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Corporate strategy in the tobacco manufacturing industry: the case of Philip Morris

机译:烟草制造业的公司战略:以菲利普·莫里斯为例

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The purpose of this case study is to identify corporate strategy options at Philip Morris in an uncertain business and legal environment. Because it controls approximately one-half of the domestic market for tobacco products, efforts by antismokingadvocates directed toward getting Philip Morris to change its corporate policies are a major step toward getting policy changes accomplished within the entire tobacco manufacturing industry. The company has been the largest player in a structurally oligopolistic industry with only a small number of important competitors. In October 1999, on a web site position paper, Philip Morris admitted that smoking is a contributing factor to the development of a variety of diseases and that cigarette smoking was addictive. The paper examines legal issues pertaining to lawsuits directed toward claims on behalf of smokers and their families. A jury verdict in the Florida class action lawsuit on behalf of smokers, now under appeal, would require payments approximately equal to the entire market capitalization of Philip Morris on the day the verdict was announced. The paper outlines three possible organizational strategies in the face of continuing legal issues which threaten the future of the company: (1) Continue as they are now operating as a single company; (2) Spin off nontobacco components to shareholders as a separate company; and (3) Discontinue domestic manufacture and sale of tobacco products while maintaining an international tobacco business.
机译:本案例研究的目的是在不确定的商业和法律环境中确定Philip Morris的公司战略选择。由于它控制着大约一半的国内烟草产品市场,因此反吸烟倡导者为使Philip Morris改变其公司政策而做出的努力是朝着在整个烟草制造业中完成政策改变迈出的重要一步。该公司一直是结构寡头行业的最大参与者,只有少数重要竞争对手。 1999年10月,菲利普·莫里斯(Philip Morris)在网站立场文件上承认,吸烟是导致多种疾病发展的因素,并且吸烟会上瘾。本文研究了与代表吸烟者及其家人提出索赔的诉讼有关的法律问题。佛罗里达州集体诉讼中的陪审团代表吸烟者的裁决(正在上诉中)将要求支付大约等于宣布裁决之日菲利普莫里斯整个市值的款项。在面对持续威胁公司未来的法律问题时,本文概述了三种可能的组织策略:(1)继续作为单一公司运营; (2)将非烟草成分作为独立公司分拆给股东; (3)在维持国际烟草业务的同时停止国内烟草制品的生产和销售。

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