Entry Strategy Research. Perspectives on. Elements of the Entry Jigsaw. University of Bath, U.K. Keynote Presentation

Size: px
Start display at page:

Download "Entry Strategy Research. Perspectives on. Elements of the Entry Jigsaw. University of Bath, U.K. Keynote Presentation"

Transcription

1 Perspectives on Entry Strategy Research Klaus E Meyer University of Bath, U.K. Keynote Presentation 24 th Vaasa International Business Conference August 2009 Elements of the Entry Jigsaw

2 Entry Modes Sorry, forgot Consultancy Inward Tourism Inward Education Financial Services International Trade Exports Imports Contractual agreements Licensing Franchising Turnkey Projects R&D Contracts Management Contract Subcontracting (contract manufacturing, outsourcing) Joint ventures (shared ownership) Minority de novo JV Majority de novo JV Partial Acquisition Wholly owned subsidiary Greenfield Acquisition Resource-based Theories The Theory of the Growth of the Firm [Penrose, 1959] Resource-based view [Barney 1991, 2001, ] Knowledge-based theory [Grant, 1996] Dynamic Capabilities Perspective [Teece et al., 1997] Resources are the core building bloc to explain how firms attain competitive advantage, and grow; Knowledge is a key resource Knowledge augumentation (exploration) and exploitation are key drivers of entry strategy. Knowledge augmentation as defining characteristic of entry modes.

3 Entry Modes classified by the Entrant s Access to Local Resources High-access modes: Acquiring bundled local resources Full acquisition Partial acquisition as dominant shareholder Medium-access modes: Tapping into local resources Partial acquisition as non-dominant shareholder Majority joint venture Greenfield/Branch office run with expatriate and local professionals Minority joint venture Low-access modes: Exploiting HQ resources Greenfield/Branch office run with only expatriate professionals Consortium partnership Licensing, Franchising Temporary project offices Cross-border provision of services Small shareholder Most other forms of contractual collaboration [Source: Meyer, Wright & Pruthi, SMJ 2009] Geographically fungible resources H1, H2, H3 A Resource-based Framework for Analyzing the Efficiency of Entry Modes Location-specific resources H4, H5, H6, H7 Local experience H8 + Entry Mode: Access to Resources Value creation potential Local environment [Source: Meyer, Wright & Pruthi, SMJ 2009] Local resources Industry structure Institutions External uncertainty

4 Dimensions of Mode Choice? Access to local resources greenfield or acquisition Lower cost of obtaining e.g. brand names or distribution networks if the local partner firm can provide them (Hennart & Park 1993, Anand & Delios 2002). Control over local operation JV or acquisition reduces the costs associated with sharing ownership with a local partner, and the associated potential for unauthorised diffusion of information and coordination problems between co-owners (Buckley & Casson, 1976; Anderson & Gatignon, 1986; Hennart, 1988). Control and resource augmentation in entry modes High PA A Resource augmentation C2 Min JV Maj JV G2 Low C1 G1 Low High [Source: Meyer, Wright & Pruthi, SMJ 2009] Control

5 Institutions the humanly devised rules and regulation that govern economic activity (North) rules of the game Efficiency of Markets Transaction Costs e.g. information asymmetry, contract enforcement meachnisms, uncertainty Costs associated with finding partners, negotiating and enforcing contracts, measuring quality of products, etc. Business Strategies Design of organizational forms that minimize opportunity costs (or maximize revenues) Institutional Theory vs. Institutional Theory Institutional theory á la North ( institutional economics ) Rational economic agents reacting to incentives shaped by rules of the game Formal & informal rules of the game Institutional theory á la DiMaggio & Powell, Meyer & Rowan, Scott ( organization theory ) Key concepts legitimacy and mimetic behaviour Different logics, often similar predictions Yet, rigour of thought is usually stronger when clearly grounding arguments in one of these lines of theorizing. [Gelbuda, Meyer & Delios, JIM 2007] 10

6 Institutions and the choice of entry mode Weaker institutions generally less efficient markets more constraints (formal or informal) on foreigners doing business more JV More need for resources controlled by local firms more JV weaker contract enforcement fewer JV??? Inefficient financial market institutions information asymmetries (and thus fewer acquisitions Restrictive labour market institutions less organizational restructuring (and thus fewer acquisitions) 11 Institutional Distance and Entry Mode Choice Formal (regulatory) and informal (cultural) aspects Raises both the need for local partners and the costs of managing the relationships with local partners Opposing effects require careful consideration when which effect may dominate, and possibly non-linear effects. [Estrin, Meyer, Baghdasarian, JMS 2010] Opposing effects can principally lead to various functional forms [Meyer 2009, APJM editorial] 12

7 When are Transaction Costs a Problem that needs solving? Sensitivity to transaction costs: resources that the MNE intends to transfer [MNE perspective] e.g. R&D, technology main focus of entry mode research, e.g. J.F. Hennart s work Sensitivity to transaction costs: resources to be acquired/accessed locally [local firm perspective] Brand, reputation, networks Contextual variables that increase or reduce the efficiency of markets: Institutions Most of my older work. [Meyer, Estrin, Bhaumik & Peng, SMJ 2009] Likelihood of market failure v. Sensitivity to market failure [Meyer, Estrin, Bhaumik & Peng, SMJ 2009]

8 Partial acquisition Staged acquisition How to Adapt? Fine-tuning Entry Modes Jacobsen & Meyer, Vaasa 2007 Brownfield acquisition Estrin & Meyer, Vaasa 2009 Multiple acquisition Meyer & Tran, LRP

