Pub Date : 2013-07-11DOI: 10.1016/J.LRP.2013.07.003
Julia Hautz, M. Mayer, C. Stadler
{"title":"Macro-Competitive Context and Diversification: The Impact of Macroeconomic Growth and Foreign Competition","authors":"Julia Hautz, M. Mayer, C. Stadler","doi":"10.1016/J.LRP.2013.07.003","DOIUrl":"https://doi.org/10.1016/J.LRP.2013.07.003","url":null,"abstract":"","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"133 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77215962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research investigates the process in which smaller, younger internationalizing firms explore and exploit the required knowledge and capabilities. This research adopted an exploratory, case-based theorising approach, and conducted a longitudinal empirical case study of four firms, each of which took a different internationalization path. The analysis focuses on how the four firms developed the firm-level organizational routines for exploring and exploiting external knowledge and capabilities, by investigating and comparing the level of routines development at the time of initial internationalization and these two years after this. As a result, this research finds that the level of the development of the firm-level organizational routines for internationalization is low, regardless of the timing and pace of internationalization, at the time of internationalization. Further, by analyzing the complete list of knowledge sources and knowledge types, this research argues the advantages of grafting for developing a wider variety of firm-level organizational routines to accelerate the pace of internationalization. Moreover, the distinction between ordinal and change routines has enabled this study to investigate the exploitation aspect of capabilities, and discusses the value of analyzing the higher-level routines that foster the exploitation, which distinguish rapidly internationalizing firms from slowly internationalizing firms.
{"title":"Organizational Routines Development and the Timing and Pace of Early Stage Internationalization","authors":"Masahiro Kotosaka","doi":"10.2139/ssrn.2204940","DOIUrl":"https://doi.org/10.2139/ssrn.2204940","url":null,"abstract":"This research investigates the process in which smaller, younger internationalizing firms explore and exploit the required knowledge and capabilities. This research adopted an exploratory, case-based theorising approach, and conducted a longitudinal empirical case study of four firms, each of which took a different internationalization path. The analysis focuses on how the four firms developed the firm-level organizational routines for exploring and exploiting external knowledge and capabilities, by investigating and comparing the level of routines development at the time of initial internationalization and these two years after this. As a result, this research finds that the level of the development of the firm-level organizational routines for internationalization is low, regardless of the timing and pace of internationalization, at the time of internationalization. Further, by analyzing the complete list of knowledge sources and knowledge types, this research argues the advantages of grafting for developing a wider variety of firm-level organizational routines to accelerate the pace of internationalization. Moreover, the distinction between ordinal and change routines has enabled this study to investigate the exploitation aspect of capabilities, and discusses the value of analyzing the higher-level routines that foster the exploitation, which distinguish rapidly internationalizing firms from slowly internationalizing firms.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75274429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Moral entrepreneurship is the fine art of recycling evil into good by taking advantage of situations given or constructed as crises. It should be seen as the ultimate generalisation of the entrepreneurial spirit, whose peculiar excesses have always sat uneasily with homo oeconomicus as the constrained utility maximiser, an image that itself has come to be universalised. A task of this essay is to reconcile the two images in terms of what by the end I call ‘superutilitarianism’, which draws on the lore of both superheroes and utilitarianism. After briefly surveying the careers of three exemplars of the moral entrepreneur (Robert McNamara, George Soros and Jeffrey Sachs), I explore the motives of moral entrepreneurs in terms of their standing debt to society for having already caused unnecessary harm but which also now equips him with the skill set needed to do significant good. Such a mindset involves imagining oneself a vehicle of divine will, which would be a scary proposition had it not been long presumed by Christians touched by Calvin. In conclusion, I argue that moral entrepreneurship looks most palatable – and perhaps even attractive – if the world is ‘reversible’, in the sense that every crisis, however clumsily handled by the moral entrepreneur, causes people to distinguish more clearly the necessary from contingent features of their existence. This leads them to reconceptualise past damages as new opportunities to assert what really matters; hence, a ‘superutilitarian’ ethic that treats all suffering as less cost than investment in a greater sense of the good.
