The real option process in strategic management:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2002
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | III, 206 S. graph. Darst. |
Internformat
MARC
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| 245 | 1 | 0 | |a The real option process in strategic management |c vorgelegt von Andreas Fischer |
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Datensatz im Suchindex
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| adam_text | Table of Contents
Page
Table of Exhibits v
1. Introduction 1
1.1 Context 1
1.2 Goal of the Dissertation 2
1.3 Scientific Approach 3
1.4 Definition of Major Concepts 6
1.5 Overview of the Dissertation 13
2. Development of Strategic Management and Real Options 17
2.1 Development of Strategic Management 17
2.1.1 Origins 17
2.1.2 The Field of Strategic Management 18
2.2 Development of Real Options 21
2.2.1 Options 21
2.2.2 Real Options 23
2.2.3 Strategic Real Options 26
2.3 Conclusion 28
3. The Strategic Real Options Perspective 37
3.1 Introduction 37
3.1.1 Overview: The Four Steps of the Strategic Real Options
Perspective 37
3.1.2 Areas of Applicability 38
3.2 Step 1: Review Aspirations and Set Options Goals (Kmision Value) 44
3.2.1 Review Aspirations 44
3.2.2 Set Goals to Be Pursued With the Use of Options 46
3.2.3 Set Goals for Individual Option 49
i
ii
3.3 Step 2: Recognize and Create Options (Establish Value) 50
3.3.1 Recognize Potential Option 51
3.3.1.1 Change the Perspective: The Value of Real Options 51
3.3.1.2 Learn New Concepts: Forms of Real Options and Uncertainties 63
3.3.1.3 Apply New Concepts 86
3.3.2 Check Suitability of Option 87
3.3.2.1 Verify Value of Investment 89
3.3.2.2 Confirm Appropriateness of Option Structure 94
3.3.2.3 Check Present and Future Degree of Exclusiveness 109
3.3.2.4 Verify Low Cost of Option Relative to Potential Value 114
3.3.3 Check Suitability of Option for Portfolio 115
3.3.4 Create Option 119
3.3.4.1 Position in High Uncertainty 120
3.3.4.2 Establish Postponeability 121
3.3.4.3 Enable Reception of New Information 124
3.3.4.4 Build Flexibility 128
3.3.4.5 Reduce Irreversibility 133
3.3.4.6 Decrease Cost of Option 134
3.4 Step 3: Manage Options (Increase Value) 137
3.4.1 Increase Value of Individual Option 138
3.4.1.1 Increase Value Through the Value Levers 139
3.4.1.2 Increase Value Through the Factors Contributing to Asymmetry 143
3.4.2 Increase Value of Portfolio of Options 145
3.4.3 Avoid Option Pitfalls 147
3.4.3.1 Avoid Pitfalls Arising from Increase in the Number of Team
Based. Exploratory Projects 148
3.4.3.2 Avoid Pitfalls Resulting from Increase in the Proportion of
Projects that Fail 154
3.4.4 Monitor Development of Option 159
3.4.4.1 Monitor Timing of the Exercise 160
3.4.4.2 Monitor Option Character 166
3.4.4.3 Monitor Option Value and Option Cost 167
3.5 Step 4: End Options (Capture Value) 169
3.5.1 End Option 169
3.5.2 Manage Transfer of Option 172
Hi
4. Summary and Conclusion 175
4.1 Summary 175
4.2 Conclusion 176
Bibliography 179
Table of Exhibits
Page
Exhibit 1: Research process 5
Exhibit 2: Example of a financial and a real option 11
Exhibit 3: Structure of dissertation 14
Exhibit 4: Development of strategic management 18
Exhibit 5: Development of real options 22
Exhibit 6: The traditional deterministic strategic management approach and
its problems under high uncertainty (1) 31
Exhibit 7: The traditional deterministic strategic management approach and
its problems under high uncertainty (2) 32
Exhibit 8: Overview of the four steps of the strategic real options perspective 38
Exhibit 9: Uncertainty and flexibility matrix 40
Exhibit 10: Aspirations and goals 48
Exhibit 11: Step two of the strategic real options perspective 50
Exhibit 12: The value of a normal vs. a real option investment 52
Exhibit 13: The value of a call option 59
Exhibit 14: The value of a put option 60
Exhibit 15: The value and the cost of a real option 62
Exhibit 16: Classification of simple real options 64
Exhibit 17: Combinations of real options 72
Exhibit 18: Typology of uncertainties 82
Exhibit 19: Individual and portfolio suitability of real option 88
Exhibit 20: Real options assessment of a new technology or product 92
Exhibit 21: Appropriateness of option structure 94
Exhibit 22: Mechanisms leading to first mover advantages 99
Exhibit 23: Late mover advantages 102
Exhibit 24: Enabling mechanisms and principles for the creation of real
options 120
Exhibit 25: Step three of the strategic real options perspective 137
Exhibit 26: Real option pitfalls resulting from the increase in the number of
small scale, team based, exploratory projects 149
Exhibit 27: Real option pitfalls resulting from the increase in the proportion
of projects that fail 155
Exhibit 28: Development of the portfolio of real options over time 165
Exhibit 29: Key recommendations of the strategic real options perspective 176
|
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| indexdate | 2024-07-09T19:08:18Z |
| institution | BVB |
| language | English |
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| spelling | Fischer, Andreas Verfasser aut The real option process in strategic management vorgelegt von Andreas Fischer 2002 III, 206 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Sankt Gallen, Univ., Diss., 2002 Führungsentscheidung (DE-588)4390843-3 gnd rswk-swf Investitionsentscheidung (DE-588)4162244-3 gnd rswk-swf Entscheidungsprozess (DE-588)4121202-2 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Führungsentscheidung (DE-588)4390843-3 s Entscheidungsprozess (DE-588)4121202-2 s Investitionsentscheidung (DE-588)4162244-3 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010060424&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Fischer, Andreas The real option process in strategic management Führungsentscheidung (DE-588)4390843-3 gnd Investitionsentscheidung (DE-588)4162244-3 gnd Entscheidungsprozess (DE-588)4121202-2 gnd |
| subject_GND | (DE-588)4390843-3 (DE-588)4162244-3 (DE-588)4121202-2 (DE-588)4113937-9 |
| title | The real option process in strategic management |
| title_auth | The real option process in strategic management |
| title_exact_search | The real option process in strategic management |
| title_full | The real option process in strategic management vorgelegt von Andreas Fischer |
| title_fullStr | The real option process in strategic management vorgelegt von Andreas Fischer |
| title_full_unstemmed | The real option process in strategic management vorgelegt von Andreas Fischer |
| title_short | The real option process in strategic management |
| title_sort | the real option process in strategic management |
| topic | Führungsentscheidung (DE-588)4390843-3 gnd Investitionsentscheidung (DE-588)4162244-3 gnd Entscheidungsprozess (DE-588)4121202-2 gnd |
| topic_facet | Führungsentscheidung Investitionsentscheidung Entscheidungsprozess Hochschulschrift |
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