Joseph E. Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses advances in formal economic theory by examining how different positions among economists arise from their different assumptions and models. The discussion focuses on ways in ...
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This chapter discusses advances in formal economic theory by examining how different positions among economists arise from their different assumptions and models. The discussion focuses on ways in which real world economies differ from the ‘competitive equilibrium’ model that has become the benchmark model. The current benchmark competitive equilibrium framework includes new classical, representative agent, and real business cycle models which assume that all markets (including the labor market) have clear, perfect information, complete markets (including perfect capital and insurance markets), perfect wage and price flexibility, perfect competition, perfect rationality, and no externalities. If these models accurately portrayed reality, the economy would be efficient and there would be no need for government intervention. The assumptions of these models, however, are unrealistic and it is difficult to reconcile the required macro-formulations with what is known about microeconomic behavior (without resorting to ad hoc assumptions about the nature of the stochastic shocks to preferences and technology). The inadequacies of these models are even greater for developing countries where information imperfections are more pervasive and more markets are missing or incomplete (e.g., insurance markets). Accordingly, economic research since the 1990s has focused on identifying the most important limitations of the standard competitive model, particularly those limitations that help to explain the nature of economic volatility.Less
This chapter discusses advances in formal economic theory by examining how different positions among economists arise from their different assumptions and models. The discussion focuses on ways in which real world economies differ from the ‘competitive equilibrium’ model that has become the benchmark model. The current benchmark competitive equilibrium framework includes new classical, representative agent, and real business cycle models which assume that all markets (including the labor market) have clear, perfect information, complete markets (including perfect capital and insurance markets), perfect wage and price flexibility, perfect competition, perfect rationality, and no externalities. If these models accurately portrayed reality, the economy would be efficient and there would be no need for government intervention. The assumptions of these models, however, are unrealistic and it is difficult to reconcile the required macro-formulations with what is known about microeconomic behavior (without resorting to ad hoc assumptions about the nature of the stochastic shocks to preferences and technology). The inadequacies of these models are even greater for developing countries where information imperfections are more pervasive and more markets are missing or incomplete (e.g., insurance markets). Accordingly, economic research since the 1990s has focused on identifying the most important limitations of the standard competitive model, particularly those limitations that help to explain the nature of economic volatility.
Marc H. Meyer
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780195180862
- eISBN:
- 9780199851270
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195180862.003.0010
- Subject:
- Business and Management, Knowledge Management
This chapter explores business model innovation, which can be as essential to enterprise growth as anything discussed to this point. Within the context of the management framework, business model ...
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This chapter explores business model innovation, which can be as essential to enterprise growth as anything discussed to this point. Within the context of the management framework, business model innovation must occur early on in parallel with user-centered design and prototype development. After the market test is completed, a team may then find it necessary to fine tune or, in some cases, fundamentally revise its business model. An innovative business model can be a clear point of competitive differentiation, providing value to both customers and shareholders. Changing an established business model is often necessary if one aims to capture the full benefits of a new market application. However business model innovation is something that many innovation teams fail to consider. For executives, this can be particularly challenging, given the many years they have spent growing the established business. Seeing the prototype is one thing; visualizing the business behind that prototype is something else.Less
This chapter explores business model innovation, which can be as essential to enterprise growth as anything discussed to this point. Within the context of the management framework, business model innovation must occur early on in parallel with user-centered design and prototype development. After the market test is completed, a team may then find it necessary to fine tune or, in some cases, fundamentally revise its business model. An innovative business model can be a clear point of competitive differentiation, providing value to both customers and shareholders. Changing an established business model is often necessary if one aims to capture the full benefits of a new market application. However business model innovation is something that many innovation teams fail to consider. For executives, this can be particularly challenging, given the many years they have spent growing the established business. Seeing the prototype is one thing; visualizing the business behind that prototype is something else.
G. Anandalingam and Henry C. Lucas
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780195177404
- eISBN:
- 9780199789559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195177404.003.0009
- Subject:
- Business and Management, Strategy
This chapter examines the reasons why winner’s curse is endemic in contemporary business, whether in the US or globally. Many important business decisions have the potential to encounter the winner’s ...