{"title":"‘Never Let a Good Crisis Go to Waste’: Moral Entrepreneurship, or the Fine Art of Recycling Evil into Good","authors":"S. Fuller","doi":"10.1111/beer.12012","DOIUrl":"https://doi.org/10.1111/beer.12012","url":null,"abstract":"Moral entrepreneurship is the fine art of recycling evil into good by taking advantage of situations given or constructed as crises. It should be seen as the ultimate generalisation of the entrepreneurial spirit, whose peculiar excesses have always sat uneasily with homo oeconomicus as the constrained utility maximiser, an image that itself has come to be universalised. A task of this essay is to reconcile the two images in terms of what by the end I call ‘superutilitarianism’, which draws on the lore of both superheroes and utilitarianism. After briefly surveying the careers of three exemplars of the moral entrepreneur (Robert McNamara, George Soros and Jeffrey Sachs), I explore the motives of moral entrepreneurs in terms of their standing debt to society for having already caused unnecessary harm but which also now equips him with the skill set needed to do significant good. Such a mindset involves imagining oneself a vehicle of divine will, which would be a scary proposition had it not been long presumed by Christians touched by Calvin. In conclusion, I argue that moral entrepreneurship looks most palatable – and perhaps even attractive – if the world is ‘reversible’, in the sense that every crisis, however clumsily handled by the moral entrepreneur, causes people to distinguish more clearly the necessary from contingent features of their existence. This leads them to reconceptualise past damages as new opportunities to assert what really matters; hence, a ‘superutilitarian’ ethic that treats all suffering as less cost than investment in a greater sense of the good.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86059350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I examine in this paper deification and demonisation – the social attribution of absolute ‘Good’ and ‘Evil’ to individuals or individual entities. Specifically, I unpack ways that evilness and goodness have become personified in the figure of the chief executive officer in contemporary, particularly US, business culture. Showing both the readily accessible and widely used nature of these religious tropes, I nevertheless argue that both deification and demonisation have ethically and politically disempowering effects for organisational members, the wider citizenry, and for critique within the field of business ethics.
{"title":"Leadership and the Deified/Demonic: A Cultural Examination of CEO Sanctification","authors":"E. Wray-Bliss","doi":"10.1111/beer.12001","DOIUrl":"https://doi.org/10.1111/beer.12001","url":null,"abstract":"I examine in this paper deification and demonisation – the social attribution of absolute ‘Good’ and ‘Evil’ to individuals or individual entities. Specifically, I unpack ways that evilness and goodness have become personified in the figure of the chief executive officer in contemporary, particularly US, business culture. Showing both the readily accessible and widely used nature of these religious tropes, I nevertheless argue that both deification and demonisation have ethically and politically disempowering effects for organisational members, the wider citizenry, and for critique within the field of business ethics.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74958168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
For entrepreneurial firms it is essential to develop new ideas and products, build a brand name and reputation, and expand manufacturing capacity to protect competitiveness and ensure long-run success and survival. For a sample of 2,679 European Initial Public Offerings (IPOs) we analyze how firms allocate their resources between internal and external growth strategies after going public and how the growth strategy affects performance. Our findings shed light on the motives for going public and the determinants of internal and external growth post-IPO. Our findings indicate that the financing effect of the IPO helps to increase both external and internal growth. In particular, going public benefits external growth strategies in the long-term as acquisition activities usually require subsequent equity and debt issuance. However, the direct effects of going public are weaker in Europe than reported in studies for the U.S. We document that European IPO firms that spend large amounts on acquisitions or Capex exhibit the best performance, and R&D-intensive firms the worst. During the growth years these high growth firms outperform the broad stock market, but performance reverses in the following years. Overall, our evidence is consistent with the idea that going public facilitates external growth as a complement or substitute to internal growth.
