雙語財經新聞 第5期:麥當勞的商業冒險(2)

Mr Cantalupo instructed Mr Lederhausen to identify those businesses that could become significant for McDonald’s without distracting management from its core business and to sell or close the rest. The result was that over the course of the next few years, almost all of them were either sold or closed.

坎塔盧波指示利德豪森，從這些業務中挑選出一些未來可能變得較爲重要、但 不至於讓管理層分心的業務，並將其餘業務轉手出售或關閉。結果，短短几年內，幾 乎所有這些業務不是被賣掉,就是雜大吉。

The lessons: First, this story is common. A company forecasts reduced growth in its core business, looks for new sources of revenue, launches initiatives, and makes acquisitions only to find a few years later, that it is back where it started, having sold or closed its new ventures.

教訓：首先，這個案例具有普遍性。一家公司預計其核心業務增長將會放緩,於 是着手尋找新的收人來源，推出各項舉措，並進行收購——而數年後卻只能回到起 點，把所有新業務賣掉或關停。

Second, the textbook advice set a growth ambition, try a portfolio of related ventures and invest heavily in the few successes at the same timeas attending to the core does not always work, in spite of its continuing popularity.

其次，教科書上建議制定遠大發展藍圖，嘗試開展一系列相關業務，在 致力於核心業務的同時，遇有好時機就大舉投資一儘管一直備受推崇,卻並非總 是行之有效。

So, what is the alternative? When the core business starts to mature, leaders should be patient rather than energetic. The main risk is that attention is distracted from the core. Therefore, avoid launching a portfolio of initiatives; don’t set targets for growth outside the core; and don’t set up a new business division or venturing

那麼又該怎麼做呢？當核心業務開始成熟時，領導人應當保持耐心，不可“勇猛 直前”。這樣做最大的風險是可能分散對核心業務的注意力。所以，這時要避免採取 —系列行動，不要制定核心業務以外的增長目標，也不要設立新業務部門或者開拓 新業務。

Do scan opportunities, but with a tough screening process and the expectation that none will be suitable. Expect to use spare cash to buy back shares, until a really good opportunity comes along.

要留心機會，但一定要細加篩查，抱着不會有什麼合適的機會的心態。想着有富餘資金就回購股票,除非出現真正的良機。

Above all, look for people rather than projects successful new growth outside the core nearly always comes from individuals or teams who happen to have a rare combination of both grassroots knowledge of a particular area and an understanding of how your company’s strengths can be used to succeed.

最重要的是,應該物色的是人而非項目-----般來說，能夠從非核心業務獲得,新的增長，往往是因爲負責新業務的個人或團隊難得地兼具以下兩大優點；既切實 瞭解某個特定領域，也明白如何利用公司的有利條件獲取成功。

What happened next: The company’s leaders have stuck to and revived the core. In fact, as is often the case with a strong core, the hamburger business is growing again, partly because of the fast growth of emerging markets such as China.

後續:麥當勞的管理層全心投人,終於重振核心業務。部分得益於中國等新興 市場的迅速增長，該公司漢堡業務重新恢復增長。就核心業務極其強大的案例來 說,這其實是十分尋常的。

McDonald's is still looking for other opportunities but in a patient way.

麥當勞依然在尋找其他機會,但很有耐心。