FEATURE. Strategies for emerging economy markets. Klaus Meyer, Professor of Strategy and International Business 6 PERSPECTIVE MARCH 08

FEATURE. Strategies for emerging economy markets. Klaus Meyer, Professor of Strategy and International Business 6 PERSPECTIVE MARCH 08 FEATURE Strategies for emerging economy markets Klaus Meyer, Professor of Strategy and International Business 6 PERSPECTIVE MARCH 08 Emerging economies have opened their gates, and multinational enterprises

More information

Topic 3. Entry Modes

Topic 3. Entry Modes Topic 3 Entry Modes Entering Foreign Markets Non Equity Modes Exporting Direct exporting Indirect exporting Subcontracting Licensing Franchising Contracts Management Contract Contract Manufacturing Non-Equity

More information

Control test under the EU Merger Regulation

Control test under the EU Merger Regulation EU China Trade Project (II) Workshop on DG Competition Procedures Beijing, 7 June 2011 Control test under the EU Merger Regulation JM. Carpi Badia Case Manager, Mergers (E.4) DG Competition, European Commission

More information

1980s. 1970s. 1990s 15/09/2015. Global Marketing Management: Planning and Organization. Learning Objectives. Global Marketing Management.

1980s. 1970s. 1990s 15/09/2015. Global Marketing Management: Planning and Organization. Learning Objectives. Global Marketing Management. Global Marketing Management: Planning and Organization Chapter 12 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO1 LO2 LO3 LO4 How global

More information

Chapter. Multinational and Entry Mode Strategies

Chapter. Multinational and Entry Mode Strategies Chapter 6 Multinational and Entry Mode Strategies Multinational Strategies: Dealing with the Global-Local Dilemma The Global-Local Dilemma: MNCs face: pressures to respond to the unique needs of the markets

More information

International vs. Global Competition

International vs. Global Competition The Four Big Strategic Issues in Competing Multinationally Screen graphics created by: Jana F. Kuzmicki, Ph.D. Troy University Whether to customize a company s offerings in each different country market

More information

Entry Mode Choice. Institutional, Cultural and Transaction. and Performance. Cost Influences on. Keith D. Brouthers

Entry Mode Choice. Institutional, Cultural and Transaction. and Performance. Cost Influences on. Keith D. Brouthers Institutional, Cultural and Transaction Cost Influences on Entry Mode Choice and Performance Keith D. Brouthers UNIVERSITY OF EAST LONDON In this study, we examine foreign market entry mode choice and

More information

TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI)

TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI) TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI) 1. FDI is a feature of a broader economic phenomenon referred to as internationalization. 2. Internationalization relates to the organization

More information

Analyzing Modes of Foreign Entry: Greenfield Investment versus Acquisition

Analyzing Modes of Foreign Entry: Greenfield Investment versus Acquisition Analyzing Modes of Foreign Entry: Greenfield Investment versus Acquisition Thomas Müller Discussion paper 2001-01 January 2001 Department of Economics, University of Munich Volkswirtschaftliche Fakultät

More information

1 Cooperation and the internationalisation of SMEs

1 Cooperation and the internationalisation of SMEs 1 Cooperation and the internationalisation of SMEs As a consequence of the globalisation of markets and in light of the constantly intensifying international competition, the number of small and mediumsized

More information

Department of Social Systems and Management. Discussion Paper Series

Department of Social Systems and Management. Discussion Paper Series Department of Social Systems and Management Discussion Paper Series No.1148 The Influence of Firm Specific Advantages and Entry Mode Choice on Performance: the Case of Japanese Foreign Direct Investment

More information

LINKING THEORY AND CONTEXT: STRATEGY RESEARCH IN EMERGING ECONOMIES AFTER WRIGHT ET AL. (2005) Dean Xu.

LINKING THEORY AND CONTEXT: STRATEGY RESEARCH IN EMERGING ECONOMIES AFTER WRIGHT ET AL. (2005) Dean Xu. LINKING THEORY AND CONTEXT: STRATEGY RESEARCH IN EMERGING ECONOMIES AFTER WRIGHT ET AL. (2005) Dean Xu deanxu@ceibs.edu Klaus E Meyer kmeyer@ceibs.edu China Europe International Business School 699 Hongfeng

More information

Market failure, relational failure and firm advantage

Market failure, relational failure and firm advantage Market failure, relational failure and firm advantage Reading-UNCTAD Conference, Reading June 2015 Anoop Madhok Schulich School of Business, York University Unintended knowledge spillovers Neoclassical

More information

TOTAL EXAM REVISION. Total Exam Revision BSB119 (Global Business) Abstract. BSB119 Global Business

TOTAL EXAM REVISION. Total Exam Revision BSB119 (Global Business) Abstract. BSB119 Global Business Total Exam Revision BSB119 (Global Business) Abstract This is total exam revision for BSB119 Focus is mostly on lectures 5, 6, 7, 9 & 10 BSB119 Global Business CONTENTS 1 Lecture 1 Globalisation & production...