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This chapter examines the reasons why winner’s curse is endemic in contemporary business, whether in the US or globally. Many important business decisions have the potential to encounter the winner’s curse, but not all of them do. It is argued that certain conditions play a role in a manager’s (especially senior manager’s) susceptibility to the curse. These specific behaviors and expectations are outlined.Less
This chapter examines the reasons why winner’s curse is endemic in contemporary business, whether in the US or globally. Many important business decisions have the potential to encounter the winner’s curse, but not all of them do. It is argued that certain conditions play a role in a manager’s (especially senior manager’s) susceptibility to the curse. These specific behaviors and expectations are outlined.
Mia de Kuijper
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780195171631
- eISBN:
- 9780199871353
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195171631.003.0007
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Chapter 5 takes an in-depth look at how transparency will affect the four essential strategic questions that all corporate leaders and investors need to address to maximizing returns: what to own, or ...
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Chapter 5 takes an in-depth look at how transparency will affect the four essential strategic questions that all corporate leaders and investors need to address to maximizing returns: what to own, or where to focus ownership; what business model is best; how to beat new competitive threats—and what these will be like; and what marketplace strategy best utilizes the new dynamics in mass markets.Less
Chapter 5 takes an in-depth look at how transparency will affect the four essential strategic questions that all corporate leaders and investors need to address to maximizing returns: what to own, or where to focus ownership; what business model is best; how to beat new competitive threats—and what these will be like; and what marketplace strategy best utilizes the new dynamics in mass markets.
Andrea Prencipe, Andrew Davies, and Michael Hobday (eds)
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780199263233
- eISBN:
- 9780191718847
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199263233.001.0001
- Subject:
- Business and Management, Strategy
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, ...
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In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level, but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organization whereby firms and groups of firms join together different types of knowledge, skill, and activity as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. The book delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organization, regional studies, strategic management, and innovation studies.Less
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level, but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organization whereby firms and groups of firms join together different types of knowledge, skill, and activity as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. The book delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organization, regional studies, strategic management, and innovation studies.
Alan M. Rugman
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198296058
- eISBN:
- 9780191596209
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198296053.003.0007
- Subject:
- Economics and Finance, International
Three themes are pursued in this case study on the impact of globalization on Canada. The first is that from a Canadian perspective, globalization means regionalization; by virtue of the FTA ...
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Three themes are pursued in this case study on the impact of globalization on Canada. The first is that from a Canadian perspective, globalization means regionalization; by virtue of the FTA (Canada–US Free Trade Agreement) and NAFTA (North American Free Trade Agreement), Canadian‐based firms have secure and reasonably predictable access to the world's largest market, with the rules‐based regime of the FTA and NAFTA being preferable to the former US‐dominated power‐based system, although many subtle political and managerial challenges remain, since market access is not perfectly secure. The second characteristic of Canadian strategic management is related to the first and is the need to develop skills in ‘national responsiveness’, due to the asymmetries in size of the US and Canadian economies. The third theme affecting Canadian competitiveness and analysis of globalization is the large amount of foreign ownership; this somewhat complicates the nature ofbusiness–government relations in Canada, since more than one‐third of the manufacturing sector is foreign‐owned, with over two‐thirds of this being US FDI (foreign direct investment) in Canada. The four main sections of the chapter are as follows: Foreign ownership and strategic management; Regional strategic management for Canadian firms; The flagship business network model; and Strategy in the Canadian chemical industry.Less
Three themes are pursued in this case study on the impact of globalization on Canada. The first is that from a Canadian perspective, globalization means regionalization; by virtue of the FTA (Canada–US Free Trade Agreement) and NAFTA (North American Free Trade Agreement), Canadian‐based firms have secure and reasonably predictable access to the world's largest market, with the rules‐based regime of the FTA and NAFTA being preferable to the former US‐dominated power‐based system, although many subtle political and managerial challenges remain, since market access is not perfectly secure. The second characteristic of Canadian strategic management is related to the first and is the need to develop skills in ‘national responsiveness’, due to the asymmetries in size of the US and Canadian economies. The third theme affecting Canadian competitiveness and analysis of globalization is the large amount of foreign ownership; this somewhat complicates the nature of
business–government relations in Canada, since more than one‐third of the manufacturing sector is foreign‐owned, with over two‐thirds of this being US FDI (foreign direct investment) in Canada. The four main sections of the chapter are as follows: Foreign ownership and strategic management; Regional strategic management for Canadian firms; The flagship business network model; and Strategy in the Canadian chemical industry.
