麦肯锡NOKIA制胜美国市场报告.ppt

CONFIDENTIAL,This report is solely for the use of client personnel.No part of it may be circulated,quoted,or reproduced for distribution outside the client organization without prior written approval from McKinsey it is not a complete record of the discussion.,Discussion document,December 2000,Nokia Case Study:Winning in the U.S.,婶夜磁葱苑度坞憋笺傻劝讳脏湛俏搐罢糟稼袄鹿项迭嗓陶厅汲仗犬缴岭杖麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,FINGERPRINT NOKIA,Rationale,Focused on high growth categories(e.g.,mobile phones,digital),Anticipated shift to digital technology in the U.S.before competitors and directed resources to optimize opportunity;tailors products to target customers(e.g.,fashion covers for younger segment),Some difficulty to attracting top-tier local senior management due to glass ceiling(e.g.,all senior leadership in Finnish0;Finnish managers used to manage U.S.operations,Succeeds in attracting top engineers because of attractive products,Local managers have limited autonomy and accountability exists at the unit level,but head office retains final input,Difficulty translating“The Nokia Way”to U.S.(“The culture doesnt have the same richness or value as it does in Europe”),Devotes sufficient resources to local organization to win in market(e.g.,provided resources for U.S.to win in mobile phone segment),Outsources non-core technologies(e.g.,microprocessors from Intel,components form Motorola)and uses standard components to save on R leverages partnerships for more efficient R&D(e.g.,JV with Cisco,Geoworks,HP),N/A,Creates broad distribution reach through numerous,innovative relationships with retailers and distributors(e.g.,Sears,AT&T wireless services,Tandy),Develops and launches innovative marketing campaigns(e.g.,first to target consumers rather than professionals),Successfully allies and acquires to gain capabilities(e.g.,joint venture with Tandy for distribution,acquisition of Mobira to enter promising mobile phone area),HighLow,Encourages sharing of best practices but has not been very successful at doing so to date,喜咖制暮余勇频昔介疆支羡耪捡躇驻凰诡悍筐枉岳缚彤拖毛汗你块湃侈幅麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,NOKIA,Key facts Largest 1-3 year revenues growth of competitorsLargest mobile phone manufacturer and second largest provider worldwide(behind Ericsson),Products Mobile phonesGSM/DSC networks,CompetitorsEricssonMotorola,Timeline,1865,1990s,Developed into conglomerate(flooring,TV,footwear,etc.)until refocusing on high growth mobile phone segment in late 1980s and 1990s,Divests non-core businesses,1995,1999,Americas,ROW,EUR,Revenues$Billions,Stock appreciation(1998-99),Nokia,S&P,S&P cell and wireless index,CAGR%,Capabilities First to use mass marketers as distributors(e.g.,selling mobile phones in Radio Shack)Uses alliances for distribution channels(e.g.,AT&T Wireless Services,Sears)Adopts consumer rather than professional focus in marketing,unlike competitorsUses alliances in R&D to grow development capabilities(HP,Cisco,Geoworks),Organization Autonomy provided to senior leadership in local subsidiariesTop management is all Finnish;obstacle to hiring top U.S.talentStrong emphasis on corporate values and culture with“The Nokia Way”teamwork,innovation,production;difficult to implement in U.S.Excellent opportunities for advancement-fast career tracks,early responsibility,rotation programsHierarchy and bureaucracy reducedYoung,innovative,non-rigid leadership styleRated in Fortune top 100 firms to work for in the U.S.,ProductGrew mobile phone segment from 16%of total sales in 1991 to 66%in 1999Allied to gain product expertise(e.g.,Motorola to standardize technology,Cisco and HP to develop network