P.A.Fisher十五要点之二

Fisher described Point 2 in his book about What to buy.

第二要点是第一要点的补充.

要点1

Point 1: Does the company have products or services with sufficient market potential to make possible a size-able increase in sales for at least several years?

要点2

Point 2: Does the management have a determination to continue to develop products or processes that will still further increase total sales potentials when the growth potentials of currently attractive product lines have largely been exploited?

Point 1 is a matter of fact, appraising the degree of potential sales growth that now exists for a company’s product.

Point 2 is a matter of management attitude.

第二要点是第一要点的补充. 第一要点中管理层的重要， 第二要点就体现管理层的态度.

如果公司原有的产品或服务在市场上存在足够潜力，促成公司营收的大幅增长， 而且能持续好几年. 这家公司就是不错的公司。 但是要知道，一个公司的产品或服务做得好， 行业内还有其他公司来竞争， 行业内这块的需求可能饱和， 可能达到市场的极限。那么这时候的管理层还如何做， 或持有怎样的态度么？ 第二要点就说明。

现有具有吸引力的产品成长潜力慢慢消耗殆尽，管理层能否下决定继续开发产品和工艺（processes），保持未来营收进一步增长？

管理层需要魄力和能力。做不好，就亏大啊！在第一点讲解中，作者讲的杜邦公司和摩托罗拉公司就是一个好例子。 （1）杜邦公司管理层利用自身能力与技术开发其他化学用品， 开拓新领域， 增加营收，而其本来产品是炸药，这个需求趋于饱和，虽然还能保持营收。（2） 摩托罗拉在原有产品（television operation）， 在 two-way electronic communications 领域开拓出一番天地。

公司不可能在旧产品上吃老本，新技术和研发进入后，需要改进旧产品， 开发新产品， 增加营收。新产品与旧产品之间要有关联性。

It does mean that a company with research centered around each of these divisions, like a cluster of trees each growing additional branches from its own trunk, will usually do much better than a company working on a number of unrelated new products which, if successful, will land it in several new industries unrelated to it existing business.

log

@Anifacc  
2018-03-10

人生苦短, 为欢几何.