Manuel Castells
- Published in print:
- 2002
- Published Online:
- September 2011
- ISBN:
- 9780199255771
- eISBN:
- 9780191698279
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199255771.003.0004
- Subject:
- Business and Management, Information Technology
This chapter defines e-Business as any business activity whose performance of the key operations of management, financing innovation, production, distribution, sales, employee relations, and customer ...
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This chapter defines e-Business as any business activity whose performance of the key operations of management, financing innovation, production, distribution, sales, employee relations, and customer relations predominantly takes place by or on the Internet or other networks of computer networks regardless of the kind of connection between the virtual and the physical dimensions of the firm. It evaluates the transformation of the practice of the firm, the relationship between the Internet and capital markets, the role of work and flexible employment practices in the networking business model, and the specificity of innovation in the economy, at the source of labour productivity growth. It also proposes some hypotheses regarding the characteristics of the new business cycle and of potential crises, prompted by a sharp downturn in the value of technology stocks in financial markets, based on the observation of the period from March 2000 to March 2001.Less
This chapter defines e-Business as any business activity whose performance of the key operations of management, financing innovation, production, distribution, sales, employee relations, and customer relations predominantly takes place by or on the Internet or other networks of computer networks regardless of the kind of connection between the virtual and the physical dimensions of the firm. It evaluates the transformation of the practice of the firm, the relationship between the Internet and capital markets, the role of work and flexible employment practices in the networking business model, and the specificity of innovation in the economy, at the source of labour productivity growth. It also proposes some hypotheses regarding the characteristics of the new business cycle and of potential crises, prompted by a sharp downturn in the value of technology stocks in financial markets, based on the observation of the period from March 2000 to March 2001.
Thomas H. Stanton
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199915996
- eISBN:
- 9780199950324
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199915996.003.0006
- Subject:
- Economics and Finance, Financial Economics
Chapter 6 looks at effects of firms’ organization and business models on their behavior and vulnerabilities. Changes in law and advances in technology encouraged increasing consolidation of financial ...
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Chapter 6 looks at effects of firms’ organization and business models on their behavior and vulnerabilities. Changes in law and advances in technology encouraged increasing consolidation of financial firms. Too many large complex financial institutions, besides being “too big to fail,” also became “too big to manage.” Firms such as Fannie Mae, Freddie Mac and large mortgage originators such as Countrywide built economies of scale but also vulnerabilities because of their inability or unwillingness to diversify before the crisis hit. As the former CEOs of Fannie Mae and Freddie Mac both told the Commission, the GSE can be hard if not impossible to manage, especially in a crisis.Less
Chapter 6 looks at effects of firms’ organization and business models on their behavior and vulnerabilities. Changes in law and advances in technology encouraged increasing consolidation of financial firms. Too many large complex financial institutions, besides being “too big to fail,” also became “too big to manage.” Firms such as Fannie Mae, Freddie Mac and large mortgage originators such as Countrywide built economies of scale but also vulnerabilities because of their inability or unwillingness to diversify before the crisis hit. As the former CEOs of Fannie Mae and Freddie Mac both told the Commission, the GSE can be hard if not impossible to manage, especially in a crisis.
Marie-Laure Djelic
- Published in print:
- 1998
- Published Online:
- October 2011
- ISBN:
- 9780198293170
- eISBN:
- 9780191684968
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198293170.003.0008
- Subject:
- Business and Management, Political Economy, Corporate Governance and Accountability
This chapter discusses the process of embedding the American model of business and industrial production in Western Europe. The launch of the ...