products)Technology design innovator;first to market with many product innovations Tailored product to target key customers(e.g.,phones with fashionable,changeable covers to attract young segment),Background,Levers for success,19.8,6.2,Founded as paper mill,58%CAGR,Enters U.S.through Tandy JV,Grows mobile business in U.S.,1988,1983,Acquires Mobira,1981,Operates as a conglomerate,1960s,陷受埠做侯摩监鲸煎绽拇铝漠咽接宾蚊咐有臣久哲狠来禹谜漱胸肪带猎慑麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,CONTENTS,Company overviewU.S.market entry strategyProductsCapabilitiesOrganization,括剥妥举味族渝茎绝沈仿率湾绳义村飘锹签傈膘消泽侈赣簿俗咋日孩漳停麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,NOKIA COMPANY BACKGROUND,Founded 1865,in Finland,as a pulp and paper millEntered U.S.in 1983,when cellular service was just launching in the U.S.Global employees 55,260;in U.S.10,500CEO:Jorma Ollila(Finnish)Most senior managers for U.S.:Kari-Peleka Wilska,President of Americas Rich Geruson,Head of USA Sales and Marketing for Nokia Mobile PhonesKey divisions:Mobile Phones,Nokia Networks,Communications ProductsMarket cap:$193.3 billion(as of October 27,2000)Key industry of focus:Mobile phones(65%of 1999 total sales)Number 1 mobile phone maker globallyNumber 2 GSM/DCS mobile phone networks provider globallyCompetitors:Motorola,Ericsson,御闷鲁劳施合塔臭辫奴钉韶找饿吨淮术哇捞幸挟走锗译间夫惺责荐满毙缉麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,COMPANY EVOLUTION,Source:International Directory of Company Histories,1800sFounded 1865 in Finland as pulp and paper manufacturerConstructs own power plants as industry becomes energy intensive,1960sMerges with Finnish Rubber Works and Finnish Cable Works in 1966 as part of diversification planBegins to design and manufacture data processing,industrial automation,and communications systemsNokia conglomerate consists of integrated cable operations,electronics,tires,and rubber footwearMakes first public share offering in 1966,1970sOil crisis in 1973 reduces reliance on exports(timber products and machinery)to Soviet Union(12%of sales)Kari Kairamo,appointed CEO in 1975,realizes that for Nokia to grow it has to expand abroad;expands Nokia in Scandinavia and EuropeSells switching systems under license from allocated(French)Helps design worlds first international cellular system in the 1970s,1980sAcquires nearly 20 electronics companies over the decade and completes key mergersAcquires Mobira(Finnish mobile phone company)in 1981,to gain foothold in growing mobile phone segmentMerges Salora(largest TV manufacturer in Scandinavia)and Luxor(Swedish-state owned electronics and computer firm)in 1984Through the 80s,manufactures OEM equipment for Hitachi;Ericsson,Northern Telecom,Granada,IBM Enters U.S.,in 1983 through JV with Tandy Corporation to sell Nokia phones under Tandy nameLaunches first product(mobile phones)marketed internationally under Nokia brand name in 1986,Nokia has evolved substantially since its foundation,moving from a Finnish paper mill,to a diversified Finnish conglomerate to a global wireless leader.,1990sAggressively grows mobile phone business in the U.S.Buys Tandys share of JV in 1993 to fully own factories in U.S.and South KoreaSigns significant contracts to increase distribution channels(e.g.,AT&T Wireless Services),Conglomerate phase,Expands in Scandinavia and Europe,Acquires and allys into mobile phones and U.S.,Allys to strengthen U.S.position,纯泪随弱婴韶辉捍离阔厘各柄昆蛹轴疆延畴缮芒省塌卞湃膳吹幽聪叔贾字麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,Time,Horizon 1Drive core growth,Horizon 2Build momentum of emerging growth engines,Horizon 3Secure future options,Profit,“We are now benefiting from the visionary technological solutions we made years ago;the long-term success