Michelle P. Egan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244058
- eISBN:
- 9780191599132
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244057.003.0010
- Subject:
- Political Science, European Union
Focuses on the impact of market integration upon corporate policies and strategies, an issue that has not been adequately addressed in the single market literature. Companies must adjust their ...
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Focuses on the impact of market integration upon corporate policies and strategies, an issue that has not been adequately addressed in the single market literature. Companies must adjust their strategies in response to regulatory changes, and the perceived impact of efforts to promote European standardization is analysed through survey research. The chapter concludes that a number of problems remain in addressing trade barriers and improving market access in Europe, but these problems are not always regulatory issues but instead reflect market behaviour and industry practice. The policies undertaken by the European Union have also impacted companies beyond the boundaries of the single market, and thus third country efforts have focused on ensuring non‐discrimination for companies outside Europe. Corporate responses—particularly from American firms—to changes in the European business and regulatory environment have resulted in increased efforts to seek greater access, promote their influence, and avoid extensive adaptation. The European single market and its emerging regulatory regime are clearly shaping firm policies, perceptions, and strategies at the national, regional, and international level.Less
Focuses on the impact of market integration upon corporate policies and strategies, an issue that has not been adequately addressed in the single market literature. Companies must adjust their strategies in response to regulatory changes, and the perceived impact of efforts to promote European standardization is analysed through survey research. The chapter concludes that a number of problems remain in addressing trade barriers and improving market access in Europe, but these problems are not always regulatory issues but instead reflect market behaviour and industry practice. The policies undertaken by the European Union have also impacted companies beyond the boundaries of the single market, and thus third country efforts have focused on ensuring non‐discrimination for companies outside Europe. Corporate responses—particularly from American firms—to changes in the European business and regulatory environment have resulted in increased efforts to seek greater access, promote their influence, and avoid extensive adaptation. The European single market and its emerging regulatory regime are clearly shaping firm policies, perceptions, and strategies at the national, regional, and international level.
John Kay
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198292227
- eISBN:
- 9780191596520
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292228.001.0001
- Subject:
- Economics and Finance, Microeconomics
The first section of the book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding ...
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The first section of the book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding of social and commercial issues, rather than help us forecast economic trends. Similarly, it provides a direction for the development of management science as a means of understanding the behaviour of firms.The second section of the book examines the application of economics to the central strategic issues facing firms – their choice of activities and markets. It provides an exposition of the resource‐based theory of strategy, which examines the dynamics of the successes and failures of firms by reference to their distinctive capabilities.The next section develops some broader themes that are suggested by the resource‐base view of strategy that recognizes the importance of corporate personality. This perception implies that large companies are fundamentally social institutions and the economic and social consequences of this result are examined.The final section is a collection of shorter essays, which are designed to illustrate how business economics can be used to analyse a range of individual commercial issues such as pricing positioning and the evolution of industry structure.Less
The first section of the book is concerned with how economics is, and should be used, in business. It stresses that the value of economics lies in being able to provide us with a better understanding of social and commercial issues, rather than help us forecast economic trends. Similarly, it provides a direction for the development of management science as a means of understanding the behaviour of firms.
The second section of the book examines the application of economics to the central strategic issues facing firms – their choice of activities and markets. It provides an exposition of the resource‐based theory of strategy, which examines the dynamics of the successes and failures of firms by reference to their distinctive capabilities.
The next section develops some broader themes that are suggested by the resource‐base view of strategy that recognizes the importance of corporate personality. This perception implies that large companies are fundamentally social institutions and the economic and social consequences of this result are examined.
The final section is a collection of shorter essays, which are designed to illustrate how business economics can be used to analyse a range of individual commercial issues such as pricing positioning and the evolution of industry structure.
Roderick Martin, Peter D. Casson, and Tahir M. Nisar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199202607
- eISBN:
- 9780191707896
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199202607.003.0003
- Subject:
- Business and Management, Finance, Accounting, and Banking
Different types of institutional investors have different propensities to engage, influenced by the regulatory environment, the size and distribution of their portfolios, their time horizons, and the ...