More information

International Business Review ] (]]]]) ]]] ]]] Contents lists available at ScienceDirect. International Business Review

International Business Review ] (]]]]) ]]] ]]] Contents lists available at ScienceDirect. International Business Review International Business Review ] (]]]]) ]]] ]]] Contents lists available at ScienceDirect International Business Review journal homepage: www.elsevier.com/locate/ibusrev Export propensity and intensity

More information

Gaining Advantages through Joint Ventures

Gaining Advantages through Joint Ventures Gaining Advantages through Joint Ventures In this White Paper, Founders Investment Banking will examine the use of joint venture (JV) agreements to optimize business strategies in the oilfield. The energy

More information

Berlin Berlin Lisbon (HRM or Marketing Focus)

Berlin Berlin Lisbon (HRM or Marketing Focus) Berlin Berlin Lisbon (HRM or Marketing Focus) Semester 1: SRH Hochschule Berlin Name of Module Credits Self- M1 Leadership and Global Strategic 5 75 50 Management M5 Risk Management in Value Creation 5

More information

CHAPTER 16 THE BUSINESS SPHERE: FOR-PROFIT FIRMS Microeconomics in Context (Goodwin, et al.), 1 st Edition (Study Guide 2008)

CHAPTER 16 THE BUSINESS SPHERE: FOR-PROFIT FIRMS Microeconomics in Context (Goodwin, et al.), 1 st Edition (Study Guide 2008) CHAPTER 16 THE BUSINESS SPHERE: FOR-PROFIT FIRMS Microeconomics in Context (Goodwin, et al.), 1 st Edition (Study Guide 2008) Chapter Summary This chapter looks at topics including the legal organization

More information

Who can we trust? Cooperative Strategy. Cooperative Strategy. Strategic Alliance. Chapter 9. Cooperative strategy is a strategy in which firms

Who can we trust? Cooperative Strategy. Cooperative Strategy. Strategic Alliance. Chapter 9. Cooperative strategy is a strategy in which firms Chapter 9 Cooperative Strategy Who can we trust? 1 Cooperative Strategy Cooperative strategy is a strategy in which firms work together to achieve a shared objective Cooperating with other firms is a strategy

More information

The Role of the Top Management Team in the Choice of Entry Modes Theoretical Perspective

The Role of the Top Management Team in the Choice of Entry Modes Theoretical Perspective 2013, Vol. 1, No. 2 The Role of the Top Management Team in the Choice of Entry Modes Theoretical Perspective Sara Jiménez Burillo, Juan J. Jiménez Moreno A B S T R A C T Objective: Launching the process

More information

MASTERARBEIT. Titel der Masterarbeit. Greenfield or Acquisition? Equity Market Entry Strategies in Romania. Verfasserin.

MASTERARBEIT. Titel der Masterarbeit. Greenfield or Acquisition? Equity Market Entry Strategies in Romania. Verfasserin. MASTERARBEIT Titel der Masterarbeit Greenfield or Acquisition? Equity Market Entry Strategies in Romania Verfasserin Iulia Muntean angestrebter akademischer Grad Master of Science (MSc) Wien, 2013 Studienkennzahl

More information

M&A Strategy and Integration: Adapting to Today s Disruptive Business Models and the Changing Mechanics of Value Creation

M&A Strategy and Integration: Adapting to Today s Disruptive Business Models and the Changing Mechanics of Value Creation M&A Strategy and Integration: Adapting to Today s Disruptive Business Models and the Changing Mechanics of Value Creation By Nitin Kumar The rules of business continue to be redefined by highly disruptive

More information

ABSOLUTE AND RELATIVE RESOURCES AS DETERMINANTS OF INTERNATIONAL ACQUISITIONS

ABSOLUTE AND RELATIVE RESOURCES AS DETERMINANTS OF INTERNATIONAL ACQUISITIONS ABSOLUTE AND RELATIVE RESOURCES AS DETERMINANTS OF INTERNATIONAL ACQUISITIONS Strategic Management Journal Strat. Mgmt. J., 23: 119 134 (2002) DOI: 10.1002/smj.215 JAIDEEP ANAND 1 * and ANDREW DELIOS 2

More information

Acquisition versus Greenfield Foreign Entry:

Acquisition versus Greenfield Foreign Entry: Acquisition versus Greenfield Foreign Entry: Diversification Mode Choice in Central and Eastern Europe Desislava Dikova and Arjen van Witteloostuijn University of Groningen Faculty of Economics Department

More information

Emerging vs. Advanced Countries firms investing in Italy: an empirical analysis on the effect of institutional distance on the entry strategy.

Emerging vs. Advanced Countries firms investing in Italy: an empirical analysis on the effect of institutional distance on the entry strategy. Emerging vs. Advanced Countries firms investing in Italy: an empirical analysis on the effect of institutional distance on the entry strategy. Filip De Beule, Lessius and LICOS, University of Leuven (KU

More information

SONAE SR: ZIPLINING INTO NEW OPPORTUNITIES

SONAE SR: ZIPLINING INTO NEW OPPORTUNITIES SONAE SR: ZIPLINING INTO NEW OPPORTUNITIES HEC CONSULTANTS: MARJOLAINE BERGERON, FELICIA PARR, REBECA YANG, RYAN WILSON Introducing your company Founded in 1959 diversified portfolio and up-and-coming

More information

ITK E50 Yritysverkostot ja niiden informaatiojarjestelmat 2004 (3 ov) Jukka Heikkilä KTL, lehtori Marikka Heikkilä

ITK E50 Yritysverkostot ja niiden informaatiojarjestelmat 2004 (3 ov) Jukka Heikkilä KTL, lehtori Marikka Heikkilä ITK E50 Yritysverkostot ja niiden informaatiojarjestelmat 2004 (3 ov) Jukka Heikkilä jups@cc.jyu.fi KTL, lehtori Marikka Heikkilä mheikkil@jyu.fi General argument favoring shift toward Markets (Malone

