...2009 Peng, Sun, Pinkham, and Chen A R T I 63 C L E The Institution-Based View as a Third Leg for a Strategy Tripod by Mike W. Peng, Sunny Li Sun, Brian Pinkham, and Hao Chen Executive Overview This article identifies the emergence of the institution-based view as a third leading perspective in strategic management (the first two being the industry-based and resource-based views). We (a) review the roots of the institution-based view, (b) articulate its two core propositions, and (c) outline how this view contributes to the four fundamental questions in strategy. Overall, we suggest that the institution-based view represents the third leg of a strategy tripod, overcomes the long-standing criticisms of the industrybased and resource-based views’ lack of attention to contexts, and contributes significant new insights as part of the broader intellectual movement centered on new institutionalism. A s part of a broader intellectual movement centered on new institutionalism throughout the social sciences in recent decades (DiMaggio & Powell, 1983, 1991; North, 1990, 2005; Scott, 1987, 1995, 2008b; Williamson, 1975, 1985), strategic management researchers have increasingly realized that institutions are more than background conditions (Oliver, 1997; Peng & Heath, 1996). Instead, “institutions directly determine what arrows a firm has in its quiver as it struggles to formulate and implement strategy” (Ingram & Silverman, 2002, p. 20...
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...Four The External Environment 53 M any companies are surprised by changes in the external environment. Perhaps the greatest tumult for today’s organizations has been created by the rapid expansion of e-commerce. For example, Amazon.com was ringing up on-line book sales for more than a year before managers at Barnes & Noble even began thinking about a Web site. Barnes & Noble was highly successful with its book superstore concept, but its early efforts in e-commerce were marked by costly mistakes and missed opportunities. Even though the company burned through $100 million in an effort to “crush Amazon,” Barnesandnoble.com was still selling only 15 percent of books bought online compared to Amazon’s 75 percent.1 Firms in every industry, from auto manufacturing to telecommlunications, face similar uncertainty. Many factors in the external environment cause turbulence and uncertainty for organizations.Anheuser-Busch’s CEO, for example, admits that his company was “five years late in recognizing that microbreweries were going to take as much market share as they did and five years late in recognizing that we should have joined them.”2 Small retailers have long suffered threats from huge discount stores such as Wal-Mart and Home Depot....
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...Amazon’s Executive Summary Amazon started off as an internet based company under Amazon.com, Inc in July of 1995 and operates as an online retailer in North America and internationally, which was founded in 1994 by Jeff Bezos and formerly known as Cadabra.com and has been very lucrative every since its existence. It’s headquartered in Seattle, WA (Bladeknight, 2008). Amazon continues to operate various retail Web sites, including Amazon.com, Amazon.co.fr, Amazon.co.jp, Amazon.co.uk, Amazon.co.de, Amazon.cn, and Amazon.ca. Amazon specializes in a mixture of products, such as digital downloads, music and games, electronics and computers, movies, books, kids and baby items, toys, home and garden, jewelry, health and beauty supplies, apparels, grocery, auto, industrial items, tools, and sports and outdoors accessories (Amazon.com, Inc 2010). Their additional strategy is to focus more on their first new on-site store in Philadelphia. Amazon’s marketing strategy is to focus on their on-site store in Philadelphia, PA and push for it to be as promising as their on-line businesses. They will implements this strategy by continuing with their competitive pricing and beating anyone of their competitors’ pricing on any one items that is sold in their store or websites. Their consumers would be allowed to purchase products that are not on the on-site store shelves or inventory on-line and have the option to have it shipped to the Philadelphia location. The shipping would be free of...
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...BUSINESS-LEVEL STRATEGY By Alan S. Gutterman 1 Abstract Growth is a key goal and objective for emerging companies and management must carefully determine the best way to combine the core competencies within a firm’s functional departments to provide the firm with the best opportunity for achieving and sustaining a competitive advantage in its chosen environment. This report focuses on the process of setting business level-strategy, which includes (1) selecting the domain(s) in which the firm will be competing for scarce resources (e.g., capital, personnel, technology, inputs and customers) and (2) positioning the firm in each chosen domain so that its function-based core competencies are most effectively leveraged to establish a competitive advantage. The overall goal of business-level strategy is to protect the firm’s position in its current domain and, if possible, enlarge the domain in which the firm can operate with a competitive advantage. I. Overview Senior executives and managers involved in the development and implementation of business-level strategies are tasked with identifying the core competencies within the various functional departments of the company and combining them in a way that provides the company with the best opportunity for achieving and sustaining a competitive advantage in its chosen environment. The key choices that must be made when setting business-level strategy include: (1) selecting the domain(s) in which the company will...