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Different types of institutional investors have different propensities to engage, influenced by the regulatory environment, the size and distribution of their portfolios, their time horizons, and the financial incentives of fund managers, as well as by corporate performance. The chapter identifies the costs and benefits of engagement. USS Limited is examined as a case study of a major pension fund, with an articulated investment philosophy.Less
Different types of institutional investors have different propensities to engage, influenced by the regulatory environment, the size and distribution of their portfolios, their time horizons, and the financial incentives of fund managers, as well as by corporate performance. The chapter identifies the costs and benefits of engagement. USS Limited is examined as a case study of a major pension fund, with an articulated investment philosophy.
Roderick Martin, Peter D. Casson, and Tahir M. Nisar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199202607
- eISBN:
- 9780191707896
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199202607.003.0005
- Subject:
- Business and Management, Finance, Accounting, and Banking
Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity ...
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Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity funds and portfolio companies, this chapter shows how private equity funds provide ‘commercial savvy’ and international connections to the companies in which they invest, as well as sector-specific knowledge. The funds may involve themselves in areas traditionally considered as matters of concern to investors, such as corporate strategy, and in matters normally considered the province of managers, such as innovation and employee skill development.Less
Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity funds and portfolio companies, this chapter shows how private equity funds provide ‘commercial savvy’ and international connections to the companies in which they invest, as well as sector-specific knowledge. The funds may involve themselves in areas traditionally considered as matters of concern to investors, such as corporate strategy, and in matters normally considered the province of managers, such as innovation and employee skill development.
Philip Stiles and Bernard Taylor
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780199258161
- eISBN:
- 9780191718342
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199258161.003.0004
- Subject:
- Business and Management, Corporate Governance and Accountability
The board's involvement in corporate strategy is often taken as the defining characteristic of its role in an organisation. This chapter focuses on the strategic role of the boards of directors and ...
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The board's involvement in corporate strategy is often taken as the defining characteristic of its role in an organisation. This chapter focuses on the strategic role of the boards of directors and argues that, while the board is not involved in strategy formulation, it determines the strategic context within which the firm operates. The board sets the context of strategy by establishing and actively reviewing the corporate definition (the ‘what business are we in’ question), through its gatekeeping function (actively assessing and reviewing strategic proposals, and often changing proposals through comment and advice), via confidence-building (encouraging managers with good track record in their strategic aims), and via selection of directors (the outcomes of which send strong signals to the rest of the organisation concerning the type of person who succeeds and the standards others have to attain).Less
The board's involvement in corporate strategy is often taken as the defining characteristic of its role in an organisation. This chapter focuses on the strategic role of the boards of directors and argues that, while the board is not involved in strategy formulation, it determines the strategic context within which the firm operates. The board sets the context of strategy by establishing and actively reviewing the corporate definition (the ‘what business are we in’ question), through its gatekeeping function (actively assessing and reviewing strategic proposals, and often changing proposals through comment and advice), via confidence-building (encouraging managers with good track record in their strategic aims), and via selection of directors (the outcomes of which send strong signals to the rest of the organisation concerning the type of person who succeeds and the standards others have to attain).
Mari Sako
- Published in print:
- 2006
- Published Online:
- September 2007
- ISBN:
- 9780199268160
- eISBN:
- 9780191708534
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268160.001.0001
- Subject:
- Business and Management, International Business
All firms wrestle with restructuring that involves consolidation through mergers and acquisitions on the one hand, and fragmentation through outsourcing and spin-offs on the other. Corporate ...
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All firms wrestle with restructuring that involves consolidation through mergers and acquisitions on the one hand, and fragmentation through outsourcing and spin-offs on the other. Corporate restructuring is a major driver in transforming labour markets, engendering concerns about employment security. The framework introduced in this book analyses shifting organizational boundaries, i.e., structural changes within corporations resulting from a series of strategic interplays between management and labour unions. This framework is used to investigate the symbiotic adjustments in firm and union boundaries in the automobile and electronics industries in Japan. The book draws upon interview and survey evidence to show how the strategic interplay between labour and management led to incremental changes in Japan's national institutions, including lifetime employment, coordinated wage bargaining, and enterprise union networks. The gradual introduction of diversity and flexibility in markets is thus linked directly to the role management and labour played in bringing about institutional change. The book also demonstrates that adding labour to the Chandlerian analysis of corporate strategy and structure leads us to a view that boundary decisions are often contested.Less
All firms wrestle with restructuring that involves consolidation through mergers and acquisitions on the one hand, and fragmentation through outsourcing and spin-offs on the other. Corporate restructuring is a major driver in transforming labour markets, engendering concerns about employment security. The framework introduced in this book analyses shifting organizational boundaries, i.e., structural changes within corporations resulting from a series of strategic interplays between management and labour unions. This framework is used to investigate the symbiotic adjustments in firm and union boundaries in the automobile and electronics industries in Japan. The book draws upon interview and survey evidence to show how the strategic interplay between labour and management led to incremental changes in Japan's national institutions, including lifetime employment, coordinated wage bargaining, and enterprise union networks. The gradual introduction of diversity and flexibility in markets is thus linked directly to the role management and labour played in bringing about institutional change. The book also demonstrates that adding labour to the Chandlerian analysis of corporate strategy and structure leads us to a view that boundary decisions are often contested.