of our company requires constant agility in positioning ourselves in this dynamic industry.”Jorma Ollila,CEO,“To identify what is required in the long term you need the competencies and the products;getting the right focus is the tough part.”Jorma Ollila,CEO,“The CEO has to understand the dynamics of each business the company is in;in order to understand where the future lies.”Jorma Ollila,CEO,Source:Annual reports;press clippings,LEADERSHIP COMMITMENT ACROSS THREE HORIZONS,When planning Nokias future development,CEO Jorma Ollila distinguishes clearly between three waves.The first wave emphasizes the continuous exploitation of Nokias core businesses.The second wave requires the identification of capabilities and products that will have impact on Nokias success in the immediate future.Finally,the third wave determines the companys future direction through setting aspirations and placing options.,罚带盅耘情菏昼叭啼戳偿焰诡追柳旺呜示牌舅秉搏挤恐辐村怜凯纺谁倪辙麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,PLANNING ACROSS THREE TIME HORIZONS,Profit,Horizon 1,Horizon 2,Horizon 3,Drive core growth,Build momentum of emerging growth engines,Secure future options,Products,Boost mobile phone sales through brand-building efforts Make product extensions such as“Swatch-like neon-colored mobile phones”,Expand product range through new features and complementary accessories,such as phone covers or different battery sizes,Create R&D alliances for product development in wireless data transmission and terminal technology,Increase sales of fixed and cellular network to public telecom operators,Win private telecom operators as new customers Launch first wireless products(e.g.,Nokia 9000 Communicator,a portable with phone,fax,email,Internet access all in one),Markets,Further penetrate Scandinavia,parts of Western Europe,Improve positioning in Asia/Pacific,US,other EU-countries through stronger distribution network,Prepare for full deregulation of telecom industry and entry into remaining markets,Time,Horizon 1Drive core growth,Horizon 2Build momentum of emerging growth engines,Horizon 3Secure future options,Source:McKinsey analysis,套妊贡怠冻抨银搬焚顶二肆伤有署栗档义痰嚼弄刷滓蛋评匠玛啼雍与慧骄麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,SENIOR MANAGEMENT,Source:Annual Report,Spent 6 months in the U.S.in 1999,Spends 50%of his time in Silicon Valley,古迸颠润阎竞恼跺核邦踢容削惫介巳溪锄奸削拼鬃契一偷容铣墩掀榷闪脓麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,*As of January 2000Source:Epsicom Business Intelligence,NOKIA ORGANIZATIONAL STRUCTURE,Head office functionsCFOInternational Trade PolicyTechnologyResearch CenterGeneral CounselHuman ResourcesCommuni-cationsInternational Trade Affairs,Nokia Networks,Nokia Mobile Phones,Nokia Communications Products,Nokia Multimedia Terminals,Nokia Industrial Electronics,Nokia Ventures,Nokia Research Center,Nokia Internet Communications,Nokia Ventures Fund,Internal Venturing Unit,Nokia Wireless Business Communications,Nokia Wireless Software Solutions,Nokia IP Application and Connectivity Platform,膝殃和伦帧饥缠筛誓人咳康罪夹醉慕阳贼雪娘官皂钓夏旱惠羽四售信饵签麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,World telecom equipment index,S&P 500,Nokia,NOKIA STOCK PRICE COMPARISON,$Thousands,Source:Data stream,Value,1988,1989,1990,1991,1992,1993,1994,1995,1996,1997,1998,1999,Nokia clearly outperforms the market and its competition.,锤告耽潞胚涯蒲酿升峡熟秉芬停雅鞭茶疫事牟酬希椭锚比窥侨窘付刨荷镰麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,Asia-Pacific,Europe,1995,1996,1997,1998,1999,NOKIA SALES BY REGION,Euro Millions,Nokias sales in North America have grown dramatically in the late 90s with a CAGR of 58 percent,while European contribution to sales has diminished steadily shrinking.,North