麦肯锡:亚洲的未来 — 解锁亚洲企业的价值与绩效

分享者:Jian.1990 | 分享时间: 2020-6-15 15:49 | 我要分享
知识文档-点击下载

The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia.pdf

2.6 MB

所需流量: 5 积分 [立即下载]

68页 PDF 英文版

2020年6月10日,麦肯锡全球研究院发布“亚洲未来系列报告”之《亚洲的未来:解锁亚洲企业的价值与绩效》。过去二十年里,亚洲大型企业的成长从根本上改变了全球企业格局。如今,这些企业正在迈向一个全新的阶段。它们所面临的挑战将不仅关乎增长,还关乎生产率。新冠疫情带来了严重的外部冲击,这或将会加速拉大绩效不佳的企业与绩效出色的企业之间的差距。展望疫情之后的世界,那些更有韧性的亚洲企业或许将能定义下一个“新常态”。

过去十年里,全球每2美元的新投资中就有1美元流向了亚洲企业。资本的涌入使得亚洲企业能够拓展业务,扩大规模,获得相应的市场机会。如今,在全球收入最高的企业中,有43%的总部位于亚洲。

然而,对于亚洲大多数企业而言,资本流入和收入增长并未转化为更高的经济利润(即扣除资本成本后的利润)。十年前,80美分的投资资本可以赚取1美元的收入,但如今投入1.10美元才能赚到同样的1美元。全球资本溢出压低了回报率,导致全球经济利润不断下滑。2005-2007年期间,全球经济利润为7260亿美元,而在2015-2017年间,全球却出现了340亿美元的经济损失。同期,亚洲从1520亿美元的经济利润跌落为2060亿美元的经济损失,约占全球经济利润下滑值的近一半。

十年间,造成亚洲企业经济盈利能力下降的主要因素有三个。首先,近44%的经济盈利能力下降是由于能源及材料行业的周期性下行;其次,近三分之一的经济能力下降可归因于资本配置给了损毁价值的行业,且这种情况在亚洲普遍存在;最后,其余的下降是由于亚洲企业的绩效不及全球其他地区的企业。

我们的情景模拟表明,亚洲有望利用两个主要机遇来释放4400亿至6200亿美元的经济利润。首先是提高企业的绩效。具体而言,即约200家亚洲企业从榜单最后五分之一跃升至榜单中部,同时约250家亚洲企业从榜单中部跃升至前五分之一。其次,持续对可创造价值的行业进行投入,总量为3万亿至4万亿美元,其中可能需要将现有资本重新分配给其他行业。

从企业绩效来看,与全球平均水平相比,亚洲位于榜单最后五分之一的企业数量过多,而位于榜单前五分之一的企业数量过少。其中一部分原因是企业本身的能力,另一部分原因则是许多亚洲企业属于研发水平不高的行业。不过,这同样反映出企业需要学习掌握一些新的手段,例如程序化并购。在亚洲,只有不到10%的并购实现了程序化,而全球基准水平为20%。不过,我们也注意到亚洲企业能利用自身的相对优势,比如较为活跃的资本再配置以及不断提升的劳动生产率。

通过对特定行业的研究,我们发现亚洲企业面临着改善绩效的极大机遇,并有希望从疫情中实现复苏。在制药领域,亚洲的领先经济体和中国的研发能力可与西方老牌企业相匹敌,而“新兴亚洲”、“边疆亚洲”和印度及中国的企业则可以在满足本国对低成本医疗服务需求的同时,开发出全球领先的数字化健康解决方案。
在消费品与服务领域,企业或将受惠于亚洲不断壮大的中产阶级群体,通过程序化并购扩大自身规模,建立全球品牌,并运用数字平台扩展业务范围。能源和材料行业的企业或将可以引领全球迈入更清洁的未来,强化自身在可再生能源和电气化方面的领先地位,并拓展液化天然气等快速增长的领域。房地产企业或将能从亚洲持续的城市化进程中受益,但它们需要培养全新的能力,用以管理多样化的投资组合,并利用数字技术实现“端到端”的流程改进。银行正面临市场与竞争挑战,它们需要进行整合以扩大规模,并加大对数字技术的使用。

在新冠疫情的冲击下,亚洲企业或将在充满变数的环境中获取很多机会来提升自身能力,进而保持长期增长。企业可以加快采用数字技术释放生产力;通过并购和进一步区域化来扩大规模;以及,更为大胆、灵活地管理产品组合。此外,企业领导者需要管理多个时间跨度,并且组建一支前瞻团队。(内容来源,微信公众号:麦肯锡)


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_1.jpg

The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_2.jpg



The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_3.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_4.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_5.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_7.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_8.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_9.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_10.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_11.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_12.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_13.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_14.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_15.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_16.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_17.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_18.jpg
[邮件订阅 useit《知识精选》获取权威研究推荐]


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_19.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_20.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_21.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_22.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_23.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_24.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_25.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_26.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_27.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_28.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_29.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_30.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_31.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_32.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_33.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_34.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_35.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_36.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_37.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_38.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_39.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_40.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_41.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_42.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_43.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_44.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_45.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_46.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_47.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_48.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_49.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_50.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_51.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_52.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_53.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_54.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_55.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_56.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_57.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_58.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_59.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_60.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_61.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_62.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_63.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_64.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_65.jpg The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_66.jpg


The-future-of-Asia-Decoding-the-value-and-performance-of-corporate-Asia_68.jpg





最新热门
 
相关知识
邮件订阅

Copyright© 2005-2018 USEIT.COM.CN|帮助中心|关于我们|投诉指引|投稿须知|下载须知/免责声明|常见问题|联系我们|手机版|USEIT Inc.

GMT+8, 2020-7-13 06:48 , Processed in 0.142919 second(s), 18 queries , Gzip On, MemCache On.

鄂公网安备 42011202000160号 鄂ICP备13013806号-1

网络经济主体信息湖北省互联网举报平台 中国互联网违法和不良信息举报中心

快速回复 返回顶部 返回列表