James A. Phills
- Published in print:
- 2005
- Published Online:
- October 2011
- ISBN:
- 9780195171280
- eISBN:
- 9780199850327
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195171280.003.0006
- Subject:
- Business and Management, Strategy
This chapter provides a basis for understanding and managing three sets of issues: the interrelationship within complex multibusiness organizations, the domain of what is called corporate strategy; ...
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This chapter provides a basis for understanding and managing three sets of issues: the interrelationship within complex multibusiness organizations, the domain of what is called corporate strategy; ties that create relationships between two or more distinct organizations (both within and across sectors), alliances and partnerships; and coordinated efforts to shape the environment through industry-wide collaboration, coalitions and collective action. In addition, the chapter explores the fundamental questions that need to be addressed when one makes choices about whether, when, and how to establish and maintain these intra- and inter-organizational relationships, as well as some of the challenges associated with managing them on an ongoing basis. It is reported that alliances, no matter what benefits they bring, have to be entered into with a clear understanding of the costs and strategic implications of the relationship.Less
This chapter provides a basis for understanding and managing three sets of issues: the interrelationship within complex multibusiness organizations, the domain of what is called corporate strategy; ties that create relationships between two or more distinct organizations (both within and across sectors), alliances and partnerships; and coordinated efforts to shape the environment through industry-wide collaboration, coalitions and collective action. In addition, the chapter explores the fundamental questions that need to be addressed when one makes choices about whether, when, and how to establish and maintain these intra- and inter-organizational relationships, as well as some of the challenges associated with managing them on an ongoing basis. It is reported that alliances, no matter what benefits they bring, have to be entered into with a clear understanding of the costs and strategic implications of the relationship.
Kim Langfield‐Smith
- Published in print:
- 2006
- Published Online:
- May 2007
- ISBN:
- 9780199283361
- eISBN:
- 9780191712623
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199283361.003.0011
- Subject:
- Economics and Finance, Financial Economics
This chapter explains the relationship between management control systems (MCS) and strategy, and how this research area has developed over the last two decades. Examples of empirical studies that ...
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This chapter explains the relationship between management control systems (MCS) and strategy, and how this research area has developed over the last two decades. Examples of empirical studies that utilize various theoretical frameworks and research methods are presented to indicate the breadth of the research area and the ways that researchers have studied the field. Section 11.2 defines different perspectives of strategy that have emerged and explains how they have been used in MCS research. Section 11.3 tracks the development of MCS from its origins as a static cybernetic process, through to its focus as a strategic tool. The remainder of the chapter gives detailed examples of empirical research in the MCS-strategy area that illustrates the major types of research that have influenced our thinking of the MCS-strategy relationship.Less
This chapter explains the relationship between management control systems (MCS) and strategy, and how this research area has developed over the last two decades. Examples of empirical studies that utilize various theoretical frameworks and research methods are presented to indicate the breadth of the research area and the ways that researchers have studied the field. Section 11.2 defines different perspectives of strategy that have emerged and explains how they have been used in MCS research. Section 11.3 tracks the development of MCS from its origins as a static cybernetic process, through to its focus as a strategic tool. The remainder of the chapter gives detailed examples of empirical research in the MCS-strategy area that illustrates the major types of research that have influenced our thinking of the MCS-strategy relationship.
Roderick Martin, Peter D. Casson, and Tahir M. Nisar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199202607
- eISBN:
- 9780191707896
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199202607.003.0002
- Subject:
- Business and Management, Finance, Accounting, and Banking
Investor engagement ranges across a spectrum, from indirect/laissez-faire relations to direct investor involvement in specific areas of management practice. The methods of engagement range from ...