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This chapter discusses the process of embedding the American model of business and industrial production in Western Europe. The launch of the Marshall plan in 1948 provided the U.S. an opportunity to extend its hold over the economic affairs of Western Europe. The Economic Cooperation Administration (ECA), the American agency in charge of foreign assistance, used a coercive or control mechanism to ensure the success of the embedding process. This type of mechanism was necessary to impose rapid changes in the face of strong national resistance, and to limit the extent of reinterpretation and adaptation of the original business model.Less
This chapter discusses the process of embedding the American model of business and industrial production in Western Europe. The launch of the Marshall plan in 1948 provided the U.S. an opportunity to extend its hold over the economic affairs of Western Europe. The Economic Cooperation Administration (ECA), the American agency in charge of foreign assistance, used a coercive or control mechanism to ensure the success of the embedding process. This type of mechanism was necessary to impose rapid changes in the face of strong national resistance, and to limit the extent of reinterpretation and adaptation of the original business model.
Marc H. Meyer
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780195180862
- eISBN:
- 9780199851270
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195180862.003.0012
- Subject:
- Business and Management, Knowledge Management
A business model explains the mechanisms for making money. A business plan goes a step further, explaining the strategies and actions that will put the model to work. Effective business plans gain ...
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A business model explains the mechanisms for making money. A business plan goes a step further, explaining the strategies and actions that will put the model to work. Effective business plans gain senior management's respect and stimulate discussion. Sloppy plans hurt a team's effort as much as a poorly conceived design concept. If a team lacks business planning and financial modeling expertise, it must get that expertise on board during the early phase of the project. “Making the business case” is a parallel activity with user-centered design within the framework for new market applications development—and it is of equal importance. This involves creating a prototype of their business plan, just as they created sketches of product or service concepts. This chapter calls this business plan storyboarding. The major categories of the storyboard template contain the key sections of a solid business plan: market, technology and products, channel, supply, financial projections, and organization.Less
A business model explains the mechanisms for making money. A business plan goes a step further, explaining the strategies and actions that will put the model to work. Effective business plans gain senior management's respect and stimulate discussion. Sloppy plans hurt a team's effort as much as a poorly conceived design concept. If a team lacks business planning and financial modeling expertise, it must get that expertise on board during the early phase of the project. “Making the business case” is a parallel activity with user-centered design within the framework for new market applications development—and it is of equal importance. This involves creating a prototype of their business plan, just as they created sketches of product or service concepts. This chapter calls this business plan storyboarding. The major categories of the storyboard template contain the key sections of a solid business plan: market, technology and products, channel, supply, financial projections, and organization.
Robin Mansell and W. Edward Steinmueller
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780198295570
- eISBN:
- 9780191685149
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198295570.003.0006
- Subject:
- Business and Management, Information Technology, Innovation
For several observers, electronic commerce or e-commerce accounts for the beginnings of a novel commercial paradigm, as well as of a new general paradigm for how the suppliers of various services and ...
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For several observers, electronic commerce or e-commerce accounts for the beginnings of a novel commercial paradigm, as well as of a new general paradigm for how the suppliers of various services and technologies interact with their users. Utilizing e-commerce in improving the competitiveness of Europe entails certain issues which, when addressed, bring about a broadcast media model for developing the home-access aspect of the communication and information infrastructure – an alternative to the ‘passive’ user. Since e-commerce focuses mainly on business-to-business interactions, the challenges and opportunities associated with this field relate to the changes in processes and structures of trading transactions. As such, we also have to consider the evolution of organizational forms and business models evident in individual trading communities.Less
For several observers, electronic commerce or e-commerce accounts for the beginnings of a novel commercial paradigm, as well as of a new general paradigm for how the suppliers of various services and technologies interact with their users. Utilizing e-commerce in improving the competitiveness of Europe entails certain issues which, when addressed, bring about a broadcast media model for developing the home-access aspect of the communication and information infrastructure – an alternative to the ‘passive’ user. Since e-commerce focuses mainly on business-to-business interactions, the challenges and opportunities associated with this field relate to the changes in processes and structures of trading transactions. As such, we also have to consider the evolution of organizational forms and business models evident in individual trading communities.