More information

MODULE TITLE: Exploring Strategy

MODULE TITLE: Exploring Strategy SCHOOL OF ARTS, SOCIAL SCIENCES AND MANAGEMENT DIVISION OF BUSINESS, ENTERPRISE AND MANAGEMENT LEVEL 3 DIET 1 MODULE CODE: B3132 MODULE TITLE: Exploring Strategy DATE: 7 th December 2016 WRITING TIME:

More information

Entrepreneurship: Successfully Launching New Ventures, 3e (Barringer/Ireland) Chapter 14 Strategies for Firm Growth

Entrepreneurship: Successfully Launching New Ventures, 3e (Barringer/Ireland) Chapter 14 Strategies for Firm Growth Entrepreneurship: Successfully Launching New Ventures, 3e (Barringer/Ireland) Chapter 14 Strategies for Firm Growth 1) University Parent Media, the company profiled in the opening feature for Chapter 14,

More information

Part 2 Strategic Actions: Strategy Formulation 96

Part 2 Strategic Actions: Strategy Formulation 96 Michael A. Hitt Management of strategy Concepts and cases Part 1 Strategic Management Inputs 1 CHAPTER 1 Strategic Management 2 CHAPTER 2 Analysis of the External Environment 32 CHAPTER 3 Analysis of the

More information

SCHOOL OF DISTANCE EDUCATION :: ANDHRA UNIVERSITY 2-YEAR MBA II YEAR ASSIGNMENTS FOR THE ACADEMIC YEAR

SCHOOL OF DISTANCE EDUCATION :: ANDHRA UNIVERSITY 2-YEAR MBA II YEAR ASSIGNMENTS FOR THE ACADEMIC YEAR BUSINESS POLICY AND STRATEGIC MANAGEMENT 1. a) Objectives of Business Policy b) Business Ethics 2. a) SWOT Analysis b) The 7 S Framework in Strategic Management 3. a) Value Chain Analysis b) Turnaround

More information

Session 4: International Strategies

Session 4: International Strategies Session 4: International Strategies Dr Panagiota Sapouna, Email: sapouna@aueb.gr Strategic Business Decisions in Shipping The exploring strategy model 2 Learning outcomes Assess the internationalisation

More information

IDENTITY, COMMUNITY, AND AUDIENCE: HOW WHOLLY OWNED FOREIGN SUBSIDIARIES GAIN LEGITIMACY IN CHINA JIATAO LI

IDENTITY, COMMUNITY, AND AUDIENCE: HOW WHOLLY OWNED FOREIGN SUBSIDIARIES GAIN LEGITIMACY IN CHINA JIATAO LI IDENTITY, COMMUNITY, AND AUDIENCE: HOW WHOLLY OWNED FOREIGN SUBSIDIARIES GAIN LEGITIMACY IN CHINA JIATAO LI Department of Management of Organizations School of Business and Management Hong Kong University

More information

Economic Approaches to Organizations

Economic Approaches to Organizations Economic Approaches to Organizations Sytse Douma Tilburg University, the Netherlands Hein Schreuder DSM NV and Maastricht University, the Netherlands Prentice Hall FINANCIAL TIMES An imprint of Pearson

More information

Chapter Outline. Chapter 5 Strategies in Action. Long-Term Objectives. Types of Strategies. Integration Strategies

Chapter Outline. Chapter 5 Strategies in Action. Long-Term Objectives. Types of Strategies. Integration Strategies Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 13 th Edition Fred David Ch 5-1 Chapter Outline Long-Term Objectives Types of Strategies Integration Strategies Ch 5-2 1 Chapter Outline

More information

Irish SMEs going for growth SME Pulse Survey

Irish SMEs going for growth SME Pulse Survey www.pwc.ie Irish SMEs going for growth SME Pulse Survey What SMEs in Ireland are saying... Introduction John Dunne I am delighted to introduce our latest SME Pulse Survey which reflects the views of over

More information

6-1 Copyright 2011 Pearson Education, Inc. publishing as Prentice Hall. PowerPoint by: Mohamad Sepehri, Ph.D. Jacksonville University

6-1 Copyright 2011 Pearson Education, Inc. publishing as Prentice Hall. PowerPoint by: Mohamad Sepehri, Ph.D. Jacksonville University 6-1 PowerPoint by: Mohamad Sepehri, Ph.D. Jacksonville University Chapter Learning Goals 1. Understand why companies engage in international business. 2. Learn the steps in global strategic planning and

More information

When To Localize? Integration And Responsiveness In Subsidiaries In Transition Economies

When To Localize? Integration And Responsiveness In Subsidiaries In Transition Economies When To Localize? Integration And Responsiveness In Subsidiaries In Transition Economies Klaus Meyer School of Management, University of Bath Bath BA2 7AY, U.K. Phone: +44 (0)1225 383695 Email: km261@management.bath.ac.uk

More information

Rethinking oilfield. in Saudi Arabia Changing roles for the new era. Strategy& is part of the PwC network

Rethinking oilfield. in Saudi Arabia Changing roles for the new era. Strategy& is part of the PwC network Rethinking oilfield partnerships in Saudi Arabia Changing roles for the new era Strategy& is part of the PwC network Contacts About the authors Beirut Georges Chehade Partner +961-1-985-655 georges.chehade