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Investor engagement ranges across a spectrum, from indirect/laissez-faire relations to direct investor involvement in specific areas of management practice. The methods of engagement range from informal discussion, the preferred mode of engagement, through to formal methods, such as shareholder resolutions. Investor engagement is placed in the context of other influences on management behaviour. Strategy and innovation are two areas of management practice where investors have especially high incentives to intervene.Less
Investor engagement ranges across a spectrum, from indirect/laissez-faire relations to direct investor involvement in specific areas of management practice. The methods of engagement range from informal discussion, the preferred mode of engagement, through to formal methods, such as shareholder resolutions. Investor engagement is placed in the context of other influences on management behaviour. Strategy and innovation are two areas of management practice where investors have especially high incentives to intervene.
NEIL M. KAY
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780199242115
- eISBN:
- 9780191697005
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199242115.003.0007
- Subject:
- Business and Management, Strategy, Organization Studies
This chapter explores the idea that the diversification of the firm proceeds according to certain design rules or principles, particularly in relation to the establishment of consistency or balance ...
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This chapter explores the idea that the diversification of the firm proceeds according to certain design rules or principles, particularly in relation to the establishment of consistency or balance within the pattern of links exploited by the firm. The idea of consistency of pattern in strategy is implicit in the notion of coherence of strategies. The chapter begins by exploring the notion of coherence and pattern in corporate strategy. There are four major categories that could display coherence: specialized, related-constrained, related-linked, and conglomerate strategies. The implications for design of corporate strategy are also examined and compared with actual patterns of diversification.Less
This chapter explores the idea that the diversification of the firm proceeds according to certain design rules or principles, particularly in relation to the establishment of consistency or balance within the pattern of links exploited by the firm. The idea of consistency of pattern in strategy is implicit in the notion of coherence of strategies. The chapter begins by exploring the notion of coherence and pattern in corporate strategy. There are four major categories that could display coherence: specialized, related-constrained, related-linked, and conglomerate strategies. The implications for design of corporate strategy are also examined and compared with actual patterns of diversification.
John Kay
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198289883
- eISBN:
- 9780191718205
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019828988X.003.0021
- Subject:
- Economics and Finance, Microeconomics
This chapter describes the evolution of business strategy. It begins with the 1960s perspective in which strategy was largely equated with corporate planning; the 1970s see an emphasis on ...
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This chapter describes the evolution of business strategy. It begins with the 1960s perspective in which strategy was largely equated with corporate planning; the 1970s see an emphasis on diversification and portfolio planning. The 1980s and 1990s are characterized by a focus on core competencies and the development of less analytic, more people‐oriented approaches to management. The still dominant rational approach to strategy is explained and its criticisms discussed. However, it is argued that these criticisms are based on a wish‐driven view of strategy and is not as relevant to a strategy rooted in the distinctive capabilities of the individual firm.Less
This chapter describes the evolution of business strategy. It begins with the 1960s perspective in which strategy was largely equated with corporate planning; the 1970s see an emphasis on diversification and portfolio planning. The 1980s and 1990s are characterized by a focus on core competencies and the development of less analytic, more people‐oriented approaches to management. The still dominant rational approach to strategy is explained and its criticisms discussed. However, it is argued that these criticisms are based on a wish‐driven view of strategy and is not as relevant to a strategy rooted in the distinctive capabilities of the individual firm.
Steven Casper
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199247752
- eISBN:
- 9780191596346
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199247757.003.0012
- Subject:
- Economics and Finance, Economic Systems
The chapter examines the key role played by legal frameworks in the construction of the political economy and its relationship to corporate strategy. Germany and the US have different legal systems. ...
