《[管理学]globalcorporatestrategy》

《[管理学]globalcorporatestrategy》

GlobalCorporateStrategyLecture1AnIntroductiontoGlobalStrategy\nSessionObjectivesIntroductiontoTheModuleToExploreDifferentConceptionsofStrategyTheExploreWhyGlobalStrategyIsParticularlyComplexToIntroduceKeyIssuesInGlobalStrategyToIntroduceKeyFrameworksInGlobalStrategy\nModuleLearningOutcomesBytheendofthemodule,studentswillbeableto:Explainresource-basedandinstitutionalapproachestointernationalstrategyExplaingenericformsofgrowthanddiversificationExplaintheprincipalformsofinternalorganisationandgovernanceofmultinationalenterprisesExplainthemainformsofinternationalentryandgrowthandwheneachislikelytobethepreferredapproachExplainhowthenatureofglobalproduction,logisticsanddistributionhavechangedandwhyandhowfirmscanevaluatetheirpreferredconfigurationExplainhowcompetitionevolvesininternationalbusinessandhowmultinationalenterprisescanmaintainandupgradetheircompetitivestrengthsExplainthenatureandformofstrategicalliancesandwhenthesewillbepreferredtointernationalmergersandacquisitionsExplainthekeyethicalissuesfacinginternationalbusinessesandapplyappropriateframeworksforframingethicalbehaviour\nLectureProgrammeIntroductionToGlobalStrategyResourcesandCapabilitiesInstitutions,CulturesandEthicsEntryStrategiesGlobalCompetitiveDynamicsMultinationalStrategies,StructureandLearningManagingExternalRelationshipsCorporateSocialResponsibilityTutorialsStartWeek2andRunOneWeekBehindLecturesMainText:Peng,M.(2009)GlobalStrategicManagement.SecondEdition.\nAssessment50%CourseworkBasedon“BusinessAbroad”SimulationGameIntroductionInComputerLabTuesday31.1.12DecisionDeadlines5pmMondayFirstRoundProperWeek2FiveFurtherRounds-LastRound12MarchGroupReportAssessingYourStrategyandCompetitors’Strategies–Max4000WordsHighMarksInCourseworkDependOnQualityofYourAnalysis,NotHowWellYouDidInGame50%Exam–2EssaysFrom5\nScheduleforBusinessAbroadManagementGame\nWhatIsStrategy?ThinkingInfluencedByMilitaryStrategyStrategyAsPlanHowToGetFromWhereWeAreNowToWhereWeWantToBeStrategyAsActionMintzberg–Strategies“Emerge”FromManyDecisionsTakenAtThe“FrontLine”StrategyAsIntegration/TheoryMidwayPoint:PlansStructureActionButDon’tGetCarriedOutExactlyPrinciplesShouldBeUnderstandableRepeatedTrialAndErrorRefinesUnderstandingExplainsWhyStrategyCanBeHardToChange\nAGeneralFrameworkforThinkingAboutStrategyBasicAssumptionFirmsArePursuingProfitProfit=TotalRevenue–TotalCostTwoRoutesToMakingMoreProfitRaiseMarginIncreaseValue,HencePriceLowerCostsGrowProfitByExpandingSalesVolumeNewMarketsNewProductsPorterHasFocusedOnTheValueChainAsTheSourceofAdvantage:PrimaryActivities:R&D;Production;Marketing&Sales,CustomerServiceSupportActivities:InformationSystems;Logistics;HumanResources\nWhatIsDifferentAboutGlobalStrategy?Tallman&Yip(2009,p308)“Ouransweristhatinternationalstrategy,whilestillbusinessstrategy,bringsforwardandexplicitconsiderationfortheeffectsoflocationaldifferencesandinstitutionalcontextsthatrequiresadaptationsintheapplicationofclassicstrategicanalysistechniquesandadoptionofadditionalanalyticalframeworks.”OnceNationalBoundariesAreCrossed,StrategyBecomesAnOrderofMagnitudeMoreDifficultTheUseof“Global”HasBeenOver-BlownRadicalShiftHasBeenTakingPlaceInMNEStrategiesFocusShiftingAwayFromExpansionofMarketsEmphasisOnOperatingIntegratedNetworksofActivities\nDunning’sEclecticParadigmNotDevisedAsAStrategicTool,ButHasPowerInThinkingAboutStrategyOwnershipAdvantagesFirmsNeedSourcesofCompetitiveAdvantageToSucceedInInternationalCompetitionMultinationalityItselfBuildsAdvantageLocationalAdvantagesWhereIsTheBestPlaceToProduce?SeekResourcesSeekMarketsSeekEfficiencyEmphasisNowOnSeekingStrategicAssetsInternalisationAdvantagesIsThereAnyAdvantageInDoingAThingYourselfRatherThanBuyGood/ServiceInMarket?