More information

Outward Foreign Direct Investment Activities and Strategies by Firms from Emerging Markets: Management Literature Review from 2005 to 2010

Outward Foreign Direct Investment Activities and Strategies by Firms from Emerging Markets: Management Literature Review from 2005 to 2010 Outward Foreign Direct Investment Activities and Strategies by Firms from Emerging Markets: Management Literature Review from 2005 to 2010 Monica Yang Adelphi University, School of Business, Hagedorn Hall

More information

ISO 9000, Customer satisfaction & WTO challenge

ISO 9000, Customer satisfaction & WTO challenge ISO 9000, Customer satisfaction & WTO challenge By Imran Ahmad Rana Up until now too much has been written on the World Trade Organization (WTO) threat, and most of this has highlighted the non-competitiveness

More information

1. Introduction. Klaus M. Schmidt. LMU Munich. Contract Theory, Summer 2010

1. Introduction. Klaus M. Schmidt. LMU Munich. Contract Theory, Summer 2010 1. Introduction Klaus M. Schmidt LMU Munich Contract Theory, Summer 2010 Klaus M. Schmidt (LMU Munich) 1. Introduction Contract Theory, Summer 2010 1 / 12 What is Contract Theory? What is Contract Theory?

More information

What is strategic asset seeking FDI? Klaus Meyer, CEIBS 1. This version: February 21, 2015

What is strategic asset seeking FDI? Klaus Meyer, CEIBS 1. This version: February 21, 2015 What is strategic asset? Klaus Meyer, CEIBS 1 This version: February 21, 2015 Published in: Multinational Business Review, (2015), vol. 23(1), p. 57-66. Abstract Purpose: The concept of strategic asset

More information

International Subawards

International Subawards International Subawards Alternatives to Cost Reimbursable Subrecipient Agreements Presentation for the Federal Demonstration Partnership International Subawards Subcommittee 11 January 2008 David Brady,

More information

THE INTERNATIONALIZATION PROCESS OF HIGH-END INSULATION PRODUCTS FOR THE CHINESE MARKET

THE INTERNATIONALIZATION PROCESS OF HIGH-END INSULATION PRODUCTS FOR THE CHINESE MARKET THE INTERNATIONALIZATION PROCESS OF HIGH-END INSULATION PRODUCTS FOR THE CHINESE MARKET Abstract This master thesis aims towards a more effective internationalization approach for the existing business

More information

Economic Transition and Foreign Firms Ownership Strategy in China: The Impact of Cultural Distance and Industry R&D Intensity

Economic Transition and Foreign Firms Ownership Strategy in China: The Impact of Cultural Distance and Industry R&D Intensity Economic Transition and Foreign Firms Ownership Strategy in China: The Impact of Cultural Distance and Industry R&D Intensity Chuanyin Xie The University of Tampa This study investigates foreign firms

More information

Lecture 5 Alternatives to Vertical Integration

Lecture 5 Alternatives to Vertical Integration Lecture 5 Alternatives to Vertical Integration 1 Overview Integration and Alternative to Integration Technical vs. Agency Efficiency Double Marginalization Alternatives to Integration Tapered integration

More information

Graduate Course Catalogue SRH Hochschule Berlin

Graduate Course Catalogue SRH Hochschule Berlin Graduate Course Catalogue SRH Hochschule Berlin Master Programme International Management Table of Content Module 1 - Leadership & Global Strategic Management... 3 Module 2 - Intercultural Management...

More information

Knowledge Structure in International Marketing: A Multi Method Bibliometric Analysis

Knowledge Structure in International Marketing: A Multi Method Bibliometric Analysis Supplemental Appendices For Knowledge Structure in International Marketing: A Multi Method Bibliometric Analysis Saeed Samiee Brian R. Chabowski Journal of the Academy of Marketing Science THE FOLLOWING

More information

Multinational Enterprises and the Global Economy, Second Edition

Multinational Enterprises and the Global Economy, Second Edition Multinational Enterprises and the Global Economy, Second Edition John H. Dunning Emeritus Esmee Fairbairn Professor of International Investment and Business Studies, University of Reading, UK and Emeritus

More information

An internalization approach to joint ventures: the case of Coca-Cola in China

An internalization approach to joint ventures: the case of Coca-Cola in China An internalization approach to joint ventures: the case of Coca-Cola in China Article (Unspecified) Mok, Vincent, Dai, Xiudian and Yeung, Godfrey (2002) An internalization approach to joint ventures: the

More information

Analyzing Foreign Market Entry Strategies: Extending the Internalization Approach

Analyzing Foreign Market Entry Strategies: Extending the Internalization Approach See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/5222817 Analyzing Foreign Market Entry Strategies: Extending the Internalization Approach ARTICLE

More information

MBA ELECTIVE COURSES & INDUSTRY SPECIALISATIONS

MBA ELECTIVE COURSES & INDUSTRY SPECIALISATIONS MBA ELECTIVE COURSES & INDUSTRY SPECIALISATIONS Aimed at boosting their professional profile, MBA students choose how to build their future by customising their curriculum. Tracks and Industry specialisations

More information

Asymmetry Reduction Theory of FDI: The Aspiration-Resource-Control (ARC) Framework. Xin Li Copenhagen Business School, Denmark