{"title":"Growth Strategies of Entrepreneurial Firms after Going Public: A European Perspective","authors":"W. Bessler, Jan Zimmermann","doi":"10.2139/ssrn.2139998","DOIUrl":"https://doi.org/10.2139/ssrn.2139998","url":null,"abstract":"For entrepreneurial firms it is essential to develop new ideas and products, build a brand name and reputation, and expand manufacturing capacity to protect competitiveness and ensure long-run success and survival. For a sample of 2,679 European Initial Public Offerings (IPOs) we analyze how firms allocate their resources between internal and external growth strategies after going public and how the growth strategy affects performance. Our findings shed light on the motives for going public and the determinants of internal and external growth post-IPO. Our findings indicate that the financing effect of the IPO helps to increase both external and internal growth. In particular, going public benefits external growth strategies in the long-term as acquisition activities usually require subsequent equity and debt issuance. However, the direct effects of going public are weaker in Europe than reported in studies for the U.S. We document that European IPO firms that spend large amounts on acquisitions or Capex exhibit the best performance, and R&D-intensive firms the worst. During the growth years these high growth firms outperform the broad stock market, but performance reverses in the following years. Overall, our evidence is consistent with the idea that going public facilitates external growth as a complement or substitute to internal growth.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"59 3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78555649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2012-06-01DOI: 10.1111/j.1467-8608.2012.01654.x
Ivar Kolstad
While it is commonly accepted that corporations have negative duties to respect human rights, the question of whether rights also imply positive duties for corporations is contentious. The recent reports of the United Nations special representative on business and human rights contend that corporations do not have positive duties, but the arguments this is based on are flawed from an ethical point of view. In particular, the reports fail to consider the implications of interactions between corporations and states. For rights to be secured, corporations may face duties to use their power to pressure governments into performing their assigned duties, and duties not to undermine the role of the government. The interaction of corporations and governments also has implications for choosing effective instruments to advance human rights. International initiatives that do not take this interaction into account will be ineffective or, at worst, counterproductive.
{"title":"Human Rights and Positive Corporate Duties: The Importance of Corporate–State Interaction","authors":"Ivar Kolstad","doi":"10.1111/j.1467-8608.2012.01654.x","DOIUrl":"https://doi.org/10.1111/j.1467-8608.2012.01654.x","url":null,"abstract":"While it is commonly accepted that corporations have negative duties to respect human rights, the question of whether rights also imply positive duties for corporations is contentious. The recent reports of the United Nations special representative on business and human rights contend that corporations do not have positive duties, but the arguments this is based on are flawed from an ethical point of view. In particular, the reports fail to consider the implications of interactions between corporations and states. For rights to be secured, corporations may face duties to use their power to pressure governments into performing their assigned duties, and duties not to undermine the role of the government. The interaction of corporations and governments also has implications for choosing effective instruments to advance human rights. International initiatives that do not take this interaction into account will be ineffective or, at worst, counterproductive.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81801649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
K. Neuhoff, R. Boyd, T. Grau, J. Barquín, F. Echavarren, J. Bialek, C. Dent, C. von Hirschhausen, B. Hobbs, F. Kunz, H. Weigt, C. Nabe, G. Papaefthymiou, C. Weber
Integrating large quantities of supply-driven renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the congestion that will result from new flow patterns. We model the current methodology for controlling congestion at international borders and compare its results, under varying penetrations of wind power, with a model that simulates an integrated European network that utilises nodal/localised marginal pricing. The nodal pricing simulations illustrate that congestion - and price - patterns vary considerably between wind scenarios and within countries, and that a nodal price regime could make fuller use of existing EU network capacity, introducing substantial operational cost savings and reducing marginal power prices in the majority of European countries.
{"title":"Renewable Electric Energy Integration: Quantifying the Value of Design of Markets for International Transmission Capacity","authors":"K. Neuhoff, R. Boyd, T. Grau, J. Barquín, F. Echavarren, J. Bialek, C. Dent, C. von Hirschhausen, B. Hobbs, F. Kunz, H. Weigt, C. Nabe, G. Papaefthymiou, C. Weber","doi":"10.2139/ssrn.1950595","DOIUrl":"https://doi.org/10.2139/ssrn.1950595","url":null,"abstract":"Integrating large quantities of supply-driven renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the congestion that will result from new flow patterns. We model the current methodology for controlling congestion at international borders and compare its results, under varying penetrations of wind power, with a model that simulates an integrated European network that utilises nodal/localised marginal pricing. The nodal pricing simulations illustrate that congestion - and price - patterns vary considerably between wind scenarios and within countries, and that a nodal price regime could make fuller use of existing EU network capacity, introducing substantial operational cost savings and reducing marginal power prices in the majority of European countries.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"100 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86918076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Barriers to entry are created by FICCI and CII which espouse Indian business interests. FICCI membership has over 1500 corporates and over 500 chambers of commerce and business associations, FICCI espouses the shared vision of Indian businesses and speaks directly and indirectly for over 2,50,000 business units. They monitor the environment and help Indian businesses become competitive. The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes. CII is a non-government, not-for-profit, industry led and industry managed organisation, playing a proactive role in India’s development process. Founded over 114 years ago, it is India’s premier business association, with a direct membership of over 7800 organisations from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 90,000 companies from around 385 national and regional sectoral associations.