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The chapter examines the key role played by legal frameworks in the construction of the political economy and its relationship to corporate strategy. Germany and the US have different legal systems. Drawing on an analysis of legal challenges associated with supplier network modernization within the automobile industry, the chapter demonstrates how German patterns of non‐market business coordination and highly regulatory laws channel firms towards patterns of corporate strategy associated with incremental innovation, or ‘diversified quality production’, and constrain against more radical innovation strategies. In the US, a more classical legal system combined with predominantly market‐based inter‐firm relations conduces towards radically innovative corporate strategies, but impinge on the establishment of incremental innovation patterns associated with diversified quality production.Less
The chapter examines the key role played by legal frameworks in the construction of the political economy and its relationship to corporate strategy. Germany and the US have different legal systems. Drawing on an analysis of legal challenges associated with supplier network modernization within the automobile industry, the chapter demonstrates how German patterns of non‐market business coordination and highly regulatory laws channel firms towards patterns of corporate strategy associated with incremental innovation, or ‘diversified quality production’, and constrain against more radical innovation strategies. In the US, a more classical legal system combined with predominantly market‐based inter‐firm relations conduces towards radically innovative corporate strategies, but impinge on the establishment of incremental innovation patterns associated with diversified quality production.
Giovanni Dosi, David J. Teece, and Josef Chytry (eds)
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780199269426
- eISBN:
- 9780191710179
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269426.001.0001
- Subject:
- Business and Management, Organization Studies
This book contains pioneering work on technological, organizational, and institutional change from leading theorists and practitioners such as Masahiko Aoki, Alfred D. Chandler Jr., Joseph Stiglitz, ...
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This book contains pioneering work on technological, organizational, and institutional change from leading theorists and practitioners such as Masahiko Aoki, Alfred D. Chandler Jr., Joseph Stiglitz, Oliver Williamson, and Sidney Winter. Using a trans-disciplinary approach, it explores three distinct themes: Markets and Organizations; Evolutionary Theory and Technological Change; and Strategy, Capabilities, and Knowledge Management. The chapters are drawn from the journal Industrial and Corporate Change, reflecting the diverse contributions it has published since 1992 in such areas as business history, industrial organization, strategic management, organizational theory, innovation studies, organizational behaviour, political science, social psychology, and sociology. This book provides an accessible account of recent research and theory on technological, organizational, and institutional change for academics and advanced students of Business and Management, Organization Theory, Technology and Innovation Studies, and Industrial Economics.Less
This book contains pioneering work on technological, organizational, and institutional change from leading theorists and practitioners such as Masahiko Aoki, Alfred D. Chandler Jr., Joseph Stiglitz, Oliver Williamson, and Sidney Winter. Using a trans-disciplinary approach, it explores three distinct themes: Markets and Organizations; Evolutionary Theory and Technological Change; and Strategy, Capabilities, and Knowledge Management. The chapters are drawn from the journal Industrial and Corporate Change, reflecting the diverse contributions it has published since 1992 in such areas as business history, industrial organization, strategic management, organizational theory, innovation studies, organizational behaviour, political science, social psychology, and sociology. This book provides an accessible account of recent research and theory on technological, organizational, and institutional change for academics and advanced students of Business and Management, Organization Theory, Technology and Innovation Studies, and Industrial Economics.
RICHARD WHITTINGTON and MICHAEL MAYER
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780199251049
- eISBN:
- 9780191714382
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199251049.003.0001
- Subject:
- Business and Management, Strategy
This chapter presents the focus of this book which is tracing the largest industrial corporations of France, Germany, and the United Kingdom over more than forty years, from post-war recovery to the ...
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This chapter presents the focus of this book which is tracing the largest industrial corporations of France, Germany, and the United Kingdom over more than forty years, from post-war recovery to the last decade of the 20th century. It also notes that this book followed these top European firms as they adopt, and sometimes abandon, new corporate strategies and as they develop new organisation structures to cope with these strategies. It outlines the arguments and data, and starts by introducing changing notions of effective strategy and structure. It connects these swings to the rise of contextualism in the study of management. Between the extremes of universalism and contextualism, it concludes for the value of a modestly generalizing social science of management.Less
This chapter presents the focus of this book which is tracing the largest industrial corporations of France, Germany, and the United Kingdom over more than forty years, from post-war recovery to the last decade of the 20th century. It also notes that this book followed these top European firms as they adopt, and sometimes abandon, new corporate strategies and as they develop new organisation structures to cope with these strategies. It outlines the arguments and data, and starts by introducing changing notions of effective strategy and structure. It connects these swings to the rise of contextualism in the study of management. Between the extremes of universalism and contextualism, it concludes for the value of a modestly generalizing social science of management.