\nAnOverviewOfTheEclecticParadigmandStrategy\nWhyDoFirmsDiffer/HowDoFirmsBehave?FundamentalPerspectiveOnWhyFirmsPursueParticularStrategiesPeng’sStrategyTripodIndustryCharacteristics:KeyFrameworkPorter’s“Five-Forces”ModelResource-BasedView:FirmsDifferInResourcesandCapabilitiesPlayToStrengthsandImprove/ProtectWeaknessesInstitutionalPerspectiveHowYouPlayDependsOnYourUnderstandingOfThe“RulesoftheGame”DifferentCountriesHaveDifferentCulturesandBusinessSystemsMajorIssueInInternationalMergersCanYouCopySuccessfulStrategiesofOverseasRivals?\nWhatDeterminesTheScopeOfTheFirm?ThreeImportantDimensions:GeographicScopeProductScopeWhatIsDoneIn-House,WhatByThirdPartiesFirmsIncreasingly“Fine-Slicing”TheirActivitiesDoOnlyCertainOnesInHousePickTheBestLocationForEachActivityLeadstoHighlyComplexGlobalProductionNetworksWideArrayOfCoordinationDevicesBothWithinandBetweenFirmsResource-BasedView:FirmsFocussingMoreOnActivitiesWhereTheyHaveKeyAdvantagesSizeandScopeBringManyPotentialAdvantages:ScaleandScopeEconomiesLearningEconomiesBuyer/SupplierPowerLargeInternalResources\nBalancingGlobalIntegrationwithLocalResponsivenessTrade-OffBetweenEfficiencyandEffectivenessFactorsPromotingGlobalIntegrationPolitical:FreerTradeandInvestmentTechnological:ICTandTransportationSocial:ConvergenceofConsumerTastesCompetition:RespondingToThreatsfromOverseasMNEsFactorsFavouringLocalAdaptationCulturalFactorsDemandSideSupplySideCommercialFactors:Distribution;Customisation;ResponsivenessTechnicalFactors:Standards;SpatialPresence;LanguagesLegalFactors:Regulation;LocalContentRules\nIntegration/ResponsivenessGrid\nGenericGlobalStrategiesGlobalStandardisationStrategyHighlyStandardisedOftenSubjectToLargeEconomiesofScaleInternationalStrategyReplicateTheSameBusinessModelinSeveralCountriesLocalisationStrategyEmphasisOnTailoringToLocalMarketsSubsidiariesHaveRelativelyLargeDiscretionTransnationalStrategyComplexAsCompetingForcesForIntegrationandLocalResponsivenessAreHighTheseStrategiesMayApplyAtBothCorporateAndBusinessUnitLevel\nWhatInternalStructureShouldAFirmAdopt?ThreeKeyDimensions:OnWhatBasisShouldTasksBeSub-Divided?AndHow,Then,WillTheyBeCoordinated?HowTall/ShallowShouldTheHierarchyBe?ToWhatExtentShouldDecisionMakingPowerBeDelegated?FourKeyIssues:PromotingEfficientandEffectiveInformationFlowsEstablishingControlSystemsToMonitorPerformanceAndAlignBehaviourWithObjectivesCreatingIncentivesforEffortInLinewithObjectivesFosteringACultureConducivetoCooperationandHarmonywithStrategy\nInternalStructurectd.Unitary/FunctionalFormBasisOfInternalOrganisationBusinessFunctionse.g.Marketing;Production;Accountingetc.FunctionsEachPeakAndAreCoordinatedAtTheTopOfTheOrganizationChiefExecutiveTakesStrategicOverviewAdvantages:Simple;Efficient;ClearCareerDevelopmentDisadvantages:LackofLateralCoordination;OverloadOnCEO;BureaucracyandControlLossMulti-DivisionalFormBasisofInternalOrganizationIsToGroupInterdependentActivitiesInDivisionsAndGiveTheAutonomyandIncentives\nInternalStructurectd.Williamson’sPrinciplesofOptimalDivisionalisationIdentifySeparateActivitiesWithinTheFirmGiveEachDivisionAutonomyMonitorEfficiencyPerformanceofEachDivisionAwardIncentivesAllocateCashFlowsToHigh-YieldUsesPerformStrategicPlanningKeyIssueforMNEs:WhichTakesPriority,ProductLine(GlobalIntegration)orGeographicRegion(LocalAdaptation)?M-formHypothesis:M-formShouldOutperformU-form\nMatrixOrganizationCreatesAProductAxisAndAGeographicAxisPeopleHaveDualLinesofCommandandDualResponsibilitiesBringsTogetherTwoCrucialInterdependenciesInTransnationalStrategyComplex,StressfulandSlowInPractice\nBalancingFlexibilityandRiskHowShouldFirmsCompeteInEmergingEconomies/WithMNEsFromEmergingEconomies?RapidlyGainingImportanceInTheGlobalEconomyMostInternationalBusinessStillFocussedOnTheTriadofNorthAmerica,EuropeandJapanNeedtoMakeStrategicandResourceCommitmentsToCompeteEffectivelyValueAlsoInMaintainingSomeDegreeofFlexibilityParticularlyinComplexandUncertainEnvironmentsFourKeyDimensionsofFlexibilityProductionShiftingFinancialArbitrageInformationArbitrageLeverageOpportunitiesHolyGrailofStrategy–WhatDeterminesSuperiorPerformance?MasteryofAllThreeElementsofTheTripodIncreasingEmphasisOnSustainablePerformanceThroughContinuousUpgrading\nIndustryCompetitionPorter’sFiveForcesModelStillAnImportantFrameworkGrewOutOfStructure-Conduct-PerformanceParadigmOfIndustrialEconomicsIndustriesDifferInAverageProfitabilityDueto:NumberandSizeDistributionofFirmsHeightofBarriersToEntryDegreeofProductDifferentiationPorterRe-ShapedKeyInsightsToDescribeFeaturesofAttractive/UnattractiveIndustriesFiveForces:IntensityofRivalryMoreThanJustAFewEvenlyMatchedFirmsCompetingforTheSameCustomersThreatofPotentialEntryEconomiesofScaleMayMakeBothLarge-ScaleandSmall-ScaleEntryUnattractiveNon-Scale-RelatedAdvantages–CostandNon-Cost-BasedProductDifferentiationFirstMoverAdvantagesBrandLoyaltyExperience-BasedCostAdvantagesStandardsContestsNetworkExternalities\nFiveForcesctd.BargainingPowerofSuppliersRaisePrice,LowerQualityorBothLinkedtoSizeandAbsenceofAlternativesBargainingPowerofBuyersSimilarIssuesThreatofSubstitutesHereProductsofDifferentIndustriesWhichCanServeNeedsofYourCustomersThreeStrategicImplicationsSomeIndustriesAreMoreAttractiveThanOthersFirmsShouldPositionThemselvesStrategicallyWithinAGivenIndustryLedToIdeaofGenericStrategies\nPorter’sGenericStrategiesCostLeadershipAcceptableQualityAtLowestCostTypicallyAimAtMassMarketNeedToContinuallyManageDownCostsCuttingTooManyCornersMayAlienateCustomersDifferentiationCreatePerceptionOfValueAndChargePremiumPricePricePremiumShouldExceedTheCostoftheExtrasTradeMarginforVolumeCreatesADefenceAgainstBuyerPowerNeedToContinuallyImproveMayNotKeepAheadofRivalsFocusFindANicheSegmentPursueCostFocusorDifferentiationFocus\nGenericStrategiesInTheHotelIndustry\nCritiquesOfPorter’sGenericStrategiesThreatsandOpportunitiesPorterTakesTooHostileAViewFirmsCooperateAsWellAsCompete“AllianceCapitalism”TooMuchFocusOnThreats,NotEnoughOnOpportunitiesIsThereASixthForce?WorldClassCompaniesRelyOnWorldClassSuppliersMayBePlace-SpecificIsItNecessarilyBadToBe“Stuck-In-The-Middle”?EvidenceInSupportOfThisWeakMNEsFromEmergingEconomiesDifferentiateInSomeMarkets,CompeteOnPriceInOthersIntegrationVersusOutsourcingPorterAdvocatesVerticalIntegrationToCombatBuyer/SupplierPowerCanBeComplexandInefficientDoesNotSitWellWithTrendToOutsourcingIgnoresFirmandInstitutionalInfluencesOnPerformance\nTheAnsoffGrowthMatrixFourGenericStrategiesMarketPenetrationSellMoreofExistingProductInExistingMarketProductDevelopmentSellNewProductsInExistingMarketMarketDevelopmentSellExistingProductInNewMarketsDiversificationSellNewProductsInNewMarkets