{"title":"Competitive Intelligence in India","authors":"V. Raghuvanshi","doi":"10.2139/ssrn.1804850","DOIUrl":"https://doi.org/10.2139/ssrn.1804850","url":null,"abstract":"Barriers to entry are created by FICCI and CII which espouse Indian business interests. FICCI membership has over 1500 corporates and over 500 chambers of commerce and business associations, FICCI espouses the shared vision of Indian businesses and speaks directly and indirectly for over 2,50,000 business units. They monitor the environment and help Indian businesses become competitive. The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes. CII is a non-government, not-for-profit, industry led and industry managed organisation, playing a proactive role in India’s development process. Founded over 114 years ago, it is India’s premier business association, with a direct membership of over 7800 organisations from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 90,000 companies from around 385 national and regional sectoral associations.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"90 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76489100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The global financial crisis in 2008, unexpectedly, has given a serious strike on the world financial system and the economic entities, which are still suffering heavily from its side effects. The shipping industry is one of the hardest hit fields. Many shipping companies have closed down because the relatively excessive shipping capacity and the dropped-down freight in the shipping market had caused the broken of the cash flow strand, and many others are still struggling for survival. It was even rumoring that the ‘survived’ shipping companies in the crisis would be the leading companies in the shipping industry. P Shipping Company has unavoidably encountered some difficulties during the financial crisis. But being benefited from the persistent company policies in risk control and timely adjustment of the strategy direction and operational tactics, the Company has achieved profitable 2008 and 2009 in total, stemming against the main stream of lose. Further more, it has successfully expanded the size of the fleet. In this paper, the remarkable mode against the financial crisis by the P Shipping Company is taken here for an example. The operational character of the shipping companies is considered. The relevant data and cases are analyzed. According to the current internal and external economic environment, the risk control practice in the high-risk shipping industry and the strategic direction to improve the competitive superiority of a shipping company are brought forward. After qualitatively analyzing on the important factors affecting the strategy management of a shipping company, the possible strategy projects are to be provided to the shipping companies.
{"title":"Research on Strategy Management of P Shipping Company in the Financial Crisis","authors":"S. Si","doi":"10.2139/SSRN.2801603","DOIUrl":"https://doi.org/10.2139/SSRN.2801603","url":null,"abstract":"The global financial crisis in 2008, unexpectedly, has given a serious strike on the world financial system and the economic entities, which are still suffering heavily from its side effects. The shipping industry is one of the hardest hit fields. Many shipping companies have closed down because the relatively excessive shipping capacity and the dropped-down freight in the shipping market had caused the broken of the cash flow strand, and many others are still struggling for survival. It was even rumoring that the ‘survived’ shipping companies in the crisis would be the leading companies in the shipping industry. P Shipping Company has unavoidably encountered some difficulties during the financial crisis. But being benefited from the persistent company policies in risk control and timely adjustment of the strategy direction and operational tactics, the Company has achieved profitable 2008 and 2009 in total, stemming against the main stream of lose. Further more, it has successfully expanded the size of the fleet. In this paper, the remarkable mode against the financial crisis by the P Shipping Company is taken here for an example. The operational character of the shipping companies is considered. The relevant data and cases are analyzed. According to the current internal and external economic environment, the risk control practice in the high-risk shipping industry and the strategic direction to improve the competitive superiority of a shipping company are brought forward. After qualitatively analyzing on the important factors affecting the strategy management of a shipping company, the possible strategy projects are to be provided to the shipping companies.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2011-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73005766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Colombia. The paper concludes with an extensive bibliography.
{"title":"Corporate Governance in Transition and Developing Economies: A Case Study of Colombia","authors":"Robert W. McGee","doi":"10.2139/ssrn.1665056","DOIUrl":"https://doi.org/10.2139/ssrn.1665056","url":null,"abstract":"The World Bank has published a series of reports on corporate governance as part of its project on the Reports on the Observance of Standards and Codes (ROSC). The corporate governance principles in its ROSC Reports are benchmarked against the OECD’s Principles of Corporate Governance (OECD 2004). The main categories of principles are discussed below. This study focuses on the main corporate governance attributes of Colombia. The paper concludes with an extensive bibliography.","PeriodicalId":14435,"journal":{"name":"International Strategy & Policy eJournal","volume":"157 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2010-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88043330","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}