Asymmetry Reduction Theory of FDI: The Aspiration-Resource-Control (ARC) Framework. Xin Li Copenhagen Business School, Denmark Asymmetry Reduction Theory of FDI: The Aspiration-Resource-Control (ARC) Framework Xin Li Copenhagen Business School, Denmark xl.int@cbs.dk paper presented at The Sixth Biannual Aalborg International Business

More information

Transforming the office of the CFO

Transforming the office of the CFO www.pwc.in Transforming the office of the CFO Maximising Finance Effectiveness We help the office of the CFO to optimise and excel in business insights, efficiency and control We address the fundamental

More information

Leveraging IT in Mergers, Acquisitions and Divestitures. Capturing Expected Value Today and Transforming the Organization for the Future

Leveraging IT in Mergers, Acquisitions and Divestitures. Capturing Expected Value Today and Transforming the Organization for the Future Leveraging IT in Mergers, Acquisitions and Divestitures Capturing Expected Value Today and Transforming the Organization for the Future According to Accenture research, one important characteristic of

More information

Implementing a corporate legal process outsourcing solution. Key considerations before embarking on the legal service delivery transformation journey

Implementing a corporate legal process outsourcing solution. Key considerations before embarking on the legal service delivery transformation journey Implementing a corporate legal process outsourcing solution Key considerations before embarking on the legal service delivery transformation journey You read it online every day: increasing regulations

More information

INTERNATIONALIZATION OF ADVERTISING AGENCIES

INTERNATIONALIZATION OF ADVERTISING AGENCIES INTERNATIONALIZATION OF ADVERTISING AGENCIES An assessment of the applicability of the eclectic theory and the Uppsala model towards advertising agencies Bachelor Thesis 6th Semester Author: Christian

More information

Master of Business Administration Course Descriptions

Master of Business Administration Course Descriptions Master of Business Administration Course Descriptions CORE COURSES MBAB 5P01 Accounting for Decision-Making I The functional basics of accounting for management and business decisions. Data collection,

More information

Business Network Dynamics and M&As: Structural and Processual Connectedness

Business Network Dynamics and M&As: Structural and Processual Connectedness Business Network Dynamics and M&As: Structural and Processual Connectedness Helén Anderson The International Graduate School of Management and Industrial Engineering at Linköping University, Department

More information

THE EFFECTS OF INTERNATIONAL MARKETING ENVIRONMENT ON DOMESTIC MARKETS

THE EFFECTS OF INTERNATIONAL MARKETING ENVIRONMENT ON DOMESTIC MARKETS THE EFFECTS OF INTERNATIONAL MARKETING ENVIRONMENT ON DOMESTIC MARKETS Ahrabie Kirubasuthan 1 and Niranjan.R 2 Department Of Commerce, Faculty of Science and Humanities, (1, 2) SRM Institute of Science

More information

IDENTITY, COMMUNITY, AND AUDIENCE: HOW WHOLLY OWNED FOREIGN SUBSIDIARIES GAIN LEGITIMACY IN CHINA

IDENTITY, COMMUNITY, AND AUDIENCE: HOW WHOLLY OWNED FOREIGN SUBSIDIARIES GAIN LEGITIMACY IN CHINA Academy of Management Journal 2007, Vol. 50, No. 1, 175 190. Copyright of the Academy of Management, all rights reserved. Contents may not be copied, emailed, posted to a listserv, or otherwise transmitted

More information

Management controls in automotive international joint ventures involving Chinese parent companies

Management controls in automotive international joint ventures involving Chinese parent companies Management controls in automotive international joint ventures involving Chinese parent companies Research executive summary series Volume 7 Issue 9 Pingli Li Middlesex University Business School, UK Guliang

More information

Emerging Markets: A Case Study on Foreign Market Entry in Bangladesh

Emerging Markets: A Case Study on Foreign Market Entry in Bangladesh Emerging Markets: A Case Study on Foreign Market Entry in Bangladesh Authors: Md. Ashiqur Rahman, Marketing, Master Programme Feleke Desta Tantu Marketing, Master Programme Tutor: Prof. Mosad Zineldin

More information

SYLLABUS - ANALYSIS AND DECISION (20 credits)

SYLLABUS - ANALYSIS AND DECISION (20 credits) Chartered Postgraduate Diploma in Marketing (Level 7) SYLLABUS - ANALYSIS AND DECISION (20 credits) This unit consists of three parts: Strategic audit, Strategic options, and Making strategic marketing

More information

6 th International Scientific Conference May 13 14, 2010, Vilnius, Lithuania BUSINESS AND MANAGEMENT 2010 Selected papers. Vilnius, 2010 ISSN 2029-4441 print / ISSN 2029-428X CD doi:10.3846/bm.2010.040

More information

HFSF Operational Strategy

HFSF Operational Strategy HFSF Operational Strategy Mission / Purpose of the HFSF As per L. 3864/2010 the HFSF s primary mission is to contribute to the maintenance of the stability of the Greek banking system, for the sake of

More information

Our Business Is Knowing Your Business

Our Business Is Knowing Your Business OUR BUSINESS IS KNOWING YOUR BUSINESS Moser Taboada provides high quality IP and commercial legal services custom-tailored to each client s unique business needs and goals From the onset of our representation,

More information

Critical Success Factors of Collaboration for Public Service

Critical Success Factors of Collaboration for Public Service Critical Success Factors of Collaboration for Public Service Different factors affect the performance of these collaboration projects. These factors are related either to the project's macro, meso or micro

More information

CHAPTER 3: INTERNATIONAL MANAGEMENT AND GLOBALIZATION Multiple Choice Questions

CHAPTER 3: INTERNATIONAL MANAGEMENT AND GLOBALIZATION Multiple Choice Questions CHAPTER 3: INTERNATIONAL MANAGEMENT AND GLOBALIZATION Multiple Choice Questions 1. According to Steve Radewych is the process of closing high-cost manufacturing plants and opening others in regions of

More information

Corporate Level Strategy and Long Run profitability

Corporate Level Strategy and Long Run profitability Corporate Level Strategy and Long Run profitability Chapter 7 Growth does not always lead a business to build on success. All too often it converts a highly successful business into a mediocre large business.