Marie-Laure Djelic
- Published in print:
- 1998
- Published Online:
- October 2011
- ISBN:
- 9780198293170
- eISBN:
- 9780191684968
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198293170.003.0009
- Subject:
- Business and Management, Political Economy, Corporate Governance and Accountability
This chapter discusses the organized resistance and opposition of Western European business, particularly in France, Italy, and West Germany, to ...
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This chapter discusses the organized resistance and opposition of Western European business, particularly in France, Italy, and West Germany, to the structural transformation brought about by the introduction of the American business model. Western European business leaders resented the large-scale transfer of a foreign model they believed was not adopted to European conditions and potentially dangerous for their own interests. The focus of opposition in West Germany is on the issue of competition and antitrust traditions, while in France and Italy, the issue was about the planned redefinition of physical and ownerships structures within the national industry.Less
This chapter discusses the organized resistance and opposition of Western European business, particularly in France, Italy, and West Germany, to the structural transformation brought about by the introduction of the American business model. Western European business leaders resented the large-scale transfer of a foreign model they believed was not adopted to European conditions and potentially dangerous for their own interests. The focus of opposition in West Germany is on the issue of competition and antitrust traditions, while in France and Italy, the issue was about the planned redefinition of physical and ownerships structures within the national industry.
W. Mark Fruin
- Published in print:
- 1994
- Published Online:
- November 2003
- ISBN:
- 9780198288985
- eISBN:
- 9780191596285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288980.003.0006
- Subject:
- Economics and Finance, South and East Asia
This chapter looks at the evolving enterprise system from the 1950s to the 1980s. It argues that the inter‐organizational model of focal factories, unitary firms, and interfirm networks remained the ...
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This chapter looks at the evolving enterprise system from the 1950s to the 1980s. It argues that the inter‐organizational model of focal factories, unitary firms, and interfirm networks remained the dominant industrial organization model in spite of significant changes in industrial relations, ownership, government policies, and sources of technology. The different sections of the chapter look at large modern corporations from 1954 to 1987, social transformation and shop‐floor reformation, the adaptive as opposed to the innovative enterprise, structural change, and the post‐war strategy of Matsushita and Hitachi, organizational interdependence (enterprise groups) in post‐war Japan (the six main types of interfirm groupings, and new enterprise groups), the utility of interfirm networks, and the modern corporation and enterprise system.Less
This chapter looks at the evolving enterprise system from the 1950s to the 1980s. It argues that the inter‐organizational model of focal factories, unitary firms, and interfirm networks remained the dominant industrial organization model in spite of significant changes in industrial relations, ownership, government policies, and sources of technology. The different sections of the chapter look at large modern corporations from 1954 to 1987, social transformation and shop‐floor reformation, the adaptive as opposed to the innovative enterprise, structural change, and the post‐war strategy of Matsushita and Hitachi, organizational interdependence (enterprise groups) in post‐war Japan (the six main types of interfirm groupings, and new enterprise groups), the utility of interfirm networks, and the modern corporation and enterprise system.
Marc H. Meyer
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780195180862
- eISBN:
- 9780199851270
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195180862.001.0001
- Subject:
- Business and Management, Knowledge Management
Every company can point to a growth strategy. Far fewer, however, systematically implement them; instead, they spend their time on incremental innovations, or rely on acquisitions. Organic, internal ...
