BCG Matrix[BCG矩阵]

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BCG矩阵是最著名的业务组合管理工具之一， Product Life Cycle[产品生命周期]论是其理论基础。 BCG矩阵由波士顿咨询集团（Boston Consulting Group，BCG）于20世纪70年代初期开发， 它根据公司每一个战略事业单位（SBUs）内部的产品组合，来确定优先权授予。 公司应该立足长远，平衡产品组合，既要有高增长但是需要大量现金投入的产品，也要有低增长但是能够产生大量现金的产品。 BCG矩阵是一个二维矩阵， 二维即是市场份额和市场增长。 它的基本思想是， 市场份额高、或者市场增长快的产品对公司最为有利。

BCG矩阵的四种组合

根据BCG矩阵，公司产品有四种不同的组合：

• 吉星（Stars，高增长，高市场份额）
  • 吉星产品要耗费大量现金。 吉星产品是市场的领导者， 所以，它也能够产生大量现金。
  • 吉星产品大都处于一种净现金流平衡的状态。 为了保持、扩大吉星产品的市场份额，任何努力和投入都是值得的，因为占领巨大市场份额后，企业得到的回报将是金牛。
• 金牛（Cash Cows，低增长，高市场份额）
  • 金牛产品产生大量利润和现金， 同时，由于低增长，现金投入要求也比较低。
  • 金牛往往是昨天的吉星，它是公司业务的基石。
• 瘦狗 （Dogs，低增长，低市场份额）
  • 要尽量避免或者减少公司瘦狗的数量。
  • 要慎重实行昂贵的“营救计划”。
  • 瘦狗如若不能贡献现金，就必须被清除掉。
• 问号（Question Marks，高增长，低市场份额）
  • 在所有四类产品中，问号产品的现金表现最差，因为它一方面现金需求量大，另一方面又由于市场份额低，现金回报也低。
  • 如果问号市场份额长期不增长，那么它就会吸食大量现金。
  • 对待问号的策略是，或者加大现金投入，或者将其出售，或者不做任何投资听任其发展，回收尽可能的现金， 从而实现提高市场份额或贡献现金。

BCG矩阵与一体适用

BCG矩阵模型能够帮助我们认识“一体适用”的战略错误， 即用同一规模去适应不同经营的错误战略。例如，用年度9%的一般性增长目标，或是9.5%的资金回报率去要求整个公司。

在这种情况下：

• 金牛SBU将轻而易举地完成目标， 对其管理层而言，完成这个目标是一件轻松工作， 其管理人员还会常常因为完成目标受到褒奖。 而且，他们还会被允许将大笔资金再投入到业已成熟的业务上去。
• 瘦狗SBU则是在打一场“不可能”的战斗。更为糟糕的是，再投入资金， 去挽救无望的瘦狗业务。
• 问号和吉星则因为它们的市场和现金表现，只能得到一般性投入， 照此它们永远也成不了金牛。 投入不足，对企业来说无疑也是一种资金浪费。 明智的做法是，要么选择一部分问号产品，加大投入使它们成长为金牛（或者吉星），要么减资。 同时，公司要从那些未被选取的问号产品上尝试获取任何可能的现金。

BCG矩阵的其他用途和优点

• 该模型有助于公司发挥经验曲线（Experience Curve）优势，在生产和销售新产品的时候，以较低的价格进入市场，实现早期市场领导地位。 一旦新产品变成吉星，必将有高回报。
• 该模型还有助于管理人员评估公司现有吉星、金牛、问号和瘦狗的组合平衡情况。
• 该模型对那些关注产量和经验影响的大公司来说有很强的指导意义。
• 该模型简洁明了，容易理解。
• 该模型还可以作为公司未来决策和行动的基础。

BCG矩阵的局限

BCG矩阵的局限主要有以下几个方面：

• 它忽略了SBU之间的协同效应。

• 高市场份额并不是企业成功的唯一因素。

• 高增长并不是市场吸引力的唯一指标。

• 瘦狗有时候比金牛赚得更多。

• 获取准确的市场份额和市场增长数据比较困难。

• 对市场组成成分的定义不明。

• 高市场份额并不总是带来高利润。

• 仅仅考量了两个维度——市场份额和增长速度， 这有可能诱使企业专注于某一特殊产品，或者是剥离尚未成熟的产品。

• 低市场份额的产品业务可能同样有利可图。

• 忽视了那些市场份额增长快速的小公司。

参考书： Carl W. Stern， George Stalk - Perspectives on Strategy from The Boston Consulting Group

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研究链接 自动跳入有关以下内容的其他有用资源战略投资组合管理。 新闻 视频 简报 书比人好 学术的 更多

比较： McKinsey Matrix[麦肯锡矩阵]  |  ADL Matrix[ADL矩阵]  |  Product/Market Grid[产品市场方格]  |  Stage-gate[阶段-关卡流程]  |  Three Dimensional Business Definition[三维商业定义]  |  Relative Value of Growth[增长相对价值]  |  Rule of Three[三强鼎立法则]  |  Core Competence[核心竞争力]  |  Bass Diffusion Model[巴斯扩散模型]  |  STRATPORT[STRATPORT模型]  |  Profit Pools[利润池]  |  Product Life Cycle[产品生命周期]  |  Blue Ocean Strategy[蓝海战略]  |  Trajectories of Industry Change[产业变革轨迹]  |  Positioning[定位]  |  Strategic Types[战略类型]

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