More information

THIRD EDITION VOLUME 6. Edited by. Markus Vodosek, Deanne N. Den Hartog, and Jeanne M. McNett. German Graduate School of Management

THIRD EDITION VOLUME 6. Edited by. Markus Vodosek, Deanne N. Den Hartog, and Jeanne M. McNett. German Graduate School of Management WILEY ENCYCLOPEDIA OF MANAGEMENT THIRD EDITION VOLUME 6 INTERNATIONAL MANAGEMENT Edited by Markus Vodosek, Deanne N. Den Hartog, and Jeanne M. McNett German Graduate School of Management & Law (GGS), University

More information

THE AMA HANDBOOK OF DUE DILIGENCE

THE AMA HANDBOOK OF DUE DILIGENCE This is a complete list of the nearly-400 ready-to-use forms you ll find in The AMA Handbook of Due Diligence, the most exhaustive guide available on how to properly perform a due dilgence investigation

More information

A new generation of multinational companies (MNCs)

A new generation of multinational companies (MNCs) A new generation of multinational companies (MNCs) Agenda From Multinational to Transnational corporations Managing across Borders: New Strategic Requirements Managing across Borders: New Organizational

More information

Australia Brazil Japan Korea Mexico Singapore Spain United Kingdom United States

Australia Brazil Japan Korea Mexico Singapore Spain United Kingdom United States SIXTH EDITION BUSINESS IN CONTEXT AN INTRODUCTION TO BUSINESS AND IIS ENVIRONMENT DAVID NEEDLE /V CENGAGE Learning" Australia Brazil Japan Korea Mexico Singapore Spain United Kingdom United States CONTENTS

More information

Striking a New Balance Effective Collaboration within National Organizations

Striking a New Balance Effective Collaboration within National Organizations Striking a New Balance Effective Collaboration within National Organizations NATIONAL ASSEMBLY OF HEALTH AND HUMAN SERVICE ORGANIZATIONS Leadership Retreat November 8, 2002 CONTENTS Review range of organizational

More information

Web and internationalization: new opportunities for Italian Small- Medium Enterprises?

Web and internationalization: new opportunities for Italian Small- Medium Enterprises? Corso di Laurea magistrale (ordinamento ex D.M. 270/2004) In Economia e Gestione delle Aziende International Management Tesi di Laurea Web and internationalization: new opportunities for Italian Small-

More information

Other important benefits to the government from CTAs include: Consolidation of requirements with a single business entity,

Other important benefits to the government from CTAs include: Consolidation of requirements with a single business entity, 60 Contract Management March 2010 Contract Management March 2010 61 unpopulated joint venture/limited liability companies: formation and exit strategies The federal government recognizes the practice of

More information

Mergers and Acquisitions in the Biotechnology Industry

Mergers and Acquisitions in the Biotechnology Industry Mergers and Acquisitions in the Biotechnology Industry For venture-backed biotech companies, the approval of a new drug is a long-term prospect that requires extensive time and effort for research, development,

More information

Managerial and behavioural theories of the firm

Managerial and behavioural theories of the firm Managerial and behavioural theories of the firm 1 NOT REALISTIC 1. Managers can have their own goals (different from profit maximisation) 2. Uncertainty and imperfect information 3. Modern firms are complex

More information

Globalfocusing: From Domestic Conglomerates to Global Specialists

Globalfocusing: From Domestic Conglomerates to Global Specialists Globalfocusing: From Domestic Conglomerates to Global Specialists Klaus E. Meyer University of Reading, UK Please refer to the published version of the paper when citing: Meyer, Klaus E. (2006): Globalfocusing:

More information

1 August 2017 United Energy Ring Fencing Strategy

1 August 2017 United Energy Ring Fencing Strategy 1 August 2017 ii An appropriate citation for this paper is: Contact Person Verity Watson United Energy United Energy Distribution Pty Limited ABN 70 064 651 029 6 Nexus Court, Mulgrave VIC 3170 T (03)

More information

Social Network Strategic Plan. Olga Botero EMBA A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011

Social Network Strategic Plan. Olga Botero EMBA A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011 Social Network Strategic Plan Olga Botero EMBA690-1101A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011 Strategy Approach Focus on a single segment and use differentiation

More information

The internationalization of emerging market firms: motivations and approaches.

The internationalization of emerging market firms: motivations and approaches. Università degli Studi di Bergamo Dottorato in Marketing Strategico ed Economia Aziendale XXIV Ciclo The internationalization of emerging market firms: motivations and approaches. Dott.ssa ELENA CORTESI

More information

Cross-border acquisitions vs. Greenfield investment: A comparative performance analysis in Greece

Cross-border acquisitions vs. Greenfield investment: A comparative performance analysis in Greece 1 Cross-border acquisitions vs. Greenfield investment: A comparative performance analysis in Greece ABSTRACT This paper compares cross-border acquisition with Greenfield foreign direct investment (FDI).