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Every company can point to a growth strategy. Far fewer, however, systematically implement them; instead, they spend their time on incremental innovations, or rely on acquisitions. Organic, internal growth, accomplished through product line renewal and new service development, is essential to the long-term vitality of corporations across all industries. This book takes on the challenge large corporations have in generating internal innovation—developing new product lines that address new market applications and provide the corporation with new streams of revenue. It integrates the key disciplines—new product strategy, user research, concept development and prototyping, market testing, and business modeling—needed for enterprise growth. The book illustrates its framework with in-depth examples of companies that have leveraged their core technologies to new markets and new types of uses in order to generate impressive results, including IBM, Honda, and Mars. Many of these examples contain templates that readers can use in their own projects. The book ends by addressing the human side of new market applications, providing advice on what executives and innovation team leaders must do to execute the steps of the book's framework for new market applications development.Less
Every company can point to a growth strategy. Far fewer, however, systematically implement them; instead, they spend their time on incremental innovations, or rely on acquisitions. Organic, internal growth, accomplished through product line renewal and new service development, is essential to the long-term vitality of corporations across all industries. This book takes on the challenge large corporations have in generating internal innovation—developing new product lines that address new market applications and provide the corporation with new streams of revenue. It integrates the key disciplines—new product strategy, user research, concept development and prototyping, market testing, and business modeling—needed for enterprise growth. The book illustrates its framework with in-depth examples of companies that have leveraged their core technologies to new markets and new types of uses in order to generate impressive results, including IBM, Honda, and Mars. Many of these examples contain templates that readers can use in their own projects. The book ends by addressing the human side of new market applications, providing advice on what executives and innovation team leaders must do to execute the steps of the book's framework for new market applications development.
W. Mark Fruin
- Published in print:
- 1994
- Published Online:
- November 2003
- ISBN:
- 9780198288985
- eISBN:
- 9780191596285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288980.003.0002
- Subject:
- Economics and Finance, South and East Asia
This chapter analyses the interorganizational model of factory, firm, and interfirm network in Japan that is at the heart of book. The argument stresses the need for specialization at the factory ...
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This chapter analyses the interorganizational model of factory, firm, and interfirm network in Japan that is at the heart of book. The argument stresses the need for specialization at the factory level, given the overwhelming emphasis on rapid technology transfer from the West, and the concomitant narrow scope of technology‐based firms. Interfirm networks provided the breadth of functions and resources needed by firms to grow rapidly.Less
This chapter analyses the interorganizational model of factory, firm, and interfirm network in Japan that is at the heart of book. The argument stresses the need for specialization at the factory level, given the overwhelming emphasis on rapid technology transfer from the West, and the concomitant narrow scope of technology‐based firms. Interfirm networks provided the breadth of functions and resources needed by firms to grow rapidly.
Harald Uhlig
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199248278
- eISBN:
- 9780191596605
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199248273.003.0003
- Subject:
- Economics and Finance, Macro- and Monetary Economics
An extensive treatment is provided of methods that use log‐linear approximations to solve nonlinear dynamic discrete‐time stochastic models. These methods, based on their linear counterparts, have ...
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An extensive treatment is provided of methods that use log‐linear approximations to solve nonlinear dynamic discrete‐time stochastic models. These methods, based on their linear counterparts, have been extensively used in the macroeconomic literature, and Uhlig simplifies, integrates, and compares them. He shows how to log‐linearize the necessary equations characterizing the equilibrium without explicit differentiation, provides a general solution to a linearized system using the method of undetermined coefficients, allowing in particular for a vector of endogenous states, and provides a simulation‐free frequency‐domain method to calculate the model implications in its Hodrick–Prescott filtered version. These methods are easy to use if a numerical package such as MATLAB is available. Examples of the approach taken are presented in an appendix, which looks at Hansen's (1985) real business cycle model for the case of saddle‐point stability (using the Blanchard–Kahn approach) and the case where equilibria may be undetermined; the appendix also describes the MATLAB programs needed to carry out the calculations.Less
An extensive treatment is provided of methods that use log‐linear approximations to solve nonlinear dynamic discrete‐time stochastic models. These methods, based on their linear counterparts, have been extensively used in the macroeconomic literature, and Uhlig simplifies, integrates, and compares them. He shows how to log‐linearize the necessary equations characterizing the equilibrium without explicit differentiation, provides a general solution to a linearized system using the method of undetermined coefficients, allowing in particular for a vector of endogenous states, and provides a simulation‐free frequency‐domain method to calculate the model implications in its Hodrick–Prescott filtered version. These methods are easy to use if a numerical package such as MATLAB is available. Examples of the approach taken are presented in an appendix, which looks at Hansen's (1985) real business cycle model for the case of saddle‐point stability (using the Blanchard–Kahn approach) and the case where equilibria may be undetermined; the appendix also describes the MATLAB programs needed to carry out the calculations.
