企业利润分析中英文对照外文翻译文献.docx

企业利润分析中英文对照外文翻译文献.docx

《企业利润分析中英文对照外文翻译文献.docx》由会员分享，可在线阅读，更多相关《企业利润分析中英文对照外文翻译文献.docx（10页珍藏版）》请在冰豆网上搜索。

企业利润分析中英文对照外文翻译文献

中英文对照外文翻译

（文档含英文原文和中文翻译）

原文：

ProfitPatterns

Themostimportantobjectiveofcompaniesistocreate,developandmaintainoneormorecompetitiveadvantagesinordertogeneratedividendsfortheshareholders.Foralongtime,itwassimplyaquestionofdominatingthemarket,eitherbycostsorbyapolicyofdifferentiation.AsMichaelPorteradvised,itwasessentialtoavoidbeing“stuckinthemiddle”.Thiswayofthinkingsetupcompetitiverivalryinaclosedworld,andtendedtowardsstability.Thismodelislessandlessrelevanttodayforwholesectorsoftheeconomy.Weseeamultitudeofstrategicmovementswhichdefythelogicoftheoldsystem.“ProfitPatterns”listsnumerousstrategieswhichhavejoinedthesmallnumberthatweknewbefore.Thesepatternsoftencombinetogiverisetostrategicmodelswhicharebetteradaptedtothenewandchangingneedsoftheconsumer.

IncreasingthevalueofacompanydependsonitscapacitytopredictValuemigrationfromoneeconomicsectortoanotherorfromonecompanytoanotherhasunimaginableproportions,inparticularbecauseofthenewphenomenathatmassinvestmentandventurecapitalrepresent.Thepublicislookingforcompaniesthatwillsucceedinthefutureandbetonthewinner.

MajorofmanagershaveatalentforrecognizingdevelopmentmarkettrendsTherearesomechanginganddevelopmenttrendsinallbusinesssectors.Theycanbeerectedintomodels,therebymakingitpossibletoacquireatechniqueforpredictingthem.Thisconsistsofrecognizingthemintheactualeconomiccontext.Thisbookproposesthirtystrategicpredictionmodelsdividedintosevenfamilies.Predictingisnotenough:

onestillhastoactintime!

Managersanalyzedevelopmenttrendsintheenvironmentinordertoidentifyopportunities.Theythenhavetodetermineastrategicplanfortheircompany,andsetupasystemaligningtheinternalandexternalorganizationalstructureasafunctionoftheirobjectives.

Formostofthe20thcentury,masteringstrategicevolutionmodelswasnotadeterminingfactor,andformulasforsuccesswerefixedandrelativelysimple.Inindustry,thebasicmodelstatedthatprofitwasafunctionofrelativemarketshare.Today,thisruleisconfrontedwithmoreandmorecontradictions:

amongcarmanufacturersforexample,wheresmallcompanieslikeToyotaaremoreprofitablethanGeneralMotorsandFord.Thehighestrisesinvaluehavebecometheexclusiverightofthecompanieswiththemostefficientbusinessdesigns.Theseupstartcompanieshaveplacedthemselvesintheprofitzoneoftheirsectorsthanks,inpart,totheirsize,butalsototheirnewwayofdoingbusiness–exploitingnewruleswhicharesourcesofvaluecreation.Amongthenewruleswhichdefineagoodstrategicplanare:

1.Strongorientationtowardsthecustomer

2.Internaldecisionswhicharecoherentwiththeoverallactivity,concerningtheproductsandservicesaswellastheinvolvementinthedifferentactivitiesofthevaluechain

3.Anefficientmechanismforvalue–capture.

4.Apowerfulsourceofdifferentiationandofstrategiccontrol,inspiringinvestorconfidenceinfuturecash-flow.

5.Aninternalorganizationcarefullydesignedtosupportandreinforcethecompany’sstrategicplan.

Whydoesvaluemigrate?

Theexplanationlieslargelyintheexplosionofrisk-capitalactivitiesintheUSA.Sincethe40’s,ofthemanycompaniesthathavebeencreated,aboutathousandhaveallowedtalentedemployees,the“brains”,toworkwithouttheheavystructuresofverybigcompanies.Therisk–capitalfactorisnowenteringanewphaseintheUSA,inthattherecipesforinnovationandvaluecreationarespreadingfromjusttherisk-capitalcompaniestoallbigcompanies.Agrowingnumberofthe500richestcompanieshaveaninternalstructureforgettingintothegameofinvestingincompanieswithhighlevelsofvalue-creation.WheredoesthisleaveEurope?