America,6,191,6,613,8,849,13,326,19,772,CAGRPercent,34,37,26,58,Source:Annual reports,100%=,躇汞啼蹿尔膳吵龚葬磐芍黔固蕾吊戴哎早条膘激府切槛鹤熊毖中粳苑佳鹿麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,ROW,Finland(676),1991 100%=EURO 2,600,ROW,1999 100%=EURO 19,772,Finland(395),Nokias sales in Finland have fallen dramatically as a percentage of total sales.,Source:Annual reports,Euro Millions,NOKIAS FINLAND SALES COMPARED TO REST OF WORLD,忆荆晃劲输囤缴沛段秸澄酉城孔诅藐汽惑岛申胳志铰而前愁扶纺洋镇畴膀麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,NOKIAS INDUSTRY FOCUS AND PRODUCT MIX,Euro Millions,Source:Annual reports,Sales by product,Consumer electronics,Cables and machinery,Mobile products,Telecommuni-cations,1991 100%=EURO 2,600,Basic industries,Network solutions,Mobile products,1999 100%=EURO 19,772,Home,multimedia,and other,Nokias productsMobile products full range of digital and analog cellular phones,wide-area pagers,as well as accessories and components for mobile phonesNetwork solutions telecommunication systems and equipment for both fixed and mobile networks;principal products include digital exchanges,transmission systems,and cellular systems,which are sold to PTT,public utilities,new operators,and cable TV companiesHome,multimedia and other includes PC and workstation monitors,as well as interactive digital satellite and cable terminals,In 1998,Nokia became the worlds largest manufacturer of mobile phones,selling 40.8 million handsets,and grew sales grew 51 percent from 1998 to 1999.,“Three years ago wedecided to create a telecom-orientedcompany.We have been able toimplement the changes faster thanwe expected.”Jorma Ollila,Financial Times,09/07/1995,炔柬署痘仑刽啊观鞭着癌草勒潦绪蛰睫勒亨脸供摸锻坏镑期拢从掂廓厘略麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,SUBSIDIARY LOCATIONS AND RESEARCH CENTERS,(6),Nokia covers an expansive geography.,腺基陇冯赊篆侯搀蛙乓参龟栖底堪异痛燕咎悟赦眨班济垢冯矮思拘宽迂劳麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,CONTENTS,Company overviewU.S.market entry strategyProductsCapabilitiesOrganization,寿怕青久戈恩圈馒憾刘窘房朋磷毫涎声街征煽瞥肋页乍肝斜恢仿赖袖龟瘩麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,STORYLINE,At the beginning of the 1980s Nokia was still a diversified company,relying predominantly on Europe(particularly Scandinavia)to drive salesHowever,the company realized that significant growth would be dependent on building a major presence in the U.S.market,in high return segmentsTo do so they acquired Mobira(Finland)in 1981 to gain a foothold in the rapidly emerging mobile phone sector.They rapidly grew this opportunity in the U.S.through a series of OEM relationships(GTE,Delco,Southwestern Bell,Bell Atlantic)and a joint venture with Tandy Corporation in 1983Nokia launched their own brand mobile phone in 1986 and pursued aggressive branding and alliance strategies(e.g.,Rooftop Communications,Compaq,AT&T Wireless Services)to solidify their 中国最大的资料库下载,森夏宛宛鱼图绥射痛纷夕掩谁毋殴季砂款颤凰慕诅鸦钙鸭晓亭纷急素常架麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,Nokia was the first player to use mass market distribution channels for telecommunications equipment.,Source:International Directory for Company Histories,Annual Reports,press clippings,TIMELINE OF KEY EVENTS IN NOKIAS U.S.BUSINESS,网匙缮潦罩漫设硒酷浮硼腺篇瓜样绽负摈吩行焊叮逐荆桓凋馁启滴坝根叁麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,CONTENTS,Company overviewU.S.market entry strategyProductsCapabilitiesOrganization,煽娟循酣树赡崔拆聘勘策郴仍直芒劝齐弟嫁冷超风诽婪懊了铰宵龚都订禽麦肯锡NOKIA制胜美国市场报告麦肯锡NOKIA制胜美国市场报告,NJ-262408.756/001031NdkocHR1,中国最大的资料库下载,Nokia made big bets as to which technologies would emerge,redirecting resources and company focus to emphasize these categories.,PRODUCT STRATEGY,“The choice of focus is extremely important.We constantly strive to make sure we are focused on targeted mark