suppliers, and competitors.
Grant explain this in following way: “For the firm to make profit it must create value for cus- tomers. Hence, the firm must understand its customers. Second, in creating value, the firm acquires goods and services from suppliers. Hence, the firm must understand its suppliers and how to form business relationships with them. Third, the ability to generate profitability from value-creating activity depends on the intensity of competition among the firms that vie for the same value-creating opportunities. Hence, the firm must understand competition.”
Sure are factors like general economic trends, social or political trends also important to strat- egy analysis and may be threats and opportunities in the future. But more important is, how macro-level factors impinge on the industry-environment.
Figure 1 shows the structure of Business Environment by Grant[1].
illustration not visible in this excerpt
Figure 1: The Business Environment
3 Analyzing the industry attractiveness
The profit in an industry is determined by the following three factors:
- the value of the product or service to customer
- the intensity of competition
- the relative bargaining power at different levels in the production chain.[2] This factors are the components of the industry environment (see Figure 1).
For the cooperate level decision, in which industry the firm should act, a prerequisite is the knowledge about the reasons for different rates of profit in different industries.
The level of industry profitability is no by hazard and also it’s not consequence of industry- specific influences. The cause are systematic influences of industry structure.
The foundation is formed by the theory of monopoly and the theory of perfect competition. Both theories simultaneous picture the frame in which the entrepreneurial reality is to be searched.
The Consequence is to identify the structural variables influencing competition and profitabil- ity of an industry.
3.1 The structure – conduct – performance model (S – C – P Model)
The subsequent chapters tasks with Porter’s five forces framework. This framework is based on the structure – conduct – performance approach. That’s why some introducing words to this approach on this place.
The S – C – P model was developed in the 1930s by a group of economist to understand the relationship between a firm’s environment, its behavior and its performance.
The term structure refers to industry structure, which is measured by factors such as number of buyers and suppliers, level of product differentiation, barriers to entry, cost structure, and vertical integration. Conduct means specific actions of a firm in an industry conclusively pric- ing behavior, product strategy, advertising, research and development, and investment in plant and equipment. Performance means both performance of individual firms and the perform- ance of the economy as a whole.[3]
There are two different approaches in the literature which would attempt to justify the devel- opment of competitive advantages. One is the market – based view of strategy with the target to eliminate weaknesses and the other one is the resource – based view of strategy with the target to enlarge fortes. The S – C – P model is based on the market – based view. The repre- sentative of the resource – based view strategy is the resource – conduct – performance model.
The market – based view try to synthesize relations between industry structure and the profit- ability of an industry. Thereby are above-normal profits the result of imperfectly competition. In follow of the interdependent relations between structure, conduct and performance the in- dustry structure is not only a restriction for entrepreneurial activities, but also object of strate- gically changes.
The resource – based view professed the success of a enterprise out of an internal perspective. This means, that the uniqueness of resources as specific components is the source of competi- tive advantages.[4]
The figure 2 shows both approaches with their underlain paradigms[5]
illustration not visible in this excerpt
Figure 2: paradigms to explain competitive advantages
3.2 Porter’s five forces of competition framework
Michael Porter developed a widely used Framework for classifying and analyzing the features of an industry that quantify the intensity of competition and the level of profitability.
According to Porter, the five forces of competition are (see Figure 3)[6]:
- competition from substitutes, from entrants, and from established rivals as sources of “horizontal” competition
- the bargaining power of suppliers and buyers as sources of “vertical” Competition.
illustration not visible in this excerpt
Figure 3: Porter's five forces of competition framework
3.2.1 Competition from Substitutes
Substitutes are products or services by a firm’s rivals meet approximately the same customers needs in the same ways, but do so in different ways, as the products or services provided by the firm itself.[7]
The cross-price-elasticity of substitutes is positive, i.e. if the price of product A increases, the demand for product A diminish in size and on the other side the demand for a substitute rises. That implies the price margin of the supplier is limited in dependence on the elasticity of de- mand.[8]
Electronic calculators as substitutes for slide rules and mechanical calculators are a example for the Case of extreme, that a substitute can ultimately replace an industry’s product or ser- vice.
The role of substitutes becomes more important in many industries. For example, computer- ized texts are becoming viable substitutes for printed books in the publishing industry (Cox, 1993).[9]
Customers trend to substitute is not only in follow of price differences. The more complex the needs being fulfilled by the product and the more difficult it is to discern performance differ- ences, the lower the extent of substitution by customers on the basis of price differences. As Example Grant invokes the failure of low-priced imitations of leading perfumes to establish significant market share reflects, in part, consumer’s difficulty in discerning the performance characteristics of different fragrances.[10]
3.2.2 Threat of Entry
New entrants are firms that have recently begun operations in an industry or that threaten to begin operations in an industry soon. Motivated by the above-normal economic profits that some incumbent firms in an industry may be earning, new entrants try to enter the industry.[11] As Barriers of entry, Jay B. Barnes names:
- economies of scale
- product differentiation
- cost advantages independent of scale
- contrived deterrence
- government regulation of entry
Capital requirements and other barriers to entry cited in the literature, Barney considers as special cases of the five above.[12]
Grant’s classification is different in some points and is for instance in the case of capital re- quirement based on the classification of Porter.
3.2.2.1 Capital Requirements
To get established in an industry the capital cost can be so large as to discourage all potential entrants except the largest companies. For example the duopoly of Boeing and Airbus in large passenger jets is protected by the prohibitive costs of establishing such a venture.
[...]
[1] compare Grant, “Contemporary Strategy Analysis“, 1998, Page 53
[2] compare Grant, “Contemporary Strategy Analysis“, 1998, Page 54
[3] see Jay B. Barney, “Gaining and Sustaining Competitive Advantage“, 1997, Page 66 – 68
[4] H. Corsten, „Grundlagen der Wettbewerbsstrategie“, 1998, Page 16, 18
[5] figure on base of H. Corsten, „Grundlagen der Wettbewerbsstrategie“, 1998, Page 17
[6] compare Grant, “Contemporary Strategy Analysis“, 1998, Page 57
[7] see Jay B. Barney, “Gaining and Sustaining Competitive Advantage“, 1997, Page 87
[8] H. Corsten, „Grundlagen der Wettbewerbsstrategie“, 1998, Page 30
[9] see Jay B. Barney, “Gaining and Sustaining Competitive Advantage“, 1997, Page 87
[10] compare Grant, “Contemporary Strategy Analysis“, 1998, Page 58
[11] see Jay B. Barney, “Gaining and Sustaining Competitive Advantage“, 1997, Page 69
[12] see Jay B. Barney, “Gaining and Sustaining Competitive Advantage“, 1997, Page 87
- Quote paper
- Heiner Söll (Author), 2001, Industry Analysis, Munich, GRIN Verlag, https://www.grin.com/document/103623