Lorenzo Preve and Virginia Sarria-Allende
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199737413
- eISBN:
- 9780199775637
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199737413.001.0001
- Subject:
- Economics and Finance, Financial Economics
Working capital management is one of the most important topics in corporate finance: it relates to the operating investment of a firm and the way managers choose to finance it. This topic, mostly ...
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Working capital management is one of the most important topics in corporate finance: it relates to the operating investment of a firm and the way managers choose to finance it. This topic, mostly ignored by academics for years, is now gaining importance as we realize that financial markets are not as efficient as they were assumed to be, especially as firms expand outside the developed economies. This book provides a general framework that helps to understand working capital in a comprehensive approach, linking operating decisions to their financial implications and to the overall business strategy.Less
Working capital management is one of the most important topics in corporate finance: it relates to the operating investment of a firm and the way managers choose to finance it. This topic, mostly ignored by academics for years, is now gaining importance as we realize that financial markets are not as efficient as they were assumed to be, especially as firms expand outside the developed economies. This book provides a general framework that helps to understand working capital in a comprehensive approach, linking operating decisions to their financial implications and to the overall business strategy.
NEIL M. KAY
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780199242115
- eISBN:
- 9780191697005
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199242115.003.0006
- Subject:
- Business and Management, Strategy, Organization Studies
This chapter focuses on mapping corporate strategy and its application to an analysis of the recent strategies pursued by five large UK corporations, namely, Cadbury Schweppes, Thorn EMI, Ladbroke, ...
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This chapter focuses on mapping corporate strategy and its application to an analysis of the recent strategies pursued by five large UK corporations, namely, Cadbury Schweppes, Thorn EMI, Ladbroke, Trafalgar House, and Hillsdown Holdings. It begins by discussing the basis for constructing maps at corporate level and then examines the five strategies in detail. The chapter then explores the possibility of using maps of the corporation as a basis for analysing possible sources of internal economies and external threats.Less
This chapter focuses on mapping corporate strategy and its application to an analysis of the recent strategies pursued by five large UK corporations, namely, Cadbury Schweppes, Thorn EMI, Ladbroke, Trafalgar House, and Hillsdown Holdings. It begins by discussing the basis for constructing maps at corporate level and then examines the five strategies in detail. The chapter then explores the possibility of using maps of the corporation as a basis for analysing possible sources of internal economies and external threats.
John Kay
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198289883
- eISBN:
- 9780191718205
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019828988X.001.0001
- Subject:
- Economics and Finance, Microeconomics
Corporate success derives from a competitive advantage, which is based on distinctive capabilities. Competitive advantage relates to the unique character of a firm's relationship with its suppliers, ...
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Corporate success derives from a competitive advantage, which is based on distinctive capabilities. Competitive advantage relates to the unique character of a firm's relationship with its suppliers, customers, or employees, which must be precisely identified and applied to the relevant markets. Distinctive capabilities as sources of competitive advantage can be separated into four broad categories.Architecture refers to a network of relationships or implicit contracts within or around the firm. It adds value by helping to create organizational knowledge and routines, which enable the company to respond flexibly to changing circumstances and allow easy exchanges of information. Reputation is the main commercial mechanism for conveying information to consumers. By protecting and exploiting innovation, the company can derive competitive advantage, if it can appropriate the gains associated with it. A final potential source of competitive advantage not based on the distinctive capabilities of firms is a strategic asset that includes government‐mandated monopolies or other features of market structure, which restrict market access by competitors.Firms that enjoy distinctive capabilities must seek to transform them into competitive advantages. To achieve this, distinctive capabilities must be sustainable and their benefits must be appropriated through corporate and competitive strategies. Corporate strategy is concerned with the businesses the firm is in, competitive strategy with its relationship with other firms in the businesses it chooses. In each case, the key measure of corporate success is the ability of the firm to add value to the resources it uses.Less
Corporate success derives from a competitive advantage, which is based on distinctive capabilities. Competitive advantage relates to the unique character of a firm's relationship with its suppliers, customers, or employees, which must be precisely identified and applied to the relevant markets. Distinctive capabilities as sources of competitive advantage can be separated into four broad categories.