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...your request online by visiting the Elsevier website at http://www.elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloguing in Publication Data Control Number: 2005938727 ISBN–13: 978-0-7506-6731-9 ISBN–10: 0-7506-6731-1 For information on all Butterworth-Heinemann publications visit our website at http:/ /books.elsevier.com Printed and bound in The Netherlands 06 07 08 09 10 10 9 8 7 6 5 4 3 2 1 Contents Preface Acknowledgements Chapter 1 Introduction Key issues Defining e-business The development of the new economy Types of e-business and related industries The growth of e-business Use of the internet Key people Scope of the book Structure of the book Case studies References Chapter 2 E-business technology Key issues...
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...An Integrated Approach to Strategy Running Case Featuring Wal-Mart Wal-Mart’s Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating...
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...An Integrated Approach to Strategy Running Case Featuring Wal-Mart Wal-Mart’s Competitive Advantage (Chapter 1) ● Working Conditions at Wal-Mart (Chapter 2) ● Wal-Mart’s Bargaining Power over Suppliers (Chapter 3) ● Human Resource Strategy and Productivity at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating...
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...Market Report 2014 Ninth Edition January 2014 Edited by Leah Tutt ISBN 978-1-78304-102-2 Further & Higher Education Further & Higher Education Foreword In today’s competitive business environment, knowledge and understanding of your marketplace is essential. With over 30 years’ experience producing highly respected off-the-shelf publications, Key Note has built a reputation as the number one source of UK market information. Below are just a few of the comments our business partners and clients have made on Key Note’s range of reports. “The test of any marketing strategy and plan lies in the quality of information used, upon which marketing judgments and decisions are based. Quality is the key word here. The Key Note reports are an excellent source of such quality information, covering a wide variety of product sectors.” The Chartered Institute of Marketing “We have enjoyed a long-standing relationship with Key Note and have always received an excellent service. Key Note reports are well produced and are always in demand by users of the business library. Having subscribed to Market Assessment reports for a number of years, we continue to be impressed by their quality and breadth of coverage.” The British Library “When we are putting together strategic information for presentations to major retailers and Symington’s Board, the combination of Key Note’s market research and company information proves invaluable. It is accurate and easy to use, and provides us with...
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...Professor Roger Palmer, Head of the School of Management, Henley Business School, UK The globalization of companies is the involvement of customers, producers, suppliers, and other stakeholders in the global marketing process. Global marketing therefore reflects the trend of firms selling products and services across many countries. Drawing on an incomparable breadth of international examples, Svend Hollensen not only demonstrates how global marketing works, but also how it relates to real decisions around the world. This book offers a truly global approach with cases and exhibits from all parts of the world, including Europe, the Middle East, Africa, the Far East, North and South America. It provides a complete and concentrated overview of the total international marketing planning process, along with many new, up-to-date exhibits and cases, which illustrate the theory by showing practical applications. • Extensive coverage of hot topics such as glocalization, born globals, value creation, value net, celebrity branding, brand piracy, and viral marketing, as well as a comprehensive new section on integrated marketing communication through social networking. • Brand new case studies focus on globally recognized brands and companies operating in a number of countries, including Build-A-Bear Workshop, Hello Kitty, Ralph Lauren and Sony Music Entertainment. • Global Marketing ‘Svend Hollensen writes with real authority and insight having been...
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...Rethinking the Networked Economy: The True Forces Driving the Digital Marketplace. By Stan Liebowitz Professor of Economics University of Texas at Dallas 2/3/2002 Chapter 1 Introduction .............................................................................................. 1 A. What you will find in later chapters............................................................ 3 Chapter 2: Basic Economics of the Internet.............................................................. 9 A. How the Internet creates value.................................................................... 9 B. Special Economics of the Internet, or maybe not so special..................... 13 i. Network effects......................................................................................... 13 ii. Economies of Scale................................................................................... 15 iii. Winner take all.......................................................................................... 17 C. How the Internet Alters the likelihood of Winner-take-all....................... 20 Chapter 3: Racing to be first: Faddish and Foolish ................................................. 25 A. From Winner-take-all to First-Mover-Wins ............................................. 26 B. The Concept of Lock-In............................................................................ 32 i. Strong Lock-In ...................................................................
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...HOW TO MAKE AT LEAST $100,000 Or More A Year As A Used and Rare Book Seller On The Internet BY YOUR NAME BY YOUR NAME Web Site: http://www.your-web-site-here.com Email: yourname@your-web-site-here.com ( Copyright 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission. Excerpts may be used with proper credit and contact information (address, telephone number or website URL of the publisher) No responsibility is assumed by the Publisher for any injury and/or damage and/or financial loss sustained to persons or property as a matter of the use of this report. While every effort has been made to ensure reliability of the information within, the liability, negligence or otherwise, or from any use, misuse or abuse of the operation of any methods, strategies, instructions or ideas contained in the material herein is the sole responsibility of the reader. The reader is encouraged to seek competent legal and accounting advice before engaging in any business activity. Introduction Not only am I going to show you step-by-step how to make $100,000 each year with your own business on the Internet I'm going to share with you exactly how I do it! Now, you can copy exactly what I'm doing- dealing in out-of-print and...