More information

Translate stakeholder needs into strategy. Governance is about negotiating and deciding amongst different stakeholders value interests.

Translate stakeholder needs into strategy. Governance is about negotiating and deciding amongst different stakeholders value interests. Principles Principle 1 - Meeting stakeholder needs The governing body is ultimately responsible for setting the direction of the organisation and needs to account to stakeholders specifically owners or

More information

Today s CPE presentation will be on Small Business Growth Strategies.

Today s CPE presentation will be on Small Business Growth Strategies. NOTE: The following text, for all slides, is adapted from the video transcript. Introduction: Welcome, for those of you who do not already know me, my name is and I am this firm's ADP representative. Today

More information

COMM 210 Midterm Study Guide

COMM 210 Midterm Study Guide Kyle Nobrega Da Camara COMM 210 Midterm Study Guide Claims: A claim is the major conclusion of a piece of writing that the author is trying to persuade you to accept Explicitly or implicitly stated Likely

More information

ACCC Review of Proposed Timber Transaction

ACCC Review of Proposed Timber Transaction 28 October 2009 Company Announcements Platform Australian Securities Exchange ACCC Review of Proposed Timber Transaction Please find attached a release to the market. Yours sincerely Wayne Chapman Company

More information

Internationalization and entry mode determinants of SMEs: The case of Adira

Internationalization and entry mode determinants of SMEs: The case of Adira Internationalization and entry mode determinants of SMEs: The case of Adira Candidate: António Vicente Milheiro Menéres vicentemeneres@gmail.com Advisor: Professor Laure Leglise Dissertation submitted

More information

CORPORATE PRESENTATION. ESTUDIO JURIDICO ANTONIO ABRIL. C/ Velázquez 94, planta 1, 28006, Madrid

CORPORATE PRESENTATION. ESTUDIO JURIDICO ANTONIO ABRIL. C/ Velázquez 94, planta 1, 28006, Madrid CORPORATE PRESENTATION ESTUDIO JURIDICO ANTONIO ABRIL. C/ Velázquez 94, planta 1, 28006, Madrid. +34 91 133 26 49 info@antonioabril.com Areas of practice Managing Partner Why our Firm Fields of expertise

More information

Economic Distance and Survival of Foreign Direct Investments

Economic Distance and Survival of Foreign Direct Investments 1 Economic Distance and Survival of Foreign Direct Investments ERIC W. K. TSANG* Business Department School of Business Administration 328 Prentis Building Wayne State University Detroit, MI 48202 USA

More information

Business Studies 2006 HIGHER SCHOOL CERTIFICATE EXAMINATION. Total marks 100. Section I Pages 2 8

Business Studies 2006 HIGHER SCHOOL CERTIFICATE EXAMINATION. Total marks 100. Section I Pages 2 8 2006 HIGHER SCHOOL CERTIFICATE EXAMINATION Business Studies Total marks 100 Section I Pages 2 8 General Instructions Reading time 5 minutes Working time 3 hours Write using black or blue pen Draw diagrams

More information

HIGHER EDUCATION AS A SERVICE PRODUCTION SYSTEM

HIGHER EDUCATION AS A SERVICE PRODUCTION SYSTEM NUAS 5.2.2008 HIGHER EDUCATION AS A SERVICE PRODUCTION SYSTEM Paul Lillrank Professor Department of Industrial Engineering and Management Helsinki University of Technology 1 RESEARCH IN HEALTH AND WELLFARE

More information

Case Interview Marathon Workshop

Case Interview Marathon Workshop Case Interview Marathon Workshop Victor Cheng s Case Interview Core Frameworks v1.0 By Victor Cheng www.caseinterview.com These materials provided on an as is basis with no warranty or guarantee expressed

More information

THE POWER OF COLLABORATION. OMAN s PREMIER LAW FIRM

THE POWER OF COLLABORATION. OMAN s PREMIER LAW FIRM THE POWER OF COLLABORATION OMAN s PREMIER LAW FIRM THE POWER OF COLLABORATION INTRODUCTION Al Lawati Ezzat Aqrab Lawyers and Legal consultancy (TAQI Law ), a reputed firm offering full-fledged legal services,

More information

Corporate Level and International Strategy

Corporate Level and International Strategy Corporate Level and International Strategy Corporate Level and International Strategy - Outline Product and geographical diversity Related and unrelated diversification Attractions of international markets

More information

FUTURE READY FORUM. Future Ready Forum. Global Megatrends: Key drivers for Strategy & Change

FUTURE READY FORUM. Future Ready Forum. Global Megatrends: Key drivers for Strategy & Change FUTURE READY FORUM Future Ready Forum Global Megatrends: Key drivers for Strategy & Change Dr. Frank Siegfried, 20 February 2017 1 Did You Know? (Officially updated for 2017) Source: YouTube https://www.youtube.com/watch?v=u06bxgwbgva

More information

Emerging Market Firms Internationalization: How Do Firms Inward Activities Affect Their Outward Activities?

Emerging Market Firms Internationalization: How Do Firms Inward Activities Affect Their Outward Activities? Strategic Management Journal Strat. Mgmt. J., 38: 2704 2725 (2017) Published online EarlyView 28 July 2017 in Wiley Online Library (wileyonlinelibrary.com).2679 Received 2 May 2014; Final revision received

More information