公司战略和净现值分析报告(ppt 25页)（英文版）

公司战略和净现值分析报告目录：
1、Corporate Strategy and Positive NPV
2、Decision Trees
3、Sensitivity Analysis, Scenario Analysis, and Break-Even Analysis
4、Options
5、Summary and Conclusions

 

公司战略和净现值分析报告内容提要：
Corporate Strategy and Positive NPV
Introduce new products
Apple Corporation and the mouse
Develop core technology
Honda and small engines
Create barrier to entry
Qualcomm’s patents on proprietary technology
Introduce variations on existing products
Chrysler’s PT Cruiser
Create product differentiation
Coca-Cola—it’s the real thing
Utilize organizational innovation
Motorola just-in-time inventory management
Exploit a new technology
Yahoo!’s use of banner advertisements on the web
Corporate Strategy and the Stock Market
There should be a connection between the stock market and capital budgeting.
If the firm invests in a positive NPV projects, the firm’s stock price should go up.
Sometimes the stock market provides negative clues as to a new project’s NPV.
Consider AT&T’s repeated attempts to penetrate the computer-manufacturing industry.
Stewart Pharmaceuticals
The Stewart Pharmaceuticals  Corporation is considering investing in developing a drug that cures the common cold.
A corporate planning group, including representatives from production, marketing, and engineering, has recommended that the firm go ahead with the test and development phase.
This preliminary phase will last one year and cost $1billion. Furthermore, the group believes that there is a 60% chance that tests will prove successful.
If the initial tests are successful, Stewart Pharmaceuticals can go ahead with full-scale production. This investment phase will cost $1,600 million. Production will occur over the next 4 years.

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