Architecture refers to a network of relationships or implicit contracts within or around the firm. It adds value by helping to create organizational knowledge and routines, which enable the company to respond flexibly to changing circumstances and allow easy exchanges of information. Reputation is the main commercial mechanism for conveying information to consumers. By protecting and exploiting innovation, the company can derive competitive advantage, if it can appropriate the gains associated with it. A final potential source of competitive advantage not based on the distinctive capabilities of firms is a strategic asset that includes government‐mandated monopolies or other features of market structure, which restrict market access by competitors.
Firms that enjoy distinctive capabilities must seek to transform them into competitive advantages. To achieve this, distinctive capabilities must be sustainable and their benefits must be appropriated through corporate and competitive strategies. Corporate strategy is concerned with the businesses the firm is in, competitive strategy with its relationship with other firms in the businesses it chooses. In each case, the key measure of corporate success is the ability of the firm to add value to the resources it uses.
John Kay
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198289883
- eISBN:
- 9780191718205
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019828988X.003.0001
- Subject:
- Economics and Finance, Microeconomics
There is a fundamental difference between wish‐driven strategies and strategies based on the effective match between external relationships of the firm and its own distinctive characteristics. The ...
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There is a fundamental difference between wish‐driven strategies and strategies based on the effective match between external relationships of the firm and its own distinctive characteristics. The case for the latter is made through the contrast of three stories of business success and three stories of business failure. Business success requires an adaptive and opportunistic strategy, which nevertheless remains rational, analytic, and calculated.Less
There is a fundamental difference between wish‐driven strategies and strategies based on the effective match between external relationships of the firm and its own distinctive characteristics. The case for the latter is made through the contrast of three stories of business success and three stories of business failure. Business success requires an adaptive and opportunistic strategy, which nevertheless remains rational, analytic, and calculated.
NEIL M. KAY
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780199242115
- eISBN:
- 9780191697005
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199242115.003.0004
- Subject:
- Business and Management, Strategy, Organization Studies
This chapter explores the logic of corporate specialization and explores the reasons for diversification. It examines firm survival and selection processes, analyses diversification as a response to ...
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This chapter explores the logic of corporate specialization and explores the reasons for diversification. It examines firm survival and selection processes, analyses diversification as a response to environmental pressures, and considers how diversification transforms the nature of the environmental selection processes facing the firm at corporate level. The chapter discusses the patterns of linkages and their role in defining the nature of corporate strategies. It also examines the double-edge nature of links, which provide both internal economies and shared vulnerability to external threats.Less
This chapter explores the logic of corporate specialization and explores the reasons for diversification. It examines firm survival and selection processes, analyses diversification as a response to environmental pressures, and considers how diversification transforms the nature of the environmental selection processes facing the firm at corporate level. The chapter discusses the patterns of linkages and their role in defining the nature of corporate strategies. It also examines the double-edge nature of links, which provide both internal economies and shared vulnerability to external threats.
W. Mark Fruin
- Published in print:
- 1994
- Published Online:
- November 2003
- ISBN:
- 9780198288985
- eISBN:
- 9780191596285
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288980.003.0007
- Subject:
- Economics and Finance, South and East Asia
This chapter offers a detailed examination of the evolution of focal factories, drawing most of its empirical evidence from a close reading of the histories of several Toshiba factories. Looking at ...
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This chapter offers a detailed examination of the evolution of focal factories, drawing most of its empirical evidence from a close reading of the histories of several Toshiba factories. Looking at the changing organizational interface between focal factories and company‐wide structures offers a valuable examination of the introduction of the multidivisional model of company organization and its impact on factory and shop‐floor practices at Toshiba. The chapter starts by looking at the general institutional consequences of late development, and then, for Toshiba, examines its history and organizational patterns, organizational boundaries and the focal factory, pre‐war and post‐war organization, post‐war product diversity, factory organization and management, and corporate strategy and factory response.Less
This chapter offers a detailed examination of the evolution of focal factories, drawing most of its empirical evidence from a close reading of the histories of several Toshiba factories. Looking at the changing organizational interface between focal factories and company‐wide structures offers a valuable examination of the introduction of the multidivisional model of company organization and its impact on factory and shop‐floor practices at Toshiba. The chapter starts by looking at the general institutional consequences of late development, and then, for Toshiba, examines its history and organizational patterns, organizational boundaries and the focal factory, pre‐war and post‐war organization, post‐war product diversity, factory organization and management, and corporate strategy and factory response.