Accordingtorecentresearch,innovationinstrategicthinkingisunderwayinEurope,albeitwithaslighttime-lag.Globalizationismakingtheacceptationofthesevalue-creationrulesaconditionofglobalcompetitively.Thereisasecondphenomenonthathasanevenmoreradicalinfluenceonvalue-creation–polarization:

Thecombinationofaconvincingandinnovativestrategicplan,strategiccontrolandadominantmarketsharecreatesaterrificincreaseininvestorconfidence.Theinvestorsbelievethatthecompanyhasestablisheditspositionofstrengthnotonlyforthecurrent,butalsoforthenextstrategiccycle.Theresultisanexponentialgrowthinvalue,andespeciallyaspectacularout-distancingofthedirectrivals.Thepolarizationprocesstypicallyhastwostages.Inphase1,thecompetitorsseemtobelevel.Infact,oneofthemhasunderstood,has“gotit”,beforetheothersandisinvestinginanewstrategicactionplantotakeintoaccountthepatternwhichisstartingtoredefinethesector.Phase2beginswhentheconditionsarerightforthepatterntotakeover:

atthismoment,thecompetitorwho“gotit”,attractstheattentionofcustomers,investorsandpotentialrecruits（thebrains）.Theintensepublicattentionsnowballs,themarketvalueexplodestoleavethenearestcompetitorwaybehind.Examplesarenumerousinvarioussectors:

MicrosoftagainstAppleandLotus,Coca-ColaagainstPepsi,NikeagainstReebokandsoon.Polarizationofvalueraisesthestakesandaddsasenseofurgency:

Thefirstcompanytoanticipatemarketchangeandtotakeappropriateinvestmentdecisionscangainaconsiderableleadthankstorecognitionbythemarket.

Inagrowingnumberofsectorstoday,competitionisconcentratedontheracetowardsmindshare.Thecompanywhichleadsthisraceattractscustomerswhoattractothersinanupwardsspiral.Atthetransitionfromphase1tophase2,themanagingteam’stoppriorityistowinthemindsharebattle.Therearethreestagesinthisstrategy:

mindsharingwithcustomersgivesanimmediatecompetitiveadvantageintermsofsales;mindsharingwithinvestorsprovidestheresourcestomaintainthisadvantage,andmindsharingwithpotentialrecruitsincreasesthechancesofmaintainingtheleadintheshortandthelongterm.Thistriplecapturesetsoffachainreactionreleasinganenormousamountofeconomicenergy.Marketstodayarecharacterizedbyastaggeringdegreeoftransparency.Successesandfailuresareinstantaneouslyvisibletothewholeworld.Theextraordinarysuccessofsomeinvestorsencouragesprofessionalandamateurstolookforthenexthentolayagoldenegg.Thisinvestmentmentalityhasspreadtotheemploymentmarket,wherecompensations（suchasstock-options）areincreasinglylinkedtoresults.Fromthesethreecomponents-customers,investorsandnewtalent–iscreatedtheacceleratingphenomenon,polarization:

thousandsofinvestorslooktowardstheleaderatthebeginningoftherace.Thesharevaluegoesupatthesametimeastheriseincustomernumbersandthepublicperceptionthatthecurrentleaderwillbethewinner.Theriseinshare-pricegetsmoreattentionfromthemedia,andsoon.Howtogettheknowledgebeforetheothers,inordertolaunchthecompanyintoleadership?

Thereareseveralattitudes,formsofbehaviorandknowledgethatcanbeused:

beingparanoiac,thinkingfromdaytodaythatthecurrentmarketconditionsaregoingtochange;talkingtopeoplewithdifferentpointsofview;beinginthefield,lookingforsignsofchange.Andaboveall,buildingaresearchnetworktofindthepatternsofstrategicchange,notonlyinone’sparticularsector,butinthewholeeconomy,soasalwaystounderstandthepatternsabitbetterandabitsoonerthanthecompetitors.

Experiencedmanagerscandetectsimilaritiesbetweenmovementsofvalueindifferentcircumstances.30ofthesepatternscanbedividedinto7categories.

Somemanagersunderstandmigrationsofvaluebeforeothermanagers,allowingthemtocontinuallyimprovisetheirbusinessplaninordertofindandexploitvalue.Experienceisanobviousadvantage:

situationscanrepeatthemselvesorbesimilartoothers,sothatexperiencedmanagersrecognizeandassimilatethemquickly.Thereabout30patterns.whichcanbeputinto7groupsaccordingtotheirkeyfactors.Itisimportanttounderstandthatthepatternshavethreegeneralcharacteristics:

multiplicity,variantsandcycles.Theprincipleofmultiplicityindicatesthatwhileasectororacompanymaybeaffectedbyjustonesimplestrategicpattern,mostsituationsaremorecomplicatedandinvolveseveralsimultaneouslyevolvingpatterns.Thevariantstotheknownmodelsaredevelopedindifferentcircumstancesandaccordingtothecreativityoftheusersofthemodels.Studyingthevariantsgivesmorefinesseinmodel-analysis.Finally,eachmodeldependsoneconomiccycleswhicharemoreorlesslong.Thetimeapatterntakestodevelopdependsonitsnatureandalsoonthenatureofthecustomersandsectorinquestion.1）Thefirstfamilyofstrategicevolutionpatternsconsistsofthesix“Megapatterns”:

thesemodelsdonotaddressanyparticulardimensionoftheactivity（customer,channelsofdistributionandvaluechain）,buthaveanoverallandtransversalinfluence.Theyowetheirname“Mega”totheirrangeandtheirimpact（asmuchfromthepointofviewofthedifferenteconomicsectorsasfromtheduration）.ThesixMegamodelsare:

Noprofit,Backtoprofit,Convergence,Collapseinthemiddle,DefactostandardandTechnologyshiftstheboard.•TheNoprofitpatternischaracterizedbyazeroornegativeresultoverseveralyearsinacompanyoreconomicsector.Thefirstfactorwhichfavorsthispatternistheexistenceofasinglestrategicaplaninseveralcompetitors:

theyallapplydifferentiationby