Marc H. Meyer
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780195180862
- eISBN:
- 9780199851270
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195180862.003.0011
- Subject:
- Business and Management, Knowledge Management
This chapter describes how one such firm—Mars, Incorporated—has become a leader in innovating new product concepts. In fact, the chapter sees how teams inside the company synthesized many of the ...
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This chapter describes how one such firm—Mars, Incorporated—has become a leader in innovating new product concepts. In fact, the chapter sees how teams inside the company synthesized many of the methods described in this book: segmenting markets for growth, diving deep into user needs, defining new product line architectures to incorporate modular platforms and flexible manufacturing processes, and combining all these factors into business models different from the company's standard fare. The chapter also suggests how new market applications can change the way a company thinks about itself as a business—not just what it makes, but how it sells and how it makes money. It then provides instructive examples for the business model before and the financial modeling and business process.Less
This chapter describes how one such firm—Mars, Incorporated—has become a leader in innovating new product concepts. In fact, the chapter sees how teams inside the company synthesized many of the methods described in this book: segmenting markets for growth, diving deep into user needs, defining new product line architectures to incorporate modular platforms and flexible manufacturing processes, and combining all these factors into business models different from the company's standard fare. The chapter also suggests how new market applications can change the way a company thinks about itself as a business—not just what it makes, but how it sells and how it makes money. It then provides instructive examples for the business model before and the financial modeling and business process.
Mia de Kuijper
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780195171631
- eISBN:
- 9780199871353
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195171631.003.0017
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Chapter 16 contains the operating instructions for implementation of the second of the Four Rules
Chapter 16 contains the operating instructions for implementation of the second of the Four Rules
Andrea Prencipe, Andrew Davies, and Michael Hobday (eds)
- Published in print:
- 2003
- Published Online:
- January 2005
- ISBN:
- 9780199263226
- eISBN:
- 9780191718847
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199263221.001.0001
- Subject:
- Economics and Finance, Economic Systems
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g. computing, ...
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In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g. computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organisation whereby firms and groups of firms join together different types of knowledge, skill, and activity, as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. This book, the first to systematically explore the re‐invention of systems integration from a business and innovation perspective, is based on contributions from leading international scholars. It delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organisation, regional studies, strategic management, and innovation studies.Less
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g. computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organisation whereby firms and groups of firms join together different types of knowledge, skill, and activity, as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. This book, the first to systematically explore the re‐invention of systems integration from a business and innovation perspective, is based on contributions from leading international scholars. It delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organisation, regional studies, strategic management, and innovation studies.
Nicolai J. Foss and Tina Saebi
- Published in print:
- 2015
- Published Online:
- April 2015
- ISBN:
- 9780198701873
- eISBN:
- 9780191771606
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198701873.003.0001
- Subject:
- Business and Management, Innovation, Strategy
The notions that companies have “business models” that may need to be “innovated” for sustained superior performance have become highly influential in the business world as well as in management ...
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The notions that companies have “business models” that may need to be “innovated” for sustained superior performance have become highly influential in the business world as well as in management research in the strategy and entrepreneurship fields in particular. And yet, issues of organizational design, informal organization, leadership, etc. have not been systematically linked to these discourses, although the business model construct is shot through with such fundamentally “organizational” concerns. This introductory chapter discusses why it is important to link business models and business model innovation to the “organizational dimension,” and discusses the role of organization as an antecedent and moderator of business model innovation, before ending by surveying the various ways in which the chapters in this volume meet the imperative of adding organizational content to our understanding of business model innovation.Less
The notions that companies have “business models” that may need to be “innovated” for sustained superior performance have become highly influential in the business world as well as in management research in the strategy and entrepreneurship fields in particular. And yet, issues of organizational design, informal organization, leadership, etc. have not been systematically linked to these discourses, although the business model construct is shot through with such fundamentally “organizational” concerns. This introductory chapter discusses why it is important to link business models and business model innovation to the “organizational dimension,” and discusses the role of organization as an antecedent and moderator of business model innovation, before ending by surveying the various ways in which the chapters in this volume meet the imperative of adding organizational content to our understanding of business model innovation.