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...ROBERT F. HARTLEY • Cindy Claycomb 12th Edition T W E L F T H E D I T I O N MARKETING MISTAKES AND SUCCESSES Robert F. Hartley Late of Cleveland State University Cindy Claycomb Wichita State University VICE PRESIDENT & EXECUTIVE PUBLISHER SENIOR EDITOR PROJECT EDITOR EDITORIAL ASSISTANT ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT DESIGN DIRECTOR PRODUCT DESIGNER SENIOR PRODUCTION MANAGER ASSOCIATE PRODUCTION MANAGER PRODUCTION EDITOR COVER DESIGNER George Hoffman Franny Kelly Brian Baker Jacqueline Hughes Amy Scholz Kelly Simmons Marissa Carroll Harry Nolan Allison Morris Janis Soo Joel Balbin Eugenia Lee Kenji Ngieng This book was set in 10/12 New Caledonia by Aptara®, Inc. and printed and bound by Courier/Westford. The cover was printed by Courier/Westford. This book is printed on acid-free paper. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing are carbon impact, paper specifications and procurement, ethical...
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...BUSINESS STRATEGY OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Management Ideas Numbers Guide Style Guide Dictionary of Business Dictionary of Economics International Dictionary of Finance Brands and Branding Business Consulting Business Ethics Business Miscellany China’s Stockmarket Dealing with Financial Risk Future of Technology Globalisation Guide to Financial Markets Headhunters and How to Use Them Successful Mergers The City Wall Street Essential Director Essential Economics Essential Finance Essential Internet Essential Investment Essential Negotiation Pocket World in Figures BUSINESS STRATEGY A Guide to Effective Decision-Making Jeremy Kourdi THE ECONOMIST IN ASSOCIATION WITH PROFILE BOOKS LTD Published by Profile Books Ltd 3a Exmouth House, Pine Street, London ec1r 0jh www.profilebooks.com Copyright © The Economist Newspaper Ltd 2003 Text copyright © Jeremy Kourdi 2003 All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However, no responsibility can...
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...Begin Reading Table of Contents Photos Newsletters Copyright Page In accordance with the U.S. Copyright Act of 1976, the scanning, uploading, and electronic sharing of any part of this book without the permission of the publisher is unlawful piracy and theft of the author’s intellectual property. If you would like to use material from the book (other than for review purposes), prior written permission must be obtained by contacting the publisher at permissions@hbgusa.com. Thank you for your support of the author’s rights. For Isabella and Calista Stone When you are eighty years old, and in a quiet moment of reflection narrating for only yourself the most personal version of your life story, the telling that will be most compact and meaningful will be the series of choices you have made. In the end, we are our choices. —Jeff Bezos, commencement speech at Princeton University, May 30, 2010 Prologue In the early 1970s, an industrious advertising executive named Julie Ray became fascinated with an unconventional public-school program for gifted children in Houston, Texas. Her son was among the first students enrolled in what would later be called the Vanguard program, which stoked creativity and independence in its students and nurtured expansive, outside-the-box thinking. Ray grew so enamored with the curriculum and the community of enthusiastic teachers and parents that she set out to research similar schools around the state with an eye toward writing a book about...
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...EXECUTIVE SUMMARY This dissertation set out to explore how the Internet is changing the brand-building environment, in order to identify the new sources of value, the new brand-building tools and strategies, and to outline the key factors that contribute to the development of a successful online brand. With power shifting to customers, the success of an online brand is largely determined by customer choice. The repeated choice of a certain brand by customers and business partners generates the transactions and repeat business that counterbalances the costs of customer acquisition and infrastructure. Repeat transactions provide the basis for a relationship that, when properly cultivated, creates value for both the company and its customers. This relationship is the basis for the customer loyalty that creates a successful online brand. The companies that are successfully building relationships and fostering brand loyalty are those that recognise that their brand's perceived value hinges on the total end-to-end customer experience, from the promises made in the value proposition, to its delivery to the customer. It is about enticing customers, gaining their trust, and making the experience so satisfying that they are confident in their choice and will return again, and will tell others about it. It aims to create “apostles”, instead of “terrorists”. As such, brand-building on the Internet extends beyond the traditional focus of positioning, advertising, promotions, catchy logos and...
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